NW Mutual Question - Summer Interns, any inside info?

I can't answer your question.

But I would presume that there would be benefit to that type of internship.

You see different styles of training. Different styles of management. Different styles of organization.
Different styles of work ethic.

There is a lot of value for someone green to see how a very established and very intentional organization handles business.

Honestly, you saying that you are doing their research for them tells me your family member needs to stay away from anything sales related.

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The selling to your mom, dad, cousin and dog isn’t what they’re after really.

I don't know what this quote means.

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Interns usually try to bring in clients and that's who they go after.

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They’re a freshman this year so the internships are pretty limited since due to age,

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If options are limited I don’t know that it hurts to go with NWM. You really owe it to them educate them going in, so they know what NWM is all about. They should be able to learn from the experience, though, which is very valuable at that age.

FWIW family member didn’t ask me to do research. They’re a finance major so I’m trying to help educate them on different career paths since I’m in finance as well. Unfortunately I’m 50 and have been out of the job search game a while now so just trying to do some digging to help advise them better on a career path. They’re also a freshman so I’d say very green as well. Had they been a senior and not doing the research themselves then I’d agree with you.

I just remember a year after graduating I’d have every NW Mutual, Edward Jones etc asking me for appointments only to sell me on whole life and other crap products. That’s not what I would guide this person to do so I’m just trying to make sure they’re intern program isn’t geared towards the same.

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The selling to your mom, dad, cousin and dog isn’t what they’re after really.

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Jobs/internships have 3 main factors

1) quality of experience/how it sets you up for your future

2) happiness working the job- this can be derived from great/shitty work life balance, how much you enjoy the actual work, etc.

3) how much you are getting paid

Based on what you‘ve said #1 and #2 probably aren’t going to be great for your family member at northwestern mutual. Not sure exactly what their payment structure is but I’d guess the vast majority of their summer interns probably aren’t making a ton. Decision to do something else with your time seems clear to me. BOL with whatever they end up deciding on

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They’re a finance major so I’m trying to help educate them on different career paths since I’m in finance as well.

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Maybe someone has already asked this and I missed it, but what other finance related summer internships or opportunities are on the table?

If the alternatives involve just working retail (or whatever) to make some money for the next school year, I think this would be a more valuable learning experience - even if it’s not positive in the end. You can learn from less than positive experiences too.

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Shits for the birds these days lol

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My memories from 30 years ago aren’t so pleasant either.

I’d say that she should get some deeper details about what the internship will involve, and then compare it to other options.

How can banking be fun?
How can banking go from being fun to not being fun?

As a client 15+ years ago, their best product was own occupation disability insurance. To get this, I had to sit thru the sales pitch of front loaded funds (American Funds) and whole life insurance.

The vibe seemed more sales than fiduciary money management.

After freshman year in college, getting a summer job working construction at the plants for Turner Industries or on the grass crew at the plants would be better for the kid, both financially that summer, as well as for learning life lessons/motivation to stay in school/keep grades up.