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Northwestern Mutual
Posted on 10/17/22 at 5:37 pm
Posted on 10/17/22 at 5:37 pm
What is the story on this company? My son is a junior Finance major. He is interviewing for an internship this summer. Is it something he might get some benefit from or something to avoid? He's interested in financial planning/advising when he gets out.
12
Posted on 10/17/22 at 6:28 pm to tgrmeat
Hope he likes hitting up all his friends and family for their disability insurance needs
Posted on 10/17/22 at 6:30 pm to SlowFlowPro
(no message)
This post was edited on 11/18/22 at 11:20 am
Posted on 10/17/22 at 6:33 pm to tgrmeat
I started out with Mass Mutual. They, NW Mutual, and NY Life are basically the same.
Reputable companies, strong strong emphasis on insurance and heavy sales. They rely on young guys to come in, target family and friends and then wash out while their leads and few clients they picked up remain behind with upper management.
I would encourage him to look at a full service financial firm or some independent RIA if he’s lucky and can get his foot in the door somewhere.
Reputable companies, strong strong emphasis on insurance and heavy sales. They rely on young guys to come in, target family and friends and then wash out while their leads and few clients they picked up remain behind with upper management.
I would encourage him to look at a full service financial firm or some independent RIA if he’s lucky and can get his foot in the door somewhere.
Posted on 10/17/22 at 6:36 pm to tgrmeat
They’re a great company and he’ll learn a LOT while there but it’s not somewhere he will stay.
Posted on 10/17/22 at 6:38 pm to SlowFlowPro
quote:
Hope he likes hitting up all his friends and family
This is true. They’re predators when it comes to forcing agents to do this. NY Life is the same way. Two fantastic companies but pretty shitty in what they make their new guys do.
Posted on 10/17/22 at 7:38 pm to TDsngumbo
The emphasis on friends and family is because the young hires have no client base and it allows them to hone their craft and start building a book.
I understand people on the outside complaining. But honestly. Where else should a new hire start but within their own sphere of influence.
That doesn't endorse NW Mutual (or NY Life or Mass Mutual). But it explains logically why a rookie rep is going to do what he / she does.
I understand people on the outside complaining. But honestly. Where else should a new hire start but within their own sphere of influence.
That doesn't endorse NW Mutual (or NY Life or Mass Mutual). But it explains logically why a rookie rep is going to do what he / she does.
Posted on 10/17/22 at 8:41 pm to meansonny
quote:
I understand people on the outside complaining. But honestly. Where else should a new hire start but within their own sphere of influence.
How about purchasing leads, joining the local chamber of commerce, making connections within the real estate and mortgage industry, and you know - being a self-employed business owner. I tried NYL years ago and when they tried getting me to give them 200 names of people I know, I told them to kiss my arse. I don’t sell to friends and family because that’s a good way to lose friends and family.
Posted on 10/17/22 at 8:45 pm to tgrmeat
I remember one of my buddies from HS worked for them right out of college. I made it onto the infamous 200 people to cold call list. We graduated college at the same time and I had been working full time for about 3 weeks when they called. I was 22, had about 2k to my name and they were trying to sell me everything under the sun. I remember thinking, this dude is going to starve selling Insurance and financial services to a bunch of 20-24 year olds.
This post was edited on 10/17/22 at 8:46 pm
Posted on 10/17/22 at 9:26 pm to tgrmeat
Avoid that
Posted on 10/17/22 at 10:17 pm to TDsngumbo
If you cared about the job, you would do all of the above. Lol
You obviously didn't care. So it sounds like a "you" problem for taking a job that was a bad fit.
Splitting from that opportunity was the best thing for you. No need to be angry about it. You did what was best for you, eventually.
You obviously didn't care. So it sounds like a "you" problem for taking a job that was a bad fit.
Splitting from that opportunity was the best thing for you. No need to be angry about it. You did what was best for you, eventually.
Posted on 10/18/22 at 6:52 am to tgrmeat
Hate that company and companies like it. Whole life pushing hacks.
Posted on 10/18/22 at 6:55 am to meansonny
Let me guess, you are the head of a New York Life office in some place like Valdosta and have to believ that whole life is a sound investment because so many friends and family are locked into one that it is the only way you can sleep at night.
Posted on 10/18/22 at 7:01 am to meansonny
quote:
You obviously didn't care. So it sounds like a "you" problem for taking a job that was a bad fit.
There are lots of other opportunities for an insurance agent to be independent and not hassle their friends and family than to work for NYL or NWM.
Posted on 10/18/22 at 7:01 am to AlaskaAg
quote:
Let me guess, you are the head of a New York Life office in some place like Valdosta and have to believ that whole life is a sound investment
95% chance you are spot on
Posted on 10/18/22 at 7:09 am to TDsngumbo
quote:
There are lots of other opportunities for an insurance agent to be independent
Absolutely. I agree.
quote:
not hassle their friends and family
Asking someone if they have time or interest is not necessarily hassling them. Is it hassling non-friends and family who may be prospective clients.
I'm pointing out that you have an obvious bias in your perspective which appears to me to be flawed.
To you, sales is hassling people.
You haven't demonstrated any difference between a natural sphere of influence and any cold start to a sale.
quote:
than to work for NYL or NWM.
They gave you a job, man. Lol
Of all of the things to be bitter, I think you have this one wrong.
Like I said, it worked out for the best when you finally decided to cut ties. But would you rather they not give you a chance when you had no prior experience?
Posted on 10/18/22 at 7:22 am to TDsngumbo
quote:
quote:
Let me guess, you are the head of a New York Life office in some place like Valdosta and have to believ that whole life is a sound investment
95% chance you are spot on
I've never worked for a company like that.
I'm just your average Joe capitalist.
Hiring someone is one of the most noble things a person can do (especially when that someone has zero experience). It is extending dignity to that individual.
I am in sales. It took me a while to get my first career opportunity after college. I landed with a local mom and pop mortgage firm. The point of sales is to generate opportunities (at-bats). I had all of the knowledge, but was inexperienced at that time for origination. I had to teach myself how to get those at bats. 18 months later, I'm opening up my own branch.
I am just taken aback by how ungrateful you seem to a company that took a chance on you. And all they asked you to do was to let your sphere of influence know what you do to give you some t ball level at bats.
Posted on 10/18/22 at 8:10 am to TigerIron
quote:
It might even be a negative on a resume.
I'm not going to DV, but this is flat out wrong... 20 years ago I started with a different company, but it was similar shite and they taught me so much stuff that I still use today. I don't sell anything like that and eventually evolved to fee only, but not ever learning that would be a detriment. I definitely became a better advisor for it.
Anyone who has been in this business knows what I just said is true... making someone who goes through that crap more valuable.
Posted on 10/18/22 at 8:13 am to tgrmeat
Be prepared to work odd hours when potential clients are off from work and you can sit down and meet them to finalize the deal.
Learn supply chain management and work for a defense contractor.
Learn supply chain management and work for a defense contractor.
Posted on 10/18/22 at 8:36 am to meansonny
quote:
Hiring someone is one of the most noble things a person can do
Wait what? Don't these guys make mostly commission? I assume they get hired to make the company money; I doubt they were hired as a charity case.
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