[phunder]

I've heard of shops paying anywhere from 20% to 60% commissions to reps/closers on deals funded. What, in your professional/experiential opinion, is a "fair" commission split for experienced, high-performing reps?

[dollarbillz]

I've heard of shops paying anywhere from 20% to 60% commissions to reps/closers on deals funded. What, in your professional/experiential opinion, is a "fair" commission split for experienced, high-performing reps?

Depends on the quality of leads the shop is generating but I would say 45 - 50% for a high performing rep.

[Yankeeman07]

I've heard of shops paying anywhere from 20% to 60% commissions to reps/closers on deals funded. What, in your professional/experiential opinion, is a "fair" commission split for experienced, high-performing reps?

20% to 60% commissions - of what ? What is the Gross Commission?

[Zapfunding]

I've heard of shops paying anywhere from 20% to 60% commissions to reps/closers on deals funded. What, in your professional/experiential opinion, is a "fair" commission split for experienced, high-performing reps?

New business , renewal , managing both ???

New business top reps in this industry are making $250k++++

Do the math on ur shop

50k rev a month from the rep is 600k for the year. Bound to have a few larger months so 35%- 40% of that puts u right about there

Not sure what u consider “ experienced, high performing rep numbers “

[diditevenfund]

All depends what you offer as a shop. Have resources and pumping in high quality real time leads? Running data in dialers and spending on nothing?

[brandon_]

I agree with the above. It all depends on what you're offered. If you get a base salary, commission will be lower. If you don't, it will be higher. If you're closing deals all day, and being handed the approvals, commission will be lower. If you're grinding calling outbound AND closing, commission will be higher. If you bring in your own leads and just use the company as a platform, commission will be even higher. So I like the answer of 20-60%. It really depends. If you wanna PM me with the context of the situation I can give you my honest answer.

[SendDocsPlox]

To start on a 100% commission basis a 25-35% split to start is entirely normal in MCA, same split for PSFs

Most shops will be capping out at 40-50% depending on company structure and that would be expected after the ISO knows you are in it for the long haul. Sometimes that will take years to get to, depending on a number of factors

Coming from larger, more established companies where leads and equipment are provided

[Franklin]

To start on a 100% commission basis a 25-35% split to start is entirely normal in MCA, same split for PSFs

Most shops will be capping out at 40-50% depending on company structure and that would be expected after the ISO knows you are in it for the long haul. Sometimes that will take years to get to, depending on a number of factors

Coming from larger, more established companies where leads and equipment are provided

This is correct. To add,


25% -35% is typical and that’s when good leads are provided, along with a base or draw, and the usual company support systems like crm, phone, email address, admin, processor.



40% - 50% is very generous and extremely unlikely when good leads are being provided.


The three scenarios I've seen this occur:


-A company offers this to agents on their first few deals to give them an incentive and something to reach, and to help them get money in their pocket faster

-A company deliberately overpays to keep turnover down and loyalty up because they only hirer superstars and they never want them thinking of going anywhere else

-A company doesn't realize they're overpaying and when they do, they correct it, either by changing the structure, or releasing the agent.



Other compensation structures I've seen:


$450 a week and 2 points on each deal (about 20% commission)

$300 a week and 35% commission
Usually a Lead Budget


$300 a week and 10% commission
Heavy Lead Budget


Large lender - $60,000 annual salary and 1 point on a deal
-Heavy budget on Leads
-Agents have a funding quota
-They also have a limited amount of time to work and close lead before it gets reassigned to another coworker.



When the company you work for spends heavily on leads, your position becomes less about sales and more about identifying motivations and managing your time with the right merchants

Some places (like formerly Yellowstone) used to make Agents rent their seat. They had a very heavy lead budget




Agent - 35%
Leads - 20%
House - 30%
Overhead - 15%

In this breakdown, the agent is making the most money. Many times the house feels they should be splitting commission equally with the Agent.


Lead costs can be as high as 30-40% sometimes, and overhead can go up to 25% (I've seen shops that have a chef for the team). From a business perspective, it's not really feasible to give an agent more than 35%.


Now if the agent is just cold calling and the lead budget is minimal (just aged data lists), you can see agents making 40-50%.

The house has less risk typically because they're not spending as much money, so they don't mind giving more to the agent, who's doing most of the prospecting work at that time.






www.UccRadar.com – Large sales volume merchants filling out your application.

[Seesaw2022]

how much is a top closer funding a month ?

[SendDocsPlox]

how much is a top closer funding a month ?

2MM+ Solo, not counting a Team they likely have under them

[Steven_O]

This is correct. To add,


25% -35% is typical and that’s when good leads are provided, along with a base or draw, and the usual company support systems like crm, phone, email address, admin, processor.



40% - 50% is very generous and extremely unlikely when good leads are being provided.


The three scenarios I've seen this occur:


-A company offers this to agents on their first few deals to give them an incentive and something to reach, and to help them get money in their pocket faster

-A company deliberately overpays to keep turnover down and loyalty up because they only hirer superstars and they never want them thinking of going anywhere else

-A company doesn't realize they're overpaying and when they do, they correct it, either by changing the structure, or releasing the agent.



Other compensation structures I've seen:


$450 a week and 2 points on each deal (about 20% commission)

$300 a week and 35% commission
Usually a Lead Budget


$300 a week and 10% commission
Heavy Lead Budget


Large lender - $60,000 annual salary and 1 point on a deal
-Heavy budget on Leads
-Agents have a funding quota
-They also have a limited amount of time to work and close lead before it gets reassigned to another coworker.



When the company you work for spends heavily on leads, your position becomes less about sales and more about identifying motivations and managing your time with the right merchants

Some places (like formerly Yellowstone) used to make Agents rent their seat. They had a very heavy lead budget




Agent - 35%
Leads - 20%
House - 30%
Overhead - 15%

In this breakdown, the agent is making the most money. Many times the house feels they should be splitting commission equally with the Agent.


Lead costs can be as high as 30-40% sometimes, and overhead can go up to 25% (I've seen shops that have a chef for the team). From a business perspective, it's not really feasible to give an agent more than 35%.


Now if the agent is just cold calling and the lead budget is minimal (just aged data lists), you can see agents making 40-50%.

The house has less risk typically because they're not spending as much money, so they don't mind giving more to the agent, who's doing most of the prospecting work at that time.






www.UccRadar.com – Large sales volume merchants filling out your application.

What a wealth of accurate and clear information!
Dude, you rock for always keeping it upfront.

There's a ton of opportunity in this industry, for someone new, with the right well established company.

[Franklin]

$75,000 - $125,000 is average

250,000 and up is very good

400,000+ and up is a rock star

There are top closers doing 2 million, as SendDocs said, but they are rare, and they have a team with openers and doc chasers and an assistant to answer calls and smooch with merchants.


So the question does need to be quantified a little more:


Any closer doing over 250,000 a month will usually have a team. There are some solo rockstars, but they're more like white stags in the wild (the top guy I know does/did 1 million by himself).

The funding types you offer will determine your closing, as 2 fast track SBA loans can give you half a million in funding right on the spot, and that can be done without a staff. But it would be less profitable than that amount in merchant cash advance, unless of course you're good at invoicing merchants directly.



Some closers do their own prospecting, some closers only see the deal when an offer is made and it's their job to get them to sign contracts, and some closers may have openers and doc chasers and an assistant to answer calls and smooch with merchants.

A closer on salary who makes 1-2 points on a deal, makes less than a closer who runs an Iso shop and makes a share of everyone's commission, plus closes his own deals for 100% of the commission

A closer who has a partner or investor fronting a heavy budget for leads, again is more of an order taker at that point and will be generating a lot of revenue.

Time is what impacts profitability the most. If someone (or something) else is doing your prospecting and qualifying, that clears the way for you to focus on the most profitable tasks: getting the merchant to sign and staying on top of him for renewals (and some companies have renewal departments), so even that can be delegated to free up more time to close.





www.UccRadar.com – Large sales volume merchants filling out your application.

[MovingMoney]

here is the deal,
people pay 35% - 40% that's ok that's normal

When you do 50%, in my experience it does wonders,
it works out for everybody.
Make that extra incentive and see if it was worth going that extra mile...

[Finalfund]

$75,000 - $125,000 is average

250,000 and up is very good

400,000+ and up is a rock star

^ Wht is this referring to?
Monthly funding/ closing amounts?

yearly total commission and salary ?

[diditevenfund]

here is the deal,
people pay 35% - 40% that's ok that's normal

When you do 50%, in my experience it does wonders,
it works out for everybody.
Make that extra incentive and see if it was worth going that extra mile...

50 is great if you are not putting out resources.

[Franklin]

^ Wht is this referring to?
Monthly funding/ closing amounts?

yearly total commission and salary ?

This is referring to Monthly Funding amounts.




www.UccRadar.com – Name your own Price Leads