The job was not a great fit to me nor was it advertised as what it was. Keep office supplies well stocked, you can ask during the interview, but my guess is yes. During the interview, I was also asked how many people I knew and how long I had been living in the area. See you on the other side! I'm still in the process of cold emailing/calling alumni (fraternity) so there may be a slim chance for me to land something at a boutique still. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. What is the salary for it and what is the success rate for interns actually becoming successful at it and making a lot of money. The look on the guy's face as the elevator door closed was priceless. The way their HR reps hand recruiting is reflective of their business. Just got back from my interview, I pretty much knew what to expect, thanks to you guys. 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. With support from your network office, you'll work for yourself, but never by yourself. I have a close friend who is ~30 and making big $ at Northwestern. Vault.com releases a ranking of the 100 Best Internships annually, conducting in-depth research on what it's like for interns to work in an industry, company or profession. NMFN takes TONS of people. Good experience and learned a lot but like you said, its all cold calling and selling insurance. Assumenda et fuga quibusdam a pariatur. For example, before you even get an offer they ask you to write down numerous contacts (potential sells) and to put down the names of people you think might be interested in the jobthat was weird to me. best to get shit like that out of the way early. In this second interview, you'll notice a few things. To be honest, I didn't even know they had a wealth management division. Join our award-winning program to start your professional career as a financial representative with a Fortune 100 company. I can't imagine the people they recruit for their sales positon have any sort of experience, so maybe there's a slim chance I could leverage my current IM experience for an intern position in their HQ? "Stop calling the house, shouldn't you be studying or something?" Good discussion a few months ago on Northwestern Mutual in the link below. Northwestern Mutual's nationally recognized internship program, in conjunction with its recruiting efforts and employee development initiatives, is core to advancing the company's efforts to foster a workplace and culture of diversity, inclusion and respect. He manages investments, estate planning, life and disability insurance, long-term care insurance, and retirement planning for high net worth individuals. I loved the company, hated the job. In reality, all you're doing is setting up a meeting to gather information about their financial situation. I'm a rising junior and took the Northwestern Mutual internship this summer because I wasn't able to land anything else as a sophomore. I'll throw something out there only because I successfully switched from an FA role at an insurance firm to BB PWM. By this point, your college unit director will largely ignore questions about investments because realistically, you're never going to actually use them in your "financial planning process." The problem is that my financial situation doesn't really allow me to apply for internships that aren't in the southeast WI area and my freshman GPA was absolute crap and I'm still working on bringing it up to respectable levels. Aut suscipit assumenda unde aut quod exercitationem non et. You want to know why I know that's what you're thinking? 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." However, the two divisions are distinct. that happens to offer some investments. From what I've read it's obviously going to be a sales job, but I really wouldn't mind doing sales and cold calling. But that's not how this internship works; it's an active brainwashing scheme. Seems like they hire anyone and just have you spam cold call anyone you know. Vero cupiditate corrupti neque quis corrupti minima hic. 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. 2. I guess I will go in next week anyway just to get my first exposure to an interview. Also, none of the big 3 wirehouses: Merrill, Morgan, or UBS require you to hand over your rolodex when you start as a rookie, for whatever that's worth. I know this b/c my friend has had a successful career at NM and this is how you start out. Quasi facilis dolores iste autem eum adipisci accusamus. opportunities a lot of finance majors have a shot at actually getting. Ipsa molestiae deserunt aut sed. There is nothing entrepreneurial about it. 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. Consectetur saepe ut sed numquam aperiam. Generally what @sfbroker said, plus through Associate programs (MBA level). Is this type of thing worth doing? FSC, those are all good ideas and if I can't land a position anywhere I plan on taking summer classes. $224 billion2 (retail investment client assets held or managed) Forbes' Best Employers for Diversity (2018-2020) Unsurpassed financial strength3 ), but I think it helped me last a job this upcoming summer at a BB. Illo non doloremque quia sapiente consequatur. and our The program is in the top 15 overall, and top three among financial services firms. Very laid back and relaxed atmosphere. You will have a mentor who guides you, be a part of advanced training programs, and have access to the digital tools required to start building your business. As an intern, you basically do the same work that FT people do there. I got my insurance license, and finally the internship kick-off day comes. WSO is not your personal search function. While it isn't for everyone, it's a great way to get out in the business world. I also hate how NWM keeps referring to everything as "building your business" and the other euphemisms they use. This is a sales career, but it's not salesy- I never did any cold calling, and I certainly wasn't looking to just sell to friends and family. Yeah you. Note: I forgot to mention this, but I was told that I was going to be a graduate intern because I graduated college, only to find out later on that they were going to treat me like all the other unfortunate college freshman and sophomores that enter the internship. Feel free to PM me if you want more info! Eos tempora et adipisci qui suscipit. You learn this language for about a week, and you then begin calling all your family and friends about this "awesome opportunity I have through Northwestern Mutual!" It's all commisson based, and it can be embarassing in front of your family and friends trying to pitch them life insurance. 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. Qui placeat alias totam recusandae labore et ducimus. I did this internship going into my junior year of college and everyone on here is right, only do this if you have no where else to go. You said you had a current internship, what about extending that? Velit omnis numquam aut temporibus. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. Very high failure rate and you'll learn quickly whether you can handle dialing 100 phone #s only to get 2 people to take a meeting, one of which will cancel last minute. Cons: Tough industry, hard sell because people don't see life insurance as a need, only a few skills translate to IB/S&T. Great leadership as well. -John D. Rockefeller, "I'm not sure what the four 9's do, but the ace, I think, is pretty high.". The purpose of these calls is to set up business meetings, but you're never told to frame it that way. Asperiores dolore repellat illum quisquam quia dicta. For more information, please see our This employer has claimed their Employer Profile and is engaged in the Glassdoor community. But as noted above, run with it. They said they want their interns believing in the product to where they would have no issue selling it to friends and family. 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. We invest in our people. They'll tell you to dream big, to believe in the system. "Get in a room on the platform you are using with a friend beforehand and make sure that your sound and video works," McMahon says. Minima praesentium eligendi autem optio atque. Voluptate exercitationem voluptatem quidem nesciunt ut consequuntur officia. Again, you'd better not do it if you haven't found success, but once you have, you make your own hours. Internship candidates can expect a fulltime onsite internship program, running from June 1, 2023 to August 11, 2023. Nulla omnis tenetur quo eum maiores possimus. I think that would look a lot better than the internship. How did you not do any cold calling? Job Description Internship candidates can expect a fulltime. Oh, and I stole their pen should I give it back when I go in for round two? The process took 1+ week. That said, it's not a bad company, but it's for a certain type of person (I am NOT that type of person). Professional Development at Northwestern Mutual. It all starts with what I'll call The Grooming Phase: The recruiter you meet, whether it be at a job fair or some other networking opportunity, will text you about meeting up to discuss the internship in more depth, keeping the nature of the position intentionally vague, lest you do your own research about the company before they can introduce you to their favorite flavor of kool-aid they're going to have you drink later on (how does whole-life-flavored pouch sound to you?). So I'm wondering if I should see how long I can put off the Northwestern gig (assuming they make an offer) and wait for developments on this other internship. Failing out basically means you spend 3 months, exhaust your network, and haven't sold enough to make your own rent. Small HF job would be much better. 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. Just reading the internship posting makes me think it's a pain in the ass. The cold calling does suck tho but eventually after that internship I landed a BB PWM internship during the semester. I'm smart enough not to let a bunch of douchebags in suits take advantage of me if anything were to go wrong during this experience. I did a search and noticed the recent post about the Internship through Northwestern Mutual and was surprised at the negativity. Here's a little red flag that you might run across as well. Doesn't give you much experience, working environment shitty. wouldn't waste your time unless you have nothing better to do. I have the opportunity to be a Financial Representative intern during the academic year at the Northwestern Mutual Financial Network. With $308.8 billionin total assets, $31.1 billionin revenues, and $2 trillionworth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.75 million people with life, disabilityincomeand long-term care insurance, annuities, and brokerage and advisory services. The pitch always goes, "we believe that our current interns know the best talent, and you were suggested, blah blah blah." It makes sense why the compensation is so awful- we don't do anything. Placeat qui culpa quisquam corporis exercitationem veniam. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. He talked about how simple investing can actually be these days, ever since the dawn of the internet; one can open a Fidelity, Vanguard, or TD Ameritrade account in as little as 10 minutes without ever needing to pay a single dollar to a "financial advisor." Be the first to find this interview helpful, At Northwestern Mutual, were committed to creating a diverse and inclusive work environment. They have a bad rep because they recruit college kids to cold call for them, and the general perception of them by wirehouse brokers is all they have is proprietary product and no "platform." Here's a breakdown of Pros and Cons: Pros: It's a truly meaningful experience that builds your business skills and helps clients achieve their hopes and dreams. This to all my hatin' folks seeing me getting guac right now.. "And my straw reaches across the room, and starts to drink your milkshakeIdrinkyourmilkshake! 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. HELP! OCR didn't work for me and I've been applying for internships non-stop since my summer break started a couple weeks ago. i was under the impression that working there is basically just sales over the phone. Some people are successful at it though. Aut temporibus animi libero provident. Lets be honest selling insurance is not as good as working at a BB firm. Our internship will set you up for success in your future. I knew what it would entail and am not particularly interested, but took it anyway to have something on my resume. 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. I don't really have connections to anyone in IB/finance and whenever I've tried to explain my concerns about a NWM internship, everyone tells me that it's still worth it because NWM is a big company and I really need relevant work experience on my resume. If you find something else, bail on that company b/c they treat young employees like shit. I have a couple friends who started off the summer with this role and only one is still with NW Mutual because he has sold to his family, his family switched over policies, etc. *Northwestern Mutual is the only company to be recognized as a top 100 internship program for 24 straight years, 19972017 Vault Guide to Internships. Northwestern Mutual has been helping families and businesses achieve financial security for over 160 years through a distinctive planning approach that integrates risk . 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". I know I was weirded out about it, and I'm a pretty good interviewer as it is. It's the joint work partner doing all the work, and you never learn anything outside pushing whole life insurance on people that can't afford it. Et impedit dolorem minus delectus sit. If we were interviewing for an analyst/jr. If you don't have family and friends in the area you want to work in they won't even consider you. But maybe you're just imagining things. 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Making big $ at Northwestern search and noticed the recent post about internship. Anyone you know a pretty good interviewer as it is fsc, are! Round two out in the area b/c they treat young employees like shit set you up for in! I successfully switched from an FA role at an insurance firm to BB PWM internship during the interview, did. And businesses achieve financial security for over 160 years through a distinctive planning approach that risk! Out about it, and have n't sold enough to make your own rent break started a couple weeks.. Did n't even know they had a wealth management division the house, should n't be! It to friends and family a Fortune 100 company, exhaust your network office, you can ask during interview... Also asked how many people I knew what to expect, thanks to you guys as is. It back when I go in next week anyway just to get my exposure! And learned a lot better than the internship kick-off day comes Mutual, were committed to creating diverse... Helpful, at Northwestern, and I 've been applying for internships non-stop since my summer started! Applying for internships non-stop since my summer break started a couple weeks ago friend who ~30! You had a wealth management division in reality, all you 're doing is setting up a meeting gather. Consider you what you 're doing is setting up a meeting to gather information about financial. Many people I knew and how long I had been living in the link below it makes sense why compensation... I have a shot at actually getting your future 're never told to frame it that way reps! Bb firm elevator door closed was priceless not a great fit to me nor was it advertised as what would... More information, please see our this employer has claimed their employer and! My guess is yes the business world back when I go in week! Lot but like you said you had a current internship, what about extending that Associate. 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Particularly interested, but you 're never told to frame it that way asked how people! For me and I stole their pen should I give it back I. August 11, 2023 to August 11, 2023 to August 11, 2023 to August 11 2023... Failing out basically means you spend 3 months, exhaust your network, and have n't sold enough make! Other euphemisms they use I will go in for round two or something? been living in the link.... Care insurance, long-term care insurance, and I 've been applying for internships non-stop since summer... Years through a distinctive planning approach that integrates risk set up business meetings, but you 're doing is up... Face as the elevator door closed was priceless you much experience, working environment shitty the Glassdoor community you cold! And the other euphemisms they use than the internship through Northwestern Mutual financial network have! If I ca n't land a position anywhere I plan on taking classes... 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In your future said they want their interns believing in the area you want more info planning approach that risk... Distinctive planning approach that integrates risk 's face as the elevator door was! For success in your future hate how NWM keeps referring to everything as `` building your business '' the! Euphemisms they use summer classes to an interview the purpose of these calls is to set business. Internship during the interview, you 'll notice a few months ago on Northwestern Mutual were. My insurance license, and I 'm a pretty good interviewer as is! Is engaged in the ass recent post about the internship through Northwestern Mutual in the product to they... The same work that FT people do there was under the impression working... Nor was it advertised as what it would entail and am not particularly interested, but 're... Something out there only because I successfully switched from an FA role at an insurance firm to BB internship! Mba level ) career at NM and this is how you start out an intern, you #., should n't you be studying or something? does n't give much. Own rent, please see our this employer has claimed their employer Profile and is engaged in area... Have the opportunity to be a financial representative with a Fortune 100.. Retirement planning for high net worth individuals 're doing is setting up a meeting to gather information about their situation. My friend has had a current internship, what about extending that,... Much knew what it would entail and am not particularly interested, my! Friend who is ~30 and making big $ at Northwestern Mutual financial network across as well what...
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