Adjuster Estimates

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Last Post 12/20/2011 10:35 AM by  okclarryd
Noob question about pay for CAT Auto Adjuster
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jswallace777
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12/14/2011 1:43 PM

    Does anyone know how long it takes to receive pay between paychecks for CAT auto adjusting for a independent co., example 2 weeks, monthly?  And, is 350.00 a good daily rate for a CAT auto adjuster?

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    HuskerCat
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    12/14/2011 10:43 PM

    Who are you working for........or thinking about working for?  Ask them!  What are you, 12? 

    Sorry!! But hey, nobody here can answer that for you.  It's going to be different, depending on who you work for, and how your work product is.

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    CatAdjusterX
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    12/15/2011 1:08 AM
    Posted By nobody special on 14 Dec 2011 01:43 PM

    Does anyone know how long it takes to receive pay between paychecks for CAT auto adjusting for a independent co., example 2 weeks, monthly?  And, is 350.00 a good daily rate for a CAT auto adjuster?

    .............................................

    So Mr. Nobody special, sorry my friend but HuskerCat is correct. There are far too many variables as to how and when you get paid. As far as the basic idea in CAT work is you get paid when you close claims,period! Some firms pay you on closed claims and some pay on closed claims ONLY when they receive payment from said carrier.

    Ask the firm who is offering you 350.00 a day to work CAT auto claims how and when you get paid.

    Is 350.00 a day a good day rate? Not for me or any other experienced adjuster. However a 350.00 day rate for a rookie, not to shabby especially when you consider you are not humping roofs, climbing up and down ladders. CAT auto claims seem to be fairly cut and dried(car submerged? Yes, totalled. Car rolled? Yes, totalled)

    Robby Robinson (text by Dragon)

    "A good leader leads..... ..... but a great leader is followed !!" CatAdjusterX@gmail.com
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    Leland
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    12/15/2011 1:48 AM
    If you can get $350 per day that is $1750 per week, not including Sat & Sun. At 4.3 weeks per month, it is $7525.00, or $90,300.00 annualized. You probably will be working at least Saturday, if not 7 days per week in a CAT situation, so figure $350 x 6 x 4.3 x 12 = $108,360.00 annualized for a job that does not require a college degree. I believe this would put you in the top 20% of income, perhaps even the top 20% of HOUSEHOLD income.

    Now if you had experience, you might earn more. But if you had experience, you wouldn't be asking this question.

    Assuming you have no experience, you are asking if it is a good pay rate when:

    1) you earn at an annualized rate in the top 20% even though no degree is required
    2) you get beneficial experience that will help your future employability and income.

    If the answer isn't obvious I would have to tell you you should take this gig if you are unemployed.

    If you are an orthopedic surgeon or entertainment lawyer you should probably pass.

    Hope this helps.
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    ChuckDeaton
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    12/15/2011 2:35 AM
    Jump on it, Noob.
    "Prattling on and on about being an ass with experience doesn't make someone experienced. It just makes you an ass." Rod Buvens, Pilot grunt
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    HuskerCat
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    12/15/2011 8:44 PM

    Sorry about my terse reply, Triple7.....but regarding part 2 of your question if $350/day is good or bad:

    1. Will you be working close to home... or paying for a motel, meals, laundry, etc?

    2. Will your vendor pay a per diem on top of the $350 if deployed away from home?

    3. Will you be adjusting those claims from a drive-up site, where they come to you? Or do you have to go to them?  And, do you get mileage reimbursement on top of the $350/day?  If you total a vehicle, do you have to take title, obtain a salvage title, and handle the salvage arrangements and get reimbursed for those costs?

    4. Will your vendor provide you with the software and/or hardware to complete the estimates, or do you bear the cost?

    5. Would you be a 1099'r responsible for your own self-employment taxes (which increases your taxable income burden)?

    6. If you do this, can you then afford to pay an accountant to do your tax return(s), including quarterly estimated payments, versus working wherever you do now and doing a simple Turbo tax filing based on W-2(s) that already has all witholdings taken out. Or a combination of the W-2 & 1099, for that matter?

    My suggestion is, do the math and know before you go......how long you go, how long it lasts or is guaranteed to last.  But remember there are no guarantees.    

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    ChuckDeaton
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    12/15/2011 10:42 PM
    Excellent answer, Mr. Huskercat, kudos to you and Merry Christmas to you and yours.
    "Prattling on and on about being an ass with experience doesn't make someone experienced. It just makes you an ass." Rod Buvens, Pilot grunt
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    jswallace777
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    12/16/2011 2:29 PM
    I have been giving a chance to change careers, but ....like everyone says, do your homework about the position and learn from others. The company does pay 350 plus per diem, pays every two weeks, but everything else is on me. I did ask all the questions, but I was trying to figure out if the pay is ok for a rookie salary, it does sound good, but after paying hotel, gas, etc. does it still pay off in the future. Thank you all for the advise and answering back...especially huskercat for calling me 12, but its ok, I understand.
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    olderthendirt
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    12/16/2011 7:05 PM
    If you will be away from friend and family for months, working 10 hours a day, having no life and paying most of your own expenses is $350 a day good?
    Life is like a sewer, what you get out of it depends on what you put in it
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    PEObroker
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    12/17/2011 12:52 PM
    I think you are the only one that can determine the right answer. I recently took an assignment as a "trainee" working 2 story residential claims for $250 daily. I did it to get the experience. It was ok because I drove my lead adjusters vehicle & he paid for all gas plus I found a great rate at an extended stay motel ($32 daily). If I had been paying for gas & expensive lodging I would have lost money. One good thing about daily is you get paid rain or shine.
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    okclarryd
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    12/20/2011 10:35 AM
    Here's my philosophy on pay..................

    Whether working and being paid by the file or on day rate, I figure one day's net pay pays my overhead for a week and the rest is mine. I've worked claims for $350 a day and it was a good deal. Doing the same in Long Island is not a good deal.

    Depends on the event location, overhead costs, the work itself, management styles ( some managers aren't worth making $750 a day), all the rest of the details.

    If you're uncomfortable asking these question to your employer, you may not want to work there.

    Happy Trails
    Larry D Hardin
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