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Commission Only Jobs
If you're thinking about going into a Commission only job the best advice would be to start out by taking a loan directly into your savings while your getting your feet wet. I would suggest taking out $15K and dumping it directly into a savings account so you don't starve the first year.
I have seen Loan Officers make as much as a million a year and others make as little as $35K a year. If you're experienced and have developed an infrastructure with a big fat pipeline that is constantly bringing in new leads then often times a company will give sign on bonuses to get you in the door. Other times they will give you draws. I have seen some LOs with regular draws on top of their commissions and others with only limited draws. It has a lot to do with who you are and how you're going to help boost the company's net earnings in the next year.
Regards,
Boodleboy322
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Hybrid Mode
