Job that's 100% commission?

http://www.washingtonpost.com/wl/jobs/JS_JobSearchDetail?jobid=30742757&jobSummaryIndex=90&agentID= Is this real? Why would you sign up for a job with no base pay?

yea… they want an IB associate withe 2-5 experience at M&A… and paying 100% commission… Essentially, they’re saying: You only get paid if we get paid. Which means they have to win the business. I bet they’re targeting all laid-off bankers who are having trouble landing jobs.

> Why would you sign up for a job with no base pay? Taxi driver? Real estate agent? Business owner? CEO of an investment bank?* *well, he might make a token salary – but 95+% of his comp will be bonus

@darien, for a taxi cab driver the bonus is the tip above the stipulated meter fee (taxi’s get a base plus bonus). In terms of real estate agents, look where the industry is right now, the ranks have been purged. Darien, why don’t you apply for the job if it’s so appealing? It think iteracom is right, they are looking for people that are desperate for work.

> taxi’s get a base plus bonus Not in the big apple. They pay a daily (fixed) rent for the car and pocket 100% of revenues. You could say they start with a negative salary.

I wonder what the expected compensation is for this job. I mean, if they expect to pay out maybe $200k, then would it really hurt to give $60k or so in base compensation? They would get much better applicants also.

pay peanuts…

@Darien, In D.C., Taxi cabs can be independent and own their car without having to work for someone else. But that may change because there is legislation to go to the medallion system that NYC has (which would suck for the independent cabi).

@ohai, That’s what I was thinking. Darien would apply if it had a base pay component. Darien, you could crash at my place but in return I’ll take a % of your bonus.

If you’re confident that you can generate the business, why not?

DarienHacker Wrote: ------------------------------------------------------- > > Why would you sign up for a job with no base > pay? > > Taxi driver? Real estate agent? Business owner? > CEO of an investment bank?* > > > > > *well, he might make a token salary – but 95+% of > his comp will be bonus token = $800K base or something? I’ll take a token :slight_smile:

higgmond Wrote: ------------------------------------------------------- > If you’re confident that you can generate the > business, why not? Well, even if you are talented, it’s hard to make money if the overall business is sketchy. That’s the question right? If they don’t have resources to pay their IB associates a base salary, what might that say about the overall efficacy of the business?

@ohai, nice point!

ohai Wrote: ------------------------------------------------------- > higgmond Wrote: > -------------------------------------------------- > ----- > > If you’re confident that you can generate the > > business, why not? > > Well, even if you are talented, it’s hard to make > money if the overall business is sketchy. That’s > the question right? If they don’t have resources > to pay their IB associates a base salary, what > might that say about the overall efficacy of the > business? GT Marlin.

What about financial advisors? They’re 100% commission. Lots of sales jobs are set up this way.

Those are unrelated to this job listing, though. It says, 'Taylor Companies is seeking an Associate to join its investment banking deal team." IB with no base pay is definitely not normal.

I wonder about the compensation structure at spy agencies. Commission should be way above 50%.

Inner Evil Voice Wrote: ------------------------------------------------------- > I wonder about the compensation structure at spy > agencies. Commission should be way above 50%. Not that lucrative, at least in the states. You come out of school making about 45k and can only tell your spouse and parents what you actually do for a living. But, you get excellent experience understanding how to read and motivate people…very good for investing.