Pros. Can confirm that NYL was very similar. She's trained to gauge your personality, and as long as you aren't a completely wet blanket, you'll be qualified to move on to the next round of the interview process. You are not missing anything. The cons of pros Like a lot of financial firms, Northwestern Mutual is criticized for its aggressive sales tactics. Someone fr the company randomly setup a meeting with me and then tried to sell me life insurance as an investment, which I actually think is illegal at least in some states. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. The management team or "coaches" and all are very likeable people. Detailed rankings include base salary, bonus, location, benefits, average weekly hours worked and more. Insurance has its place but not the whole profile. But NWM whole life is fucking beautiful. But you'll meet with a lot of your friends and family, and you'll sit there with a shit-eating grin, agreeing with everything your joint-work partner says (and he'll do ALL of the talking), because you're creating a financial plan for them! You don't want to give 50% of your money to the joint-work partners, so you've been doing more cases on your own, and you just can't close as much business. Apply to Financial Representative, Financial Representative Intern and more! Northwestern Mutual's insurance financial strength ratings: Moody's - Aaa, 3/2010; Standard & Poor's - AAA, 3/2010; Fitch Ratings - AAA, 5/2010; and A.M. Best Company - A++, 3/2010. And some of the joint work partners make mistakes! You've already put a lot of work into this thing by the time "basics day" rolls around. It was awesome. Now, you may have intelligent friends and family who have done some research, or read some Dave Ramsey, and they know that whole life insurance/permanent life insurance is a bad idea. I would suggest you go through the process before making a … I worked there straight out of college in 2012. Make sure the firms you're looking at are actually good firms. You're welcome. Time and time again, reps would bombard student org meetings and college classes to talk about finance careers (re: Northwestern Mutual internship program and recruitment). BEGIN YOUR PROFESSIONAL DEVELOPMENT AS AN INTERN WITH NORTHWESTERN MUTUAL – Wilmington, NC One of America’s Top 10 internships, Northwestern Mutual Financial Representative interns strive to understand their clients' goals and visions to uncover financial solutions that put them on a path to achieve their financial objectives. Term life insurance is not an investment. Indeed.com estimated this salary based on data from 11 employees, users and past and present job ads. You haven't spoken to them in a long time, and maybe your career is slowing down a bit. Any advice on how to get in with a good firm would be appreciated. He tells you it's time to move on. You've noticed that the really likeable coaches and managers aren't giving you as much attention anymore, but hey - if you fail it's your own fault. Its not just nwm its bankers life, state farm, mass mutual the list goes on. I worked at Mass Mutual, and this is THE SAME EXACT STORY. I did some IT consulting at NWM like 10 years ago and got the same spiel. Northwestern Mutual Financial Network is the marketing name for the sales and distribution arm of The Northwestern Mutual Life Each rep would say being a fiduciary is neat, but the products speak for themselves. Having a ridiculous experience with a NWM sales person inspired me to pursue a career in real financial planning. Not bad!! You're also kind of frustrated, because you still don't really understand the nuances of the products that well. This career offers flexibility at a company where hard work is valued and rewarded. You'll learn how to talk on the phone and convince people to meet with you - even if they object (up to three times). Basically anyone asking about joining an insurance company or a career as financial service rep, this will be your life. The new agents bring in friends and families until their network is exhausted and then they wash out. That's pretty unprofessional to sell to a consultant/supplier. Agree with them. I wouldn't worry too much though, just keep prodding him with questions to get him to think (do you really like it there? Tons of great salary information on Indeed.com Once you start working, you'll be persuaded but not forced to take a "joint-work partner" with you. It is not a scam, if you do your research you will realize it is a very impressive company with an unbelievable track record. To Apply: Please forward a copy of your resume to: Alexa Slack Internship Director Northwestern Mutual (954) 535-9136 alexa.slack@nm.com He doesn't know what an IRA is. They are exactly the same based of this story. I don't know how you'll sleep at night knowing that you're giving the people you know and love (and the people they know and love) an overpriced product with high commissions. They recruit anyone and everyone. They said I'd learn through joint work, but I still haven't learned enough. I'm glad you eventually made it with a good firm. Maybe one person who is still relatively new to the firm (like you) is doing a great job, but you're in a rut right now. I have no idea how he was talked into a term life insurance policy at 19. You'll get pissed at them, and you won't talk to them (and they won't talk to you). Of all the wirehouse firms, two have more kool-aid than any others: Edward Jones and Northwestern Mutual. You sell your college buddies insurance they dont need and they can get out of it within a year and you have to return all of the comission back. New comments cannot be posted and votes cannot be cast, More posts from the FinancialCareers community. They'll tell you all their secrets. They try to sell life insurance to anyone who can sign away on a payment plan. The first person you'll interview with will most likely be very attractive, and she'll ask some very light questions about yourself. It sounds good, $200 a month seems right for what I make. NWM is talking advantage of my naive hard working brother, but I guess this is just going to be a hard learned lesson about the real world. He wants you to be successful, but it just isn't going to be here. Interested in becoming a financial representative? My DD included going through the process of becoming a client and reading their ADV Pt 2. A lot of independent firms have reps who began in large firms, so I will definitely give them credit for that. They might have one fiduciary per office, but they certainly weren't planning on becoming one. Northwestern Mutual Financial Representative Intern in the United States makes about $20.09 per hour. And I thought Vector/Cutco was bad! This feature is not available right now. Pros. Once you pass the extensive background check (and believe me it's thorough), study for and pass your Life & Health exam, you're good to go! Most do not, and move along in their careers to something else. This just isn't the right career for you. I interviewed with Northwestern Mutual before and it just sounded like some sort of scheme. Best Cities for Jobs 2020 NEW! This is just a tiny bit of what he talks about all the time. If so, do not do it. The jackass I talked to at NWM wanted me to put 40% of my gross income into a whole life policy, even though I have no dependents and worked at a company with a ridiculously good 401k match. They want naive youngsters whom they can brainwash for a while. Classier than Cutco Knives, but still the same thing. I don't think he even submitted the application I signed. He already went and took out a term policy for himself. Eventually she'll ask about who you know, but let's not get into that too much. He will meet all the expectations that first interviewer set up. They recruit almost anyone and everyone. Definitely glad I avoided it. I had a friend work there. I bet they wouldn't even be able to tell you specific details about the products, because they're just regurgitating bullshit their manager-coach (who failed out of the business and is now training them) told them to say. If you're thinking about going to law school, they'll tell you how law school is saturated whereas the financial services industry has a lot of people on the verge of retirement (this is true). During the training period, which lasts about a week, you'll learn more about this great company, directly from the people who have succeeded there in your area. You’ll gain exposure to modeling, pricing, products, reserving, and marketing, and receive support as you prepare for your actuarial exams. I said I couldn't find it. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. A free inside look at company reviews and salaries posted anonymously by employees. My other research kind of pointed to what you're alluding to and obviously I'll go into it with an open mind but I really appreciate the insight! Make sure your brother doesn't burn too many bridges. I've heard stories about Edward Jones, but I can only speak to NWM. What do you think? The hard part about northwestern mutual or any other company like it, is your bosses are sales people (they usually started at the bottom once and rose their way up), and so they're naturally effective at convincing you / selling you. You've blown through most of your friends, family, old high school buddies, and all the people whose numbers they gave to you. Helpful full-time advisors come along side to offer experience, advice, and leadership in meetings with potential clients. They asked me how big my network is, how big my family was, etc..: I caught on that they just wanted to hire me for my network to sell insurance to. You're angry, but it's okay - Mass Mutual contacted you through LinkedIn, and they want you to join their firm. And you'll know all about how the dividend of NWM whole life fucks the ass out of any other investment product...tax-free!! They target these employees because they swallow the pitch hook line and sinker. It's not a sales pitch but a sob story. He calls you on the phone to go over your numbers (you were supposed to meet in person, but he left the office for the day). It's at least worth googling, and it actually doesn't look too bad when you search online! You know that. Life and disability insurance, annuities, and life insurance with long-term care benefits are issued by The Northwestern Mutual Life Insurance Company, Milwaukee, WI (NM). Their employees are simply considered cogs to get more people on their life insurance policies, and working for them is no more than a glorified door to door salesman, disguised by "fancy" words such as "dividends" and other garbage. 3,065 Northwestern Mutual reviews. Not many downsides, but it is a very demanding job especially early in your career. Send him to this topic. Plus, you've had a few really big cases, and even with some of the people getting rated on their medical exam who were interested at first, but found the premiums to be just too expensive, you know you have to keep seeing people, seeing people, seeing people... Nine months in now, and you've slowed way down. In a year or two he will likely either be washed out or be singing a different tune. This is true word for word. He presses me, I give it to him. He doesn't know what an IRA is. Northwestern Mutual as a company is great -- strong financial stability, security, etc, but the culture within their system for women and POC is horrible. It is basically a pyramid scheme like Vector marketing (selling knifes door to door). I was once in sales, and it took me a good month / two months until the illusion dropped and I realized I was in a shit position. And to be frank, you need to leverage your friends in the business to get in at a great firm. If you're a prospective intern, they'll show you literature about how it's one of the best internships in the nation. He really believes his "friend" is really trying to help him. Eventually, you'll build a list of at least 100 people that you know in the area - friends, family, and other people with money. Made us feel very used. Term insurance is just fine. 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