Major Career Change

Major change is never easy, and professionally, I am embarking on would could be the biggest change I'll ever make. For twelve years, I've worked for Sears Roebuck and Co., an entity which technically no longer exists (it got bought by K-Mart). For the last five of those years, I've been in the appliance business, selling washers and dryers for the last four. It's been the best job I've ever had. Where else can you make nearly $30/hr teaching people about interesting aspects of what they thought was a dull thing coming in? There's the thrill of making the sale. There is the confidence and fulfillment that comes from knowing that one is a real expert in your field. I know more about washers and dryers than any other salesman I've come across, and I'm really good at selling them too. The hours are great. The environment is not too stressful (provided you make your numbers). Sears gives great benefits, and with so many years under my belt, I got 4 weeks of paid vacation a year. Why would I want to leave that?

After doing my taxes, I got to thinking about how I had made less in 2004 than in 2003. It was just a few thousand, but its ominous for someone in their thirties to have a decreasing income. Commission rates have eroded over the years; store management goes on these hiring spurts where they flood the floor with too many people. A smaller pie cut into more pieces means less food on the Joko Londo family table. Now, the top management is talking about how Sears will have to reduce fixed costs to remain competitive. To me, this means commission rates are going to be cut even further. The handwriting is on the wall. The glory days of appliance sales at Sears are over.

At least once a week, someone would tell me I'm a darn good salesman. Occasionally, one would inquire as to why I was even working at Sears. Surely, someone of my talents could do better somewhere else. I'm not boasting, I'm just reporting what others said. As the K-Mart/Sears merger approached, I started looking. I interviewed with Verizon for a corporate sales job. As I chronicled in this blog, I visited job fairs. One company that I got a really good feeling about at the last fair was Countrywide Lending, the largest mortgage lender in the USA. I went through the process, got a second interview and effective April 25th, I will be the newest loan officer at their full-spectrum lending branch here in the East Bay.

I gave notice at Sears today. Everyone is sad to see me leaving. Again, Sears has treated me very well. If things don't work out as a loan officer, I know I'm one of the best washer/dryer salesman in the whole company, and I could always go back (losing seniority would suck though).

My biggest concern is finances during the transition period. My training salary will be roughly half what I average at Sears. I won't be closing loans during the first few weeks; heck, I may not close one during the first month. They're expecting me to close 7 loans a month. With about a 1% commission going to the loan officer, and the average mortgage in the Bay Area being nearly $400K, I'll likely be more than doubling my current income. That could be months away, however.

I also have to deal with the anxiety of a turbulent economy. If the real estate market collapses, no one's going to be buying or refinancing. So much more rides on the economy and interest rates, whereas people will always need washers and dryers.

Ideally, I want to make enough so that my wife can devote herself to her writing full time. She is somewhat of a vicarious outlet for my own creativity. If I'm not going to write the great American novel, at least I can support her while she does. I got my job at Sears when I was in college and I never really left. I think its about time I got a grown-up job.