They say they value diversity and inclusion, but the moment you don't "fit in" they make you an outsider. During COVID-19 they were all on the phone. Time and time again, reps would bombard student org meetings and college classes to talk about finance careers (re: Northwestern Mutual internship program and recruitment). Internship program is always ranked in the top internships nationally. Yes, you'll be on the phone a lot - especially at first. This seems an awful lot like a upscale version of Vector/Cutco, just want to get some opinions of anyone else with experience here. Get real-world experience in finance internships at your Irvine, CA Northwestern Mutual office. I told them that I already have a decent-paying job for a college student (I am a personal banker and have a good history of experience) and that I am looking for an internship with wealth management, financial advising, or trust, the rep sold me hard on this internship that they offer to a few select students and that it's a financial advising position, I was stoked, they even told me that's it's a regular occurrence to get your CFP license while in the internship, that would be awesome! Overall Northwestern Mutual is a great place to work. But you are right, all they wanted was the people I knew. The line that they gave me that got me interested in the first place was the allure of getting the CFP, that will most likely never happen here. Lemme know what you think about em, I'm kinda on the fence. 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. The firm's summer advisory internship program received the highest score among the 10 best investment bank internships. For the 2nd interview, the had me fill out a form of 200 people I knew that could benefit from their products. 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. 4: If they are willing to lie to me and/or others about what this really is I think they already know that most people aren't cut out for this kind of work. Pros. Glad you came to the smart decision. Turned that down real quick! 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 thought the same thing about New York Life too. $0/mo. Press J to jump to the feed. Trust me, I was there and It was disgusting to see. Had the same experience when I interviewed with them for a full-time position. It didn't seem right to me and the way it was presented to me was that I was simply seeing if I could do this job, the resume that I handed them already told them that am more than capable of doing so but who knows if this guy even read it, it seemed like he didn't after having to "refresh himself" on it. "Northwestern Mutual is the only company to be recognized as a top 100 internship program1 for 24 straight years. Why I rejected the Northwestern Mutual "Internship" I recently posted here asking about the NM internship that so many of us have been offered over the years and was advised not to take it, this is the short story of how I came to the conclusion that this isn't a … 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. New comments cannot be posted and votes cannot be cast, More posts from the FinancialCareers community. The interview conversations covered; My dad and his job, how “popular” I was in my hometown, and if I’ve talked to my friends about life insurance before. When researching these firms their information can be found on the advisor portal and you can learn exactly what the firm does through there ADV pt II. 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. Since its inception, more than 50,000 students nationwide have participated, and Northwestern Mutual is the only company recognized by Vault as a Top 10 internship for 22 consecutive years. Pros. They then explain to me that senior employees get window offices and newer ones don't, okay great, I don't care. 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. Wow, I literally posted about interviewing with Northwestern Mutual yesterday, that's interesting. We are pleased to present the 2016 Top College Intern Achievement Award to Alex Meduna of the Tews Network Office. There was also something sus when at a group interview, the person mentioned that interns made about $100k in one summer from commissions. Build on your classroom learnings while developing lifelong skills! My accounting prof said the same thing, even the Business School career center says not go for it if they offer it. If you are still looking for a way to break into the space look for RIAs in your area that are more "boutique" they aren't interested in your friends and family. Northwestern Mutual is the only company to be recognized as a top 100 internship program 1 for 24 straight years. 90 reviews from Northwestern Mutual employees about working as an Intern at Northwestern Mutual. Doesn't Recommend. They were very easy and the offered important information on the internship. Fortune 500 company that brings a lot of experience to the table. My recruiter wanted a similar task completed, and said that Thanksgiving would be an especially great time to prospect clients, that's just gross. The announcement comes as Northwestern Mutual celebrates the 50 th anniversary of its industry-leading internship program. The MLM language really bothered me and that's one of the largest reasons why I feel how i do towards them, it comes off as very non-genuine. I had a friend work there. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. 0 0. He seems to be getting brainwashed and being given awful financial advice. The Inner Class 2,318 views. 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". Responsibilities: Performed rudimentary investment research on mutual funds, bond funds, and ETFs based on risk-risk measures. GPA: 3.71. 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 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. It really is the worst. or don't do it under any circumstances? Financial Advising Intern - F500 Financials Co. WM at the big 4 is very similar. It is basically a pyramid scheme like Vector marketing (selling knifes door to door). 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 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! 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". Helpful full-time advisors come along side to offer experience, advice, and leadership in meetings with potential clients. If you're interested in the whollistic side of things, find a firm where the managers also participate in insurance sales. I ask them some real questions about their experience and what not, they've been here for about 7 years including the internship, they're fairly good at doing this but they also primarily meet with college students to recruit them, and that's where they get paid. Haha they kept asking me how many people do I know that would be interested in insurance. But wow your post summed up exactly my impression of North Western Mutual. What drew me away was the same concept of trying to sell to my friends and family. Nowhere in it does is really describe what you're doing, who you're calling, or what the benefit of this is to you but some very generic "build your own *success*" jargon. Literally had the same experience! I went over the materials that I was sent to prepare for my first real interview, it contained two videos and a booklet. View Disclosures Hide Disclosures . I try to talk anyone out of it who is being recruited. That's some crap you never want to do, go around college selling life insurance to kids who can't afford it. 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. Is the summer internship with Northwestern Mutual Financial Network a scam? Current Intern - Sales Representative in San Francisco, CA. First, you must understand that NW has a duality. the 1-4 you listed isn't just NWM. my friend told me he got an internship at northwestern mutual as a financial advisor and i was happy for him until i looked it up and realized it's a sales position and more importantly, a disguised mlm scheme. I took that knowledge and went to another bank full time for a short time before I moved and joined with who I'm with right now. DO NOT fall victim to companies like this! When I said "none" they told me to think harder and to start asking around at my school. They seem to have a pretty high ranking internship program at least according to their site but obviously that can be biased. Day In The Life – Intern - Duration: 5:27. 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. Why would any right minded person give their money away to a 20 year old kid whose selling life insurance is beyond me. What do you think? Awarded in the Insurance category: Life & Health industry, Fortune magazine's annual survey, 2017. Discussions about navigating the internship process from application to full time offer. The kids in the program always saw me and seemed like they were better than me because they were part of this dumb scheme. Ideal location post graduation: Minneapolis. 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. This is where it gets really pyramid scheme-like and MLMish. 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. 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. I interviewed at Northwestern Mutual in September 2020. The videos were pretty standard "this is how great this job is I love my life as a corporate zombie", but the booklet is what's great. 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). These people are sharks and can smell the life insurance sales dripping from your phone contacts and high school year book. 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. He quit the first day when they asked him to call someone on his contacts list and sell them insurance they dont need. It can be a great job for the right type of person. Had the same experience and rejected it. It's a sham of an "internship" and it should not even be considered. 1. The management in my particular location/agency was absolutely heinous. In short, the answer to your question is yes. Former Intern - College Financial Representative I worked at Northwestern Mutual . ... Northwestern Mutual is a big recognizable name and therefore most people trust them implicitly, but it's a shit company. I recently was invited to come meet with someone at the local NM office by their college campus director. That was sketchy. It’s not a job that anyone can do, or would enjoy doing. Interview. 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 made me very excited for the further parts of the interview process! Tons of great salary information on Indeed.com Northwestern Mutual as a company is great -- strong financial stability, security, etc, but the culture within their system for women and POC is horrible. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. 426 reviews from Northwestern Mutual employees about working as a Financial Representative Intern at Northwestern Mutual. I have been working at Northwestern Mutual for less than a year. There is a three step interview process. We sit down in his window office (because he must be successful) and talk about the actual job. Make your own schedule and you get to be out interacting with clients. 2. Pros. 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. 3: You will be selling Insurance to your friends and family, and you will be required to have those same people give you more referrals for you to call. Northwestern Mutual's approach to the coronavirus (COVID-19) ... Financial internships that really pay off. I don’t recommend it. I had the same experience with Prudential. "Northwestern Mutual is the only company to be recognized as a top 100 internship program1 for 24 straight years. Sounds like deception is a common tactic in a lot of these recruiting scenarios. Press J to jump to the feed. My brother took an "internship" this summer with Northwestern Mutual. Financial Representative - Monthly Intern. Should I only do it if the other internships do not message me back? This link below will completely back up … I heard from acquaintances that it was a pyramid-scheme and all they did was cold call. Wow! I have a low GPA and no previous internship experience so I ate all that up at first. It's considered an independent contractor (1099) but you have to report to your general agent. Plus, in 2020 Vault ranked us #5 within the financial services industry and also ranked us in the top 10 for overall career development." 2: You aren't gaining relevant experience to what you probably want to do. 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) . My honest review of the Northwestern Mutual Financial Advisor internship I did in the summer of 2017. Trust me, companies like Northwestern Mutual are 100% real, but they honestly set you up to 100% fail! Although I didn’t end up liking what I did, that role put me in a better spot overall. The process took 4 weeks. I applied online. 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. Range: $393 - $431. I didn’t even accept an interview with them. NM is mostly concerned with the people you know, hence why the interviewer asked more questions about my dad and who he works for and how many people he knows, they were prospecting my dad before they really knew who I was. 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