Commission only positions are not for everyone. The insecurity of not having a regular paycheque is, for some, too unstable. Without question, there are many downsides to holding a job that only pays when you make a deal. But for those that have made their careers from non-salaried positions, they know and appreciate the many benefits from their commissioned-based jobs.
For those who have never been employed in a consignment pay position, there are many added incentives to having a job that has a performance based pay system. Some of them are:
1. Unlimited Earning Potential
Pay for sale or services offers unlimited earning potential. While there are many benefits to having money coming in every two weeks, the income potential is more restrictive. Earning a cheque for work completed offers a bigger, broader earning scale. One sales deal can have a higher payout than many wage earners make in less amount of time.
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2. Rewarded for Your Work
Salaried jobs pay employees to do their job during designated hours. Each person puts their time into their position, knowing that they will be paid for the deemed hours.
Commission sales are based on performance, not hours. A percentage is paid on the transaction that occurs, so the reward is more effort based. Every job can be worth, depending on what the deal’s worth.
3. Flexible Schedules
Although many professional environments are working towards improving the home-to-life balances for their staff, employees are still obligated to work during specific hours of the day, week, or month. Most schedules are quite rigid with their start and finish times, and paid staff do not always have a say when they are scheduled to be at work.
Commission earning jobs have more flexible schedules. For most positions, the employee can set their own hours, so they can choose when to start and finish each day. They can also decide how many hours to put in each week, and can often do some of their work outside the office environment.
While most consignment based employers do not offer benefits packages, that does not mean the staff cannot set up their own private benefits program with a local insurance company. By purchasing your own plan, there are more options on the type of insurance coverage to get.
5. Taxable Benefits
Most salary based positions do not have related expenses that can be used as income tax deductions. Pay-per-contract positions have numerous tax saving expenses related to the job. Because most commission-based jobs offer home offices, many household expenses can also be deducted on annual taxation forms.
6. Vacation Time
Biweekly wage employment typically allows only a certain number of days a year for vacation time. Some companies even have stipulations when you can use your holiday time and when you cannot.
Sales based jobs allow professionals to choose when and how long they can take time off. There are no regulations or policies for holiday time, so personnel can schedule their hours based on personal interests or events, or slow-down periods.
Commissioned jobs have many pitfalls. Monies earned are based on market trends and effort put into a consignment deal. Paycheques are not guaranteed, but when the associate does earn their income, it is typically considerably higher than an hourly wage. The income potential of a commissioned job is unlimited, making this career a desirable and lucrative profession for many non-salary workers.