What’s the difference between bonus and commissions? The two types of compensation often get confused but there’s a pretty distinct difference. If you’re evaluating or reevaluating your sales compensation structure, it’s an important difference to know. Base salary...
Whereas commission-only or straight sales commission plans are a traditional way to compensate sales people, a base salary plus commission plan dominates with most sales organizations these days. The commission portion of every compensation plan shapes up a...
When evaluating how to pay a growing sales team, a straight sales commission structure is an option worth considering. In theory, this type of plan drives salespeople to close more deals but it fails to guarantee a regular paycheck, which sometimes scares off new...
Insurance agents earned a median salary of $50,940 in 2019. The highest paid 10% made upwards of $125,500, according to the U.S. Bureau of Labor Statistics. The differences are largely made up of how much these agents or producers collected in insurance sales...
Navigating the world of sales commissions without knowing the terminology is like wandering the streets of a city where you don’t know how to ask where the bathroom is: it’s frustrating. Once you can talk the sales commission management...
Author and sales leader Mark Roberge compares sales compensation plans to Batman in his book The Sales Acceleration Formula, alluding to their ability to equip sales teams for success. So when you’re developing your first sales commission plan or modifying your...
