ADVERTISEMENT

JOB ADVICE

VUWildCat2003

VUWildCat2003

Bleeds Villanova Blue
Gold Member
Nov 5, 2003
9,262
642
113
This is going to be a bit long but the quit my job to travel thread got me thinking if any of you work in areas that are high paying, enjoyable, and hiring, especially in the New York area. If any of you have any advice about your own experiences or any other advice please share.

Some background about me, I graduated 2003, got my first job in 2004 and worked on Wall Street until 2012 in fixed income sales, worked at an internet startup in NYC for a year in business development, and now work as an insurance broker at a small agency that focuses on contractor's insurance. I probably would have stayed on Wall Street but the area I was in seemed to be shrinking and I just didn't want to sit around worrying about losing my job again which seemed like what was going on with everybody in that area at the time so I knew I had to make a change.

I am 34, and although I see myself eventually getting married, having kids, and doing the whole suburb thing, I still look and act like I am probably about 27, so I'll probably be one of those guys who gets married when he is about 40. I am in no rush and since I am a dude and my biological clock isn't ticking like a women's, I have the luxury of doing so.

Anyway, I know at this point I should probably settle into something so by the time I am 40 I will be established and moving up the ladder, making more money, etc. but since I am not taking care of anybody but myself at this point I do have some freedom to look around a bit.

I have a sales background. I like dealing with people and I think I am good at it. With that being said, I don't like the type of sales that depends on cold-calling to make a living. I know sometimes it is necessary but I think in this day and age if you are still using those methods you are already behind. I also don't mind insurance and am at a small agency and am wondering if maybe I went to a larger broker like Aon, Gallagher, Willis, etc. might be a smart move as well.

I ALSO worked at an internet startup though and realize the world is changing so I know there are all types of different opportunities out there that I might not even know of.

Anyway, sorry for the novel, but figured what the hell. Maybe some of the guys on this board who aren't trying to be comedians might have some valuable advice and know of different opportunities, areas and/or companies that I should look into.

Thanks in advance,

VUWC03
 
I would advise against trying a career in a large company either in banking or insurance. There is no longer the growth of 20 to 30 years ago and most who work there seem to be miserable. There are tons of smaller companies with different business models out there. Many entail technology and higher end service. Through networking and a lot of Google searches you need to identify these smaller companies and which ones matches your interests and skill sets.
 
Do you value stability? Potential for growth? Current Salary?

What is your depth of insurance knowledge? Describe what you mean by contractor's insurance. Surety bonds?

Would you want to stay in sales? Would you want to work directly with policyholders? Or marketing to agencies on behalf of an insurance company? Underwriting? What level position would you expect to fall into.

This is not a standard "taking questions" barrage. Probing to see if I can help.
 
  • Like
Reactions: kjbert
VUWildCat2003 said:
This is going to be a bit long but the quit my job to travel thread got me thinking if any of you work in areas that are high paying, enjoyable, and hiring, especially in the New York area. If any of you have any advice about your own experiences or any other advice please share.

Some background about me, I graduated 2003, got my first job in 2004 and worked on Wall Street until 2012 in fixed income sales, worked at an internet startup in NYC for a year in business development, and now work as an insurance broker at a small agency that focuses on contractor's insurance. I probably would have stayed on Wall Street but the area I was in seemed to be shrinking and I just didn't want to sit around worrying about losing my job again which seemed like what was going on with everybody in that area at the time so I knew I had to make a change.

I am 34, and although I see myself eventually getting married, having kids, and doing the whole suburb thing, I still look and act like I am probably about 27, so I'll probably be one of those guys who gets married when he is about 40. I am in no rush and since I am a dude and my biological clock isn't ticking like a women's, I have the luxury of doing so.

Anyway, I know at this point I should probably settle into something so by the time I am 40 I will be established and moving up the ladder, making more money, etc. but since I am not taking care of anybody but myself at this point I do have some freedom to look around a bit.

I have a sales background. I like dealing with people and I think I am good at it. With that being said, I don't like the type of sales that depends on cold-calling to make a living. I know sometimes it is necessary but I think in this day and age if you are still using those methods you are already behind. I also don't mind insurance and am at a small agency and am wondering if maybe I went to a larger broker like Aon, Gallagher, Willis, etc. might be a smart move as well.

I ALSO worked at an internet startup though and realize the world is changing so I know there are all types of different opportunities out there that I might not even know of.

Anyway, sorry for the novel, but figured what the hell. Maybe some of the guys on this board who aren't trying to be comedians might have some valuable advice and know of different opportunities, areas and/or companies that I should look into.

Thanks in advance,

VUWC03
Click to expand...
Get a job in a big company. Work your ass off while learning EVERYTHING you possibly can about the field and the GOOD things the company does. After 2-3 years, quit and open your own company in your selected field. You'll love being self-employed! Best of luck in whatever you decide to do.
 
Cold calling sucks but it's hard to argue with the results if you're good at it. I feel like ND always asks how much people make, pretty sure no one has told him yet.
 
I have a friend at Empire Wealth Strategies, he seems to like it.
 
tjc3844 said:
Get a job in a big company. Work your ass off while learning EVERYTHING you possibly can about the field and the GOOD things the company does. After 2-3 years, quit and open your own company in your selected field. You'll love being self-employed! Best of luck in whatever you decide to do.
Click to expand...
Typically big companies don't allow you to learn everything, smaller ones do. This isn't the 50s anymore.
 
  • Like
Reactions: kjbert
nardibynature123 said:
Typically big companies don't allow you to learn everything, smaller ones do. This isn't the 50s anymore.
Click to expand...
Wrong! You can learn plenty by working for a large company. And, as usual, your reading comprehension difficulties kicked in and you changed what I said in my post. I said "learn everything you can."
 
tjc3844 said:
Wrong! You can learn plenty by working for a large company. And, as usual, your reading comprehension difficulties kicked in and you changed what I said in my post. I said "learn everything you can."
Click to expand...
I see, my bad on the second part. However, Big Companies now try to limit their workers so they specialize in just 1 task and can become experts on that subject.

It is smart, make them real good at 1 thing and terrible at everything else.
 
NovaNation1188 said:
Cold calling sucks but it's hard to argue with the results if you're good at it. I feel like ND always asks how much people make, pretty sure no one has told him yet.
Click to expand...

You're thinking of Merc. Hes insecure and constantly asks people to compare against his own "big law" salary.
And I actually told him in my TQ.
 
  • Like
Reactions: kjbert
nardibynature123 said:
However, Big Companies now try to limit their workers so they specialize in just 1 task and can become experts on that subject.
Click to expand...

Depends on the corporate culture and corporate bottom line. Some are hellbent on cutting expenses to the bone (often because their business model isn't great and they are struggling to stay afloat). Some have a more open-minded approach and would love it if you wanted to explore different functional areas.
 
NorCalVU10 said:
What am I missing?
Click to expand...
Ahhh... I see what you guys mean.

I posted this:
"Do you value stability? Potential for growth? Current Salary?"
But meant it like this:
"Do you value stability, potential for growth or current salary?"

It's tricky to find all three of those at once. So it's important to know which takes priority going forward. I could care less about what he makes now.
 
Work for a company that sells "sin"

Fatty foods. Cigarettes. Alcohol.

Could try Kraft, Altria, Diageo. All have sales roles. But not cold calling. You're in charge of selling Kraft Mac and cheese to Walmart in Minnesota. Stuff like that.
 
I would NOT try to go the big company route. You get slotted into one particular position and get stuck. Network and keep your ears open to look for a smaller company where you can be an active player and potentially ride the wave up and learn most aspects of the company in the process. I have been with both and I would absolutely steer away from the larger companies.
 
tjc3844 said:
Get a job in a big company. Work your ass off while learning EVERYTHING you possibly can about the field and the GOOD things the company does. After 2-3 years, quit and open your own company in your selected field. You'll love being self-employed! Best of luck in whatever you decide to do.
Click to expand...

So it's that easy? As in go work for Apple just 2-3 years and then open your own computer company? gr8 advice.
 
How is the bulge bracket these days? Did the wolf of Wall Street kill it, or are our young nova grads still killing it!? Where are the wall st firms located now that Broadway to water st has turned residential?
 
Full Marx said:
So it's that easy? As in go work for Apple just 2-3 years and then open your own computer company? gr8 advice.
Click to expand...
Nobody said it was easy but, yes, it's very possible if you've got what it takes and willing to put in lots of hours.
 
NickleDimer said:
Do you value stability? Potential for growth? Current Salary?

What is your depth of insurance knowledge? Describe what you mean by contractor's insurance. Surety bonds?

Would you want to stay in sales? Would you want to work directly with policyholders? Or marketing to agencies on behalf of an insurance company? Underwriting? What level position would you expect to fall into.

This is not a standard "taking questions" barrage. Probing to see if I can help.
Click to expand...

I desire all of the above, but since I live in New York/Long Island, and you have to make about $200,000.00 a year to feel like a human being, making money is something that unfortunately needs to be a priority. So salary.

Also, NN1188, what cold calling jobs do people make a lot of money?
 
The agency I work for specializes in contractor's insurance. 75% of what I do is General Liability and then the rest is Workers Comp, Disability, Commercial Auto, that sort of thing. An example of a client would be a guy who does $100,000.00 gross sales and he does a range of things like drywall, interior painting, kitchen/bathroom renovations, etc. We do online advertising and have a media/marketing company make sure we show up high on Google searches. We also use Netquote so we don't do cold calling.

I have my P&C Insurance license as well as my Life, Accident and Health. I have been doing this for about a year and I really don't know what life would be like at an AON or a Willis or a Gallagher, but it seems like the Broker jobs I've looked at on LinkedIn and Indeed for companies like this you are almost provided a book of business to work with and obviously you can build it up as well.

I guess for me, since I have a lot to learn still, but at the end of the day insurance is plain English and I can pick it up, my ideal situation would be to work with a Senior guy or a small group who is established, has a book that he/she/they needs help with, and can learn that way and move up in a company.

I am not looking to change jobs every 2 years, that is part of the reason I left the startup/digital media world because it seemed like that was what everybody was doing.

Sorry for the novel but this should make things a bit more clear.
 
Are people really not motivated by salary? Unless there are big swings in having a life outside of work and the work environment itself wouldn't salary be number one on the list if we are being honest? I know some come on hear and say they are unmotivated and lack the desire which typically means they dont believe they have the skill. In reality who doesn't want to make more money?
 
pipermal1 - I think it depends on how comfortable you want to be in life. Both my wife and I combined make a much better than average salary, but not at the expense of our home life. When we were young with no kids, we worked our tails off to get ahead in where we were working. Once kids come along, things change. We had socked away a good amount of retirement money and we were still making a good chunk of change, but at that point in our lives we had more important priorities. We live very comfortably based off of hard work early in our careers and now we can enjoy ourselves, even with 2 Villanova tuition payments.
 
VU82 said:
pipermal1 - I think it depends on how comfortable you want to be in life. Both my wife and I combined make a much better than average salary, but not at the expense of our home life. When we were young with no kids, we worked our tails off to get ahead in where we were working. Once kids come along, things change. We had socked away a good amount of retirement money and we were still making a good chunk of change, but at that point in our lives we had more important priorities. We live very comfortably based off of hard work early in our careers and now we can enjoy ourselves, even with 2 Villanova tuition payments.
Click to expand...

Thank you for the second consecutive self-felating post about how hard you work and how successful you are, while completely ignoring the original point of the thread.
 
I was just responding to the post above asking whether or not salary was the most important motivating factor. Sorry if you think I'm being pompous, but if you really knew me, you would know that I am far from that. Thanks for jumping to conclusions.
 
VUWildCat2003 said:
The agency I work for specializes in contractor's insurance. 75% of what I do is General Liability and then the rest is Workers Comp, Disability, Commercial Auto, that sort of thing. An example of a client would be a guy who does $100,000.00 gross sales and he does a range of things like drywall, interior painting, kitchen/bathroom renovations, etc. We do online advertising and have a media/marketing company make sure we show up high on Google searches. We also use Netquote so we don't do cold calling.

I have my P&C Insurance license as well as my Life, Accident and Health. I have been doing this for about a year and I really don't know what life would be like at an AON or a Willis or a Gallagher, but it seems like the Broker jobs I've looked at on LinkedIn and Indeed for companies like this you are almost provided a book of business to work with and obviously you can build it up as well.

I guess for me, since I have a lot to learn still, but at the end of the day insurance is plain English and I can pick it up, my ideal situation would be to work with a Senior guy or a small group who is established, has a book that he/she/they needs help with, and can learn that way and move up in a company.

I am not looking to change jobs every 2 years, that is part of the reason I left the startup/digital media world because it seemed like that was what everybody was doing.

Sorry for the novel but this should make things a bit more clear.
Click to expand...

What companies do you typically place business with? Do you have any preferred relationships?

If you wanted to move to the company side, one good paths might be:
Become a stud at what you do now - servicing the insurance needs of construction professionals. Get to know everything about it. Get to know your clients. Get to know how they are gaming you and the insurance companies and vice versa. Get to know what they are getting that they don't need and what they need that they aren't getting - both in coverage and service. Know the competitive environment in and out - what rates are, who is slow, who has the best underwriting guidelines. Expand as much as you can in your current setting.

Then bring that expert product knowledge to an insurance company, possibly one that you work with. The value for them would be 1) the connections that you have, drag some large books of business along with you and 2) proposals have to how to improve their offerings and/or process and 3) know how their competition works and how they can beat htem. This would be more on the underwriting side, but could be in agency/broker marketing depending on how the company is organized. They'll pay a premium for you if you're bringing the lots of new business with you or if they're desperate to gain expertise in your specialized in. Construction especially Surety seems very hot right now. Lots of meat on that bone. This applies to any job or specialty and isn't anything revolutionary. Pipermal will scoff at this and tell you to hunker down until the government pays some company to come to your neighborhood and gives you a job in sheet metal fabrication.
 
Thanks ND. I agree with a lot of what you are saying. I always felt it was better to be in a specialty area, to really be the go-to-guy for a certain area like contractors insurance.
 
You're welcome. Let me know if you would like to discuss your specific situation offline.

The downside of specializing in construction is that it sees pretty dramatic ups and downs with the economy. And also ups and downs with major losses, especially with surety bonds. It's all fun and games until one of your insured roofers burns down an apartment complex a few days before completion.
 
You must log in or register to reply here.

Similar threads

J

Kyle Neptune Reportedly Set to Return As Nova Coach

Replies
1
Views
3K
'Nova Nation
Booger3797
B
J

Halftime Check-In

Replies
2
Views
449
'Nova Nation
JoshNaso
J
J

Penn Transfer Tyler Perkins to Visit Nova

Replies
6
Views
1K
'Nova Nation
JoshNaso
J
J

Programming Note

Replies
0
Views
256
'Nova Nation
JoshNaso
J
J

Nova Averts Disaster With Late Moore Three

Replies
1
Views
322
'Nova Nation
Booger3797
B
ADVERTISEMENT

Latest posts

ADVERTISEMENT
Top Bottom
Back