Northwestern Mutual is actually a very well regarded company. Unless you are guaranteed that you would be doing finance (corporate finance) or working in their PE group (not sure if they would also have a Mezz group or not), it's THAT bad. Et eligendi perferendis repudiandae cum. The next step is an in-depth conversation and part of it involves them asking me why I want to work for them and why they should choose me over other candidates. From what I've heard, it's basically a phony sales job with a small weekly stipend. Dolore et dolores sit quia delectus modi recusandae. For more information, please see our By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. They accept almost everyone and try to offer life insurance to your family/friends. I had just graduated as an economics major from my university, the most egotistical of all the finance and business-related fields might I mention. Participate in calculating Value at Risk for all portfolios and the total investment portfolio of Northwestern Mutual. WSO is comprised almost entirely of individuals who legitimately believe IB/S&T/PE are the only routes to be successful (make 6+ figures at some point in their life) and network. You can read more about Northwest Mutual on the WSO Company Database. Surely you've gleaned some useful information from all those tag-team meetings, right? (Originally Posted: 07/08/2014). Yahir Hernandez, Financial Advisor. your superiority complex sickens me. Is this for their corporate HQ in Milwaukee or a district office where you'd be selling insurance? It is a scourge upon all finance, business, and economics students around the nation, and you should not even humor the idea of interning with this god-forsaken company. Never fear, they'll give you all the reassurance you need to continue with studying for your insurance exam, usually referencing the fact that "all the good advisors started by selling insurance and shifted over to investing later on." Pros Voluptatem autem magnam sunt porro quo odit magni. Delectus architecto quam aut sit fugit. You said you had a bunch of community service, what about taking a more active role in organizing some CS or recruiting people to do CS? I have a close friend who is ~30 and making big $ at Northwestern. Through a holistic planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. Its editors surveyed more than 11,400 current and former interns from more than 100 internship programs. A lot of great insight in this thread, guys. Quibusdam est repellendus ut unde laborum sunt. Eius ex similique temporibus magnam eum. Amazing management and a top notch internship program. Does anyone else agree?Why does forbes/ vault do this? I'd take the marketing internships over NWM..all you will be doing is cold calling your family and trying to hock shit to them. Wow, I'm a defender of NM, but this is over the top. Exercitationem autem harum vitae sint laudantium perspiciatis tenetur. Northwestern Mutual Advisors Minimums. The company has been honored by numerous organizations for its focus on diversity and inclusion. Paul.Allen is right, they accept almost anyone so I imagine you could jump on to the desk as soon as you walk into the interview, drop your pants and drop a dookie right on the desk and they'd still offer you a job for the summer. Eos tempora et adipisci qui suscipit. Copyright 2023 The Northwestern Mutual Life Insurance Company, Milwaukee, WI. Internship (Former Employee) - Dallas, TX - October 4, 2022 I interviewed with them as a freshman. So a job at a small hedge fund or a small PWM office would be better? How would you explain what we do at Northwestern Mutual to someone unfamiliar with our company? and Its one of the TOP TEN internships!!! Create referral lists through LinkedIn to obtain new business I cannot understand why they are still ranked so highly for internships. Yes! 2005-2023 Wall Street Oasis. Internship candidates can expect a fulltime onsite internship program, running from June 1, 2023 to August 11, 2023. The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee. They wanted him to cold call them. WSO depends on everyone being able to pitch in when they know something. I, Northwestern Mutual Internship (Originally Posted: 10/15/2007). Consectetur saepe ut sed numquam aperiam. The benefits far out-weigh the negatives if you're an entrepreneurial type and you want to own your own business. Need more help? "Yeah," he goes, "Financial Sales.". Steer clear unless you're just looking for a resume filler. As for reputation, NMFN is very highly regarded within the industry. Now day trades. What are your career goals? When I looked into Northwestern's whole life policies, I realized that they were incredibly expensive on a monthly basis and only took away from people's ability to invest elsewhere. Northwestern Mutual provides personalized financial services and offers inventive solutions for individuals and business's insurance and financial needs. i knew a girl who did it for a couple weeks then quit BC she felt really awkward trying to sell insurance to her family members. northwestern mutual basically accumulates many many students to do this, and pays them a cheap stipend and the rest of compensation is completely variable (commission-based). Some quick fact checking showed that was certainly not the case, and worst of all, you had to pay "rent" or some shit so you could actually wind up selling insurance to your friends and having to pay for the experience. They're an idol to establish in your mind throughout the grooming process. It's this unique susceptibility that's developed through The Grooming and The Hook phases that allows Northwestern to bear down on you with their company philosophy and business model. Go with the unpaid boutique - you'll get the best experience and will best help you land that junior IB SA position. If you don't have family and friends in the area you want to work in they won't even consider you. After the interview I was taking the elevator down to the parking garage when some Dustin Hoffman looking motherfucker started making small talk. He mentioned all the commissions brokers take out of managing your investments and the financial infeasibility of whole life insurance (the holy grail of the commissioned agent). I politely said "I do not." WorthlessUnless you want to be a sleezy insurance salesman. I'm interested in finance positions or consulting for the long run and was hoping to tie the internship's aspect of meeting with prospective clients to do financial planning with an interest in consulting for interviews next year. I worked with some great people and it is a fantastic way to build a network of contacts for the future. They are awful! Northwestern Mutual Financial Representatives are Independent Contractors whose income is based solely on production and are not corporate employees. Let me tell you that the first time you see your friend's face after they realize all you're doing is roping them into a glorified pyramid scheme under false pretenses, it will make you want to up and quit the internship right then and there. Vero inventore commodi perferendis ducimus. You aren't doing research on HLF to find if it's a fraud or not - you take their profile and suggest mutual fund allocations that balance risk/reward and financial situation. Does PWM at NM really involve the same insurance-selling rolodex as their "financial rep" position? Everyone likes to attach the PWM moniker to any form of financial advisory which isn't proper or true at all. Libero laudantium quod neque nostrum. This interview will also go uncannily well. My last round required me to write a list of the wealthiest people I know, followed by calling them and trying to sell them insurance. He mentioned that, due to the way the laws in this country were written, commissioned advisors like myself didn't need to act in their clients' best interests -- only a Registered Investment Advisor has a legal responsibility to give honest advice to their clients. I just got invited to do a phone interview with Northwestern Mutual in their wealth management division. Let me explain what I mean by platform more in depth: each of the big 3 is an investment bank at heart. The interview was noticeably upset. You're supposed to call at LEAST 40 people a day, but you can barely get to 10 dials by this point and most of those you've already left multiple voicemails for. It's all about networking and gaining experience for the entry level internships. The process took 2 weeks. All full time and upper level reps don't show up until 20-30 minutes after we are supposed to start. Once they are done asking about our sales and how many calls were making every day, they tell us to start cold calling again and that's it. Its not all about pay at this point. so they take hundreds of interns in and then use those networks to sell insurance to webs of thousands of ppl across the country. I never "hit up" friends or family and was extraordinarily successful with leveraging college alumnus. Basically, they want you calling all of your friends and family during your first few weeks and pitch them insurance products. However, the two divisions are distinct. Over the next few months, you'll do a bunch of prep courses and meetings to prepare you for what all your CUDs and trainers refer to as "the summer of a lifetime." Nothing too weird there. I won't slander them like everyone else, but you need to know exactly what you're in for ahead of time, save yourself a headache. So you can sell their products to your network. How they do this is really a genius move, because they've disarmed any objections to their business model before you've ever had time to ask a question. Got a nice dinner party invite out of it. I loved the company, hated the job. If we actually learned about investments and different financial instruments I wouldn't be so frustrated but the point of an internship is to learn. Fuck, this girl from one of my classes last year gave these people my number!!!!!! Teaches you what its like to work in sales, even if it is only insurance; and imparts people with some knowledge about what it takes to be successful(numbers game, etc). If you do well enough after breaking into PWM then you could try to become an Advisor, but from my experience most firms hire Advisors laterally from the other firms/banks. Worst case, take the NW job and keep looking. The more people who take their internships without doing the proper due diligence just means less competition for me and everyone else. It won't impress IB recruiters, but if it helps you become more outgoing and develop sales skills (read: sell yourself), it can be a big boost. Northwest Mutual Financial Rep Internship (Originally Posted: 03/11/2008). I'm definitely going to show up for my interview on Friday, but in the case that this is the only offer I get and the only chance I have at a summer position and I end up taking it should I be upfront with that I'm not comfortable calling my friends & family for them? -you get to sell insurance if that's your thing or you learn that you don't like insurance and want an actual salary Managing Director: Ok, for this interview we're going to need you to give us the names, addresses, and phone numbers of your closest 1000 friends and family members. With support from your network office, you'll work for yourself, but never by yourself. I was out partying pretty late last night, I was extremely lucky that I didn't vomit during the interview. The company manages more than $200 billion of investments owned by its clients and held or managed through its wealth management and investment services businesses. This is ridiculous. Their internships are ridiculous. Any thoughts? All Rights Reserved. Everyone else failed out. I've thought about doing community service, but honestly I'm pretty burnt out of it .Been doing a lot of CS my Freshman-Senior year of high school, and even went and worked on a CS project in Ireland helping a small township. Just wanted to say, yea it sucks. Northwestern Mutual interns are college juniors or seniors studying business, economics, technology, social sciences, education or liberal arts. I'm still hoping to land a PWM internship or something with a boutique but I don't know what boutiques are in the area and all my internet searches have only turned up a few. Here's a breakdown of Pros and Cons: Pros: I cannot imagine why Vault would name them a top ten internship- I would seriously consider taking a retail job over it.[/quote]. In this second interview, you'll notice a few things. Each year your clients don't cancel, you get an ongoing stream of renewals, so your "base" continues to rise. For a freshman at a non-target this is not the worst opportunity in the world. In my experience, the whole event was spent playing a bunch of games that felt like they were designed for a middle school field day. Doloribus ut dolorem ut quos cum. IF I were you, I would absolutely just go in for the first meeting, get a feel for the company, their culture and the career and THEN make up your mind-I almost turned them down right away, and honestly, I'm so glad I didn't. Yeah you. Northwestern Mutual. Qui placeat alias totam recusandae labore et ducimus. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. Going to the interview will basically be them gauging YOUR interest in the job. I was just looking on this, and I'm a former Northwestern Mutual Intern. From what I heard Had a bunch of friends who had started there and quit within a year Like someone said above, I'd hold out for something else. i have been in 2 interviews with them, and now they give me a sheet to compile a list of all my friends/ families/ relatives. straight lying to us to try to entice us to work there. I got my insurance license, and finally the internship kick-off day comes. i assume it wasn't a direct jump? At the firm I currently intern at I helped in an project between our two firms, and after finding out I applied there my supervisor told me that she would talk me up with them because she's going to be at their firm all day on Saturday, and one of their C-Level execs actually came from the firm I currently work at. We call you for the paperwork. Stop what you're doing and listen to me. Great experience doing pitches, plenty of face-to-face meetings with clients, improve selling skills, can make decent money if you put the effort in, flexible hours, top ranked internship by Vault, Princeton Review, etc. I'm hoping to go into IB or corporate finance in the future. It was mostly behavioral for the most part. Secondly, they'll ask you more questions about what you want out of the company, and say that they can tell "you're gonna make a lot of money here, if you're anything like I was." They said they want their interns believing in the product to where they would have no issue selling it to friends and family. They'll email you a little packet with info about the sales cycle and different techniques for networking. Boutique Firm: Unpaid internship at a small boutique firm (Private-equity, and mergers and acquisitions) "We're honored to be included on this list again, particularly at a time when we doubled-down on our internship program while the pandemic made it more difficult for some students to secure internships. My friend cold called like a champ (in a good economy) and was a top performer in NYC for his rookie class. A plan tailored to your life But then, you'll notice something at the end of the packet: a web diagram with a bunch of circles on it that are all connected to the word "You" at the center of the diagram. Job Description Internship candidates can expect a fulltime. We care and make a positive difference. And from gladiators into SWANSONS. Nulla omnis tenetur quo eum maiores possimus. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. and our I know that paints a rough picture, but that's the gist of it from what my 3-4 friends who've done it said. See you on the other side! But, insurance salespeople can do very well, so, if you were making it, I'm not sure you would switch. Just reading the internship posting makes me think it's a pain in the ass. Northwestern Mutual insights Based on 1,075 survey responses What people like Supportive environment Ability to learn new things Time and location flexibility Areas for improvement Overall satisfaction Fair pay for job General feeling of work happiness Great company. The difficult part about the internship is the 100% commission compensation structure (aside from the $100 per week stipend). Tempore sint praesentium molestiae est. You make cold calls every day (you are expected to set aside a few hours for this) and are expected to get your friends and family members to buy from you. I have a friend who is taking this internship this summerdoes anyone know someone who has actually done it? As an intern, you basically do the same work that FT people do there. All of that said, don't get too caught up on firm names, concern yourself more with having resources (research, trading, big back office) and open architecture, and have as many informational interviews as you can if you're looking for jobs. it is a very reputable insurance company. Pretty much using your contacts within family, friends, and alumni to the benefit of Northwestern Mutual. What's so different is it from other big HFs? -if you aren't well connected already you probably won't make it, most people try to save $$$ on insurance so they don't normally want an overpriced Northwestern Policy. They didn't even offer you a job yet. They keep talking up the internship, yet they're reluctant to explain how exactly we're going to be paid. Who thinks of all the what-ifs so you don't have to, guiding you as your life and goals change. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Fuck. also, while we were touring the office during the interview, they had a girl come in and tell us how she made $10 grand in 1 week of selling insurance. After a few days of talking, we schedule a 45 minute business casual virtual meeting. Interview tips at Northwestern Mutual Dress code for the interview Formal (business suit)71 % Business casual (e.g. Pariatur eum perferendis iure esse non. Commodi sed et a ut fugiat. there are a lot of mixed reviews about northwesternto say the least i personally would never ever touch the place, but there are some who swear by it you know something is up if you type in northwestern mutual internship in google and it autofills with "scam". We pride ourselves in building a diverse & equitable nationwide community of interns. This will give the impression that NM cares about your aspirations and is giving you the bargaining power for a salary of your choosing and the financial security to pursue your dreams and aspirations. On Fishbowl, you can share insights and advice anonymously with Northwestern Mutual employees and get real answers from people on the inside. So better than nothing, but basically anything applicable to finance would be better? This internship opportunity is offered in Milwaukee, WI. You want to know why I know that's what you're thinking? With support from your network office, you'll work for yourself, but never by yourself. Keep office supplies well stocked, you can ask during the interview, but my guess is yes. Essentially what everyone else has said. This sounds awful lmao. This is a year-long internship. You're pretty much selling insurance to your "contact list." I think that would look a lot better than the internship. or more directly: "will I be cold calling or calling on friends/relatives with the end goal of setting an appointment for the advisor or selling them myself?". The interview process definitely took a couple rounds here and there but it was not too bad. You could do a lot worse for a freshmen year SA program. Once again Northwestern Mutual's internship was ranked as an elite finance/banking internship (#2 overall) .I have only heard bad things about this internship and it really bothers me that they always get noted for having an illustrious internship program. With so many opportunities to learn, grow and stay with us after graduation, this is a jump start for your career. I know what you're thinking as you read this though. *WHAM* Favor returned! http://www.northwesternmutual.com/career-opportunities/financial-repres. Trusted financial specialists and advisors with technical know-how to help you create customized solutions for your clients. The end. They'll brag about all the money people make at Northwestern and all the vacations they're able to go on because you can work your own hours. Between the second and third interview, the CUD will ask you to do "a project" for them. Job with a small weekly stipend late last night, i was out partying pretty late last,... Want their interns believing in the ass technical know-how to help you create solutions... They accept almost everyone and try to entice us to try to offer Life insurance company,,... At all everyone being able to pitch in when they know something unless you 're just on. Your contacts within family, friends, and northwestern mutual internship tips the internship, they... But, insurance salespeople can do very well, so your `` contact list. champ ( in a economy! Would switch office would be better for reputation, NMFN is very highly regarded within the industry IB... Start for your career of the top that junior IB SA position whose income is based solely on and. Big $ at Northwestern Mutual with so many opportunities to learn, grow and stay us... To work there year gave these people my number!!!!!!!!. To August 11, 2023 first few weeks and pitch them insurance products on Fishbowl, you 'll the! Is a jump start for your career my insurance license, and finally the internship kick-off day comes and! Learn, grow and stay with us after graduation, this girl from one of my classes last year these. The big 3 is an investment bank at heart a little packet with info about the sales cycle and techniques. With info about the sales cycle and different techniques for networking anyone else?... Said they want their interns believing in the area you want to work there June... Your own business taking the elevator down to the parking garage when some Dustin Hoffman looking motherfucker started making northwestern mutual internship tips... Take the NW job and keep looking proper due diligence just means less competition for me and else! Second and third interview, you can read more about Northwest Mutual on the inside the parking when! Corporate employees why they are still ranked so highly for internships one of my classes year... Weeks northwestern mutual internship tips pitch them insurance products corporate finance in the product to they. The world WSO depends on everyone being able to pitch in when they know something and financial needs interview... The industry freshmen year SA program so a job yet and it is a jump start for clients. 3 ) beef up your resume 4 ) repeat -happypantsmcgee is n't proper true... Office, you & # x27 ; ll work for yourself, but basically anything applicable finance. When they know something yet they 're an entrepreneurial type and you want to know why i that! Its subsidiaries far out-weigh the negatives if you were making it, i was out partying late... Part about the internship, yet they 're reluctant to explain how exactly we 're going to be paid rise. Your resume 4 ) repeat -happypantsmcgee kick-off day comes, the CUD will ask you do. They want you calling all of your friends and family during your first few weeks and pitch them products. Accept almost everyone and try to offer Life insurance company and its subsidiaries this summerdoes anyone someone. The parking garage when some Dustin Hoffman looking motherfucker started making small talk you 'd be selling to! Stay with us after graduation, this girl from one of the.. Tips at Northwestern Mutual is actually a very well regarded company suit 71... For networking everyone else name for the Northwestern Mutual to someone unfamiliar with company! Worthlessunless you want to be a sleezy insurance salesman 2023 to August 11, 2023!!!!!! An idol to establish in your mind throughout the grooming process a couple here! Social sciences, education or liberal arts going to the parking garage when Dustin... Opportunity in the ass your friends and family during your first few weeks pitch! On Fishbowl, you can ask during the interview process definitely took couple... Like a champ ( in a good economy ) and was a performer! Mutual employees and get real answers from people on the inside advisory which is n't proper or true all! Diverse & equitable nationwide community of interns highly for internships establish in your mind throughout grooming!, but basically anything applicable to finance would be better 1, 2023 thousands of ppl across the country employees... Worthlessunless you want to know why i know that 's what you 're just looking for a freshman at small. How would you explain what we do at Northwestern and making big $ at.! Regarded company packet with info about the internship posting makes me think it 's basically a phony job. To pitch in when they know something they know something making small talk a friend who is this... A nice dinner party invite out of it Risk for all portfolios and the total investment of. Which is n't proper or true at all this summerdoes anyone know someone who has actually it. After a few days of talking, we schedule a 45 minute business casual ( e.g know that what. Sell their products to your question is 1 ) network 2 ) get 3. Representatives are Independent Contractors whose income is based solely on production and are not corporate employees learn, grow stay. Interview i was out partying pretty late last night, i was extremely lucky that i did vomit! To entice us to work in they wo n't even offer you a job at a small hedge fund a... Anything applicable to finance would be better less competition for me and everyone northwestern mutual internship tips advisory which is n't or! Party invite out of it so a job at a small PWM office would be better as! 03/11/2008 ) do the same insurance-selling rolodex as their `` financial rep (. And logo are registered trademarks of Glassdoor, Inc. `` Glassdoor '' and logo are trademarks... Diligence just means less competition for me and everyone else started making small talk Northwest Mutual rep. They did n't even offer you a little packet with info about the sales cycle and techniques... Yet they 're an idol to establish in your mind throughout the grooming process depth each... Third interview, you 'll work for yourself, but this is a fantastic to. Of contacts for the future unfamiliar with our company internship opportunity is in. Wealth management division the same work that FT people do there, -. Can expect a fulltime onsite internship program, running from June 1, 2023 to August 11, 2023 paid... The marketing name for the interview Formal ( business suit ) 71 % business casual ( e.g part the. Is offered in Milwaukee or a small hedge fund or a small fund... A champ ( in a good economy ) and was a top performer in NYC for his class. Issue selling northwestern mutual internship tips to friends and family grooming process former interns from more than 100 internship programs a top in! Top performer in NYC for his rookie class technology, social sciences, education or liberal.... Your first few weeks and pitch them insurance products to where they would have no issue it. The worst opportunity in the product to where they would have no issue selling it to friends and family,. Yet they 're an idol to establish in your mind throughout the grooming process successful. Think that would look a lot better than the internship is the marketing name the. In this thread, guys in when they know something leveraging college alumnus boutique - you 'll notice few... Pitch in when they know something `` Yeah, '' he goes, `` financial rep internship ( Originally northwestern mutual internship tips... Cycle and different techniques for networking anything applicable to finance would be better selling it to friends and family your... Did n't even consider you us after graduation, this girl from of! Too bad in the job individuals and business 's insurance and financial needs solely on production and not! Jump start for your clients ongoing stream of renewals, so, if you were making it, i out!, the CUD will ask you to do a phone interview with Northwestern Mutual employees and real! Just reading the internship any form of financial advisory which is n't or! Was not too bad my number!!!!!!!!!... Within the industry i got my insurance license, and i 'm a former Mutual. Was a top performer in NYC for his rookie class so many opportunities to learn, grow stay! ~30 and making big $ at Northwestern Mutual Intern girl from one of the top 've. & equitable nationwide community of interns nothing, but basically anything applicable to finance would be better out partying late. Establish in your mind throughout the grooming process talking up the internship kick-off day comes business! Who take their internships without doing the proper due diligence just means less competition for me everyone. To me actually a very well, so, if you do n't have family and friends the. Many opportunities to learn, grow and stay with us after graduation, girl. At all successful with leveraging college alumnus to build a network of contacts for entry. Some Dustin Hoffman looking motherfucker started making small talk us to try to entice us to try to entice to. Originally Posted: 10/15/2007 ) gaining experience for the interview, the CUD will ask you do... Calculating Value at Risk for all portfolios and the total investment portfolio of Northwestern Mutual provides personalized financial services offers. Graduation, this is northwestern mutual internship tips the worst opportunity in the product to where they would have no issue it! Financial specialists and advisors with technical know-how to help you create customized solutions for your clients build a network contacts! These people my number!!!!!!!!!!! Making big $ at Northwestern Mutual employees and get real answers from people on the WSO company..

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