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You are here: Home / Career Year / Sell More To Make Less – The Downside Of Wholesaler Success

Sell More To Make Less – The Downside Of Wholesaler Success

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Oh what a year it was.

One of the amazing years in which the stars aligned for most firms/wholesalers in a way that hasn’t been experienced in years.

Most of our clients had record or near record years, both in tonnage (dollars in the door) and income.

How about you?

And, just as your goals and compensation were hopefully set to reflect the recovery of prior years, the year ahead is likely calibrated to build on last year’s success.

That means that for many wholesalers the sales goals for the new year will be built on top of the huge successes of the last year.

It also means you will be asked to sell more – and potentially make less.

A former CEO of a tier one mutual fund distributor put it this way:

“The budgets (this includes sales targets, expense budgets, compensation, etc.) for 2013 were build on two assumptions:

1) Modest performance of the markets
2) Modest assumptions in expectation of dollars raised

Conversely, the budgets for 2014 were based on the successes of 2013 – which were the best in a decade.

Which also means that compensation was reset to the success of 2013″

Said another way, courtesy of 2013, your region now has a new production high water mark from which your 2014 compensation was set.

And that comp was set to reflect standard wholesaler income for your firm – not the blow out year we hope you just had.

What That Means For Wholesalers

Wholesalers who had a financial windfall in 2013, and are expecting to build on that in 2014, may be in for a rude awakening.

If you are a newer wholesaler that has cut their teeth over the last five years, and finally saw the income fruits of your labor in 2013, here’s an important concept that we want you to know/remember:

You will be overpaid in bull markets and underpaid in bear markets.

Tweet this quote!: You will be overpaid in bull markets and underpaid in bear markets. via @shorespeak

If you are a seasoned veteran, one who has stayed the course over the last five years and finally saw significant financial daylight in 2013, we offer a reminder to a concept you knew (and likely forgot):

You will be overpaid in bull markets and underpaid in bear markets. 

Some of the best advice we received about comp in wholesaling suggested that we view our career income in aggregate – some years will be stellar, other years less so.

Wholesalers who take the long view of their income, manage their finances prudently, and don’t leverage up (bigger house, better car, new boat, etc.) after fabulous upticks like the last year, will be well positioned (mentally and fiscally) for many years to come.

Let us help you make the most of every year wholesaling has to offer – contact us for more information about Wholesaler Masterminds® Coaching for wholesalers, divisional managers, and national sales leaders.

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About Rob Shore

Over 30 years of distribution experience provides the knowledge and granular insights Rob's clients require to assist them with their practices - whether working one on one, in groups, or live events; with senior leaders or frontline wholesalers. [Read More or Contact Us]

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