How much should a mortgage broking business owner pay their staff? And how much should brokers pay themselves? Unfortunately, many brokers turn to generic answers (usually a pay range) when faced with these questions. But these generic numbers don’t take a business’s specific context into account.In this episode of Mortgage Broker Acceleration, James Veigli and Ash Playsted discuss the answers to these questions. Instead of providing cookie-cutter solutions, they encourage brokers to think contextually. Tune in to learn how to rethink your broking business’s compensation philosophy and structure.The Key QuestionsWhy does the cookie-cutter approach to compensation not work?

Is money the top priority for your employees?

Should you pay a hired broker salary and/or commission?

Why is the money in your broking business’s bank account not yours?

What You’ll DiscoverHow to think about the salaries you offer for specific job positions

The importance of having a business succession plan

Approaching your finances as a business owner vs. self-employed person

Why brokers shouldn’t pay themselves last