Can You Really Earn 6 Figures By Doing Sales?

Author

Jie Xin Goh

What Are The Different Kind of Sales Jobs?

1) Property Agent

A female property agent selling a house.

Job Scope:

Guide clients on property price and mortgages
Compile real estate list for properties
Show properties to potential buyers and renters.
Present purchase offers to sellers
Facilitate negotiations between buyers and sellers

Here is a table summary of the average salary and working hour:

Table 1.

2) Financial Advisor

A financial advisor explaining the financial plan to a couple.

Job Scope:

Answer client’s questions about financial plans
Advise clients in insurance coverage, investment planning, cash management
Review client accounts on a regular basis
Develop strategies for meeting clients' financial goals
Prepare financial document summaries
Managing client portfolios

Here is a table summary of the average salary and working hour:

Table 2,

3) Sales Executive

A sales executive selling shoes to a customer.

Job Scope:

Evaluate customer needs
Seek new sales opportunities
Set up meetings with potential clients
Present company product/services

Here is a table summary of the average salary and working hour:

Table 3.

4) Telemarketer

A female telemarketer talking to a client.

Job Scope:

Cold calling people using a given phone directory
Answering incoming calls from prospective customers
Using scripts to provide information about product’s features, prices etc. and present their benefits

Here is a table summary of the average salary and working hour:

Table 4.

What Are The Highest Paying Sales Jobs?

Property Agent
Financial Advisor

1) Property Agent

A property Agent closing a deal.

According to Payscale, a property agent can earn up to $30,000 a month without any added incentives (bonus, rent, etc).

If you have been reading up on property prices, you would have heard about the Le Nouvel Ardmore penthouse which was sold for SGD$51 mil. The property agent could have earned approximately $1,200,000 if the commission is kept at 2% (market rate).

Did he/she have a university, master or doctorate certificate? Most likely not.

According to the National Statistics in 2012, almost 48% of Singaporean property agents are GCE O’ Level graduates. The minimum requirement to take the Real Estate Agent Course (REA) or Real Estate Salesperson (RES) is 4 passes on any O’Level subjects.

Disclaimers

If you think that earning a minimum of $8,000 is a given, you are sorely mistaken about the real estate industry. Newcomers normally rely on their basic pay to lay the initial groundwork for their later years- digital marketing campaigns, flyer marketing and social media advertisements. There are literally months where a property agent can earn $0. I’ve heard stories of property agents living on $1000 - $2000 income per month making no sales at all.

After all, property sales/resale is largely based on cyclical demand. Some factors like government policies, financial environment and demands issues can affect property sales.

Despite all the setbacks, many veterans posit it is a necessary part of building their character. The hardship they face during their initial years made them even more hungry, passionate and motivated. Those who could not stand the challenge of time eventually moved on to other industries, leaving the strong ones who will later become a high wage earner than the other quitters.

2) Financial Advisor

A financial advisor doing cash flow analysis.

Minors who are aged below 21 years old (according to the Ministry of Manpower) cannot sell life insurance, health insurance and any form of financial plans/services. Travel insurance is the only option for them, which normally does not pay well (especially in this period COVID-19 Pandemic).

For those above 21 years of age, it is possible for you to earn more than $10,000 a month. Insurance companies have an incentive scheme that pays their agent a whopping $20,000 if they meet the 60,000 sales for each year. The incentive will grow each year and will almost double by their third year.

For 3rd year financial agents, their average salary is around $11,000 per month. The incentives and customer base will compound into an unimaginable amount in the future.

Not to mention, as an insurance agent move up the ranks, he/she is able to build their own team of Financial Advisors. The top (“mentor”) stands to receive a commission from their junior teammate’s profit.

Million Dollar Round Table

A term that many insurance agents will throw around to attract new talents. MDRT is the name of an international association of financial professionals founded in the US. The organisation recruit insurance professionals who have sold a certain amount of life insurance.

Being part of the MDRT is proof that you are a high flyer. The MDRT can earn up to $1,200,000 a month which is higher than 89% of the Singapore population.

In all cases, do check out our Financial Advisor roles on WorkClass.co to kickstart your career!

Where To Search for Jobs?

Our logo.

Try WorkClass.co for the latest and most high paying Financial Advisory Jobs in Singapore.

We do offer other Sales positions for those who are looking for less time-intensive jobs.

Remember this! Every career choice you make will have a HUGE impact on your future prospect. Do try out these sales role if you feel unsatisfied with your current pay.