To live in society, we have to trade time for money, and unless you are a homesteader that can feed yourself completely off the land and be self-sufficient, you will have to get a job. Fortunately, you can pick the type of employment you want and gain the necessary skills.
While many jobs pay you a set wage by the hour, some work on a commission-based compensation where you are paid after you complete a task. These are typically sales jobs offering products and services and can be very lucrative because they are scalable.
Are you looking for employment that rewards you based on your efforts and effectiveness in merchandising? Here are the five best jobs that pay commission.
Job #1: Real Estate Agents
As a real estate agent, your salary is based on the number of properties you sell. You can concentrate on the seller’s end, the buyer’s end or both, and if you do both sides of the deal, you get twice the money because the commission is typically split between both representatives.
The competition is fierce because big money needs to be made, and you must work hard to establish a client base. Building your brand and harnessing the internet and social media to increase sales is important. There are several areas you can concentrate on to become an expert:
- Residential
- Commercial
- Condos
- Luxury homes
- Second home buyers
- Investors
- Foreclosures
- First-time buyers
Real estate agents make their transactions, but because of closing dates for sales, they have to wait for their commissions. This can be tough because they still have ongoing expenses for advertising, vehicle costs and agency fees. Fortunately, you can use real estate agent commission advances to gain flexibility. These commission advances allow you to manage your earning potential better.
There are also several steps you need to go through to become a real estate agent, and then it’s up to you to sell to your friend groups, the sphere of influence, your community, and beyond.
Job #2: Pharmaceutical Sales Representative
As a pharmaceutical sales rep, you find customers like doctors and physicians to sell various devices, drugs and treatments for patient care. You work for manufacturers and distributors and are usually given a territory to develop relationships with various professionals to persuade them to buy your products.
A rep’s typical day consists of hitting the road to meet clients, including:
- Pharmacists
- Physicians
- Advocacy groups
- Hospital personal
- Family doctors
There are also medical device representatives that work similarly but promote and sell their company’s product to medical professionals. This includes wearable sensors, medical alert devices and critical care products.
Job #3: Insurance Sales Agent
This is employment where you are selling different insurance products to people. You can work for an individual company, selling their products or a brokerage and sell multiple policies from various companies. As with most sales jobs, you need to hit the pavement and build your client list, working with individuals one at a time to determine the best policy and coverage needed for their situation.
It’s a fast-growing sector because there is a need for people to protect themselves. As an insurance sales agent, you can sell a variety of products to individuals, businesses and public institutions and specialize in one or more, including:
- Life insurance
- Accident insurance
- Vehicle insurance
- Property insurance
- Travel Insurance
These products protect their clients’ lives, health, income, and beneficiaries.
Job #4: Travel Agent
Travel agents assist individuals and groups in planning and booking travel. There is, however, much more they offer, including:
- Accommodations
- Transportation
- Rental vehicles
A travel agent works to put together complete packages for entire vacations and can offer set packages from various destinations to custom trips that may include multiple destinations and transportation options linked together with different levels of lodging.
An agent may work with an individual or a family. Still, you can also specialize in group tours and niche travel for sporting events, weddings and destinations, corporate travel, special needs and surprise travel. Commission can also be paid for selling tours, entertainment tickets, and insurance.
Job #5: Other Commission-Based Jobs
It can be scary working for a commission because you don’t get a real wage, but it can be very lucrative for ambitious and driven people. Check out these best commission-based jobs and see what works best for you in your work life.
Manufacturing Representative
You sell a wide variety of products direct from one manufacturer.
Financial Services
This involves products in the financial sector like securities, commodities, stocks and mutual funds.
Sales Engineers
As a sales engineer, you sell technologically and scientifically advanced products to manufacture machines and equipment.
Software Sales
Software agents sell technology like web-based software, cloud solutions and office management products.
Loan Officer
Banks and mortgage companies hire loan officers to sell loans and mortgages by dealing with clients with their applications to determine their creditworthiness.
Literary Agent
These people represent writers and receive commissions on a book’s sales to a publisher.