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SHOCKED - Less than 15,000 Nairobian's earning above 100k
Impunity
#91 Posted : Wednesday, July 16, 2014 12:55:46 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
icecube wrote:
kysse wrote:
icecube wrote:
smano wrote:
Just seen this thread.

I'm in the insurance business and around 200 - 300 of our agents make at least over Ksh.100k in commissions every month. When you compare that with the number of agents we have ( just around 2,000 agents) then that figure of 15,000 sounds feasible. I was surprised to find out from the Haas Consult property survey that there are only 20,000 mortgages being serviced in Kenya - I thought it was a typo and that they meant 200,000!

Just goes to show you the disparity there is in this country...

Hey, in your insurance business, are these agents earning over Ksh100k in commissions per month because they bring in new clients per month or they earn the commissions on monthly premiums paid? or Even if they don't bring in any new clients?


also waiting for feedback..


Still waiting....


Mtangoja sana.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

icecube
#92 Posted : Wednesday, July 16, 2014 8:49:40 PM
Rank: Member

Joined: 1/2/2008
Posts: 268
Location: Nairobi

So it seems that it is actually true, very very few Nairobians earn above 100K! Stories of very many guys making over 100k may just be stories, given a chance, everyone would want to exaggerate their earnings.
real cindano
#93 Posted : Wednesday, July 16, 2014 9:25:54 PM
Rank: New-farer

Joined: 6/1/2010
Posts: 87
Location: Zimbalabala

MV_Ufanisi .... I totally agree with you. Get it done. I have learnt the hard way that that is what it takes. I have lost money but what I have learnt from those losses is worth several MBAs.

There is a lot of opinions that float about on this site and most people just imagine and never get to doing. Apart from the stock section where rubber meets the road with several people acting on their stock picks in the group, SME and market sections there is a lot of opinions and very little action.

In fact from the opinions I read here majority have never actually never done anything and the few who are doing stuff are only coming to get ideas and maybe contacts and then get back to implementing and getting things done.

mawinder
#94 Posted : Thursday, July 17, 2014 7:40:05 AM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
real cindano wrote:

MV_Ufanisi .... I totally agree with you. Get it done. I have learnt the hard way that that is what it takes. I have lost money but what I have learnt from those losses is worth several MBAs.

There is a lot of opinions that float about on this site and most people just imagine and never get to doing. Apart from the stock section where rubber meets the road with several people acting on their stock picks in the group, SME and market sections there is a lot of opinions and very little action.

In fact from the opinions I read here majority have never actually never done anything and the few who are doing stuff are only coming to get ideas and maybe contacts and then get back to implementing and getting things done.


Welcome back!!!!!!!!!
real cindano
#95 Posted : Thursday, July 17, 2014 10:26:44 AM
Rank: New-farer

Joined: 6/1/2010
Posts: 87
Location: Zimbalabala
mawinder wrote:
real cindano wrote:

MV_Ufanisi .... I totally agree with you. Get it done. I have learnt the hard way that that is what it takes. I have lost money but what I have learnt from those losses is worth several MBAs.

There is a lot of opinions that float about on this site and most people just imagine and never get to doing. Apart from the stock section where rubber meets the road with several people acting on their stock picks in the group, SME and market sections there is a lot of opinions and very little action.

In fact from the opinions I read here majority have never actually never done anything and the few who are doing stuff are only coming to get ideas and maybe contacts and then get back to implementing and getting things done.


Welcome back!!!!!!!!!


Hi Mawinder are you still doing road constructions? Asante sana!
mawinder
#96 Posted : Thursday, July 17, 2014 11:05:50 AM
Rank: Elder

Joined: 4/30/2008
Posts: 6,029
real cindano wrote:
mawinder wrote:
real cindano wrote:

MV_Ufanisi .... I totally agree with you. Get it done. I have learnt the hard way that that is what it takes. I have lost money but what I have learnt from those losses is worth several MBAs.

There is a lot of opinions that float about on this site and most people just imagine and never get to doing. Apart from the stock section where rubber meets the road with several people acting on their stock picks in the group, SME and market sections there is a lot of opinions and very little action.

In fact from the opinions I read here majority have never actually never done anything and the few who are doing stuff are only coming to get ideas and maybe contacts and then get back to implementing and getting things done.


Welcome back!!!!!!!!!


Hi Mawinder are you still doing road constructions? Asante sana!

I am now employed but planning to start leasing construction equipment.
dunkang
#97 Posted : Tuesday, July 22, 2014 2:51:55 PM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
Okay. So all this Toyota i see around town parked kumbe sio mingi sana. THERE ARE ONLY 7,000 public parking spaces in Nairobi.
Receive with simplicity everything that happens to you.” ― Rashi

icecube
#98 Posted : Tuesday, July 22, 2014 4:32:55 PM
Rank: Member

Joined: 1/2/2008
Posts: 268
Location: Nairobi
dunkang wrote:
Okay. So all this Toyota i see around town parked kumbe sio mingi sana. THERE ARE ONLY 7,000 public parking spaces in Nairobi.


My friend, Nairobi CBD ama Nairobi County? But yes, some of these Toyota belong to companies
smano
#99 Posted : Monday, September 22, 2014 4:23:59 PM
Rank: Elder

Joined: 12/13/2006
Posts: 2,589
icecube wrote:
smano wrote:
Just seen this thread.

I'm in the insurance business and around 200 - 300 of our agents make at least over Ksh.100k in commissions every month. When you compare that with the number of agents we have ( just around 2,000 agents) then that figure of 15,000 sounds feasible. I was surprised to find out from the Haas Consult property survey that there are only 20,000 mortgages being serviced in Kenya - I thought it was a typo and that they meant 200,000!

Just goes to show you the disparity there is in this country...

Hey, in your insurance business, are these agents earning over Ksh100k in commissions per month because they bring in new clients per month or they earn the commissions on monthly premiums paid? or Even if they don't bring in any new clients?


Wololo!!! Poleni sana, I totally forgot about this and didn't think there was any interest..seems @Impunity knows me well....in terms of the threads I contribute in the most.

Anyway, the most insurance companies in the country pay around 40% commission on premiums for every premium received.

In most scenarios, you'll earn 40% per premium for the first year, then 20% per premium for the 2nd year and maybe 10% year 4-5 and then 5% from year 5 to 10.

So you're basically earning for all previous biz and any new biz for as long as the client is paying premium.

If your client is a good client and pays premiums consistently for 1 year (12 months), we give you a 13th month persistency bonus (paid after 15 months, technicalities of when a policy is considered as lapsed). That 13th month persistency bonus is a percentage of all commissions earned in that 1 year, and there's also a 25th month and a 37th month bonus.

Ofcourse selling insurance is very challenging but the guys doing it very well are extremely successful. Remember tax is 10% withholding
BEER IS LIVING PROOF THAT GOD LOVES US AND WANTS US TO BE HAPPY!
its2013
#100 Posted : Monday, September 22, 2014 8:05:07 PM
Rank: Member

Joined: 1/4/2013
Posts: 255
Now I see why my insurance agent treats me like family smile
Pretty hurts
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