In February I submitted my resume to fastenals website and about three days later received an email from Tim Cavanaugh at the Sterling store asking to meet with me. I responded yes and was enthused about the opportunity. A couple days later I met with him and had an informal interview for about an hour. He seemed like a decent enough person and got the impressions that I could work well with him. He told me that they might be calling me and would let me know soon whether I had a second interview with a district manager.
I drove home about 15 minutes and when I checked my email there was a request to meet with the DM on Monday. I went to meet with John the DM on Monday and interviewed for approximately an hour. He told me that I would be working on establishing accounts in the Dixon area and that he expected we could get about 40% growth within twelve months. I told him that I researched fastenals product line and pricing and questioned the ability of any sales rep to overcome the far higher prices they had in comparison to other suppliers or hardware stores. He told me that they sell the servicing of a customers inventory and that it would be my responsibility to ensure that existing or new accounts were being monitored closely. In my opinion and based on the current economic conditions finding companies that were willing to pay higher prices for fastenals service in the Dixon area and accomplish a 40% growth margin within twelve months was fantasy or John trying to sell me on the job opening. After that we started to discuss compensation and that is where the fantasy and reality were very far apart. I was told I would be paid a base salary of $2,000 per month and if I grew their accounts in dixon at the rate John had proposed I could potentially make another $900 per month for a grand total of $34, 800 per year. I live in a modest home and am a very conservative spender and thought they were insane. If you have a mortgage, car payments, and so on there is no way this position could support most people unless you live in your car. John asked how I felt about the salary as I bid my farewell to him and I responded with I would have to get back to him after I ran some numbers.
Obviously I never called back. For a kid in college this could be a great opportunity but for an established man like myself this would barely pay the bills.
Also beware that they will stress relocation to a possible new store in the future if you want to work with them.
After the interview I landed a real job paying a base of $50,000 a year with bonus commission, fuel allowance, 401K, good insurance, cell phone paid all of which Fastenal did not offer.
The owners of this company are obviously getting rich off the backs of their employees.
Steer clear of Fastenal if you are looking for a decent wage and realistic goals set for you.
