Heartland Payment Systems
Heartland Payment Systems – New York, NY
The Senior Product Advisor is responsible for the sale of the organization's payroll and related products offered in a specified region or major… Glassdoor
In order to show you the most relevant results, we have omitted some entries very similar to the ones already displayed. To see more, consider refining your search term or location.
Heartland Payment Systems Photos
13 people found this helpful
- Comp & Benefits
- Work/Life Balance
- Senior Management
- Culture & Values
- Career Opportunities
I worked at Heartland Payment Systems full-time (more than 3 years)Pros
Company offers more than just merchant services. College Campus program and School Bucks- Diversified product line.Cons
1- Lowest payout in the industry-competitors that are W-2 offer higher residuals with signing bonus and higher residual only compensation plans.
2- Divisional Managers have very little industry experience- cannot read a competitor statement. Those that look to leave are rewarded with a Territory Manager position to stay- no ability or experience necessary
3- Divisional Managers paid guaranteed salary- no skin in the game- Divisional goals go down rather than up- not sure what business model this is taken from.
4- Zero Expense policy- most Relationship Managers do not last more than 6 months and then realize they have spent more of their own money than they have earned.
5- You need to have close to $1500 in residuals before you own your residuals- Interview question- Ask for the names of employees in the division that have become vested in the last 3 years and if you could reach out to them for insight...cricket chirping. If you are vested and want to sell a portion of your residuals than you must have produced $6000 in margin in the last 3 of 4 month which equals about 8 deals a month.
6- Last Day of the month means managers swipe preloaded gift cards to trigger installed margin. Account flipping is prevalent so managers can say they hit their margin goals- Bad for the sales rep, the client and the SEC.
7- Micromanagement- commission only job- constant e-mails, texts, e-mail, FTAs, Hot Wheel Calls, more micromanagement than an assembly line in a factory.
8- Reps terminated via voicemail and when they are in the hospital. Result of having no interpersonal relationship with the sales staff. You do not hit your MIN you are gone. Your MIN is $6000 in margin or approximately 8 deals a month
9- Any who leaves who is successful gets sued- Owning your residuals; lifetime residuals is a fantasy.
10- Noncompete is overreaching- Before you accept a position see how many years you are handcuffed after you leave- At HPS it is 5 years.
11- Restrictive Pricing and High Schedule A- in ultra-competitive metro markets you have a $25 monthly cost and price floors put in place you cannot go below with giving up your signing bonus.Advice to ManagementAdvice
Managers need to be better qualified. Have Divisional Managers spend time in the field with their Relationship Managers. Restructure the comp plan in higher cost of living areas so you can retain sales professionals. Provide an expense allowance tied to their production. Constant e-mails and texts are not going to encourage sales reps to open their front door. Genuine interest in their careers might...try it.Doesn't RecommendNegative OutlookDisapproves of CEO