I applied online. Sounds like deception is a common tactic in a lot of these recruiting scenarios. Turns out he was for his practice and I started. If you're interested in the whollistic side of things, find a firm where the managers also participate in insurance sales. Some pros of working at Northwestern Mutual include their top training program, amazing mentors, and the way the managing partners of each firm allow you to make your own schedule. I interviewed at Northwestern Mutual in September 2020. Indeed.com estimated this salary based on data from 11 employees, users and past and present job ads. Insurance Northwestern Mutual Internship (self.personalfinance) submitted 2 years ago by Rustypancake54 I have no idea if this is a good spot to post this or not but....I have been considering an internship opportunity with Northwestern Mutual. The woman who interviewed me even asked how much money I had in my savings account because I “probably wouldn’t be making very much money for the first half-year.” Never responded to any inquiry again after that. Sounds pretty accurate to me, they told me they had 16 kids earlier this year, none of them are there anymore, I wonder what kind of sign that could be... As a current finance major, I’m interested in how you’re a personal banker as a college student. Helpful full-time advisors come along side to offer experience, advice, and leadership in meetings with potential clients. They then explain to me that senior employees get window offices and newer ones don't, okay great, I don't care. School: non-target in the upper midwest. Plus, in 2020 Vault ranked us #5 within the financial services industry and also ranked us in the top 10 for overall career development." The entire internship was so full of pressure that it really took a toll on me, personally. More posts from the internships community. It really is the worst. My brother took an "internship" this summer with Northwestern Mutual. WM at the big 4 is very similar. If so, do not do it. My friend told me that the interviewer said he was in the top 10% of their applicants and that he'd be getting experience with finance and that a mentor would be helping. lol this should be pinned/stickied. Northwestern Mutual Financial Representative Intern in the United States makes about $20.09 per hour. This is where it gets really pyramid scheme-like and MLMish. Selling insurance can be great, I know some brokers that are wonderful to work with but I don't think this is the stable job that graduates are looking for or should pursue, you don't need a degree to do this. or shoes! Interview. The Northwestern Medicine Pre-Medicine Internship provides you with an opportunity to work at a premier academic medical center and to learn more about medical professions. This is 100% what they wanted me to do with my dad and his friends/coworkers, and I was't about to. Pros. Episode 16 - With #1 Intern in the Nation for Northwestern Mutual - Duration: 26:32. That's some crap you never want to do, go around college selling life insurance to kids who can't afford it. They emphasize that these people in the video are *successful* because they get up early, and they're *successful* because all they do is call all day. The rep reassured me that this would be worth my time to meet with the actual recruiter, so I figured "why not", and I met with the next person the following Monday. Glad you passed on it! granted it's a bit more legit since it's selling insurance instead of fire/ice goat skin condoms for frogs, but it's still an mlm. What do you think? We are pleased to present the 2016 Top College Intern Achievement Award to Alex Meduna of the Tews Network Office. The people there are very friendly, helpful and motivated individuals. I heard from acquaintances that it was a pyramid-scheme and all they did was cold call. 1. I thought the same thing about New York Life too. The management in my particular location/agency was absolutely heinous. Learn about Northwestern Mutual culture, salaries, benefits, work-life balance, management, job security, and more. Plus, in 2020 Vault ranked us #5 within the financial services industry and also ranked us in the top 10 for overall career development.". What stuck out the most is that you are encouraged to "write x-amount of lives" in order to earn the silver award or the gold award, and you can get a suit! I try to talk anyone out of it who is being recruited. Make your own schedule and you get to be out interacting with clients. Responsibilities: Performed rudimentary investment research on mutual funds, bond funds, and ETFs based on risk-risk measures. or a watch! That is true, but when the majority of people tell me that I will be told to sell to friends and family for a finance position I probably will need to believe them, I have read dozens of people saying the same things on other posts for this company. Disapproves of CEO. My biggest problem with Northwestern Mutual is the disdain college reps had for the fiduciary standard. My accounting prof said the same thing, even the Business School career center says not go for it if they offer it. This seems an awful lot like a upscale version of Vector/Cutco, just want to get some opinions of anyone else with experience here. These people are sharks and can smell the life insurance sales dripping from your phone contacts and high school year book. Yes, you'll be on the phone a lot - especially at first. Essentially this comes down to knowing one thing to find out if this is a good opportunity for you: are you willing to make a list of all the people you know who might be willing to buy life/disability insurance from you, and are you willing to call them over and over again until they say they wish they had never met you? Haha they kept asking me how many people do I know that would be interested in insurance. However, they are more concerned with how well you can build and leverage your new network. Glad you came to the smart decision. I have a low GPA and no previous internship experience so I ate all that up at first. 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). He quit the first day when they asked him to call someone on his contacts list and sell them insurance they dont need. The kids in the program always saw me and seemed like they were better than me because they were part of this dumb scheme. It's like 98% of firms. A typical day at work for me included a meeting to layout the work day/week, working with Northwestern Mutual programs to manage customer accounts and applications, communicating with clients. When I said "none" they told me to think harder and to start asking around at my school. Pros. 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). I have been working at Northwestern Mutual for less than a year. Theres still a lot of selling, but that's just the norm in FA until you build a big enough book where you can just service your existing clients needs. Fortune 500 company that brings a lot of experience to the table. Stay Woke! First, you must understand that NW has a duality. Had the same experience when I interviewed with them for a full-time position. 2. ... Northwestern Mutual is a big recognizable name and therefore most people trust them implicitly, but it's a shit company. I guess ill just hope for others and take it as a last resort for the resume building. 0 0. Same experience with NWM here in my town, got in touch through the career fair and progressed through the interviews. They definitely were seeing the dollar signs on my dad, and of course that would be much more profitable than selling to a bunch of college kids, but it just seems wrong to dupe a college kid like they have been. We get here at maybe 7:15 or 7:30 ( because *successful* people get up early, don't chya know) and just get into great stories and share experiences". Internship program is always ranked in the top internships nationally. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. Northwestern Mutual as a company is great -- strong financial stability, security, etc, but the culture within their system for women and POC is horrible. I told them that it has to be strong FA experience or I'm not interested as I already am gaining some experience in that field. I recently was invited to come meet with someone at the local NM office by their college campus director. Northwestern will tell you this and they'll tell you that, but at the core it's a waste of your time and here's why: 1: They entice you with lingo like "build your own business" and "we will give you so much good experience that can be transferred to any part of the financial industry". Wasted their summer and hardly made a dime. It's a sham of an "internship" and it should not even be considered. Northwestern Mutual is the only company to be recognized as a top 100 internship program 1 for 24 straight years. I initially interviewed there for the program and on my way out, I started talking to one of the FAs there that happened to go to my school (I was an incoming senior at the time) . 2: You aren't gaining relevant experience to what you probably want to do. At Northwestern Mutual ®, success is mutual.When you intern with us, you’re opening the doors to your future career. Awarded in the Insurance category: Life & Health industry, Fortune magazine's annual survey, 2017. Financial Representative - Monthly Intern. After some BS’ing with him, I wanted to work for him as a CA and asked if they were hiring in that role part time. They show me around the office and open with their rather run-of-the-mill meeting room, it can fit maybe 20 people around the table, they tell me "This place is so great because it's full of such great energy and we have to pull extra chairs in because there's so many people here sharing *success* stories. My employer uses the personal banker model that has us doing both small time lending and other retail account openings such as DDA's and CD's, but we also do teller transactions, so it's a mixed role, but I really don't mind it. All commission, so for people who want to work hard and sell insurance. It can be a great job for the right type of person. I interned at Northwestern Mutual during the summer of 2009 then through the following school year part-time and then again during the summer of 2010. Is the summer internship with Northwestern Mutual Financial Network a scam? I put internship in parenthesis throughout this post because this really isn't an internship, this is just a very low-level sales job that will have your commissions split between the office and you'll get a fraction of what you worked for. Northwestern Mutual is an American financial services mutual organization based in Milwaukee.The financial security company provides consultation on wealth and asset income protection, education planning, retirement planning, investment advisory services, financial planning trust and private client services, estate planning and business planning. even though I never dealt with them, this was 100% what I expected of this internship a decade ago. What drew me away was the same concept of trying to sell to my friends and family. For the 2nd interview, the had me fill out a form of 200 people I knew that could benefit from their products. 26:32. Current Intern - Sales Representative in San Francisco, CA. Press question mark to learn the rest of the keyboard shortcuts. Plus, in 2020 Vault ranked us #5 within the financial services industry and also ranked us in the top 10 for overall career development. I started as a teller when I was 18 and gained a lot of cross-sell experience, I worked in a good branch that many different employees officed out of, wealth management, mortgage, lending, and some others, so I had a wide breadth of knowledge when it came to that. Get real-world experience in finance internships at your Irvine, CA Northwestern Mutual office. Although I didn’t end up liking what I did, that role put me in a better spot overall. There is a three step interview process. Are you looking for work similar to this? This sounds like a rehab center at this point and I'm not saying much because I'm wondering why this person is showing off this empty room to me. It's considered an independent contractor (1099) but you have to report to your general agent. This is a new “scam” that plagues college grads and desperate job seekers. GPA: 3.71. They weren't quite as upfront about how much they're just using you for your network, and they also pulled the bait and switch on me talking about how they don't believe in cold-calling, that they'd pay for my credentialing, and reassuring me that it would be a comprehensive financial planning internship, followed by the would-be "mentor" sending me an Excel spreadsheet asking for 100 names of friends, family, and people I've meet through my current sales network. They seem to have a pretty high ranking internship program at least according to their site but obviously that can be biased. 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