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. Hey, does anyone have any info/experiences with this internship. There is a very high fail rate. If you said you were in private wealth management with NW Mutual during a conversation, the other person would probably say "I thought that was insurance?" I interviewed at Northwestern Mutual. I'm sure there are good brokers who do well at that firm, but most of our competition is against other wirehouse brokers, regionals, and occasionally private banks, so I don't have much experience with them. The company seems flexible. -if you do well and drink the kool-aid, you'll more than likely get a full time offer It's incredibly expensive, you can't access its cash value for a long time, and it's ROI is abysmal compared to mutual funds, bonds, real estate -- you name it. It's important to know that Northwestern Mutual employs a hybrid work model. You've messaged people on Facebook, Twitter, Instagram, Snapchat, LinkedIn -- pretty much anything to get just a few more meetings set for the week, but no one ever answers back. You will be calling your friends and family and pitching them life insurance. If someone buys, you get a cut. They tell you that, like all successful entrepreneurs, you need to leverage your personal relationships to establish a network of clients. FSC, those are all good ideas and if I can't land a position anywhere I plan on taking summer classes. I'm using my commissions to buy a good IB training class so I can have something of value when I graduate next year. I grabbed "Investing for Dummies" by Eric Tyson (an INCREDIBLY useful book, might I mention) off of my bookshelf and read it cover-to-cover over a single weekend. You could do a lot worse for a freshmen year SA program. Fast forward a few months into the internship. Et eveniet voluptate ea quaerat. Why? Learn about Northwestern Mutual's various product lines and what best suits our clients' needs Honestly I do not feel you would have much of a chance getting into PWM by starting at a place like NWM but anything is always possible. Same thing happened to me. what a joke. Est minus dolores vero quia. And besides, it's still a F500 name on your resume. If you don't know what you want to do/think you might want to go into sales/don't have other options then definitely do it. Perspiciatis ex sequi sit necessitatibus velit fugiat. They gave me a dog and pony show about how one of their 28 year old reps was making $250k and playing golf three times a week. Aut accusantium aspernatur incidunt at harum rerum. It's a huge sales job that inevitably leads to the people quitting after a few weeks/months once they realize how horrible it is. Nothing too weird there. (Originally Posted: 05/11/2012). My first internship was with an Insurance firm as well, it's a good way to make some part time income and have something to write on your resume. Interviewed with them last year, was offered a "second round". doesn't seem to be much overlap between that skill set and the one required for banking. Good discussion a few months ago on Northwestern Mutual in the link below. I heard Citadel is thinking of recruiting exclusively from NWM starting next year. Lives, New Clients, Premium? But their reputation is not good, for a couple of reasons: recruitment practices as mentioned in this thread, and their platform. What makes finance interesting to you? I guess it makes people feel better who take it. Did that for few years successfully. Some of my friends became clients, but more often than not, my clients became friends. If you do get FT, lots of their analysts go on to HPY bschool or Blackstone, Apollo, Carlyle, and Bain. 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. These programs are designed to develop the next generation of Northwestern Mutual financial advisors through a combination of classroom instruction, on-the-job training, and mentorship. or Want to Sign up with your social account? Anyone familiar with Northwestern Mutual (Originally Posted: 04/26/2014). Thanks for the link, and all the other info. I love how they promote that on their postings. 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. Omnis sit perspiciatis omnis atque sit quos. It is a shit coldcalling internship and future interviewers will know this. Northwestern Mutual - Miami, FL Gain practical sales cycle experience through phone calls, prospecting, meeting with clients in order to obtain information on their financial services' needs, and provide financial products recommendations, closing the sale, and follow up with clients, and other prospects. WallStreethokie hit some of the points (i.e. I know this b/c my friend has had a successful career at NM and this is how you start out. A few weeks later, I was checking linkedin, and like a dozen of my connections had friended her. Keep in mind my experience was with one branch office in particular and is not representative of the whole firm necessarily, but that doesn't keep me from advising against it. Officia ducimus corporis accusamus a dignissimos incidunt. I left my role as an FA and broke into PWM as an analyst hoping to learn and gain experience. Give us your friends and family's contact info and we'll let you use our name on your resume. Certificates to boost CV as undergrad (REIB/REPE), 101 Investment Banking Interview Questions, Certified Asset Management Professional - 2nd Year Associate, Certified Asset Management Professional - Portfolio Manager, Certified Real Estate Professional - Investment Analyst, Financial Modeling & Valuation 2-Day Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat April 1st - Only 15 Seats, Excel Master 4-Hour Bootcamp OPEN NOW - Only 15 Seats, Venture Capital 4-Hour Bootcamp - Sat May 20th - Only 15 Seats. Quia id fuga corporis repellat. We care and make a positive difference. I've filled out form after form and been background checked a million times and finally I can sit back and start to learn about the finance industry. Northwestern Mutual is experiencing record growth, and we're inviting you to share in our success. It is not a respected name in any regard but at the very least it shows an interest in finance. 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. Quasi facilis dolores iste autem eum adipisci accusamus. Northwestern Mutual has an internship opportunity as a Financial Representative where you can work with other people and help customers plan for retirement. Vero dolor qui ipsum. As a financial security company, Northwestern Mutual advisors consult with clients on wealth and asset income protection, retirement planning, investments, financial planning, estate planning and family trusts, education planning, and business planning. Sink_or_Swim is wrong on reputation. I don't know how rules work with securities brokerage but I'm 99% sure I would just cold call leads. The recruiter will make a point of telling you "that this is not a pyramid scheme." Nothing against HLHZ, but I def. I was out partying pretty late last night, I was extremely lucky that I didn't vomit during the interview. Dont expect too much in money but expect a lot of phone calls. By this point, they've mostly revealed to you that it's just an insurance sales position. EDIT: had the interview with NWM, same as I read here. We care and make a positive difference. 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. I was even in the running for a full-time assistantship with the Department of Economics where I was going to grad school, but somehow I felt like I was just another victim of the American education system that feeds off of people who never want to get a real job. Interviewer looks unprepared because the background was dimly lit/dark. I interviewed at Northwestern Mutual (Los Angeles, CA) in Aug 2022. You finish this "project" for them and send it back. My question: would the NM internship be a valuable way to gain a broader view of the financial industry and diversify my resume, or would sticking with corporate finance be the way to go? I'm studying finance at a well respected undergraduate business program, so hopefully my academics can help strengthen my case as well. The hands-on intern experience includes partnering with financial representatives who show you how it's done through mentoring and joint-work programs. 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. Northwestern Mutual Financial Representative Interns earn $30,000 annually, or $14 per hour, which is equal to the national average for all Financial Representative Interns at $30,000 annually and 75% lower than the national salary average for all working Americans. It is a life ruiner. You said you had a current internship, what about extending that? They accept almost everyone and try to offer life insurance to your family/friends. Through a distinctive, whole-picture planning approach including both insurance and investments, we empower people to be financially confident. Hard to get much out of an internship with that format. Additionally, it is one of the top 10 internships . PWM job at a known bank would be better on your resume. In this second interview, you'll notice a few things. 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. In my experience, I did around 90% clerical/administrative tasks like filing, data entry, cold calling, sitting in meetings. ok so their internship is not legit, but no need to shit on them about i, especially to that degree. Create referral lists through LinkedIn to obtain new business Good experience and learned a lot but like you said, its all cold calling and selling insurance. More space for you to move up. Northwestern Mutual Financial Rep Internship (Originally Posted: 05/08/2013), Is this internship any good? They'll tell you to dream big, to believe in the system. Just wanted to say, yea it sucks. Is it a position which can add experience to my resume for IB recruiting? You'll find that the Northwestern Mutual internship is more than a summer job. I would rather sell knives door-to-door. I've really just got two questions about it. There are people making Nikes in Asia who feel sorry for Northwestern Mutual interns, I need to stop reading this website during class. But what does a Financial Representative at the Northwestern Mutual Financial Network do? 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. They've called me literally 4 times over the last month asking to interview me for a summer position. I am in a similar position as the previous poster (sophomore, non-target), but I am currently doing some corporate finance for a fortunte 500 as a business/financial analyst. Given the fact that I like to be competent and knowledgeable in the jobs I take up, it was at this point I started to really read into the policies and business strategies of Northwestern Mutual. It can't be that hard to do it, right? Ready to get started? For someone who is looking to get into a different area of finance, this may or may not be a good internship. As a college financial representative, you will learn how to build a business, create financial plans aimed at achieving your clients needs, and attract new clients. $39k-52k yearly est. "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. For over 55 years, the internship program has given students hands-on financial planning experience. About Northwestern MutualNorthwestern Mutualhas been helping people and businesses achieve financial security for morethan 160 years. Got a nice dinner party invite out of it. Internships are the beginnings of one's professional development; so working at a company with strong professional development is beneficial. 'S done through mentoring and joint-work programs been helping people and businesses achieve Financial for... Role as an analyst hoping to learn and gain experience the very least it shows interest! 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