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Northwestern Mutual financial representatives

Posted on 2/25/14 at 3:41 pm
Posted by Tigerfan56
Member since May 2010
10520 posts
Posted on 2/25/14 at 3:41 pm
I just had an interview with Northwestern Mutual for a financial representative full time position.

It seems kind of fishy to me. The pay is 100% commission. I was doing some research and there are mixed reviews out there as to whether or not this is sort of a scam on college graduates. Anyone familiar with this or have any experience?
Posted by colorchangintiger
Dan Carlin
Member since Nov 2005
30979 posts
Posted on 2/25/14 at 3:42 pm to
Sucks during your 20's. Start making bank in your 40s and 50s
Posted by Tornado Alley
Member since Mar 2012
26531 posts
Posted on 2/25/14 at 3:43 pm to
Interviewed with them and New York Life out of college.

NYL offered $30k base pay plus commission.

Basically, you're gonna find a way to grow your book of business any way possible.

Unless you want to be in sales, don't do it.
Posted by Geauxld Finger
Baton Rouge
Member since Jan 2005
31735 posts
Posted on 2/25/14 at 3:43 pm to
total scam and soul less if you ask me. I assume its the selling of life ins policies? 100% commission based work is awful imo
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 2/25/14 at 3:43 pm to
It's actually a good company. They are hard on the sell though.


<---- Never worked for them but know some agents
Posted by 9th life
birmingham
Member since Sep 2009
7310 posts
Posted on 2/25/14 at 3:47 pm to
a good friend of mine here in B'ham worked for them. He left them for another shop though. He said the training/knowledge he picked up was top notch, but that he felt he could make more/do more at another place. Something to do with he can't collect commissions on clients he brought in unless he was with NW, whereas I guess with other companies the commissions follow you if you sold the products. don't quote me on that exactly because I am not 100% sure if that is how it works, just the gist I gathered from what he told me.
Posted by toca16
Member since Feb 2014
245 posts
Posted on 2/25/14 at 3:47 pm to
quote:

t's actually a good company. They are hard on the sell though.


<---- Never worked for them but know some agents


I just couldn't get up every day knowing my well-being is decided by the feelings and decisions of those that I will approach that day.

Don't get me wrong, in addition to being a manager I also do biz development but sales is not what I rely on to live.
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
75219 posts
Posted on 2/25/14 at 3:58 pm to
Can't be worse than Edward Jones.
Posted by AngryBeavers
Member since Jun 2012
4554 posts
Posted on 2/25/14 at 3:58 pm to
quote:

It seems kind of fishy to me. The pay is 100% commission.


Nothing fishy about it. You will be a salesman peddling life insurance and other Northwestern Mutual financial products. You will be expected to hound your friends and family and gain referrals. I don't believe those kinds of companies provide leads. If that is what you want to do then go for it.
Posted by Lsupimp
Ersatz Amerika-97.6% phony & fake
Member since Nov 2003
78666 posts
Posted on 2/25/14 at 3:59 pm to
I'm 100 % commission. All my 100% commission buddies laugh at salaried employees and call them clock monkeys. The thought of "salary" repels us, because we read it as "income cap". Salaries are for chumps in our world. They are a ceiling, a limit on our production. Every time I explain this to a down-on-his-luck-young-guy I can see the skepticism as if I'm a con man. I offered an opportunity to a 20-something recently, and he just couldn't see it. It's like he was seeing hieroglyphics for the first time. Yet I could take him and turn him from an unemployed guy to a serious earner in the span of 18 months. People want that low-ball guarantee like oxygen, but they are scared as hell of real opportunity because it requires them to REALLY apply themselves. For the record, google those NW Mutual guy's (that have been there for a while) addresses and check out their digs. Pay attention to the guys over forty. It will tell you what you need to know.

Whew. Been wanting to get that out....
Posted by toca16
Member since Feb 2014
245 posts
Posted on 2/25/14 at 4:01 pm to
quote:

I'm 100 % commission. All my 100% commission buddies laugh at salaried employees and call them clock monkeys. The thought of "salary" repels us, because we read it as "income cap". Salaries are for chumps in our world. They are a ceiling, a limit on our production. Every time I explain this to a down-on-his-luck-young-guy I can see the skepticism as if I'm a con man. I offered an opportunity to a 20-something recently, and he just couldn't see it. It's like he was seeing hieroglyphics for the first time. Yet I could take him and turn him from an unemployed guy to a serious earner in the span of 18 months. People want that low-ball guarantee like oxygen, but they are scared as hell of real opportunity because it requires them to REALLY apply themselves. For the record, google those NW Mutual guy's (that have been there for a while) addresses and check out their digs. Pay attention to the guys over forty. It will tell you what you need to know.

Whew. Been wanting to get that out....


You definitely speak at those MLM rallies.......
Posted by AngryBeavers
Member since Jun 2012
4554 posts
Posted on 2/25/14 at 4:02 pm to
quote:

I'm 100 % commission. All my 100% commission buddies laugh at salaried employees


Depends on what you're selling but I tend to agree with you.
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 2/25/14 at 4:04 pm to
quote:

I just couldn't get up every day knowing my well-being is decided by the feelings and decisions of those that I will approach that day.


I understand, but this is basically the same thing that anyone who is self-employed or owns their business does.
Posted by LigerFan
Member since Jan 2014
2711 posts
Posted on 2/25/14 at 4:06 pm to
I was offered an internship with them a couple summers ago. I was going to take it until I asked myself "why would someone buy life insurance from a 20 year old?"
Posted by toca16
Member since Feb 2014
245 posts
Posted on 2/25/14 at 4:06 pm to
quote:

I understand, but this is basically the same thing that anyone who is self-employed or owns their business does.



Yes and no... some products are needed to survive and function. Insurance is not like gasoline, glass, tires, etc.... there is a buffer there.

I am in another world of work FWIW
Posted by Golfer
Member since Nov 2005
75052 posts
Posted on 2/25/14 at 4:07 pm to
quote:

I was going to take it until I asked myself "why would someone buy life insurance from a 20 year old?"


I bought my first policy at 23?

Good idea for anyone with obligations when they are young and healthy.
Posted by Geauxld Finger
Baton Rouge
Member since Jan 2005
31735 posts
Posted on 2/25/14 at 4:07 pm to
quote:

I'm 100 % commission. All my 100% commission buddies laugh at salaried employees and call them clock monkeys. The thought of "salary" repels us, because we read it as "income cap". Salaries are for chumps in our world. They are a ceiling, a limit on our production. Every time I explain this to a down-on-his-luck-young-guy I can see the skepticism as if I'm a con man. I offered an opportunity to a 20-something recently, and he just couldn't see it. It's like he was seeing hieroglyphics for the first time. Yet I could take him and turn him from an unemployed guy to a serious earner in the span of 18 months. People want that low-ball guarantee like oxygen, but they are scared as hell of real opportunity because it requires them to REALLY apply themselves. For the record, google those NW Mutual guy's (that have been there for a while) addresses and check out their digs. Pay attention to the guys over forty. It will tell you what you need to know.


it takes certain types of people to do this. I wouldn't want to annoy the frick out of friends and family to hock them ins policies and financial bs. I guess i liken it to going into a bar and asking every woman in the bar out. most will say no, but probably one or two will say yes.

if you are ok with 90% rejection i guess that's your prerogative. i prefer salary with benefits complimenting performance
Posted by Moustache
GEAUX TIGERS
Member since May 2008
21556 posts
Posted on 2/25/14 at 4:08 pm to
quote:

I just couldn't get up every day knowing my well-being is decided by the feelings and decisions of those that I will approach that day.

Don't get me wrong, in addition to being a manager I also do biz development but sales is not what I rely on to live.



If you work for any company, your fate is decided by the decisions of your company's clients regardless of role.

However, I understand not wanting to be in sales. I'm in sales, and I wouldn't touch a 100% commission job. I have salary + bonus. Best way to do it for me.
However, I know many guys who like commissioned sales because there's no capping your work and you're paid solely on how good you are at your job. Of course, you better save up during the good times because the bad always comes.
Posted by ThisWayChad
Member since Nov 2009
2531 posts
Posted on 2/25/14 at 4:08 pm to
quote:

I understand, but this is basically the same thing that anyone who is self-employed or owns their business does.


Agreed. I could never be in sales, but NW Mutual is a solid company.
Posted by AngryBeavers
Member since Jun 2012
4554 posts
Posted on 2/25/14 at 4:08 pm to
Insurance is a very important piece of a solid financial plan. I think financial services can get a bad rep because they are not necessarily tangible or give immediate gratification. Now whether or not Northwest Mutual policies are good or not is another debate.
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