||[Oct. 27th, 2009|07:59 am]
The Question Club
You're 25, a newlywed, have a mortgage, a car payment, and all the typical bills (car insurance, utilities, etc). Basically, you're me.|
You're current job pays $40,000 per year (gross), with full medical, dental, vision, life, and death insurances, long term and short term disabilities (all of which are 100% company paid and don't cost you a penny from your check), 401(k) (match 20% up to 5%), 3 weeks vacation per year, and 10 paid holidays. Problem is, your pay pays your bills, with nothing else leftover. Your spouse works, but only part-time since she's still in school. Once she's out of school, she wants to start a family, and would prefer to stay home with the kids. You also haven't had a raise in the three years you've been with this company.
You get an offer to go to work for an insurance company as an agent. It is 100% commission-based with no set hours. You work your own schedule, completely on your own. The company offers health, dental, and vision insurances (for $50/week), long and short term disabilites (free), 401(k) with a better match (35% up to 6&), pension, free vacations and trips, and a manager position within 13 weeks. They will reimburse you the $300 it will cost to get your insurance license. There is the very real possibility to make some serious bank doing the job (around $60,000 per year...up to $100,000+ after you make manager in a matter of months), but, as I said, it's 100% commission based. You could work your ass off one week and not have anyone buy anything, and you're SOL.
Do you stick with the steady income that you know is coming in like clockwork every two weeks, but barely pays the bills, or do you try your hand at the insurance game and take the risk associated with commission-based pay in hopes of making some better money?