In the State of Michigan we are all hurting (some worse than others) and are all looking for good oppurtunities and you go on-line or pick up a paper and read First Preffered Mortgage Hiring (Southfield MI): Make 100k plus annually, Medical benefits, bonuses, paid time off, leads provided, 36k a year salary, direct lender, Vote for Pedro and all your dreams will come true well, maybe not the last part but you get the drift...
What you are not being told is that the pay structure is divided into different tiers of pay and anyone in the mortgage business (who is any good) knows that to get to $20,000 in revenue commision (only) shouldnt be like scaling the himilaya mountains so the pay structure is based on $0-$19,999 in commission revenue you will get paid $19,000 - 10,000 x 10% of that (example: $19,000 closed - $10,000 x 10% = $900) plus your 36k a year salary that is tier #1 (the only tier anyone reading this will ever get to 99% of the time no matter your skill level) Tier #2 is basically get to 20k and you will get 3k (salary) 3k (commision) = 6k okay, not bad especially in this economy.
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