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05-23-2022, 11:04 AM #1
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- Jul 2021
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brokers total compensation
What are you brokers making in total yearly compensation?
Be honest, brag, but say how many years experience
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05-23-2022, 11:13 AM #2
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- Feb 2017
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- 3,334
I had some jerk/idiot call me a few weeks ago and ask that question, he has a calling center and is thinking about moving into the MCA industry.
He insisted that I'm not good on the phone, and that all brokers are scamming. When I asked what he does, he told me that he sells something, I asked, "Are those timeshares?" and he told me "Yes, but they're dressed as something else."
He also insisted that there's no possible way that a broker makes 6 figures / year.
He kept saying, "What kind of car do you drive? I drive a Porsche" and some other fancy car.
He had a bad experience with co-brokering (small deals, didn't pay well, he had horrible data, and I told him such). His best idea for how to get clients was charge them $500 up-front and/or physically go and visit them to "hook" them in.
In answer to the question, dollars / year is really not the mark, because some people will choose to make less money but own their own freedom by being their own boss. That's worth money, and to some, it's worth millions, to others its worth hundreds.
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05-23-2022, 11:20 AM #3
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- Nov 2021
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- in this thread, vigorously mashing the refresh key
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Best brokers that I've worked with make 500k-1MM per year when you factor in PSFs
Granted they're complete savages
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05-23-2022, 11:33 AM #4
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- Apr 2018
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- 180
Been in the industry for about 6 years now and never been on salary. For me, its not what I make a year its more what I can a month and focus on that.
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05-23-2022, 11:42 AM #5
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- Jul 2021
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- 27
LOL same guy called me and said the same thing. Wanted me to fund his merchants that he's going to bait and switch with $1 million LOC.
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05-23-2022, 12:45 PM #6
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- Jan 2017
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05-23-2022, 12:54 PM #7
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I know a sales rep on this board who told me he made $300,000 in 2021. They're also semi-direct funders and they syndicate heavily as well.
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05-23-2022, 01:11 PM #8
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- Mar 2021
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- 183
Last edited by goatFunding; 05-23-2022 at 01:15 PM.
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05-23-2022, 01:20 PM #9
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- Apr 2022
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- 31
so the consensus is that most brokers are topping out at 250-300k over a after a few years in the industry??
not gonna name ppl but I know a few ISO reps and UW I work with that are making more than that
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05-23-2022, 02:25 PM #10
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- Feb 2017
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This particular agent (and he told me that he works his tail off) did that during his first full-time year.... I'm sure it will grow.
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05-23-2022, 02:29 PM #11
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- Oct 2021
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- 49
Individuals or the shop as a whole?
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05-23-2022, 02:45 PM #12
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- Nov 2021
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I mean I have had 2 sales reps funding 1.5-2MM as individuals, on the monthly, and charging 10% PSFs
Like take home pay being 500K-1MM per year (not counting taxes owed, of course), not including syndication just pure MCA brokering
Very talented guys from large shops I've worked for/withLast edited by SendDocsPlox; 05-23-2022 at 02:49 PM.
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05-23-2022, 03:22 PM #13
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- Jul 2021
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- 152
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05-23-2022, 03:23 PM #14
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- Jul 2021
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05-23-2022, 03:24 PM #15
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05-23-2022, 04:01 PM #16
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- Oct 2014
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- Naples, FL
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- 471
...dear anyone: I'll work for you if you can provide the opportunity to make 300k, all day... leads must be provided and position must be remote. I've been in MCA since Dec 2014. Msg me.
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05-23-2022, 04:26 PM #17
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- Apr 2022
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- 31
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05-23-2022, 05:23 PM #18
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- Nov 2013
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- 598
Been in this space since 2015....best year was $275K strictly with MCA's, no syndications , no backdooring, no affiliates and no collateral loans (WBL) all on my own. Could probably beat those numbers if I co-brokered or syndicate but don't trust anyone to do either lol.
Last edited by FCF Fund; 05-23-2022 at 05:26 PM.
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05-24-2022, 12:55 AM #19
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- Apr 2022
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- 35
my two cents are purely just based off speaking to close friends and what I have picked up on.
-if someone is very good at what they do & doing for a few years (broker, iso, UW, run a small book) they should be making a bit more than 200-300k
- running a med - large broker shop or funding shop or team for a few years, you should be making more than avg 200-300k.
-if you are being dishonest ( heavy stacking, psf, fake loc, back d etc) you prob suck if ur only making 200-300k
- alot of ppl say they close/fund a few million a month but don't do a fraction. (I was speaking to a funder/broker I know, claims to be funding 4-6mill a month but has no CRM or defaults in the court system) many just plain lie through their teeth.
- a select handful made a ton of money at their investors' expense. Iv seen at least 8 lawsuits where investors sued the owner of the funding shop. easy to make alot of money if you take ur investor for a rideA.B.C
Alway Be Closing
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05-24-2022, 11:35 AM #20
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- Jan 2017
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- 72
If your an ISO shop with min. 4-5 employees, and your not GROSSING $120k a month in this game...your doing something wrong... you might actually be better off as a sales rep at some large shop.
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05-24-2022, 11:56 AM #21
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- Jun 2015
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- 3,313
i can tell you i had a rep that went around to other companies because they were telling him their guys were making 500k plus . i told him demand to see the 1099 on the spot. Not one company will actually show it.
he went to one shop that pulled out a stack of all the 1099 and it was from 20k to 270k .
By the broker fair 3 years ago , i spoke with a guy that told me he made a million in his first year . i told him pull out your phone now log into your bank , show me the deposits and i will close my shop and bring everyone over to you. than the song and dance started.
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05-24-2022, 11:57 AM #22
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05-24-2022, 12:18 PM #23
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- Jan 2017
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05-24-2022, 12:52 PM #24
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- Jul 2015
- Location
- Tampa Florida
- Posts
- 488
I had the same guy call me with the same b.s. plan to charge $500 and show up in person. He brought up Porsche and AMG Mercedes.... For a minute I thought it was a prank call because of how ridiculous the guy was. Said his name was Ben and called me from 224 area code.
Jason H l Sales & Business Development
Quikstone Capital Solutions l Tampa FL
Direct Line & Mobile 813-371-8233 l Fax 813-371-8233 l Text 727-492-8812
Jason.Hausle@quikstonecapital.com
www.quikstonecapital.com
Direct Lender Since 2005
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05-24-2022, 01:00 PM #25
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- Feb 2017
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- 3,334
Jason, that's him. I thought I was going to make money somehow for staying on the call and being polite, but I realized 30 minutes into the call that it was a waste of time. I just looked back of the call logs, it was 12243196793. I should have taken a screenshot, a name came up on the caller ID.
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