Heartland believes that creating a strong sales organization means encouraging you to share in our success. We provide excellent compensation, portfolio equity, and the opportunity to build a future with one of the fastest growing merchant service providers in the US. We've quickly gained a reputation for offering our Sales Professionals the best financial opportunities in the industry.
In 2007 Heartland paid its team of sales professionals over $85 million, up from $77 million in 2006...an amount not many other companies can equal, and yet another indication of our commitment to our sales team.
You'll receive an agreement that protects you and Heartland so there are no misunderstandings about expectations – either way. The Heartland compensation model is built on the premise that sales professionals can create long-term equity for themselves and their manager based on the effective selling and servicing of merchants in their specific geography. The model is entrepreneurial and is self-regulating because commissions are earned specifically based on the margin generated by each merchant account.
As a new Relationship Manager, you would be eligible for our “Fast Track” compensation plan, which is designed to provide more up-front cash income while you work to complete your new hire training and build your business plan. While on the Fast Track plan, you can earn a Signing Bonus equal to 75% of the actual annual gross margin generated by each new merchant account you sign. (All Signing Bonuses are calculated based on estimated margin and paid after the merchant's first live transaction.) In addition, after the merchant’s first year of processing with Heartland, you would receive an Annual Bonus equal to 12.5% of the actual margin generated during that year.
Once you achieve the minimum performance levels established by the company, you will be eligible to move to the “Traditional” compensation plan at your option. The Traditional compensation plan provides you with a significant Signing Bonus opportunity combined with a recurring Residual income stream. While on the Traditional plan, you would typically receive a Signing Bonus equal to 50% of the actual annual gross margin generated by each new eligible merchant account you sign. Every month after that, you would typically receive recurring Residuals equal to 15% of the gross margin generated by the merchant during the previous month for as long as the merchant continues to process with Heartland and you continue to adhere to the terms of your written agreement with the company as an active employee.
Heartland has hundreds of sales people who comprise the finest and most productive sales organization in the history of our industry. One of the reasons for this success is the agreement entered into between you, the Relationship Manager, and Heartland. This is an important document that protects both of us and forms the basis for how we together perform our roles on behalf of our customers.
The RM Agreement provides details on your compensation, portfolio equity, vesting, signing bonuses, liability, termination policies, disability rights and other factors affecting your income. We believe that it fairly rewards our most effective RMs and provides a structure that will work as we grow into the future.
Heartland's RMs are not independent contractors. Instead they are employees of the company. This means increased costs to the company to cover FICA, Medicare, payroll costs, federal and state unemployment taxes, benefits and other administrative expenses. By affording our RMs with these benefits we expect performance and integrity on the job. This expectation has proven to be very successful and the RM Agreement cements that relationship with Heartland.
Portfolio Equity & Vesting
Sales professionals are attracted to Heartland in many cases because of the opportunity to build and manage their individual portfolio. You become vested on the first day of the month following the calendar month in which your portfolio generates gross monthly margin of $10,000 for all merchants sold. You can rely on a monthly residual income stream that is generated by your long-term equity as long as your merchant remains a customer and you continue to maintain minimum monthly contacts with your merchants.
Incentives & Recognition
Heartland also sponsors periodic award programs and sales contests as opportunities to produce additional income and to earn Heartland stock options.
Heartland believes that creating a strong sales organization means encouraging you to share in our success. We provide excellent compensation, portfolio equity, and the opportunity to build a future with one of the fastest growing merchant service providers in the US. We've quickly gained a reputation for offering our Sales Professionals the best financial opportunities in the industry.
Read more about current incentives...