Responsibilities: Performed rudimentary investment research on mutual funds, bond funds, and ETFs based on risk-risk measures. 10/10 would reject again. I heard from acquaintances that it was a pyramid-scheme and all they did was cold call. Financial Advising Intern - F500 Financials Co. It's like 98% of firms. Build on your classroom learnings while developing lifelong skills! 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. The process took 4 weeks. In short, the answer to your question is yes. 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) . Northwestern Mutual Financial Representative Intern in the United States makes about $20.09 per hour. 26:32. 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. There is a three step interview process. 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. 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. 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. 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. ... Northwestern Mutual is a big recognizable name and therefore most people trust them implicitly, but it's a shit company. I applied online. 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). Learn about Northwestern Mutual culture, salaries, benefits, … or shoes! At Northwestern Mutual ®, success is mutual.When you intern with us, you’re opening the doors to your future career. Most people have no clue what they’re talking about and just post mad shit because they had a bad experience with the company. 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? Ideal location post graduation: Minneapolis. 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 … Had the same experience and rejected it. 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. Press J to jump to the feed. 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. Pros. Are you looking for work similar to this? They were very easy and the offered important information on the internship. What do you think? Trust me, I was there and It was disgusting to see. 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. 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. 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. 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. Source(s): summer internship northwestern mutual financial network scam: https://shortly.im/h9Zh7. Indeed.com estimated this salary based on data from 11 employees, users and past and present job ads. When I said "none" they told me to think harder and to start asking around at my school. They then explain to me that senior employees get window offices and newer ones don't, okay great, I don't care. I'm glad to hear that you can agree with my story. This seems an awful lot like a upscale version of Vector/Cutco, just want to get some opinions of anyone else with experience here. My recruiter wanted a similar task completed, and said that Thanksgiving would be an especially great time to prospect clients, that's just gross. This is 100% what they wanted me to do with my dad and his friends/coworkers, and I was't about to. 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 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. My accounting prof said the same thing, even the Business School career center says not go for it if they offer it. Tons of great salary information on Indeed.com They seem to have a pretty high ranking internship program at least according to their site but obviously that can be biased. Thanks. Learn about Northwestern Mutual culture, salaries, benefits, work-life balance, management, job security, and more. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. Northwestern Mutual's approach to the coronavirus (COVID-19) ... Financial internships that really pay off. It's considered an independent contractor (1099) but you have to report to your general agent. I have applied to other internships, this one just messaged me randomly and I never applied. Does anyone have experience with them and this internship program of theirs? Very sketchy internship. Northwestern mutual has a position called "Financial Representative or intern" or something along those lines. Northwestern's compensation package only promotes a cutthroat environment and a money-seeking disposition. What drew me away was the same concept of trying to sell to my friends and family. Wow! Turned that down real quick! I thought the same thing about New York Life too. Lemme know what you think about em, I'm kinda on the fence. 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". 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. That's some crap you never want to do, go around college selling life insurance to kids who can't afford it. Glad you came to the smart decision. Had the same experience when I interviewed with them for a full-time position. Plus, in 2020 Vault ranked us #5 within the financial services industry and also ranked us in the top 10 for overall career development.". He quit the first day when they asked him to call someone on his contacts list and sell them insurance they dont need. It really is the worst. Yes, you'll be on the phone a lot - especially at first. During COVID-19 they were all on the phone. New comments cannot be posted and votes cannot be cast, More posts from the FinancialCareers community. Northwestern Mutual as a company is great -- strong financial stability, security, etc, but the culture within their system for women and POC is horrible. The Inner Class 2,318 views. Cons. the 1-4 you listed isn't just NWM. All these FAs selling products they don't even understand to people who understand it even less. 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. Awarded in the Insurance category: Life & Health industry, Fortune magazine's annual survey, 2017. View Disclosures Hide Disclosures . 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. 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. Episode 16 - With #1 Intern in the Nation for Northwestern Mutual - Duration: 26:32. 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. Current Intern - Sales Representative in San Francisco, CA. They say they value diversity and inclusion, but the moment you don't "fit in" they make you an outsider. These people are sharks and can smell the life insurance sales dripping from your phone contacts and high school year book. even though I never dealt with them, this was 100% what I expected of this internship a decade ago. 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. 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 Get real-world experience in finance internships at your Irvine, CA Northwestern Mutual office. I recently was invited to come meet with someone at the local NM office by their college campus director. Disapproves of CEO. It all felt super weird, I ended up getting some advice from a professor who told me to stay away from them. 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". 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). 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. It’s not a job that anyone can do, or would enjoy doing. I went over the materials that I was sent to prepare for my first real interview, it contained two videos and a booklet. 426 reviews from Northwestern Mutual employees about working as a Financial Representative Intern at Northwestern Mutual. The management in my particular location/agency was absolutely heinous. 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! or don't do it under any circumstances? 90 reviews from Northwestern Mutual employees about working as an Intern at Northwestern Mutual. Former Intern - College Financial Representative I worked at Northwestern Mutual . School: non-target in the upper midwest. 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. Wasted their summer and hardly made a dime. Helpful full-time advisors come along side to offer experience, advice, and leadership in meetings with potential clients. Turns out he was for his practice and I started. That was sketchy. 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. They ranked the interns WEEKLY and the top intern got to have his or her own office, instead of being in the "bull pen". It's a sham of an "internship" and it should not even be considered. This includes your parents, your friends, cousins, your friend's cousins, your friend's cousin's parents, and so forth. 2. Pros. "Northwestern Mutual is the only company to be recognized as a top 100 internship program1 for 24 straight years. The announcement comes as Northwestern Mutual celebrates the 50 th anniversary of its industry-leading internship program. One final note: I do not have any interest in becoming a financial advisor. Interview. Haha they kept asking me how many people do I know that would be interested in insurance. My brother took an "internship" this summer with Northwestern Mutual. Literally had the same experience! I didn’t even accept an interview with them. WM at the big 4 is very similar. 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. This link below will completely back up … We sit down in his window office (because he must be successful) and talk about the actual job. Press J to jump to the feed. 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. It recruits summer analysts and … If so, do not do it. "Northwestern Mutual is the only company to be recognized as a top 100 internship program1 for 24 straight years. Plus, in 2020 Vault ranked us #5 within the financial services industry and also ranked us in the top 10 for overall career development." It can be a great job for the right type of person. Plan your career in the wide world of finance. Is the summer internship with Northwestern Mutual Financial Network a scam? Good choice too! 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! Press question mark to learn the rest of the keyboard shortcuts. Wow, I literally posted about interviewing with Northwestern Mutual yesterday, that's interesting. I'd love to share with you! Northwestern Mutual is the only company to be recognized as a top 100 internship program 1 for 24 straight years. Doesn't Recommend. 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. 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. Sounds like deception is a common tactic in a lot of these recruiting scenarios. The entire internship was so full of pressure that it really took a toll on me, personally. Discussions about navigating the internship process from application to full time offer. That is true, but when the majority of people tell me that I will be told to sell to friends and family for a finance position I probably will need to believe them, I have read dozens of people saying the same things on other posts for this company. It is basically a pyramid scheme like Vector marketing (selling knifes door to door). 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