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Started By
Message
Northwestern Mutual financial representatives
Posted on 2/25/14 at 3:41 pm
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?
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 on 2/25/14 at 3:42 pm to Tigerfan56
Sucks during your 20's. Start making bank in your 40s and 50s
Posted on 2/25/14 at 3:43 pm to Tigerfan56
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.
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 on 2/25/14 at 3:43 pm to Tigerfan56
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 on 2/25/14 at 3:43 pm to Tigerfan56
It's actually a good company. They are hard on the sell though.
<---- Never worked for them but know some agents
<---- Never worked for them but know some agents
Posted on 2/25/14 at 3:47 pm to Tigerfan56
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 on 2/25/14 at 3:47 pm to Golfer
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 on 2/25/14 at 3:58 pm to Tigerfan56
Can't be worse than Edward Jones.
Posted on 2/25/14 at 3:58 pm to Tigerfan56
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 on 2/25/14 at 3:59 pm to Tigerfan56
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....
Whew. Been wanting to get that out....
Posted on 2/25/14 at 4:01 pm to Lsupimp
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 on 2/25/14 at 4:02 pm to Lsupimp
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 on 2/25/14 at 4:04 pm to toca16
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 on 2/25/14 at 4:06 pm to Tigerfan56
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 on 2/25/14 at 4:06 pm to Golfer
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 on 2/25/14 at 4:07 pm to LigerFan
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 on 2/25/14 at 4:07 pm to Lsupimp
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 on 2/25/14 at 4:08 pm to toca16
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 on 2/25/14 at 4:08 pm to Golfer
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 on 2/25/14 at 4:08 pm to toca16
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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