Calculating Commission Payments before You Quit Your Job
Most sales / business development staff are paid a basic wage plus some form of commission or bonus (indeed, some people are paid on a commission basis only). The more products / services they sell, the more money they will make over and above their basic salary.
When you quit your job you probably want to calculate how much commission you think you're owed. The 2 main factors that govern what the final figure will be are the terms and conditions stated in your employment contract and the type of commission structure you're on.
Your Contract of Employment
Your employment contract may detail your initial commission structure. However, the longer you're with the same company and the more successful you are, this structure is likely to change.
What type of commission are you on?
4. Percentage of Profit Commission
The plot thickens even more if you are on a "percentage of profit" commission structure, especially if profit is related to both the profit on a given sale and the company's profit overall. For example, an Account Manager within an Internet firm may be paid commission on any profit made from the building of a client web site. In other words, profit made from one individual project. They may also be promised payment on the whole company's performance over a year. Commission thus becomes more a question of trust using figures that you may not have immediate access to.
Whatever the case, when calculating commission, ensure that:
1. You check your employment contract
2. You find and refer to any new commission structures that you've been notified of but may not form part of your original contract
3. In case of ambiguity or doubt, you speak to your boss or HR department