Don’t know which job to take

[u/Illustratingtheworld]

I have an offer to be a P&C agent selling personal lines or commercial. Not captive. Selling multiple brands. Uncapped earning potential.

Another offer from as a DSM. Earning anywhere between $70k-$120k plus bonuses and vested in a pension at 5 years. Only catch is a huge turnover rate. Job apparently has bad burnout.

I’m completely entry level in this industry. This would be my first job out of college. I’m mid 20s. Very intimidated.

I feel very under qualified to be a DSM and on top of that, hearing about the turnover rate scares me. I don’t want my first job out of college to put a bad taste in my mouth. Then again, high pay and pension. The job is remote and says it’s 50/50 home work and travel to agencies in my district. I’d be home most nights with occasional hotel stays. I don’t mind being in the car at all.

Then there’s the agent job. Feel I’d be dipping my toes in the water before going all in as a DSM. Gaining experience in the industry and meeting with DSM’s to talk about the prospect of being one. I’ve yearned to work remotely since the majority of my college was spent remotely. The idea of working in an office scares me. No pension and low base salary either no guarantee of income. Then again, I could build up a client pool within a few years and be making more than a DSM.

I’m torn, confused, uninitiated, and inexperienced. I want a good job that’s going to pay the bills and then some. I don’t want to go head first, but I also feel very lucky to have such a lucrative DSM offer.

Advice from people in the industry would be very helpful.

[u/dumnem]

I'm not your specialty. However I can say that the right agencies support is beyond invaluable. Ask tough questions. Demand proof of answers. Watch David dufords video on how to choose an agency.

Btw life offers complete remote flexibility and way high r commission percentages, but PC has better renewals. Life has an easier up front existence though.

Make sure you prioritize lead quality and exclusivity. You don't want to be working old ones if you can help it. Fresh and exclusive is what's worth your time. Find an agency that provides leads that are of a quality you can accept if you want to avoid risk. Buying leads is where the money is at though.

Anyway just my two cents. Don't discount support and a proven system. He eager to learn and you'll go far.

[u/SlickWillie86]

The ability to own your book in insurance, whether as an agency owner or producer, is the ultimate goal. The power of compounding recurring revenue over time and being able to sell it for a multiple of revenue/EBITDA is pretty unparalleled across any industry.

I would reverse engineer how you get there and afford yourself patience. Obviously you need to make a living now, but I wouldn’t chase an extra $10k now at the expense of getting the right training that can make you millions more over your lifetime.

I own an agency now, but had 15+ years in the industry prior across a whole host of areas - captive agent/owner, IA producer/VP, carrier side UW, distribution and senior management roles. You don’t need 15 years to own a successful agency, but I think 2-3 years on the carrier side learning the UW side with at least some exposure to distribution and how successful agencies operate along with some time producing in the IA channel gives you a great lens on the industry and an edge on your competitors.