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Would you accept this job offer???

Would you accept this job offer???

Old May 15th 2008, 4:21 am
  #1  
South Yarra Sheila
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Default Would you accept this job offer???

If you were offered a job with the following conditions would you take it?

1) No basic salary just a "retainer" of $50,000 per annum. If you dont make at least equal commission you have to pay them the difference back at the end of the year. BTW this job is in your usual profession and thats the way every company here does it!
2) They cant give any real idea of what you'll earn only that it probably "wont be much" in first year as you will be mentored but it "should" cover the retainer.
3) It is working for one of the top companies of its type in the area so potentially if you can stick the 1st year (where you are someone's pussy who doesn't earn much0 you may make some decent $$'s.
4) If, worst case scenario, you did have to pay them some money back you would have to sell your car/house/wedding ring to do so.

Yes or no....?

ta

Last edited by JoolsB; May 15th 2008 at 4:32 am.
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Old May 15th 2008, 4:23 am
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Default Re: Would you accept this job offer???

Err, no. I don't fancy being worse off at the end of a year's hard work and if they themselves say 'not much' it's more likely to be terrible!

Horses for courses I suppose but not for me!

Good luck!
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Old May 15th 2008, 4:24 am
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Default Re: Would you accept this job offer???

NO
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Old May 15th 2008, 4:33 am
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Default Re: Would you accept this job offer???

Def...NO!
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Old May 15th 2008, 4:35 am
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Default Re: Would you accept this job offer???

Never.
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Old May 15th 2008, 4:36 am
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Default Re: Would you accept this job offer???

Originally Posted by Mumfords View Post
NO
Sounds like you're paying them for the privilege of having a job essentially, if you 'fail'.
Fear isn't a good motivator I have found.

It really depends on how sucessful you believe you can be in the first year.... but if you don't have the money to lose, then don't gamble.
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Old May 15th 2008, 4:39 am
  #7  
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Default Re: Would you accept this job offer???

Thanks guys That's what I think too-it's an offer my OH got and we both feel very "funny" about it but just wanted some outside opinions.
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Old May 15th 2008, 4:41 am
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Default Re: Would you accept this job offer???

There is a solution.
Have the retainer clause removed.

That way any commision you earn will be positive.

There are quite a few jobs where you do not get salary/wages paid but get 50% of profits earned.

This frequently means that you can work as little or as much as you want.

My wife works for a travel agency on such conditions and it suits as she is working only during school hours.
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Old May 15th 2008, 4:47 am
  #9  
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Default Re: Would you accept this job offer???

Originally Posted by Mipik View Post
There is a solution.
Have the retainer clause removed.

That way any commision you earn will be positive.

There are quite a few jobs where you do not get salary/wages paid but get 50% of profits earned.

This frequently means that you can work as little or as much as you want.

My wife works for a travel agency on such conditions and it suits as she is working only during school hours.
They have already told him that he will earn no commission at all in first 3 months as he will be going thru their induction process. If we had the retainer clause removed we would have no money to live on Likewise if he had a bad month we would have probs with no retainer to draw from.
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Old May 15th 2008, 4:53 am
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Default Re: Would you accept this job offer???

Originally Posted by JoolsB View Post
They have already told him that he will earn no commission at all in first 3 months as he will be going thru their induction process. If we had the retainer clause removed we would have no money to live on Likewise if he had a bad month we would have probs with no retainer to draw from.
I did not realize that this was a main breadwinner job in your case. (reale state?)

A lot of sales jobs in Australia are structured in this way.
From one point of view a bit rough if sales are down but on a positive side no upper limits on earnings.
As people can clearly see how much they are earning on each deal motivation is high.
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Old May 15th 2008, 5:03 am
  #11  
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Default Re: Would you accept this job offer???

Originally Posted by Mipik View Post
I did not realize that this was a main breadwinner job in your case. (reale state?)

A lot of sales jobs in Australia are structured in this way.
From one point of view a bit rough if sales are down but on a positive side no upper limits on earnings.
As people can clearly see how much they are earning on each deal motivation is high.
Yes real estate He doesn't really want to back into this industry (he has other options) but thought if he could get a job with the best company in town he might consider. It is the best company (or one of) but alas unlike in UK where he got a good basic salary (that he was actually allowed to keep!) & a decent comms structure here it is completely different. Oh well, out goes the backup career.....
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Old May 15th 2008, 5:10 am
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Default Re: Would you accept this job offer???

Originally Posted by JoolsB View Post
Yes real estate He doesn't really want to back into this industry (he has other options) but thought if he could get a job with the best company in town he might consider. It is the best company (or one of) but alas unlike in UK where he got a good basic salary (that he was actually allowed to keep!) & a decent comms structure here it is completely different. Oh well, out goes the backup career.....
There are agents who pay basic salary, but they're becoming rare on the ground but they do exist.
If he's licensed then he can (in NSW - not sure about elsewhere) work for commission only by having his own company.... then working under the umbrella of the RE company name... bit weird but new regulation for licensed agents.
The issue with RE is really the market and whether your other half thinks he can sell enough to make enough... and given those terms, I would try to find another agency who can offer better than this....
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Old May 15th 2008, 5:14 am
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Default Re: Would you accept this job offer???

Originally Posted by JoolsB View Post
If you were offered a job with the following conditions would you take it?

1) No basic salary just a "retainer" of $50,000 per annum. If you dont make at least equal commission you have to pay them the difference back at the end of the year. BTW this job is in your usual profession and thats the way every company here does it!
2) They cant give any real idea of what you'll earn only that it probably "wont be much" in first year as you will be mentored but it "should" cover the retainer.
3) It is working for one of the top companies of its type in the area so potentially if you can stick the 1st year (where you are someone's pussy who doesn't earn much0 you may make some decent $$'s.
4) If, worst case scenario, you did have to pay them some money back you would have to sell your car/house/wedding ring to do so.

Yes or no....?

ta
Let me think about it.
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Old May 15th 2008, 5:14 am
  #14  
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Default Re: Would you accept this job offer???

Originally Posted by TiddlyPom View Post
There are agents who pay basic salary, but they're becoming rare on the ground but they do exist.
If he's licensed then he can (in NSW - not sure about elsewhere) work for commission only by having his own company.... then working under the umbrella of the RE company name... bit weird but new regulation for licensed agents.
The issue with RE is really the market and whether your other half thinks he can sell enough to make enough... and given those terms, I would try to find another agency who can offer better than this....
Thanks Tiddly-he's got another job offer outside the industry with a 40K proper basic plus comms. Think he's going for that-at least the risk factor isn't there plus no work on Sundays!
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Old May 15th 2008, 5:22 am
  #15  
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Default Re: Would you accept this job offer???

Originally Posted by JoolsB View Post
Yes real estate He doesn't really want to back into this industry (he has other options) but thought if he could get a job with the best company in town he might consider. It is the best company (or one of) but alas unlike in UK where he got a good basic salary (that he was actually allowed to keep!) & a decent comms structure here it is completely different. Oh well, out goes the backup career.....
That was not a difficult thing to guess. Commercial?
Wife used to be a big wig with the RE company before coming here. Local branch was interested but it would mean a hectic life so she decided to take it easy and sell holidays. A good saleswoman can sell sand to beduins.
Moving abroad is a good chance to change things in life.


On the other hand if you have enough money to last until he starts earning decent commisions it might be not such a bad idea. Remember that you can deduct a lot of "normal" expenses from your taxable income (internet, phones ...).
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