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Employee Review of Northwestern Mutual - Check out more reviews of working at Northwestern Mutual

3.1Rating Details
Category
Pay1
Respect3
Benefits1
Job Security4
Work/Life Balance5
Career Growth3
Location3
Co-Workers4
Work Environment4

From South Tampa, FL — 12/10/2009

Having worked for NML for over a year before I realized what this place was, I can easily decipher which reviews are correct and which have been published by MP's and MD's that don't want to scare away their precious "recruits". First of all, NML has a huge "intern" program that it uses to suck in potential finance and accounting graduates from local schools. I use "" when describing internship with NML because quite frankly, all you do is get a Life, Health, Fixed Annuity license and then proceed to set up "appointments" with friends and family. At this point with all of your "training" you know nothing other than what the Big Dog has taught you in the 215 course. You know NOTHING of NML rates, policy exclusions, ratings, etc...Therefore you just bring along your MD or another "veteran adviser". They call it joint work and all it really consists of is bringing someone else in on some business you scrounged up through your relationships and they attempt to figure all of their disposable income into some BS policy that is like a prison sentence for your cash flow. They also get a smooth 50% if not more cut of the commissions on your business. Thanks NML. If that program sounds wonderful then you get to interview for the "agent" position. This interview consists entirely of questions involving people that you have relationships with. The typical questions involving your skill set, knowledge, and understanding of finance regulation and applicable laws are entirely absent. Instead, expect questions like "If we were to hire you for this position, who would be the first group of people that you would contact?" and gems like: "Who are some of the most wealthy and influential people you know?" You could literally lie and get the job, take the $4,000 "training" stipend and ride like the wind (which I highly suggest you do). Then you start your wonderful career. Time to start calling 40 people a day. Set six appointments to meet with people and try to sell them overpriced insurance on the grounds of "financial stability" since everyone and their mother can offer the same products for less money. Since your training is nothing but a huge PR propaganda stunt, you know nothing of annuity policy details, universal life, adjustable comp life, NOTHING. You know plain term and whole life (which you learned to get your license). As a nice rule of thumb they tell you to do 90% joint work. Meaning that you can expect half of your commissions for the next year to be sniped by some idiot who knows zilch about finance and ethics. A sleezy used car salesman would be perfect for this job. Most of your "continuing education" revolves around going on trips to hear about other agents who sold their friendships down the river for a shot at coercing money from unsuspecting clients. If you make it 20 years and do the minimums, you are filthy rich. Unfortunately, you have no friends other than the rest of the pods that are doing the same thing for joy of constant selling. After you make absolutely no money busting your ass and taking these idiots out to try and sell your contacts, they tell you that you just don't believe in the career enough and you need to do more. Any self respecting individual would not be able to put up with the crap you have to go through. Everyone is looking out for their own pocket because frankly, everyone else is just as poor and going into debt for this multi-billion dollar company as well. If you work at the GA like I did, forget it. It is an absolute joke. Between having to constantly report how many people you have legally conned out of retirement savings, you must also answer to a slew of secretaries, an MD, an MP, and anyone else who feels the need to shoulder you with more responsibility than you already have. At this time you're just trying not to live in a box off of I-275 or ruin your credit for life. Your joint work partners are 9/10 times nothing more than uneducated scammers who know nothing of finance and common sense, but could sell water to a well. That's what you can look up to. Joint work means you do all the work and we'll come in; say a few misleading statements, a few canned responses, sign the paperwork and get half the commission. I will say I did meet some great people there but overall this is a terrible place to work. Make sure you keep an eye on your commissions while you are there. They tell you that your tap incentive means 82.5% of annual premiums per policy. What they don't tell you is that your MD is going to keep 20% of that in case you get a charge back...which happens A LOT. I've heard people say that people "eat what they kill". I suppose that's true except for the fact that you can make 100 calls a day and no one will meet with you. It's a good first job to get the experience of the corporate world but just like any other law firm, these guys are going to run you into the ground for no money unless you scrounge, prod, and plunder your way to the top. Overall for experience I give it a 9/10 and for overall employment a 2/10
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