Newbie with a couple of questions
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Newbie with a couple of questions - 10/5/2005 10:58:15 PM
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Super Dave
Posts: 3
Joined: 10/5/2005
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I am looking into getting my adjusters license and currently need to stay in the DFW area until I get a senior out of High School. Is there really enough local work in a big city to make a good living? Do the disaster areas ie: New Orleans, etc. have the potential to pay the amounts I have heard? $1000 to $5000 per day. I was turned off by "to good to be real" numbers of a disaster area. Of course if it is for real a couple of monthes would be nice for college.
Thank you
David
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RE: Newbie with a couple of questions - 10/5/2005 11:16:28 PM
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JimF
Posts: 1305
Joined: 4/19/2004
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quote:
ORIGINAL: Super Dave
Do the disaster areas ie: New Orleans, etc. have the potential to pay the amounts I have heard? $1000 to $5000 per day. I was turned off by "to good to be real" numbers of a disaster area.
Dave, have you ever heard the expression 'blowing smoke up your skirt'? Exaggerated income and pay numbers are bandied about by newer adjusters hooked on pipe dreams, without taking into consideration the seasonal nature of this business, the high level of expenses, and that any income must be considered net after taxes. So don't let the braggarts and blowhards blow smoke up your skirt. It simply ain't so.
In 34 years in property, I have never seen, heard of, experienced or become aware of anyone making anything close to the upper number you mention, or even half of that amount on any consistent basis.. It is indeed possible for a proficient cat adjuster to reach income levels of the lower number you mention, although I would caution new adjusters not to expect that income level on a first storm, as gross and net income is dependent on more than a few factors, with many usually beyond the adjuster's control.
Local claims usually are worth $35,000 to $60,000 per year to the IA and carrier staff adjusters on salary.
Hope this helps.
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RE: Newbie with a couple of questions - 10/5/2005 11:21:31 PM
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Medulus
Posts: 366
Joined: 4/19/2004
Home base: Lake Ariel, PA
Status: offline
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Dave,
There might be a day where you bill five thousand dollars, but the work that leads up to that takes more than a day. And you will not make $5000 a day every day. And if it looks like you are doing that, be prepared to have most of your files kicked back. Your instincts are correct. $5000 a day is too good to be true. If you are an experienced adjuster, good at what you do, and very efficient, you may make $1000.00 per day for a period of time. Out of this $1000.00 will come your expenses, which are considerable. There is a good living to be made when a catastrophe hits. There is zero income when the catastrophe is over and you are waiting for the next call. I would not go into this business with the expectation of making $1000 to $5000 a day. I love this job, and I make a good living at it. But my advice to you is: Take care of your family first, not just financially but with your presence -- especially during the senior year of one of your children. You'll never get that time back. There will be time to go on the road later. As to whether there is enough work for you in Dallas-Fort Worth, it depends on who you work for and how you market yourself.
_____________________________
Steve Ebner
"With great power comes great responsibility." (Stanley Lieber, Amazing Fantasy # 15 August 1962)
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RE: Newbie with a couple of questions - 10/5/2005 11:21:36 PM
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Super Dave
Posts: 3
Joined: 10/5/2005
Status: offline
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Thank you Jim. That the exact straight word I was looking for. Would being VERY familiar with Autos help in doing Auto adjusting? Does it pay well?
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RE: Newbie with a couple of questions - 10/5/2005 11:28:16 PM
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JimF
Posts: 1305
Joined: 4/19/2004
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Dave, auto appraisal pays much less than property. Automobile physical damage is usually paid on the basis of so much per vehicle ($50 to $125 per vehicle) for the auto appraiser, and bodily injury and property damage to others is generally handled by staff liability adjusters either on salary or on a T&E ("time and expense") basis if they are independents.
Hope this helps.
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RE: Newbie with a couple of questions - 10/5/2005 11:34:09 PM
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Medulus
Posts: 366
Joined: 4/19/2004
Home base: Lake Ariel, PA
Status: offline
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Yeah, what Jim said.
Auto appraiser and/or claim adjuster staff positions usually start around $35,000.00 for the larger carriers. Experienced auto estimators generally are capped at $60,000 by the major companies. Supervisors make no more than $5000.00 over that figure and have all the headaches that go with it. Auto cat adjusters are often paid about $500.00 a day on a day rate.
_____________________________
Steve Ebner
"With great power comes great responsibility." (Stanley Lieber, Amazing Fantasy # 15 August 1962)
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RE: Newbie with a couple of questions - 10/5/2005 11:37:16 PM
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Super Dave
Posts: 3
Joined: 10/5/2005
Status: offline
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This is the kind of outstanding truth I was hoping to find on this forum. It all started with a friend saying hey I heard " yada yada yada" I had a small trucking business for the last 6 years and am now working for one of my customer ans really wanting to back in a line of work more like being in business for my self. But like you said Steve maybe thats why I am home right now to be here through the end of May. I appreciate the encouragement and the forth right of you guys and will continue to gleam what i can from this forum board about the adjusting business.
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