[Mrsizzle45]

Yo funda21, that was best advice you can give this person. Much respect to you.

Be Profitable,

KQ.

[Mrsizzle45]

Yo funda21, that was best advice you can give this person. Much respect to you.

Be Profitable,

KQ.

[sigmundpannu]

Curious, your seeking out advice on this forum- what advice has your "buddy" given you? And I assume a company that offers a $55k base to people with experience has some game plan in place for its new hires. I think the best advice I can give you today is to go in and listen to your sales manager - or whomever is writing those checks - who has a vested interest in your success. They probably (maybe not) have a detailed outline of your job duties and how to be successful in their organization. Bring your work ethic and enthusiasm and let them train you.

[AndyYSCISOdept]

Here is my advice.

Be prepared to work harder than you ever have before and make sure that you are in a mindset that can handle the VERY Extreme Highs and Lows (a lot more of these) of this industry. Furthermore, don't be a fool, go back and get that base salary.

I started at Yellowstone when there was 12 employees and my first months commission was 912 dollars (for the month) Now obviously back in the day it was really easy to go from 912 to 15K a month in about 6 months....nowadays based on what my ISOs are telling me, their new guys on 100% commission don't make real money until month 3 (assuming they stay around that long)

Bueno suerte dude, you need it the same way all oif us bitter, **** talking veterans need it.

[Sachip24]

that is an insane base salary for this industry, or at least from what Ive seen. You should take it once you learn the business and know how to generate business then you can go full commission. Network with as many people as you can, this is still sales. Any successful sales person will always have a strong network of referral partners.

[mikem]

DylanJames - don't mind all of them the industry is changing and they are just disgruntled and upset their income isn't shat it use to be.and they are taking it out on the new guy with ambition. I personally respect your attitude and that's what it will take to succeed in this game at this point as the easy days are long gone.

If you weren't on the other coast I would offer you a job in my shop in a heartbeat just off your attitude and mindset alone. I can teach you this business but I can't teach those 2 traits and no one can have ah real success without them.

I run a large shop and have trained many reps so if you need some advice I would be happy to get on a call with you and give you some tips that can really shorten your learning curve. Just PM me

"In a place where there are no men, strive to be a man."

[FUNd]

Regardless of all the differing opinions, we can all agree no base salary and limited experience is going to present a huge challenge. Maybe this kid can pull it off.

[Chambo]

Well you know, my friend started out the same way and made 100k his first year, 2 years ago.


Basically, and with all due respect, if you attitude is, that it can't be done, you might as well kill yourself


so im a believer

What your friend did two years ago, as opposed to TODAY are very different arenas. You will be going up against seasoned veterans who already REALLY KNOW THE PROGRAMS & INDUSTRIES.

If I was in your shoes, and knowing what I know, I would have run at the base salary...though any firm offering that kind of base to beginners HAS GOT TO BE screwing them for a few accounts and then jettison.

Best of luck though...love the piss and vinegar attitude

[Fly]

I'm 100% sure they are advertising a bs base salary of 55k to draw more applicants in or OP is lying. There is no one that would offer that base for a telemarketer in this industry.

What is your commission structure?

[DylanJames]

I'm 100% sure they are advertising a bs base salary of 55k to draw more applicants in or OP is lying. There is no one that would offer that base for a telemarketer in this industry.

What is your commission structure?

i believe the 55k base is + 3.5% commission



----

as for me, i offered them to do it on commission only because i don't think they would have offered me the job if the 55k base was part of my pay.
so i talked a big talk, and i told them i would put my money where my mouth is

But as far as interviews and first impressions go i killed it

[DylanJames]

Dude, keep that attitude. I usually stay under the radar on this site. Some of these cats are so complacent they forgot what got them there. Sure it's going to be rough. If you listen to these folks on this site you might as well fold up your tent. I've been in this business since 2002 worked for AdvanceMe and started out just like you. On a slow month I can make 15k, if I double down the commissions are sick. So, young man like PatrickMTKT said your passion is awesome and your confidence level are on point. Go for it DylanJames. Much luck in your endeavors.

Be Profitable,

KQ

Thank you bro for the positive vibes

[DylanJames]

What your friend did two years ago, as opposed to TODAY are very different arenas. You will be going up against seasoned veterans who already REALLY KNOW THE PROGRAMS & INDUSTRIES.

If I was in your shoes, and knowing what I know, I would have run at the base salary...though any firm offering that kind of base to beginners HAS GOT TO BE screwing them for a few accounts and then jettison.

Best of luck though...love the piss and vinegar attitude

i don't believe they would have hired me with the base salary involved.
so i offered them commission only to let me prove myself

[Fly]

What is your commission only structure?

[DylanJames]

What is your commission only structure?

50/50

[Opportune]

what is the real reason that most of you are absolute assholes

Welcome to Daily Funder 101. Todays lesson will be to make a very sincere post on DF and report back on the responses you get.

Good luck bro. I'm rooting for you. Let us know how it goes.

[MCNetwork]

But as far as interviews and first impressions go i killed it

I would kill the interview too if I told them I'll work for free

In all seriousness, good luck my friend. Work hard, prove yourself, and be sure to ask for that base salary down the road. Right now, the only shops that offer $40k+ base salaries are the top funding firms (like Bizfi, Strategic Funding) and you have to be a rock star salesperson (not necessarily in cash advance, but ANY industry) to get those gigs. A $55k base is unheard of so be sure to take advantage of it!

[ridextreme]

DylanJames - don't mind all of them the industry is changing and they are just disgruntled and upset their income isn't shat it use to be.and they are taking it out on the new guy with ambition. I personally respect your attitude and that's what it will take to succeed in this game at this point as the easy days are long gone.

If you weren't on the other coast I would offer you a job in my shop in a heartbeat just off your attitude and mindset alone. I can teach you this business but I can't teach those 2 traits and no one can have ah real success without them.

I run a large shop and have trained many reps so if you need some advice I would be happy to get on a call with you and give you some tips that can really shorten your learning curve. Just PM me

I can't speak for the other posters but I am in no way upset that my income is not what is "use" to be, and I don't have anything to take out on a new guy.

This new guy told a poster earlier that he should kill himself for giving him an honest answer about the market being over saturated. For that you have a lot of respect for him. Good for you. To each his own.

[DylanJames]

Thank you very much to all the helpful people here

[BigIz]

what is the real reason that most of you are absolute assholes

DylanJames,

I have only been in this business for less than a year and I can tell you that you quickly figure out that one of the BIG personality trait requirements to be a DF poster is assholitis. I do not necessarily think this is a bad trait but it shocks you at first. Do not take it personal and keep on coming here and reading all the posts because you will definitely learn. I think Sean should charge tuition. He runs the "Daily Funder School of Alternative Business Finance". Good luck!

[FUNDTASTIC]

DylanJames,

I have only been in this business for less than a year and I can tell you that you quickly figure out that one of the BIG personality trait requirements to be a DF poster is assholitis. I do not necessarily think this is a bad trait but it shocks you at first. Do not take it personal and keep on coming here and reading all the posts because you will definitely learn. I think Sean should charge tuition. He runs the "Daily Funder School of Alternative Business Finance". Good luck!

thank you sir this is so true

[TStein]

So whats your status Dylan..making six figures yet?

[anonymous]

i sold this company very well to take a chance on me, and they agreed.
I offered to start on commission only, to prove myself, and they accepted.

Oh yeah, you sold 'em good!

The company itself works in merchant services but is just starting out in the MCA field.

Sounds solid.

They're hiring around 5 people, and ill be one of them.

Let me guess, they all passed on the salary too.

[aredmond]

Well you know, my friend started out the same way and made 100k his first year, 2 years ago.


Basically, and with all due respect, if you attitude is, that it can't be done, you might as well kill yourself


so im a believer

100k a year is average, nothing special in this industry. I wouldn't try and get advice on here. I would just go into the job opened mind, find the person there that is closing the most business and absorb as much as you can. From there is it a combination of talent and hard work that will make you succeed.

Side Note: You better hope the company has deep pockets because that will give you a better chance to succeed. The less capital they have to spend/market, the quicker you will become just another statistic in the MCA world.

[jotucker1983]

100k a year is average, nothing special in this industry.

Well, I have to disagree with you here, $100k a year still puts you in the top 5% of individual income earners in the entire country as long as you aren't living in a high cost of living area where your purchasing power is significantly reduced.

Making $100k a year is special in any industry, but I surely would not say that's the "average" compensation being made in this industry across the board. I believe it's still the 80/20, where 20% of the people make 80% of the production as well as the bulk of the revenue/incomes. The other 80% of people can barely keep the lights on and can barely keep food on the table.

I would just go into the job opened mind, find the person there that is closing the most business and absorb as much as you can. From there is it a combination of talent and hard work that will make you succeed.

But if that top closer is getting fed leads all day from a $150,000 monthly marketing campaign, but Dylan is going to have to cold call random listings out of the Yellow Pages, he can work "hard" all day long, he will not come anywhere close to the level of performance and production of the guy getting fed inbound leads.

Side Note: You better hope the company has deep pockets because that will give you a better chance to succeed. The less capital they have to spend/market, the quicker you will become just another statistic in the MCA world.

I agree, which is why I was questioning the comment of "talent and hard work" are only needed to succeed, with no prior information on marketing budgets, strategic networks, etc.

If $100,000 were the "average" income in this space, you wouldn't have the turn-over that we have nor would you have the extreme low barriers to entry that we have. Companies would hire internally and pay salaries only with bonus.

The 20% making a living at this are doing so due to some form of exclusivity that provides significant competitive advantages in the market, such as having large marketing budgets, strategic networks, etc. The other 80% can barely pay their utility bills.

Even though we technically have a low barrier to entry, there is indeed a high barrier to success in this space because it's only the select few on the 20% side that have the competitive resources required to making a living in the first place. So sure, the door is open to run on in here....but the door to actually make MONEY is pretty much SHUT at this point unless you are in that 20%.

[FundingCzar]

From an ISO's perspective- our average rep makes $57k before bonuses, $74k all in. Top 10% are doing $120-140k yearly all in.