I interviewed at Northwestern Mutual. BUT if your a freshman/sophomore with no other experience, why not, (but unpaid intern at boutique/anywhere else is better). Doing this internship this summer as a last resort after my other internship working in wealth management fell through at the last minute. Accept the offer and feel free to renege. Work with Name, a Wealth Management Advisor at Northwestern Mutual with over 26 years of experience as a full service financial planner. Go with the unpaid boutique - you'll get the best experience and will best help you land that junior IB SA position. Granted the other interns were from Brandeis and NYU. It just didn't smell right. But, insurance salespeople can do very well, so, if you were making it, I'm not sure you would switch. 100% commission based and not worth it if you have other options. Recusandae possimus nihil voluptas numquam voluptas. If you have nothing else lined up, sure take it, but after having a first round interview there a few years back, I would never interview there again. Northwest Mutual Financial Rep Internship (Originally Posted: 03/11/2008). It was mostly behavioral for the most part. Even if it's unpaid, or the job sucks." Any details would be great, thanks everybody. They say this is a life-changing program. Does anyone know any details about them? Northwestern mutual basically only pays the interns based on commissions. What are your extracurricular activities? Overall, employees at Northwestern Mutual rate their professional development an A+, ranking them in the Top 5% of similar sized companies on Comparably. Cons: Tough industry, hard sell because people don't see life insurance as a need, only a few skills translate to IB/S&T. No matter where your career is headed, this internship will give you the foundational knowledge to succeed. Took about 30 minutes and they were mostly pitching to me. 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. As an intern, you basically do the same work that FT people do there. They didn't even offer you a job yet. Don't have any meetings today? I would do some volunteer work, but I've already got 200 hours of volunteer CS on my resume. World-class Northwestern Mutual products and services including life insurance, disability income insurance and education funding options, as well as retirement planning, estate planning and investment options. your superiority complex sickens me. We care and make a positive difference. See you on the other side! Should I tell the girl interviewing me that I would prefer to work at a real firm, but if I can't land an IB internship I would be prepared to jam bullshit life insurance packages down the throats of my friends and family for a summer while contemplating suicide and crying myself to sleep every night. If you do get FT, lots of their analysts go on to HPY bschool or Blackstone, Apollo, Carlyle, and Bain. 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. Thankfully I still have next summer and will get a better head start on recruiting. Stay home, take a long weekend, whatever. Eventually, once you've already said yes to the internship with about as much knowledge as you had before your first interview, they spill the beans -- you need to get your insurance license. They'll tell you to dream big, to believe in the system. West Coast Rainmaker - Equity Researh Associate: One of my friends interviewed for it. I'd try and find something else. 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. I remember interviewing at Northwestern while I was a sophomore. 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. I didn't go back and ended up with a much better and much more relevant internship. In the end, it depends on the office, I can't say where I work but it's one of the more respectable offices with a lot of successful people and a managing partner who's easy to get along with. Sunt autem doloribus est itaque et rerum fuga. Yeah basically your a phone salesmanyou ever seen the show the officeimagine your life like that lol..I definitely would do it unless its my only option. For someone who is looking to get into a different area of finance, this may or may not be a good internship. Its not all about pay at this point. You sell life, disability, retirement planning, investment advice. selling insurance, doing pitches, etc. If you're me, you may even be told that you're such a special applicant they're going to give you a private 2nd interview, rather than the group interviews they usually perform at this point in the process (to this day, I'm aware of no other interns in my class who had to go through a group interview, so it's very possible the recruiter just flat out lied -- a concept you'll get used to as the internship progresses). Selling life insurance to my family, and friends (who are 18-20)?!?! NM charges 5-10x the rate for that of a discount broker like Charles Schwab, Fidelity, Vanguard, T. Rowe Price, TD Ameritrade, etc. I know I was weirded out about it, and I'm a pretty good interviewer as it is. While she did not say this, she hinted that Northwester Mutual only considers people who have a network. The scheme involves employees signing up for online courses that they believe will help them gain experience and skills necessary to become managers. Firstly, the people you're meeting with are usually pretty young, maybe at most middle-aged but more often than not this second interviewer will be a young and successful member of the Northwestern Mutual team called a College Unit Director (CUD). Fortunately turned it down believing I would land something better (which came to fruition). 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. It's not an easy field to work in, but you walk away with some amazing sales and account management experience from the first day on the job. WorthlessUnless you want to be a sleezy insurance salesman. I worked with some great people and it is a fantastic way to build a network of contacts for the future. I interviewed with them as a freshman. She wants to learn more about me and share opportunities with me. Anonymous Interview Candidate in Spokane, WA, I applied online. Voluptatem autem magnam sunt porro quo odit magni. so is it the market that im gonna work with??!! Learn more: hrc.org/cei, Were proud to once again be named one of the World's Most Admired Companies in our industry by Fortune ranking #1 for financial soundness, long-term investment value, people management and use of corporate assets. Northwestern Mutual provides personalized financial services and offers inventive solutions for individuals and business's insurance and financial needs. Northwestern Mutual internship before junior year? Nulla omnis tenetur quo eum maiores possimus. Create referral lists through LinkedIn to obtain new business They said they want their interns believing in the product to where they would have no issue selling it to friends and family. Most Northwestern Mutual interns are juniors or seniors studying, business, economics, technology, social sciences, education or liberal arts. You think to yourself, "okay a little weird, but I understand where they're coming from, and I can always just refuse to sell to my family if I'm uncomfortable with it.". Thank you Stifel Piper. Trusted financial specialists and advisors with technical know-how to help you create customized solutions for your clients. doesn't seem to be much overlap between that skill set and the one required for banking. Opens the Fishbowl by Glassdoor site in a new window. Sorry this was so long, but please stop giving Northwestern Mutual the power of your time, energy, and resources. Here's a little red flag that you might run across as well. An internship at Northwestern Mutual is so much more than a line on your resume. WSO depends on everyone being able to pitch in when they know something. I am currently a sophomore at a state school. Past interns say they got "real-life financial planning experience" with an "opportunity for personal and professional . I was moments away from accepting an offer the summer going into my junior year, but the entire process didn't feel right. Or just keep looking in general b/c any other job would be superior. If I don't like it, I'll just quit. This is ridiculous. protective gear)0 % What advice do candidates give for interviewing at Northwestern Mutual Asperiores dolore repellat illum quisquam quia dicta. I am assuming that you are asking if it is possible to start out at NWM, gain some experience and then transition into PWM at a major firm. Cons I interviewed with them and walked out of interview because I am not willing to pitch insurance to my friends and family. I cannot imagine why Vault would name them a top ten internship- I would seriously consider taking a retail job over it. As bro said, this is not PWM. On Fishbowl, you can share insights and advice anonymously with Northwestern Mutual employees and get real answers from people on the inside. From what I've heard, it's basically a phony sales job with a small weekly stipend. Dont expect too much in money but expect a lot of phone calls. I mean they're wearing an NM pullover over a dress shirt and tie for goodness sake! Look, it's not GS or SAC, but any selling experience is helpful and they have a good training program. Internship candidates can expect a full-time onsite internship program, running from June 1, 2023 to August 11, 2023. Just got back from my interview, I pretty much knew what to expect, thanks to you guys. Junior Level. At Northwestern Mutual, we are strong, innovative and growing. Northwestern Mutual is your creative team remote or hybrid? This employer has claimed their Employer Profile and is engaged in the Glassdoor community. Thanks! We invest in our people. Internship. 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. Privacy Policy. Hate on Northwestern Mutual all you want, but there's a reason why GS's/MS's top priority in expansion is Asset Management. S&P Ratings Services (McGraw Hill Financial): Analytics/Research Intern I interviewed at Northwestern Mutual (Columbia, MD) in Oct 2022. Contact Customer Service at customerservice@vault.com, In-depth industry and profession profiles. There are much better things to be doing your freshman summer. The program is in the top five among financial services firms and is a top five internship for strategy and business development. The hands-on intern experience includes partnering with financial representatives who show you how it's done through mentoring and joint-work programs. Are you gonna have the balls to open the phone book and start calling every doctor/lawyer in there? If you have the contacts and don't mind selling to your loved ones by all means do it, but only if you absolutely want to transition into PWM maybe 5-10 years down the line. 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. Northwestern Mutual Financial Rep Internship (Originally Posted: 05/08/2013), Is this internship any good? Firstly, the people you're meeting with are usually pretty young, maybe at most middle-aged but more often than not this second interviewer will be a young and successful member of the Northwestern Mutual team called a College Unit Director (CUD). The job was not a great fit to me nor was it advertised as what it was. During the interview, I was also asked how many people I knew and how long I had been living in the area. Not sure where that number is from, lol. I thought when I turned down the opportunity that I must be missing something, but it definitely just a swap of insurance sales for a resume line. Same thing happened to me. 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. 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?). If you don't have family and friends in the area you want to work in they won't even consider you. Let me explain something to you about this internship. Vero dolor qui ipsum. However, the two divisions are distinct. 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. Ut ea maxime odio itaque minima nihil itaque consequuntur. We offer an award-winning training program, mentorship, and Commodi sed et a ut fugiat. Eius ex similique temporibus magnam eum. But their reputation is not good, for a couple of reasons: recruitment practices as mentioned in this thread, and their platform. Participate in calculating Value at Risk for all portfolios and the total investment portfolio of Northwestern Mutual. In this phase, you'll hear from all kinds of successful advisors about their stories and reasons for becoming an advisor through NM. I'm studying finance at a well respected undergraduate business program, so hopefully my academics can help strengthen my case as well. I will probably go to the interview just to see if I can do that, but otherwise I don't plan on taking it. Illum recusandae tempora facere impedit velit. Can really feel the positive culture. A good fit here would be someone who is looking to create and grow their own business. How do you continually strengthen relationships with your exciting client base? Small steps, maybe do this internship for the summer then try to get a PWM internship or off-cycle internship during the semester. 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." Nemo minus ratione illo. 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. Does anyone know about NM PWM? The process wasnt bad it just wasnt a good fit, I applied through college or university. Even corporate finance at a taco stand would give you more experience than NMFN. Your job at NM will be to hit the phones and set appointments for a financial advisor. There is a big difference between the quality of the company and the quality of the internship. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. Does anybody know anything about their internship program? 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?" Some people are successful at it though. It's not fun though, and your friends will begin to hate you as you incessantly ask them to buy insurance and for references. 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. Nothing against HLHZ, but I def. 2. They wanted me to basically give them my Rolodex before they even officially hired me. Pretty much a sales job where they want college kids to leverage their family/friend networks in order to sell life insurance. Additionally, wirehouses have what is called "open architecture," which means we are not beholden to sell our own firm's product, they can create their own models, use 3rd party managers, their own firm's managers, it doesn't matter and all options are available to them. Same fucking girl called me at least 10 times asking me to be a sales associate for them. 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. And those joint work partners? Northwestern Mutual Internships are a great way to learn about the financial services industry and get hands-on experience in the field. Northwestern Mutual is client-centric. Facilis qui non consequatur ut maiores et. 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. -you will have weekly sales meetings where the coach puts interns on blast for not making enough dials (you should have AT LEAST 25 PER DAY and 40 IS IDEAL) Northwestern Mutual is a Fortune 500 financial services company based in Milwaukee, WI. Qui nihil nam velit fuga autem exercitationem. I would not recommend working here. Full-Time. 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