The question comes up quite often. How much can you make as
a broker in this business? Yeah, because it's a
commitment it is especially if it's a hundred percent commission. Yeah,
some companies pay base salary, right? But Jen
in general in sales. You need to know. What is the
upside? What can I make by putting my Blood Sweat
and Tears into this business. I'm going to
be a broker of somebody.
I don't care if it's business loans or MCA equipment financing mortgages. Whatever
you want to know you want to know what's the potential and
there is not a lot of public data as
to what one can make yeah in the unsecured small
business finance space. It's one of those things
where you see there. The help wanted ads that say
makes six figures. Yeah, but you never really
meet the person who's making who's making right or you meet the person
is making it but you're not sure if it really making it Instagram makes it
look like they're making it. Yeah, but you're not sure there's no data. It's
one of those things where you're not really sure what the upside is.
So you kind of rely on what your friends are telling you. Yeah. Now we
have an actual chart. There was
a survey conducted a legitimate survey conducted Not
By Us by some other group that polled those in
the equipment Finance space equipment Finance Brokers. They
call them Originators. Right? What do you making in compensation?
They looked at sales people that were working
for Brokers. They looked at sales people that are working for actual lenders sales
people that were working for banks, right?
But ultimately The Originators the Brokers the commissioned people
in the process, what are you making
and they put it all onto a chart for us which is
helpful because equipment financing in particular
equipment leasing that whole industry it overlaps with small
business lending and MCA and the
world that we talked about. Yeah, and so it's good to know if you can make
that kind of money over there.
Either a you should add those products to your tool belt.
Yeah or two. Maybe you should
consider that that is the potential that you could make in
this industry on its own, right? Yeah. So now we
have a chart. Yeah. We have a chart. No, we do. We do
have a chart and
I'm Gonna Let You Johnny struggles with
the pie chart? That's okay. We actually we included a link
to this chart online. We do not have our own. I don't think
we had our own seven article about it. I think we just linked to this chart. I think
we did. I may have shared it on Facebook to get
people's feedback on it. And you know what it was kind of the same thing where
people didn't really want to comment on it because they didn't want to give away either.
You know, that's not what I'm you know, that's not what I'm
making. Yeah what they don't maybe they're the owner of a company. That's not what
they're reps are making. Yeah. So even then when I shared this data
online people didn't really want to talk about it. Yeah, but too
bad. Yeah, we are going to talk about it right now. This is
what we learned. This is what Johnny was mentioning before that according
to this chart.
Seven and a half percent of Originators salespeople,
whatever you want to call them and the equipment Finance space.
Made less than under 75,000 in
annual compensation for 2022. That's
an extremely small percentage. Which
means that the rest are making
more than 75,000. That's good.
It's a good Baseline. That's a good Baseline. You're if you
put in some time into the business, you're pretty much guaranteed to
make more than 75,000 a year.
So how big of The Upside well
it goes all the way to the top right where you
ask do you make an excess of $300,000
and 28% of
respondents that they make in excess
of 300,000.
That there's a real upside number. Yeah, that's because
people say six figures they don't know if you're talking about one hundred
thousand dollars in one cent They that could be what they're
talking about six figures if it's six feet. You know what I mean? What are we talking about? We say
six figures we talk about 100,000 we talk about 900,000. Give me
a number 28% of people
polled in this survey.
Reported making more than $300,000 now here's
what's really cool 30% 30.1% made
between two hundred and three hundred thousand
dollars. So if you combine those two categories that's 58.1%
or making more than 200,000 a
year more than half make more
than 200,000 a year.
I can see the pie chart the truck. Yeah, here is the pie
chart we can share the chart online again. So
those of you can see it now.
It's possible some people lied or we don't
know all the specific details behind it. But this is
the best we've got but I think it's it's safe to say
that over half of them ain't thousand dollars.
I made more
than a hundred. Yeah. Well, we know we know more than 70
8% made more than 125,000. So
yes, yes more than half more
than half maybe 100 but you know, I think that's
to show you like those six figures are reality. You
know that you people could make that and I think it depends
how hardcore you want me because some people are happy with six figures and you go 100,000
a year. They're happy. Yeah, some people happy with it. Yeah, whatever
300,000, you
know over 300,000 and
um, but you said you're pretty much guarantee at
least 75,000 you if you put
in the time you put in the work the day to shows that's what
you will make. That's what people made at least
in 2022. Yeah. Now it's interesting in that the top
was in excess of 300,000 and 28% of
that said they fall into that category. I wonder how many
people would have been an excess of 500 and I
wonder how many would have been in excess of 1 million. I
Would not be shocked to find that somewhere in
excess of 1 million. That group is probably very small. Yeah, but it's
out there and it's a reality. I think it is possibly possible that
that has occurred. This is the best data that
we have in terms of what a brokers in a related
field. Yeah make and I think
if you're out there wondering what is the outside this is something you should
use for inspiration not some help wanted it as
it says make six figures blah blah, you know, don't get
someone Instagram to try to gauge how much they're making this is what people told
you know, this is what they they said in an actual survey.
Hey, here's what I'm making knowing full well that they weren't going
to be judged right their name is not attached to it. So we don't know
who these people are in particular.