Possible New Job, Opinions Welcome.

[BMalion]

I want to talk to you about a job I'm thinking of starting. It's in the insurance industry, it would involve one week of classes at a local school starting next Monday (cost $500) to get my license, then training for 6 weeks. Commission only. But they said the money starts coming at about 4-5 weeks. What have I got to lose? I can afford it and I'm not doing anything else. I don't think my company is going to call me back by Feb 2nd, which is the date I would be officially laid off. I've been on "involuntary furlough" since November 7th.

It's with Bankers Life and Casulty. I had 3 interviews with them this week and was very excited. It's a little scary as a sales job is not within my comfort zone but maybe it's time to take a chance and step out of my comfort zone.

I can survive on my savings and unemployment through July or longer so I'm not at the point of flipping burgers yet.

Any opinions?

[Jack Batty]

On the surface, it sounds a little sketchy. Granted, I don't know a lot about the insurance industry, but I was always told to avoid taking jobs that I would have to pay to accept. I used to see them all the time back in the day, when I was working in a warehouse for $10/hr.

"Make $20 / hr to start! ...
Send fee of $200 to ... "

But if the company is on the up and up, you can afford it, you want to give a go ... fuck it, man, give it a shot. Live a little, ya know?

[Nava]

Well, if it's outside your comfort zone but not on the other side of the world from it, why not?

An important question for me would be, "would I be comfortable buying these folks' products?" I can sell fridges to an Aleut so long as I'm convinced that it's the right model for her and nobody gets in my way (and it feels great) or so long as I think she's the worst idiot to walk this Earth and any money I can extract will be in better pockets by being in mine (but it's not good for my stomach, never mind my karma). I'm convinced it's one of the reasons there's lots of jerks who are succesful in sales, it's a "chicken or egg" question whether they were mysantropic jerks, therefore became good in sales with the second approach, or have been doing the second approach for so long that being jerks got ingrained.

So, is it something you would buy if it was appropriate for you? How agressive are you expected to be? How much is money a motivator for you?

[Jodi]

Well, I personally loathe sales (meaing, could never ever do it as a career, I couldn't even sell Girl Scout cookies), so I'll be upfront that my opinion is colored by that fact.

In this economy, I would be concerned about the market for the product. A lot of people are cutting way back on discretionary spending, and I don't know that it's the best time to be marketing insurance products. So if you do it, maybe concentrate on identifying the under-insured and have a good persuasive shpiel about how insurance isn't really a luxury, it's a necessity. But trying to break into any commission-only job in this market -- a contracting market, where you will be competing for clients with people with way more experience than you -- seems to me to be a gamble. Sure, you might see commissions in 4 to 5 weeks, but will they be enough for you to live on? I honestly believe a great salesman can sell iceboxes to Eskimos -- but only a great salesman can.

Even though you say you have the time and money, I would consider whether this opportunity is really the best use of both, or whether you might be better served to invest that same time and money in looking for a safer job (i.e., a paying job) or in improving your skills/education in a field that is less risky than commission-based insurance sales. But if you truly can consider as something you'll just take a flier at, and if it doesn't work out, no harm no foul . . . . then, why not?

[ZipperJJ]

My roommate was doing the whole job search thing and we posted his resume online with the Ohio Job & Family Services job search site (required when you're on unemployment).

His resume shows no high school diploma and no GED. We put in his interests as "general labor" and his resume shows he's done nothing but general labor since he was 18.

He immediately got two phone calls and two emails from this Bankers Life and Casualty company saying that they saw his resume online and thought he would be a good match.

The two of us agreed that we would never do business with this Bankers Life and Casualty if they were seriously willing to hire a mope like him to sell whatever they're selling.

I don't want to rain on your parade, since I'm sure your a million times more qualified than Basement Dan but...the way they operate does seem kind of sketchy to me.

[aruvqan]

Hmmmm ...

I was licensed for everything but securities when I worked in insurance, and my company paid the training and testing ... and they also paid for the continuing education. I would be a bit wary about being asked to pay for it, though you might ask if they will repay you once you have passed and are licensed.

On the plus side if you get licensed, then you can go anywhere in insurance for a job as you have already demonstrated that you are licensed.

[Hampshire]

Once you have a license and their schooling how do you go about selling the insurance? Door-to-door? Cold calling?
Do you work out of an office or do you work out of your home? How about benefits like health insurance?

[Mithril]

You should read "Bait and Switch: The (Futile) Pursuit of the American Dream " by Barbara Ehrenreich. She was offered what sounds like the same job in the book (perhaps a different company) but didn't take it. The company won't support you at all, you'll do cold calling, and you won't draw any salary (if it's the same thing).

[Hampshire]

I had a similar "job offer" when I was unemployed a few years ago. I believe it was for American Express Financial? They called with a time for what I thought was to be an interview. Instead I showed up with about 25 others who were given a presentation on how the limits of your income are bound only by the limits of your determination to make money. Then they had a lady who was soon opening her own branch in such-n-such town and started out just like us.
At this point to determine who was actually serious about persuing this further and to weed out those who "didn't want to make money" they asked for a $200 processing fee on the spot.
At that point me and a few others hit the road. I was pretty suprised at how many actually stayed and forked over $200 especially knowing they were unemployed just like me and didn't have spare cash to blow.

[pbbth]

Yeah, this is a scam. Don't take this job. FWIW I am in insurance and I have several licenses (Property & Casualty and AD&D) in all 50 states and I have never been asked to pay for a single one.

[BMalion]

Originally Posted by Hampshire

I had a similar "job offer" when I was unemployed a few years ago. I believe it was for American Express Financial? They called with a time for what I thought was to be an interview. Instead I showed up with about 25 others who were given a presentation on how the limits of your income are bound only by the limits of your determination to make money. Then they had a lady who was soon opening her own branch in such-n-such town and started out just like us.
At this point to determine who was actually serious about persuing this further and to weed out those who "didn't want to make money" they asked for a $200 processing fee on the spot.
.

Yes, it started with a presentation to a progressively smaller group. I stuck it out to hear what they had to say.

They offer to reimburse your tuition after 6 months.

The fee is paid to a school that seems to have no connection to the company, and I have more than one school to choose from.

pbbth, did you need to get a license and get finger-printed? They said that it was state law in Ohio.

It's calling leads that they provide from their office for 2 day per week, then home visits geared to sell additional insurance to seniors for the other 3 day of the work week.

[pbbth]

Originally Posted by BMalion

Yes, it started with a presentation to a progressively smaller group. I stuck it out to hear what they had to say.

They offer to reimburse your tuition after 6 months.

The fee is paid to a school that seems to have no connection to the company, and I have more than one school to choose from.

pbbth, did you need to get a license and get finger-printed? They said that it was state law in Ohio.

It's calling leads that they provide from their office for 2 day per week, then home visits geared to sell additional insurance to seniors for the other 3 day of the work week.

I was required to get a license and get finger printed for every insurance job I've held until this current one, but I already had the license and stuff when I got here so that is probably why. Here is the way stuff works in the insurance world IME: They find your resume and see you have no insurance experience but think you would be good for the job, then they bring you in for an interview, then they bring you in for a second interview, then they offer to train you and pay for your license and continuing education for as long as you are with the company.

I personally would never take any job that makes me pay up front. They are welcome to take the cost out of my check (and you will be getting checks, even if they are commission and not regular paychecks, so this should be no problem) but I would never pay someone for the privilege of working for their company. Generally speaking, asking for money up front = scam in the world of employment.

[sugar and spice]

Have you been trying to break into sales for awhile now, or is this the first time you've gone for a sales job? If the former then I probably can't add anything useful. But if the latter, why not take a little more time and apply for more sales job? I mean, from what you've said it doesn't sound like the opportunity is going to disappear anytime soon, and it sounds like you can afford to job search a bit longer. Was your last job in insurance? If not, is there another industry you have more experience in, where you might have a leg up? Companies you've dealt with before, that you could turn around and sell to? Foreign language skills you could apply? (Aleut?)

Just some thoughts from the peanut gallery. IANA saleswoman.

[fluiddruid]

I'd strongly recommend you do a Google search and read more before shelling out. Here is a good place to start. Also, note the stark differences between the positive and negative reviews here.

[BMalion]

Thank you all. I am going to pass on this offer.

[kittenblue]

Sorry I didn't see this earlier, glad to know you passed on it. My ex worked for Banker's Life and Casualty back in the late 70's, and I don't think he ever made any money at it at all.... plus if I recall correctly there was a lot of pressure to get large sums of money from basically poor elderly people. Even scum like my ex had too much class to deal with that for long. And in this economy....

[Cisco]

A few years back, when I was between jobs, I went through a whole loooooong interview process for what sounds like the same job for New York Life. It started with a large group interview, then a small group interview, then a personal interview, then a small group pep-talk/sales pitch (where they tell you how rich you're about to be, etc), then another one on one interview. I'm sure I'm forgetting some details but at the end of it all I got offered the job and ultimately did not accept it, for multiple reasons unrelated to this thread. Anyway, the moral of the story is: they never asked me for any money. Look for the same job with another company.

[stucky]

Sounds like a good investment to me, but I have a better one, send me $500 and I will guarantee a huge profit for your investment. You can work out of your home, set your own hours, and drive a luxury automobile (supplied by me, user fee involved). Beautiful girls to look at and all the booze you can drink. Long vacation in a luxury condo (user fee involved) on a beautiful lake. Respond quickly as opportunity will only exist until I get enough money to go to Las Vegas.

[friedo]

Originally Posted by BMalion

I want to talk to you about a job I'm thinking of starting. It's in the insurance industry, it would involve one week of classes at a local school starting next Monday (cost $500) to get my license, then training for 6 weeks. Commission only. But they said the money starts coming at about 4-5 weeks. What have I got to lose?

It sounds like you've got $500 and five weeks of paid work to lose. But if you think it's worth it, go for it. IME commission-only sales jobs can be pretty hellish, tho.

[BMalion]

Funny, I haven't contacted them in almost 4 weeks and have not heard one single peep from them such as "Where are you? How are you doing with the class?"

Tells me much.

Thank you all.