PRODUCER VALIDATION SCHEDULE 0
Compensation based on NEW PRODUCER 3-YEAR PROGRAM
IF YOU ARE USING THIS VALIDATION SCHEDULE, PLEASE ENTER THE NUMBER “1” IN THE CELL TO THE LEFT (B3)
Year 1 Year 2 Year 3
BASE COMPENSATION $45,000 (enter base compensation at the beginning of each year)
Validation Schedule for Year 1 (enter 1,2, or 3)
Please enter Base Compensation Above
NOTE: Enter data to outlined cells only. All other cells contain formulas and are locked
Producer Name: Producer Name Enter Producer Name
Compensation Desired 45000 Producer’s desired total annual compensation
Initial Salary/Draw 45000 Salary or Draw offered by the agency NOTE: ENTER BASE COMPENSATION IN APPROPRIATE CELL (E5,F5,G5)AND NOTE VALIDATION YEAR IN E6
Prior Year Total Gross Commission 0 Combined New and Renewal Commissions written for Prior Year (renewable)
Commission Credit Toward BaseComp 100%
Renewal Commission Expectation 90% 0 Expected Annual Commissions/Fees from Renewals at a projected retention rate
Comm. Earned on Production in Excess of Base 25.0% Producer Commission for production in excess of Baseline
Comm Req to Base Comp 45000 Commission Production required to satisfy initial salary/draw – MINIMUM COMMISSION SALES GOAL
Comm Req to Desired Comp 45000 Commission Production required to satisfy desired compensation total- TARGET COMMISSION SALES GOAL
Total Production Required 45000 Total Commission to be written in order for producer to achieve Target Sales Goal (desired compensation level)
Average Expected Account Size 500 Target account size(Commission)
Required Annual Number of Sales 90 Line 10 divided by line 11
Expected Proposal to Sales Rate 50.0% Percentage of proposals expected to be sold
Required Annual Number Proposals 180 Line 8 divided by line 9
Exepected Sales Call to Proposal Rate 17% Enter the total times the Producer is expected to call on an avg prospect before reaching the Proposal stage in L35 6
Or enter the % expected Sales Call to Proposal (quote) Rate in cell G35.
Required Number of Sales Calls 1080 Line 14 divided by line 15
Weekly Targets:
Sales Calls 22
Proposals 4
Sales 2
Weekly Annualized Premium 7200 at avg comm rate of 12.5% Agency average comm rate
Weekly Annualized Commission 900 for type of business to be sold
by producer
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