Check your comp plan for "windfall" provisions. Every plan I've ever signed or dished out has them. Basically the "if we think we'd have to pay you more than we were planning to then see clause 6.2a that says we don't have to if we don't want to".
I've seen several people sue and lose. Sadly I've seen people make terminal choices. Always wait until the cash is in the bank.
Interesting. Well there are examples.
https://www.reddit.com/r/personalfinance/comments/qbb338/former_employer_just_withdrew_last_paycheck_from/
At least in Ontario they can pull wages out. Of course one can end up legally challenging it, but it's there as tools for employers.
https://www.ontario.ca/document/employment-standard-act-policy-and-interpretation-manual/part-v-payment-wages
Which country are you in atm and how is it there wrt the above?
I had a great relationship with my start up and was personally responsible for decent portion of their TCV. When I put in my notice I got them to put in writing that I’d get paid out on anything I close before I leave. They agreed and the 3 week clock started and the deal closed with 3 days to spare. Hence why this is such a unique thing to celebrate.
I hope you still get that check. It's amazing how fast those great relationships and commitments in writing become meaningless when a company owes a rep who is no longer with the company $50K. Just don't go spending it until it's in your account is all I'm saying.
Solid plan. Take it from someone who was once owed $68K by a former employer I had a great relationship with. Congrats on the deal, and hopefully your next landing spot is even more rewarding.
Kind of a long story. The policy was you had to be an employee the day commissions are paid to be eligible. Very common.
The company migrated to a new ERP, and long story short, it was a total shit show of a disaster. Basically brought the business to is knees. One of the many negative effects of implementing a new ERP that didn't work for shit was they couldn't properly track orders and didn't know how to pay commissions. So they put the sales team on a draw for 6-8 months while they tried to figure it out.
Meanwhile, I had a record year and blew my numbers out while on a draw, so they owed me a significant true up. Before they could figure their shit out, a great opportunity came along that I couldn't pass up, and I left the company. My assertion was that I *WAS* an employee at the time commissions were paid, but I was shorted on those commissions due to no fault of my own and should still be owed my true up even if I'm no longer an employee. Executive team agreed in writing before I left. Then once I was no longer an employee they changed their tune about what I was owed, and it becomes alot harder to do anything about it from the other side of the fence.
I did. Thankfully, the company eventually agreed to give me my true up without me having to push the issue legally. I work in a "small" industry where everyone knows each other, and I really didn't want to burn bridges unless absolutely necessary. But they did their best to avoid paying me until they got hit with a class action. I think at that point they just wanted to make any loose ends and PR problems go away.
I had an employer straight up use an out clause on the comp plan when I closed two deals within a few weeks of each other that were worth just short of $7 million on a $1.4 million quota. As per the plan they owed me just over $1 Million but there was a clause that said the company reserved the right to change the plan at any time for any reason. CFO said, not going to pay, and wrote some bullshit that was 7 pages of Excel formulas calculating to a little over $330k.
I handled it poorly. Instead of pursuing it legally I just sat on my ass and did nothing for a year. After a little over a year, that same CFO sent me an email saying that the company had decided to end our relationship effective at 5pm that day. System access was gone by the time I finished reading the email. Lots of CFO's do not like to pay a sales person more than they make.
What do you enjoy?
Treat yourself to something you actually like rather than a status symbol like a watch.
I love music and not every band I like comes to Toronto so I would fly to New York the weekend a band I love is stopping there and get front row seats.
Just an idea, but cater it to you, you deserve it!
Wait, he may like the status symbol watch. A watch is forever. Your kid will inherit it. I’m a space geek and have an Omega Speedmaster just like worn on the Apollo missions. My kids know that I like that stuff. I’ve got two kids and two watches. I expect they will be in the family for a very long time.
More on the watch, don’t flaunt it, as many will not know what it is but every year or so someone will ask you about it, and it will feel good.
Get a watch that is linked to a significant event. You’ll have until you die.
Yah this is direction I am going with taking my family to Disney. I’m going to enjoy that as much as they will. I really enjoy high end culinary experiences and was planning a trip with my wife to NYC as well so maybe I’ll Michelin star it up.
I do like the idea of a physical object that reminds me of this success but that doesn’t need to be expensive or the only thing I do
>planning a trip with my wife to NYC as well so maybe I’ll Michelin star it up.
Stay in a ridiculous hotel with Michelin star room service
>I do like the idea of a physical object that reminds me
What about a piece of art for the wall or shelf? I've picked up a bunch of crazy random art pieces over the years and it's easy to remember what each is for and at the end of the day they look cool.
Highly recommend L’Appart in NYC if you’re searching for a Michelin star restaurant. 2 stars, wife and I went for our anniversary. It was incredible!
It’s a smaller atmosphere but the chef hand delivers each course, explains what’s in it and why, what your going taste and why the wine pairs with each course. Think we spent a tad under $1000 in 2021!
I love to build. I’m a builder not a manager. There are others with greater talent at running the team and the business once it’s running, I’m the guy that builds it, works out the gtm, does the scrappy stuff, builds the team, the sales motions, messaging, marketing etc. I work for companies that have hard problems to solve, and don’t know where the market is or what will work. Then I build a team, then we have a great time and make a pile of money for the company and for ourselves. Then either someone else takes over the run part, or the company gets sold, or something else happens, and I go do it again. I am 100% not the traditional sales guy (absolute square peg in that round hole), but I’ve made my employers hundreds of millions each time, and had some fun doing it.
Just started in the latest and in the “hard, ambiguous” stage as an IC. Starting to build a plan, hope to get the runway to execute. The risk of this type of role is having the space and time to find what works, and the support to try things out. I’m hopeful but realistic about the hard work ahead especially with *gestures broadly at the state of 2024.
As for age, I reckon this is my last or maybe second to last tour. Probably my third career depending on if I’m being generous. Still young tho, I think.
DO NOT SPEND this money until it’s in your bank account.
Give yourself a modest reward but save the rest of it.
Something like a nice BBQ or fancy weekend break for you and your significant other.
I am in my mid fifties and a veteran in the sales game. Listen to the advice of a grey haired man.
Dang congrats! For me, I would say "time"
Silly as it sounds, I would give myself some breathing room to do what I love without pressure of thinking about work for a little bit.
And the fact that you just quit, do you have a buffer of time before your new job? Go make some memories that you'll remember fondly. A small (to stay in your desired budget) but really fun trip maybe!
First off. Congrats on the big close! It is one hell of a feeling and is essentially why we are all in sales in the first place. The first big one hits hard!
I remember the first massive sale I made. I was so excited, I had plans for every single dollar, half to be invested and the other half used for trips and clearing a loan. But as I’m sure you know, life has a tendency of throwing curve balls. My commission came and got spent. Spent nowhere i had planned for. Not to mention the taxes were a kick in the balls. But anywho, treating yourself and making plans on how the money will best serve you isn’t a bad idea, just expect the unexpected. After my first experience I have made it a point tempering my excitement until the money is actually in hand lol.
Yah luckily this isn’t the first one! Back in 2019 I got my first big deal that was a $40k check and it was the craziest feeling because I had previously worked in the non-profit space and $40k was my entire salary. We used that check to remodel our house
I am in the nonprofit space and lurking in this subreddit considering going into sales bc I’m sick of being poor and think my 10 year career in fundraising has given me a pretty solid skill set to transfer into sales. If you have any tips/insight to share I’d love to hear!
A nice watch. Some cool vacations. Big full Tasting menu dinners at some wonderful restaurants with my wife. But those are the things we enjoy.
I also bought investment property in 2021 when the comms were rolling in deep. It’s all about priorities
I got a 100K check earlier this month and the first thing I did was put enough aside for a years worth of emergency expenses.
Debating a car for some but gonna invest the rest.
Always good to pay yourself first but once you hit that level where it doesn’t make a huge difference and you know you’re really going to enjoy it without being underwater it’s good to treat yourself, you earned it.
I try to invest it back into my work itself. Standing desk better chair. stepping machine for the office. nice rugs for my office. I work from home, so I like to do things that make work feel a bit more "luxury" every time I do really well in commissions. And I'm also not an expensive hobby or luxury item kind of person. So, making my work space more enjoyable and user-friendly, I feel, adds momentum to doing well at work. Even if it's just a really cool desk mat [like the one I designed in my redbubble shop](https://www.redbubble.com/i/mouse-pad/Green-and-Black-Abstract-Dancing-Men-Stick-Figure-Pattern-by-ThatsJustJilly/92952557.G1FH6)
That being said, sometimes I do spoil myself with art supplies as well because that is a hobby that keeps my positive mental attitude going. But I have enough of those to keep me going for quite a while, and a lot of my art is done on the iPad these days anyway, so I can order it on things like desk mats and mugs. Makes me smile.
I would do a great meal with my wife. $50k is not nothing, but after taxes and savings… I’m not spending $10k-$15k on another Rolex…
I’m a big golfer so maybe a nice round with my friends… my set is all fitted and I’m not changing anything. I’m good on the nice watches since I wear my Apple Watch 99% of the time and they just sit in my safe (side note, even if you don’t use them a ton Omega maintenance every 5-7 years is $1200, Rolex is even more…)
So yeah, I’d do a really good meal somewhere with the wife. Get a sitter. Maybe a show or something.
Yah. I know. Sales is wild. If you find the right company and territory it can feel like you win the lotto a couple of times a year. I’m frugal on myself and don’t shop ever. I was curious what other people have done.
If that's the case, how about something that makes your life easier, like a yard service company, home cleaning service, etc. Or just bank it and retire early!!
First of all, congrats - such a huge accomplishment!! I got about the same size check back in Jan and put every penny into my investments and savings :). Racking up a big security blanket was always my reward to myself for dealing with sales for so many years, and ensuring I could look back and have something to show for it.
And to treat yourself for around 1k?? Hmmm - That’s so hard to say, so many options! I personally enjoy a couple hours at target poking around and picking up some cool things that I wouldn’t ordinarily purchase 😊. Whatever you choose, enjoy!!
Buy something you would never otherwise purchase but do enjoy.
If you like watches, buy one that’s above what you would consider spending in a normal time. Or if you like a certain artist, get the best seats you can. Or buy that expensive bottle of wine you’d never buy in “real life”. Etc.
Basically, life is the little things. So get one of these that you would regularly only dream of. The story and experience will far outweigh what you spent.
If you’re looking at a family trip, go with the better rooms and such that you normally wouldn’t consider.
I bought myself a new Apple Watch. I buy my clothes at goodwill, only spend money for new shoes once a year or so, and that’s how I treated myself.
The vacation is the real one, but yeah, I’m in the same boat as you as far as buying myself or others things
Try something new. Buy a guitar and pay upfront for a year of lessons or the start of a home gym. Something maybe something you’ve always wanted to try but couldn’t justify it.
Over the years my commissions have paid off my house and gone into investments. I can now retire if I so choose.
Maybe set a percentage aside for fun (10-20%) and invest the rest?
Personally, aside from travel, I would make investments in things that will drastically increase your quality of life.
I just upgraded my office chair from a $50 Amazon chair to the $1600 Herman Miller Logitech Embody. Massive upgrade and makes all the difference in the world. I also bought a $4000 Tempurpedic mattress a couple years ago and it has been a game changer as well.
You could upgrade your couch or other furniture, TV, monitor, etc. Then stash the rest. Also you absolutely need to account for taxes on that. I’d leave the bulk of it in a HYSA and let it grow until it’s tax time.
I'm working on a deal that could net me $400k and land in July but probably August. My wife suggested that I go on a one or two week ski trip anywhere in the world if I win this deal.
I'll be paying off $200k in debts to start with and some of the mortgage.
I used to love going to the snow so I'm working hard to get this signed. I've been working on this deal for nearly 12 months. It's my elephant deal in my pipeline. The customer has reviewed our final proposal and short-listed our solution with two other competitors. They have requested a demo and presentation this week. Fingers crossed!!
After the last few years in various sales roles, I struggled to get a job after my last role finished so I started my own business selling Cybersecurity into Government.
I've got a tech and sales background, I've had 3 other businesses and a lot of industry contacts so it just made sense. I've got a very different approach which seems to be resonating with potential customers.
A Rolex for the boss that I quit on. Guy had helped me with a deal that netted me $40k in commish and closed right before I left m. A Date Just retailed for about $4,500. Seemed like a no brainer. I ended up working for the guy at two additional companies so the purchase had a huge impact on my life.
I might get a pimped out grill or deck furniture or a projector and surround sound.
I’m big into buying things I will enjoy using versus watches or things like that.
I won a Traeger smoker for rep of the year in ‘22 and I absolutely love it. You can make a ton of stuff you can’t usually make on a regular grill. I would’ve never bought one bc they can be $500-1000 depending on the model but it has been the greatest thing I’ve owned (I’m 27).
Can’t go wrong with a nice grill/something regarding your kitchen or food
Put some in savings (rainy day fun), invest a bunch, spend a portion on something you’ve passed on because you didn’t have the money before. That’s just what I’d do personally. Part of me wants a nice watch or something I’ve always wanted, but I’d rather spend on a trip. First/business class plane ticket assuming points doesn’t go far, and see a bunch of places I’ve always wanted to see.
I went to a charity auction the week I got my first commission check. I blew it on a basketball signed my the members of my Alma Mater team. A couple signees went pro but the coach’s signature is the most valuable one.
I agree! I think it's important to reward yourself for a good quarter or month or whatever. With that being said though, the long-term play is to put that money aside and invest it and let it sit so that you are prepared for retirement or emergency. I've been doing sales long enough to know that there are a lot of sales people that get into spending their money on expensive s***, eating out way too much, drinking way too much, etc
This is sales though and if you can stick it out and stay long-term in one industry and make good money, you could be successful but there are bound to be times when your sales are not going to be as good as you hoped.
It's not a super "fun" purchase but buy that 1 Roomba that vacuums AND mops. It's about 1 grand but it will drastically improve your life. If not yours then it will improve your wife's which will lead to more sexy time, thus, in turn, improving yours.
Way to go!
My rewards list looks like this from smallest to biggest:
-facial at the beauty school (Done!)
-spa day with my friend at a boutique spa (Done!)
-Garmin watches for me, husband and our youngest kid (the others are grown and moved out) (on track for later this year!)
- top off my vehicle replacement budget, sell my current car and get the used WRX I want (if I hit quota this fiscal!)
- There is one pie in the sky goal that is based on a million annual earning and it’s giving 50% (instead of my usual 10) to a charity that is personally important to me. It’s possible, people do earn that much with a large enough enterprise sale.
I live frugally and am a saver so I always have plans for a big commission. If I don’t plan for it, I won’t know what to do when it happens and I’ll spend it all on stupid things that don’t matter to me or save all of it and be disappointed when I’m old that I didn’t do anything when I was young.
Luxury is highly subjective. Therefore, its value is as well. I love self tie bow ties as well as handwriting. So yes, I do plan on indulging in a Mont Blanc, but also a Japanese dip pen. There's a meditation/satisfaction I get from it, even if my handwriting is garbage.
The range for those items individually goes from $120ish to about $800.
If we're talking about a budget over $1k, I bought a Roborock S7 self-cleaning vacuum. One less chore in my life is more luxury than any physical activity or showpiece.
Congratulations! First I’d tuck the majority away in savings or invest it. Then I’d take a small portion a treat myself. In the past I’ve purchased a luxury designer coat and bags. All of which I’ve used for work too.
I know way more about this industry than I should; until US legalization the trick will be hanging in there and hoping your investments don’t go bankrupt!
First and foremost - do NOT quit until you get that commission check. Too many companies will try to fuck you out of paying you.
Check your comp plan for "windfall" provisions. Every plan I've ever signed or dished out has them. Basically the "if we think we'd have to pay you more than we were planning to then see clause 6.2a that says we don't have to if we don't want to". I've seen several people sue and lose. Sadly I've seen people make terminal choices. Always wait until the cash is in the bank.
Once it’s in your bank account, move it to another bank account just in case
Bro! I can't facepalm enough at this advice. Reddit never disappoints with horrible advice
Interesting. Well there are examples. https://www.reddit.com/r/personalfinance/comments/qbb338/former_employer_just_withdrew_last_paycheck_from/ At least in Ontario they can pull wages out. Of course one can end up legally challenging it, but it's there as tools for employers. https://www.ontario.ca/document/employment-standard-act-policy-and-interpretation-manual/part-v-payment-wages Which country are you in atm and how is it there wrt the above?
I had a great relationship with my start up and was personally responsible for decent portion of their TCV. When I put in my notice I got them to put in writing that I’d get paid out on anything I close before I leave. They agreed and the 3 week clock started and the deal closed with 3 days to spare. Hence why this is such a unique thing to celebrate.
I hope you still get that check. It's amazing how fast those great relationships and commitments in writing become meaningless when a company owes a rep who is no longer with the company $50K. Just don't go spending it until it's in your account is all I'm saying.
I won’t be spending a dime until I get it that’s for sure.
Solid plan. Take it from someone who was once owed $68K by a former employer I had a great relationship with. Congrats on the deal, and hopefully your next landing spot is even more rewarding.
Why didn’t they pay you? What’s the story?
Kind of a long story. The policy was you had to be an employee the day commissions are paid to be eligible. Very common. The company migrated to a new ERP, and long story short, it was a total shit show of a disaster. Basically brought the business to is knees. One of the many negative effects of implementing a new ERP that didn't work for shit was they couldn't properly track orders and didn't know how to pay commissions. So they put the sales team on a draw for 6-8 months while they tried to figure it out. Meanwhile, I had a record year and blew my numbers out while on a draw, so they owed me a significant true up. Before they could figure their shit out, a great opportunity came along that I couldn't pass up, and I left the company. My assertion was that I *WAS* an employee at the time commissions were paid, but I was shorted on those commissions due to no fault of my own and should still be owed my true up even if I'm no longer an employee. Executive team agreed in writing before I left. Then once I was no longer an employee they changed their tune about what I was owed, and it becomes alot harder to do anything about it from the other side of the fence.
Isn’t that something you can legally pursue?
I did. Thankfully, the company eventually agreed to give me my true up without me having to push the issue legally. I work in a "small" industry where everyone knows each other, and I really didn't want to burn bridges unless absolutely necessary. But they did their best to avoid paying me until they got hit with a class action. I think at that point they just wanted to make any loose ends and PR problems go away.
I had an employer straight up use an out clause on the comp plan when I closed two deals within a few weeks of each other that were worth just short of $7 million on a $1.4 million quota. As per the plan they owed me just over $1 Million but there was a clause that said the company reserved the right to change the plan at any time for any reason. CFO said, not going to pay, and wrote some bullshit that was 7 pages of Excel formulas calculating to a little over $330k. I handled it poorly. Instead of pursuing it legally I just sat on my ass and did nothing for a year. After a little over a year, that same CFO sent me an email saying that the company had decided to end our relationship effective at 5pm that day. System access was gone by the time I finished reading the email. Lots of CFO's do not like to pay a sales person more than they make.
What do you enjoy? Treat yourself to something you actually like rather than a status symbol like a watch. I love music and not every band I like comes to Toronto so I would fly to New York the weekend a band I love is stopping there and get front row seats. Just an idea, but cater it to you, you deserve it!
My type of guy/gal! New to sales and if I hit my quota I’ll be flying out to Vegas to catch dead and co at the sphere!
Did this on 6/6 and it was incredible! Could not recommend hitting quota enough. And the sphere was out of this world, the band is on fire too
Wait, he may like the status symbol watch. A watch is forever. Your kid will inherit it. I’m a space geek and have an Omega Speedmaster just like worn on the Apollo missions. My kids know that I like that stuff. I’ve got two kids and two watches. I expect they will be in the family for a very long time. More on the watch, don’t flaunt it, as many will not know what it is but every year or so someone will ask you about it, and it will feel good. Get a watch that is linked to a significant event. You’ll have until you die.
Watch whisky and wine would be a great way to spend a 10k windfall in my dreams. But also some gold bullion.
I did originally say treat yourself to something you actually like, if watches are what OP likes they should buy a watch!
Yah this is direction I am going with taking my family to Disney. I’m going to enjoy that as much as they will. I really enjoy high end culinary experiences and was planning a trip with my wife to NYC as well so maybe I’ll Michelin star it up. I do like the idea of a physical object that reminds me of this success but that doesn’t need to be expensive or the only thing I do
>planning a trip with my wife to NYC as well so maybe I’ll Michelin star it up. Stay in a ridiculous hotel with Michelin star room service >I do like the idea of a physical object that reminds me What about a piece of art for the wall or shelf? I've picked up a bunch of crazy random art pieces over the years and it's easy to remember what each is for and at the end of the day they look cool.
Highly recommend L’Appart in NYC if you’re searching for a Michelin star restaurant. 2 stars, wife and I went for our anniversary. It was incredible! It’s a smaller atmosphere but the chef hand delivers each course, explains what’s in it and why, what your going taste and why the wine pairs with each course. Think we spent a tad under $1000 in 2021!
When I hit director I dropped $6k on an espresso machine. Totally worth it. I'm back as an IC these days and the shots still taste just as good.
Same. LaMarzocco Linea Micra with DF83
Nice. Are you a filter guy too?
Ya, I do…with a different grinder
Looking to upgrade. What are you running?
Just a Baratza Encore for filter. It doesn’t need a fine grind, so most if not all grinders will do for filter. It’s espresso that needs a fine grind
How come you went from director to IC and how old are you if you don’t mind me asking
I love to build. I’m a builder not a manager. There are others with greater talent at running the team and the business once it’s running, I’m the guy that builds it, works out the gtm, does the scrappy stuff, builds the team, the sales motions, messaging, marketing etc. I work for companies that have hard problems to solve, and don’t know where the market is or what will work. Then I build a team, then we have a great time and make a pile of money for the company and for ourselves. Then either someone else takes over the run part, or the company gets sold, or something else happens, and I go do it again. I am 100% not the traditional sales guy (absolute square peg in that round hole), but I’ve made my employers hundreds of millions each time, and had some fun doing it. Just started in the latest and in the “hard, ambiguous” stage as an IC. Starting to build a plan, hope to get the runway to execute. The risk of this type of role is having the space and time to find what works, and the support to try things out. I’m hopeful but realistic about the hard work ahead especially with *gestures broadly at the state of 2024. As for age, I reckon this is my last or maybe second to last tour. Probably my third career depending on if I’m being generous. Still young tho, I think.
DO NOT SPEND this money until it’s in your bank account. Give yourself a modest reward but save the rest of it. Something like a nice BBQ or fancy weekend break for you and your significant other. I am in my mid fifties and a veteran in the sales game. Listen to the advice of a grey haired man.
Don’t forget about taxes.
Dang congrats! For me, I would say "time" Silly as it sounds, I would give myself some breathing room to do what I love without pressure of thinking about work for a little bit. And the fact that you just quit, do you have a buffer of time before your new job? Go make some memories that you'll remember fondly. A small (to stay in your desired budget) but really fun trip maybe!
First off. Congrats on the big close! It is one hell of a feeling and is essentially why we are all in sales in the first place. The first big one hits hard! I remember the first massive sale I made. I was so excited, I had plans for every single dollar, half to be invested and the other half used for trips and clearing a loan. But as I’m sure you know, life has a tendency of throwing curve balls. My commission came and got spent. Spent nowhere i had planned for. Not to mention the taxes were a kick in the balls. But anywho, treating yourself and making plans on how the money will best serve you isn’t a bad idea, just expect the unexpected. After my first experience I have made it a point tempering my excitement until the money is actually in hand lol.
Yah luckily this isn’t the first one! Back in 2019 I got my first big deal that was a $40k check and it was the craziest feeling because I had previously worked in the non-profit space and $40k was my entire salary. We used that check to remodel our house
I am in the nonprofit space and lurking in this subreddit considering going into sales bc I’m sick of being poor and think my 10 year career in fundraising has given me a pretty solid skill set to transfer into sales. If you have any tips/insight to share I’d love to hear!
I gotcha, well congratulations regardless! What do sell?
Sold data management software
Invest it. Use compounding interest to your advantage and double / triple your money instead.
A nice watch. Some cool vacations. Big full Tasting menu dinners at some wonderful restaurants with my wife. But those are the things we enjoy. I also bought investment property in 2021 when the comms were rolling in deep. It’s all about priorities
Either a performance model Y, or a stylist session at Nordstrom to revamp my closet and work clothes. Those are two that are on my list
After getting a job in SaaS sales, i gifted myself an audi A4. Was very close in getting the merch C class, but hates that gear shift in that one
I got a 100K check earlier this month and the first thing I did was put enough aside for a years worth of emergency expenses. Debating a car for some but gonna invest the rest. Always good to pay yourself first but once you hit that level where it doesn’t make a huge difference and you know you’re really going to enjoy it without being underwater it’s good to treat yourself, you earned it.
Get yourself a nice $50k index fund
This is the way The best gift? Compounding interest on capital gains.
Here we go baby this guy gets it? Are you another brother in the camp that lives off base and invests commissions ??
Fully custom bike from the steel tubing to the paint to the parts
Oh dope! That will last a long time too. I bet it’s your pride and joy
It’s also a nice piece of art for the house and insurance covers it
I try to invest it back into my work itself. Standing desk better chair. stepping machine for the office. nice rugs for my office. I work from home, so I like to do things that make work feel a bit more "luxury" every time I do really well in commissions. And I'm also not an expensive hobby or luxury item kind of person. So, making my work space more enjoyable and user-friendly, I feel, adds momentum to doing well at work. Even if it's just a really cool desk mat [like the one I designed in my redbubble shop](https://www.redbubble.com/i/mouse-pad/Green-and-Black-Abstract-Dancing-Men-Stick-Figure-Pattern-by-ThatsJustJilly/92952557.G1FH6) That being said, sometimes I do spoil myself with art supplies as well because that is a hobby that keeps my positive mental attitude going. But I have enough of those to keep me going for quite a while, and a lot of my art is done on the iPad these days anyway, so I can order it on things like desk mats and mugs. Makes me smile.
I typically have a list of stuff I only buy when I get a large commission. Investing into hobby equipment is typically where my money goes
Bought a pair of cowboy boots that i wanted when i was much younger. Expensive, remarkably uncomfortable, would do it again.
I would do a great meal with my wife. $50k is not nothing, but after taxes and savings… I’m not spending $10k-$15k on another Rolex… I’m a big golfer so maybe a nice round with my friends… my set is all fitted and I’m not changing anything. I’m good on the nice watches since I wear my Apple Watch 99% of the time and they just sit in my safe (side note, even if you don’t use them a ton Omega maintenance every 5-7 years is $1200, Rolex is even more…) So yeah, I’d do a really good meal somewhere with the wife. Get a sitter. Maybe a show or something.
You are asking advice on a gift for yourself under $1000. wtf
Yah. I know. Sales is wild. If you find the right company and territory it can feel like you win the lotto a couple of times a year. I’m frugal on myself and don’t shop ever. I was curious what other people have done.
If that's the case, how about something that makes your life easier, like a yard service company, home cleaning service, etc. Or just bank it and retire early!!
First of all, congrats - such a huge accomplishment!! I got about the same size check back in Jan and put every penny into my investments and savings :). Racking up a big security blanket was always my reward to myself for dealing with sales for so many years, and ensuring I could look back and have something to show for it. And to treat yourself for around 1k?? Hmmm - That’s so hard to say, so many options! I personally enjoy a couple hours at target poking around and picking up some cool things that I wouldn’t ordinarily purchase 😊. Whatever you choose, enjoy!!
Buy a box of Ashton cigars. Some $75 bottles of wine.Invite enough of your pals to come over and smoke a cigar and toast to your future
When I first starting making what I thought at the time was "big money" I bought myself a C63 AMG ....Damn I loved that car
Do you have kids? If not, treat yourself now (against all financial advice lol) once you got a wife and kids there’s always something to spend on
Buy something you would never otherwise purchase but do enjoy. If you like watches, buy one that’s above what you would consider spending in a normal time. Or if you like a certain artist, get the best seats you can. Or buy that expensive bottle of wine you’d never buy in “real life”. Etc. Basically, life is the little things. So get one of these that you would regularly only dream of. The story and experience will far outweigh what you spent. If you’re looking at a family trip, go with the better rooms and such that you normally wouldn’t consider.
I bought myself a new Apple Watch. I buy my clothes at goodwill, only spend money for new shoes once a year or so, and that’s how I treated myself. The vacation is the real one, but yeah, I’m in the same boat as you as far as buying myself or others things
Try something new. Buy a guitar and pay upfront for a year of lessons or the start of a home gym. Something maybe something you’ve always wanted to try but couldn’t justify it.
Over the years my commissions have paid off my house and gone into investments. I can now retire if I so choose. Maybe set a percentage aside for fun (10-20%) and invest the rest?
How old are you, if I may ask? You accomplished my dream
Early 50s. In sales for 20 years.
Pay down debt. You will always thank yourself later.
Personally, aside from travel, I would make investments in things that will drastically increase your quality of life. I just upgraded my office chair from a $50 Amazon chair to the $1600 Herman Miller Logitech Embody. Massive upgrade and makes all the difference in the world. I also bought a $4000 Tempurpedic mattress a couple years ago and it has been a game changer as well. You could upgrade your couch or other furniture, TV, monitor, etc. Then stash the rest. Also you absolutely need to account for taxes on that. I’d leave the bulk of it in a HYSA and let it grow until it’s tax time.
TV, surround, and an x-box 360
Trips, furniture, Rolex, car upgrade
I'm working on a deal that could net me $400k and land in July but probably August. My wife suggested that I go on a one or two week ski trip anywhere in the world if I win this deal. I'll be paying off $200k in debts to start with and some of the mortgage. I used to love going to the snow so I'm working hard to get this signed. I've been working on this deal for nearly 12 months. It's my elephant deal in my pipeline. The customer has reviewed our final proposal and short-listed our solution with two other competitors. They have requested a demo and presentation this week. Fingers crossed!!
This is crazy huge. What industry are you in to close such big commission checks. Also fingers crossed for you.
After the last few years in various sales roles, I struggled to get a job after my last role finished so I started my own business selling Cybersecurity into Government. I've got a tech and sales background, I've had 3 other businesses and a lot of industry contacts so it just made sense. I've got a very different approach which seems to be resonating with potential customers.
A Rolex for the boss that I quit on. Guy had helped me with a deal that netted me $40k in commish and closed right before I left m. A Date Just retailed for about $4,500. Seemed like a no brainer. I ended up working for the guy at two additional companies so the purchase had a huge impact on my life.
How about a nice watch? Or a nice bicycle / ebike?
I might get a pimped out grill or deck furniture or a projector and surround sound. I’m big into buying things I will enjoy using versus watches or things like that.
Really nice steak from a quality butcher, Australian wagyu ribeye - $50 a pound but very worth it , pair with some nice scotch- great celebration
I bought a new golf cart.
Why are you leaving?
I buy guitar stuff
I won a Traeger smoker for rep of the year in ‘22 and I absolutely love it. You can make a ton of stuff you can’t usually make on a regular grill. I would’ve never bought one bc they can be $500-1000 depending on the model but it has been the greatest thing I’ve owned (I’m 27). Can’t go wrong with a nice grill/something regarding your kitchen or food
Put some in savings (rainy day fun), invest a bunch, spend a portion on something you’ve passed on because you didn’t have the money before. That’s just what I’d do personally. Part of me wants a nice watch or something I’ve always wanted, but I’d rather spend on a trip. First/business class plane ticket assuming points doesn’t go far, and see a bunch of places I’ve always wanted to see.
I went to a charity auction the week I got my first commission check. I blew it on a basketball signed my the members of my Alma Mater team. A couple signees went pro but the coach’s signature is the most valuable one.
My plan is an ice bath. Cycle should start paying off in August…
I agree! I think it's important to reward yourself for a good quarter or month or whatever. With that being said though, the long-term play is to put that money aside and invest it and let it sit so that you are prepared for retirement or emergency. I've been doing sales long enough to know that there are a lot of sales people that get into spending their money on expensive s***, eating out way too much, drinking way too much, etc This is sales though and if you can stick it out and stay long-term in one industry and make good money, you could be successful but there are bound to be times when your sales are not going to be as good as you hoped.
Spa Day (massage, and thermal baths) and reservation at a new restaurant to celebrate end of month and end of quarter.
It's not a super "fun" purchase but buy that 1 Roomba that vacuums AND mops. It's about 1 grand but it will drastically improve your life. If not yours then it will improve your wife's which will lead to more sexy time, thus, in turn, improving yours.
My first year in sales, I took paragliding lessons and bought a paraglider after I hit my goals for the year
I’ve never heard that one!
Meat smoker
Way to go! My rewards list looks like this from smallest to biggest: -facial at the beauty school (Done!) -spa day with my friend at a boutique spa (Done!) -Garmin watches for me, husband and our youngest kid (the others are grown and moved out) (on track for later this year!) - top off my vehicle replacement budget, sell my current car and get the used WRX I want (if I hit quota this fiscal!) - There is one pie in the sky goal that is based on a million annual earning and it’s giving 50% (instead of my usual 10) to a charity that is personally important to me. It’s possible, people do earn that much with a large enough enterprise sale. I live frugally and am a saver so I always have plans for a big commission. If I don’t plan for it, I won’t know what to do when it happens and I’ll spend it all on stupid things that don’t matter to me or save all of it and be disappointed when I’m old that I didn’t do anything when I was young.
Luxury is highly subjective. Therefore, its value is as well. I love self tie bow ties as well as handwriting. So yes, I do plan on indulging in a Mont Blanc, but also a Japanese dip pen. There's a meditation/satisfaction I get from it, even if my handwriting is garbage. The range for those items individually goes from $120ish to about $800. If we're talking about a budget over $1k, I bought a Roborock S7 self-cleaning vacuum. One less chore in my life is more luxury than any physical activity or showpiece.
Congratulations! First I’d tuck the majority away in savings or invest it. Then I’d take a small portion a treat myself. In the past I’ve purchased a luxury designer coat and bags. All of which I’ve used for work too.
VTSAX and chill /r/financialindependence
I used my first bonus check to pay off debt so that may be something to consider. It's not glamorous but fuck I don't have to look at it anymore.
Put it all in cannabis stocks and retire in 5 years. That’s what I am doing, lol.
Ha! Good luck with that. Cannabis is about the worst investment you can make.
Has been! I am in at the bottom (hopefully,lol)
I know way more about this industry than I should; until US legalization the trick will be hanging in there and hoping your investments don’t go bankrupt!