Can You Really Earn 6 Figures By Doing Sales?
Author
Jie Xin Goh
Category
Financial Affairs
Posted on
2023-03-10
Views
434
Share our post
Author
Jie Xin Goh
Category
Financial Affairs
Posted on
2023-03-10
Views
434
Share our post
Countless Blue Collar Workers have asked us, “Boss, is it possible to earn more than 2k a month?”. Our answer is always YES, you can definitely earn more than 2k per month if you choose the right job!
What if you do not have a fancy university certificate? Let’s not lie! The University certificate is important for jobs like banking, academia, researcher and specialist related jobs. Even jobs like supermarket manager require a certificate nowadays.
How can I draw a 1 million per year salary without education? The answer is simple. Try out the sales industry!
The sales industry is mainly commission-based, meaning your salary is dependent on the number of sales you can close. There are different type of sales jobs with a different salary range.
Let’s cut the chase and move straight to the main point!
Here is a table summary of the average salary and working hour:
Here is a table summary of the average salary and working hour:
Here is a table summary of the average salary and working hour:
Here is a table summary of the average salary and working hour:
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.
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.
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.
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!
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.
Category
Financial Affairs
Posted on
2023-03-10
Share our post
Written by
Jie Xin Goh
Digital Marketing Executive
For more information or enquiries, please contact Jie Xin Goh at hello@workclass.co
About Workclass
Just 24 hours after WorkClass was founded in 2020, it quickly became the leading front line job portal not just in Singapore, but all of South East Asia. Offering jobs from all verticals including production, warehouse, admin and customer service, WorkClass has something for everyone. Many of the 6,000 jobs offered by employers on WorkClass don't require any experience and you can start immediately. Press and investors have taken notice of WorkClass, with features in Business Times, CNA, and more, and the company is mission driven to help everyone find a job in just 24 hours.
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