Highest-Paying Careers by Commission
Careers that involve earning an income that is based on commission may seem risky to some individuals, as annual income is not constant. However, many commission-based jobs give workers the ability to earn very high salaries according to their performance. We will look at five jobs below that are some of the highest-paying careers in which income is based on commission.
|Job Title||Median Salary (2016)*||Job Growth (2016-2026)*|
|Securities, Commodities, and Financial Services Sales Agent||$67,310||6%|
|Real Estate Broker/Sales Agent||$46,410||6%|
|Personal Financial Advisor||$90,530||14%|
Source: *U.S. Bureau of Labor Statistics
Information About Best-Paying Jobs by Commission
As a sales engineer, you will be responsible for explaining the technical aspects of various types of scientific and complex products to potential clients in hopes of making a sale. Some of your responsibilities could include demonstrating how the product works, making sure that the product fits the needs of the potential client and making changes to the product if necessary, securing orders, and answering client questions. While some of these professionals earn a combination of salary and commission, some sales engineers work entirely off of commission. The median annual wage for these professionals in 2016 was $100,000 and the top ten percent earned over $166,500 annually. To become a sales engineer, you will typically need to have a bachelor's degree in a field like engineering or a science-related field, though some may also have degrees in business.
Securities, Commodities, and Financial Services Sales Agent
Securities, commodities, and financial services sales agents work in a variety of different capacities, though all of them are generally trying to connect buyers with sellers. For example, a broker may work with individuals who want to buy securities and commodities and provide them with investment advice, while a floor broker may work on the floor of the trading room and negotiate deals and prices after traders place orders. These professionals, who earn an income based on a percentage of the products they sell, made a median salary of $67,310 in 2016 while the top ten percent of workers in this field earned over $208,000. To become a securities, commodities, and financial services sales agent, you will usually need a bachelor's degree to be qualified for entry-level jobs and an Master of Business Administration to advance.
Sales managers are responsible for managing all of the sales-related activities for a business or organization. This could include setting sales goals, assigning territories to sales representatives, developing pricing strategies, training staff, and responding to customer complaints and resolving issues. Sales managers may have a salary in addition to earning a commission based on the sales made. In 2016, these professionals made a median salary of $117,960 with the top ten percent earning over $208,000. To become a sales manager, you will typically need to have a bachelor's degree and experience working as a sales representative.
Real Estate Broker/Sales Agent
As a real estate broker or sales agent, you will be responsible for working with individuals who want to either buy or sell different types of property, like homes, retail space, or land. You will work closely with clients to help them understand the process of buying or selling property, try to gain a clear idea of which type of property they or looking for or at what price they would be comfortable selling, and then finding properties or buyers that meet the clients' needs. While the median salary for real estate brokers and agents in 2016 was $46,410, it is possible to earn much more through commission, as the top ten percent of brokers earned over $162,260 and the top ten percent of agents earned $112,570. To become a real estate broker or agent, you will need to seek licensure through the state in which you intend to work.
Personal Financial Advisor
Personal financial advisors work with clients who are in need of advice and guidance regarding their personal finances. They may help set up different types of savings accounts for clients to help them plan for retirement or sending their children to college, provide them with information about insurance plans and policies, and assist them in making decisions regarding investments. Depending on your employer, your income may be based entirely on commission. As of 2016, the median annual wage for personal financial advisors was $90,530, though there is the potential to earn much more as the top ten percent of workers in this field earned over $208,000. To become a personal financial advisor, you will usually need a bachelor's degree and various licenses and certifications depending on the specific type of work you do.