GETTING ON WITH OTHERS
Get out what you put in with these roles. Melanie Burgess reports
WORKERS who are motivated and independent are reaping rewards through commission-based careers, with the average commission boosting incomes 25 to 50 per cent.
Stockbrokers, for example, earn an average $30,000 a year in commissions alone, increasing the average pay packet of $79,000 by more than a third, PayScale Australia reports.
Meanwhile, financial advisers and real estate agents average about $20,000 in commission, mortgage brokers and business development managers average $15,000, and recruiters and travel agents average $10,000.
These workers typically earn a two-part salary: a set base rate; and fluctuating commission based on performance, although some employees are paid only in commission.
They may earn a certain percentage of the gross revenue they create or earn a certain amount for selling a predetermined volume of product.
In some cases, commissions are uncapped.
Real estate agency Ray White Group’s annual profit book for the 2016-17 financial year reveals the average annual income of their sales agents is $108,000, compared to PayScale’s national average for the role of about $68,000.
Figures vary greatly, however, and Ray White Group’s top 1 per cent of sales agents earn more than $600,000 a year.
Principal Cameron Crouch says it generally takes a year to “get up and going”.
“By 18 months, they should be earning good money, by two years-plus, very good money, by three and four years – putting in the time and effort – they should have very high salaries,” he says.
Crouch has made more than $7 million in commissions.
He says a university degree has little bearing on salary potential in his line of work. “The commonalities between the top 1 per cent of agents are very simple – they work hard and stay true to their word,” he says. “Honesty is one of the biggest assets.”
Jobs department figures forecast the need for an extra 7200 financial brokers, 6600 real estate sales agents, 1300 tourism and travel advisers, 1200 motor vehicle and parts salespersons and 1100 insurance agents and sales representatives in the five years to May, 2023.
REWARD: Cameron Crouch says working hard pays off in real estate. Picture: NIGEL HALLETT