They seem to have a pretty high ranking internship program at least according to their site but obviously that can be biased. At Northwestern Mutual ®, success is mutual.When you intern with us, you’re opening the doors to your future career. Press J to jump to the feed. Responsibilities: Performed rudimentary investment research on mutual funds, bond funds, and ETFs based on risk-risk measures. "Northwestern Mutual is the only company to be recognized as a top 100 internship program1 for 24 straight years. Always keep that in mind, “I had a bad experience at _____, so you will too,” isn’t always the best argument when it comes to searching for a job experience. Fortune 500 company that brings a lot of experience to the table. Current Intern - Sales Representative in San Francisco, CA. I guess ill just hope for others and take it as a last resort for the resume building. Wow! Press J to jump to the feed. 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. I don’t recommend it. Had the same experience and rejected it. Pros. GPA: 3.71. What drew me away was the same concept of trying to sell to my friends and family. School: non-target in the upper midwest. Plus, in 2020 Vault ranked us #5 within the financial services industry and also ranked us in the top 10 for overall career development." The woman who interviewed me even asked how much money I had in my savings account because I “probably wouldn’t be making very much money for the first half-year.” Never responded to any inquiry again after that. 2. 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. lol this should be pinned/stickied. Turned that down real quick! This is 100% what they wanted me to do with my dad and his friends/coworkers, and I was't about to. It really is the worst. It's considered an independent contractor (1099) but you have to report to your general agent. It made me very excited for the further parts of the interview process! They ranked the interns WEEKLY and the top intern got to have his or her own office, instead of being in the "bull pen". 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. Lemme know what you think about em, I'm kinda on the fence. They weren't quite as upfront about how much they're just using you for your network, and they also pulled the bait and switch on me talking about how they don't believe in cold-calling, that they'd pay for my credentialing, and reassuring me that it would be a comprehensive financial planning internship, followed by the would-be "mentor" sending me an Excel spreadsheet asking for 100 names of friends, family, and people I've meet through my current sales network. I try to talk anyone out of it who is being recruited. 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. What do you think? Northwestern Mutual Internship (Originally Posted: 10/15/2007) I did a search and noticed the recent post about the Internship through Northwestern Mutual and was surprised at the negativity. 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). My honest review of the Northwestern Mutual Financial Advisor internship I did in the summer of 2017. 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. Essentially this comes down to knowing one thing to find out if this is a good opportunity for you: are you willing to make a list of all the people you know who might be willing to buy life/disability insurance from you, and are you willing to call them over and over again until they say they wish they had never met you? If so, do not do it. Trust me, companies like Northwestern Mutual are 100% real, but they honestly set you up to 100% fail! 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. It all felt super weird, I ended up getting some advice from a professor who told me to stay away from them. But wow your post summed up exactly my impression of North Western Mutual. Is the summer internship with Northwestern Mutual Financial Network a scam? Northwestern Mutual's approach to the coronavirus (COVID-19) ... Financial internships that really pay off. I had a friend work there. $0/mo. During COVID-19 they were all on the phone. Turns out he was for his practice and I started. We sit down in his window office (because he must be successful) and talk about the actual job. Press question mark to learn the rest of the keyboard shortcuts. One final note: I do not have any interest in becoming a financial advisor. The kids in the program always saw me and seemed like they were better than me because they were part of this dumb scheme. But you are right, all they wanted was the people I knew. It's a sham of an "internship" and it should not even be considered. Are you looking for work similar to this? 26:32. Press question mark to learn the rest of the keyboard shortcuts. Build on your classroom learnings while developing lifelong skills! Overall Northwestern Mutual is a great place to work. I thought the same thing about New York Life too. 2: You aren't gaining relevant experience to what you probably want to do. Sounds like deception is a common tactic in a lot of these recruiting scenarios. Northwestern Mutual Financial Representative Intern in the United States makes about $20.09 per hour. 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. That was sketchy. Cons. Thanks. 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. ... Northwestern Mutual is a big recognizable name and therefore most people trust them implicitly, but it's a shit company. 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 good choice for a vast majority of people. Thread Northwestern Mutual Internship Author Date within 1 day 3 days 1 week 2 weeks 1 month 2 months 6 months 1 year of Examples: Monday, today, last week, Mar 26, 3/26/04 Disapproves of CEO. Plus, in 2020 Vault ranked us #5 within the financial services industry and also ranked us in the top 10 for overall career development. The people there are very friendly, helpful and motivated individuals. It is basically a pyramid scheme like Vector marketing (selling knifes door to door). 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. The Inner Class 2,318 views. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. This includes your parents, your friends, cousins, your friend's cousins, your friend's cousin's parents, and so forth. Some pros of working at Northwestern Mutual include their top training program, amazing mentors, and the way the managing partners of each firm allow you to make your own schedule. However, they are more concerned with how well you can build and leverage your new network. Helpful full-time advisors come along side to offer experience, advice, and leadership in meetings with potential clients. The announcement comes as Northwestern Mutual celebrates the 50 th anniversary of its industry-leading internship program. It can be a great job for the right type of person. They emphasize that these people in the video are *successful* because they get up early, and they're *successful* because all they do is call all day. I heard from acquaintances that it was a pyramid-scheme and all they did was cold call. New comments cannot be posted and votes cannot be cast, More posts from the FinancialCareers community. Pros. Indeed.com estimated this salary based on data from 11 employees, users and past and present job ads. Financial Advising Intern - F500 Financials Co. 10/10 would reject again. This is where it gets really pyramid scheme-like and MLMish. Literally had the same experience! Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. 90 reviews from Northwestern Mutual employees about working as an Intern at Northwestern Mutual. Ideal location post graduation: Minneapolis. I'm glad to hear that you can agree with my story. 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. Selling insurance can be great, I know some brokers that are wonderful to work with but I don't think this is the stable job that graduates are looking for or should pursue, you don't need a degree to do this. Does anyone have experience with them and this internship program of theirs? 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. "Northwestern Mutual is the only company to be recognized as a top 100 internship program1 for 24 straight years. I interned at Northwestern Mutual during the summer of 2009 then through the following school year part-time and then again during the summer of 2010. 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. Why would any right minded person give their money away to a 20 year old kid whose selling life insurance is beyond me. All these FAs selling products they don't even understand to people who understand it even less. I have a low GPA and no previous internship experience so I ate all that up at first. They say they value diversity and inclusion, but the moment you don't "fit in" they make you an outsider. Interview. 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! I have applied to other internships, this one just messaged me randomly and I never applied. He seems to be getting brainwashed and being given awful financial advice. 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. If you're interested in the whollistic side of things, find a firm where the managers also participate in insurance sales. I had the same experience with Prudential. 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. Same experience with NWM here in my town, got in touch through the career fair and progressed through the interviews. It recruits summer analysts and … 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. the 1-4 you listed isn't just NWM. Tons of great salary information on Indeed.com 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). Discussions about navigating the internship process from application to full time offer. More posts from the internships community. The management in my particular location/agency was absolutely heinous. It’s not a job that anyone can do, or would enjoy doing. Range: $393 - $431. or don't do it under any circumstances? This link below will completely back up … I'd love to share with you! There was also something sus when at a group interview, the person mentioned that interns made about $100k in one summer from commissions. or shoes! I wonder if it is worth going to if I do not get any other internships to suck it up just to put it on my resume, or if it is better to do nothing than to do this internship. 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". In short, the answer to your question is yes. 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. That's some crap you never want to do, go around college selling life insurance to kids who can't afford it. 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! 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. Plus, in 2020 Vault ranked us #5 within the financial services industry and also ranked us in the top 10 for overall career development.". Awarded in the Insurance category: Life & Health industry, Fortune magazine's annual survey, 2017. Stay Woke! 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). My friend told me that the interviewer said he was in the top 10% of their applicants and that he'd be getting experience with finance and that a mentor would be helping. Good choice too! My recruiter wanted a similar task completed, and said that Thanksgiving would be an especially great time to prospect clients, that's just gross. Former Intern - College Financial Representative ... And although I got some good advice from people outside of the Northwestern Mutual bubble, nothing they told me really prepared me in the way that I wish I had been prepared. 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. Episode 16 - With #1 Intern in the Nation for Northwestern Mutual - Duration: 26:32. Wow, I literally posted about interviewing with Northwestern Mutual yesterday, that's interesting. My brother took an "internship" this summer with Northwestern Mutual. or a watch! For the 2nd interview, the had me fill out a form of 200 people I knew that could benefit from their products. The firm's summer advisory internship program received the highest score among the 10 best investment bank internships. I get to the interview, the interviewer is 12 minutes late, and I'm the one who was on time, what a good first impression. 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. Internship program is always ranked in the top internships nationally. Learn about Northwestern Mutual culture, salaries, benefits, work-life balance, management, job security, and more. Get real-world experience in finance internships at your Irvine, CA Northwestern Mutual office. When I said "none" they told me to think harder and to start asking around at my school. Day In The Life – Intern - Duration: 5:27. Pros. 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) . They were very easy and the offered important information on the internship. Source(s): summer internship northwestern mutual financial network scam: https://shortly.im/h9Zh7. It's like 98% of firms. These people are sharks and can smell the life insurance sales dripping from your phone contacts and high school year book. First, you must understand that NW has a duality. Plan your career in the wide world of finance. 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. Wasted their summer and hardly made a dime. I interviewed at Northwestern Mutual in September 2020. I was asked to interview with Northwestern Mutual for an internship program... after reading some other Reddit posts about it I am unsure what to think, some people said it was great and gave them experience but others said they only wanted you to sell insurance to your families and friends and were sort of an MLM. even though I never dealt with them, this was 100% what I expected of this internship a decade ago. This seems an awful lot like a upscale version of Vector/Cutco, just want to get some opinions of anyone else with experience here. Former Intern - College Financial Representative I worked at Northwestern Mutual . 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. Should I only do it if the other internships do not message me back? Haha they kept asking me how many people do I know that would be interested in insurance. Also feel free to PM me with any questions you have, I'm an open book. 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. There is a three step interview process. Doesn't Recommend. Very sketchy internship. Had the same experience when I interviewed with them for a full-time position. DO NOT fall victim to companies like this! 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. Glad you passed on it! 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. I recently was invited to come meet with someone at the local NM office by their college campus director. 426 reviews from Northwestern Mutual employees about working as a Financial Representative Intern at Northwestern Mutual. 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. 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. Financial Representative - Monthly Intern. I went over the materials that I was sent to prepare for my first real interview, it contained two videos and a booklet. Trust me, I was there and It was disgusting to see. 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 applied online. I have been working at Northwestern Mutual for less than a year. 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". Northwestern Mutual is the only company to be recognized as a top 100 internship program 1 for 24 straight years. We are pleased to present the 2016 Top College Intern Achievement Award to Alex Meduna of the Tews Network Office. Although I didn’t end up liking what I did, that role put me in a better spot overall. As a financial representative intern, you’ll have meaningful mentorships, access to strong professional networks, and immediate career opportunities with virtually unlimited earning potential. 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. 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. They then explain to me that senior employees get window offices and newer ones don't, okay great, I don't care. The process took 4 weeks. 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. Glad you came to the smart decision. I didn’t even accept an interview with them. WM at the big 4 is very similar. 1. Make your own schedule and you get to be out interacting with clients. 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. 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. He quit the first day when they asked him to call someone on his contacts list and sell them insurance they dont need. 0 0. This is a new “scam” that plagues college grads and desperate job seekers. Northwestern's compensation package only promotes a cutthroat environment and a money-seeking disposition. If this doesn't bother you that's fine, but this seem scummy to me. Learn about Northwestern Mutual culture, salaries, benefits, … Most people have no clue what they’re talking about and just post mad shit because they had a bad experience with the company. All commission, so for people who want to work hard and sell insurance. My accounting prof said the same thing, even the Business School career center says not go for it if they offer it. 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 … My biggest problem with Northwestern Mutual is the disdain college reps had for the fiduciary standard. The entire internship was so full of pressure that it really took a toll on me, personally. 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