Pros
You call the shots. You can earn a comfortable salary. Be prepared to work 60 hours a week if you want to earn more than 50k a year during your 1st 10 years. Yes there will be high's and lows but 50k is average for a hardworking agent. Also be prepared to invest at least 20% back into your business for marketing and expenses. making your net take home about about 30K. When you toss in residuals. your AGI is 40k. Not bad considering the freedom you have. If you are considering a career as an agent set aside 6 months of living expenses up front. If you ever get lucky enough to have a 6 figure year. SAVE the extra money!! remember you might need it next year, be sure to take a nice vacation though.
Cons
Be prepared to weather, reversals ( that's when you have to give back your commission when a customer cancels during the 1st year) Declines, for every $1000 new business you turn in, NYLIC will likey decline 30-40% of it. ( it's all about risk management) so that means if you want to earn $3000 per month in commssions you need to turn in $5000 in new business every month. Also If you want to sell investments you need to bring in $43,000 in commissions (annually or you'll have to pay a supervsion fee of $1.500. The company makes you pay this during the last quarter of the year. along with your professional laibility insurance, and tech support, that's $2800 right off the top. (Happy Holidays!) That means you'll have to turn in about 18K in new business during the last qtr to make $3000 take home each month.
