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RE: Looking to join up - 9/13/2006 11:15:19 PM
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Medulus
Posts: 366
Joined: 4/19/2004
Home base: Lake Ariel, PA
Status: offline
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Leu,
The last two years provided an unusual opportunity for people to enter this field and make a good living with minimal training and education. This is not the norm. I can't say it often enough. This is not a get-rich-quick scheme. Though the previous posts about golf pros and playboy bunnies may sound snide, they are actually pointing out something very important. I have a master's degree and had seven years experience and training while I worked on staff for two of the largest carriers in the country before going independent. My first year as a catadjuster I got lucky and received several short assignments that kept me going. The second year I thought I was never going to work again after a five month dry period. In 2000 and 2001 I had some decent years again, but only because I lucked into one claims manager who kept asking for me specifically. I remember watching as several of the best and most experienced catadjusters in the country were forced to leave the profession because they could not find work during those years. I get lots of work now, but there are still occasional dry spells some years.
In 2001 I mentored a man who had lost his job as an engineer. He joined me on my assignments and worked the same hours I did. In 2001 that meant I rolled out of bed and started working first thing in the morning and ended work about 3 AM the next morning, day after day, 7 days a week, week after week. After several months working with me, he set off on his own. Two years later he went back to being an engineer because he couldn't find enough work.
Earlier this year I mentored someone else who had 25 years experience in contracting after retiring as a naval officer. I think he will make a great adjuster. He has yet to be called out on an assignment even though I have put him in touch with the best contacts I know, even though he has taken the prerequisite training in several areas of adjusting.
Could you luck out and get enough assignments to pay for 6 years of college in six months? It could happen. It's also possible you could win the lottery. The first question everyone will ask you is, "Do you have any experience?" And, quite frankly, there will be thousands or even tens of thousands of catadjusters right now who will be looking for work with one or two years experience. You better keep the day job while you look. I won't discourage you from dreaming. I will also not delude you into thinking you found the golden goose.
< Message edited by Medulus -- 9/14/2006 4:46:35 PM >
_____________________________
Steve Ebner
"With great power comes great responsibility." (Stanley Lieber, Amazing Fantasy # 15 August 1962)
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RE: Looking to join up - 9/14/2006 1:45:50 AM
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rass3742
Posts: 131
Joined: 7/6/2005
Home base: Spokane, WA
Status: offline
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Great post Steve. The bottom line: you can't copy experience.
Leu,
Why do you need 6 years of college to enter your profession of choice? Don't they have a 3 day course you could take? Or maybe you could find a professor to ride around with for a week or two.
Does that sound ridiculous to you? Of course it does. So what makes you think our profession is any different? Listen to the number of long-term professional adjusters who struggle to stay busy; these are guys that have anywhere from 3 to 55 years experience.
You have big dreams; that's awesome. I wish you the very best. Unfortunately, a season like last year notwithstanding, there is no yellow brick road.
_____________________________
Things are never so bad they couldn't be worse.
Count your blessings.
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RE: Looking to join up - 9/14/2006 9:56:47 AM
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Tom_Toll
Posts: 551
Joined: 4/19/2004
Home base: Austin, AR
Status: offline
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Good post Steve and very accurate. This is not a fly by night business. A lot of in house training and in field training is required. After all that, you're still not guaranteed work.
< Message edited by Tom_Toll -- 9/14/2006 10:59:48 AM >
_____________________________
Success is not final, failure is not fatal: it is the courage to continue that counts.
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RE: Looking to join up - 9/19/2006 1:03:17 PM
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billhatfield
Posts: 37
Joined: 6/1/2006
Status: offline
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Leu,
First, let me say I am not a qualified, experienced adjuster, just a newbie like a lot around here. But I have kids older than you, so let me tell you what I would tell them.
If you just want to do this to go to college, listen to Gordon and get some student loans. I have been around this long enough, and that's not long, to see that if you really expect to make money here, you better approach this job like any other career and be looking at it from a long term basis. You aren't going to run out and make your college money in a couple years and be free and clear. I put myself through college while working full time and it can be done. And if college is that important, then the sooner you get started, the better. Delaying while you try to make a start as a catadjuster isn't going to get you anywhere unless you want to be a professional catadjuster for a career.
Leu, it's an even bet I won't make a dime this year in this industry, and I have spent a pretty penny on training, but I had the money to do it and I can find other things to do to make money till I get some work as an Adjuster. That is what you are going to have to look at. Do you have the cash outlay to support yourself, train yourself to be a competent adjuster, and do you want to spend that kind of money while waiting for work that might be a while materializing?
A lot of good advice in this thread and in "How Much Money Can I Make"... Would I spend the money again on training that I did this year, knowing that I wouldn't be working right now? Yes, I would, but that's me and I figure I am in this for the long run. Good luck.
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