Summary: Would you take $12.42 an hour (plus commission)? Because that's what you're being offered. $14 an hour if you have a Bachelor’s. I'll be a good sport and show my work.
The process is rigorous. There are many interviews and many steps to the process. TQL is hiring aggressively and I want to make sure you understand what you are being offered before you are lured into receiving less pay than you already make.
There are two BIG points working against TQL. The Hours, and The Salary. (I have not forgotten about Commission)
The Hours: You are expected to work 50 hours per week, this is fairly standard in many places. In TQL, you also MUST work TWO Saturdays every the month while in training, and ONE Saturday every month after training. You work an extra Saturday every once in a while. No big deal. (You are also expected to be "on-call" 24/7/365).
To summarize, you are expected to work 40 "Regular Time" hours, 10 "OverTime" hours per week, plus 12 Saturdays of the year (18 Saturdays during your first year).
40 Hours regular,
10 Hours Overtime,
1 extra Saturday per month, 2 during training
On-call 24/7/365
How does this translate into pay? I'll explain. You will be offered $35,500/year salary or $40,000/year if you have a Bachelor's. I'll stick to the $35,500, since most people with a Bachelor's will easily receive better offers.
I will break down the math now: Let's say you make $12.42 per hour.
You work 40 hours per week. $12.42 x 40 = $496.80
52 weeks in a year. $496.80 x 52 = $25,833.60
At $12.42 your overtime pay is $18.63 per hour.
Required to work 10 hours of overtime per week.
$18.63 x 10 = $186.30
52 weeks in a year. $186.30 x 52 = $9,687.60
Add it up: $25,833.60 + $9,687.60 = $35,521.20
Remember, I didn’t calculate Saturdays into it (or being on-call 24/7). TQL is paying you EVEN LESS than $12.42 per hour (plus commission).
"But I can make up for it with commission!" Sike! Let's say you make $15 dollars per hour (40 hours regular time, 10 hours OT, per week.) You'd be making $42,900. To make that much as a TQL Broker, you'd have to make $171,600 IN PROFIT for TQL, 25% of which will go to you. Which would be: $42,900 ($15 per hour). And god-forbid you miss your commission schedule, if you do you’ll have a lot of making up to do.
So just go apply at Target or something. You’ll be better off.
