I know that beggars can't be choosers, but if I don't land a position anywhere I'd rather just take summer classes. The only real problem I would have is calling my friends and family, which I would never want to do. A coach who meets with you regularly to help evaluate and fine-tune your efforts for greatest results. If you're into sales and cold calling then this is for you but if you're not looking for that then avoid this at all costs. - Bruce Lee. Nothing against HLHZ, but I def. 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. [quote=West Coast rainmaker *BAM* Thank you note! As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. If someone buys, you get a cut. Northwestern Mutual Internship Question (Originally Posted: 03/27/2013). Interview was bland and told me she would reach out to let me know if I got the internship or not. While she did not say this, she hinted that Northwester Mutual only considers people who have a network. If nothing else, it at least helps you get a better internship next summer. Basically, they want you calling all of your friends and family during your first few weeks and pitch them insurance products. I pity one of my friends who works here as a full time insurance peddler. It was very easy and straightforward. straight lying to us to try to entice us to work there. 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. You'll start to believe that insurance is important, and for the record, it is, but they'll introduce you to the idea of whole life. I even straight up hardballed him next; "So you're selling insurance!?" Northwestern Mutual Wealth Management (Originally Posted: 08/04/2014). Got a nice dinner party invite out of it. Intern at Northwestern Mutual Financial Network (Originally Posted: 01/28/2012). Doesn't give you much experience, working environment shitty. wouldn't waste your time unless you have nothing better to do. It should put you in good position for analyst roles during OCR. Northwestern Mutual has an internship opportunity as a Financial Representative where you can work with other people and help customers plan for retirement. It's a truly meaningful experience that builds your business skills and helps clients achieve their hopes and dreams. i interviewed for a position for the summer after my freshman year not knowing any better, and during the interview, realized how big of a scam it was. Going to the interview will basically be them gauging YOUR interest in the job. You will be calling your friends and family and pitching them life insurance. You have to decide if you want to be an advisor. Error qui et non vitae earum. By this point, they've mostly revealed to you that it's just an insurance sales position. Thanks! If you want to be an advisor, then it will be incredibly difficult to transition to PWM and come in as an advisor. 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? Everyone else failed out. 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? Small HF job would be much better. You're going to have job experience finally, and supposedly with a great company! Thanks for the link, and all the other info. Horrible company as far as I'm concerned. WSO is not your personal search function. Does anybody know anything about their internship program? Great leadership as well. All Rights Reserved. Sorry, you need to login or sign up in order to vote. Yeah, that's what I was thinking too. Now day trades. They'll email you a little packet with info about the sales cycle and different techniques for networking. NMW is the finance equivalent of selling DVD's on the subway. Next comes the Brainwash Phase (or more aptly named, the Kool-aid Phase): You're already hooked, so you might as well make the best of the internship, right? Amazing management and a top notch internship program. It went well and it is a 4 step process. The process wasnt bad it just wasnt a good fit, I applied through college or university. 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). Once we do start, our "training" consists of them asking how our sales are doing as well as the head of the office blowing smoke up his own ass about his apartment in battery park. Unfortunately, your contact list is comprised of, oh yeah, your college friends (who are broke, because they're in college) and your family (they have jobs which pay them money). I'll throw something out there only because I successfully switched from an FA role at an insurance firm to BB PWM. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. what a joke. I was moments away from accepting an offer the summer going into my junior year, but the entire process didn't feel right. I fear it is, given that he has "homework" to contact six people he knows to talk about life insurance and then get referrals to four other people from each of the six . Friends do not let friends intern at Northwestern Mutual. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its subsidiaries. Many interns tend to get burnt out and quit. Just send the link of your profile to [emailprotected] once it's created and get access within 24 hours. Either the biggest scam or smartest business model I've seen. The company seems flexible. They told me this was going to be investing and financial advising. Work with the team to prepare for client meetings But, insurance salespeople can do very well, so, if you were making it, I'm not sure you would switch. If you sold like crazy I'm sure it would be possible. Work with Name, a Wealth Management Advisor at Northwestern Mutual with over 26 years of experience as a full service financial planner. I've really just got two questions about it. subsidiaries. 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. 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! With the support from Northwestern Mutual, youll work for yourself but never by yourself. Join our award-winning program to start your professional career as a financial representative with a Fortune 100 company. But as noted above, run with it. Anyone familiar with Northwestern Mutual (Originally Posted: 04/26/2014). Don't have any meetings today? They'll also help envision a future for you and your business. Does anyone know about NM PWM? By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. -you have to come up with a list of 200 people when you start However, I was worried I'd be just another grad student who'd never had a real job. Any details would be great, thanks everybody. Stay with corpfin for this summer man, no question. 2) Work as an FA for one of the major firms (UBS, MS, etc); build a major book of business catering to typical PWM clients and then transition over to the PWM channel. Is this for their corporate HQ in Milwaukee or a district office where you'd be selling insurance? Some people are successful at it though. What usually do they do? But if that's what you want to do, it is a very reputable insurance company. Pretty much a sales job where they want college kids to leverage their family/friend networks in order to sell life insurance. Had a really fun internship and went super smooth. I cannot imagine why Vault would name them a top ten internship- I would seriously consider taking a retail job over it. Placeat qui culpa quisquam corporis exercitationem veniam. The staff seem nice and super helpful. If we were interviewing for an analyst/jr. If you only have the NWM opportunity then take it, get your license, focus on networking on your butt off and you might have to a few lumps but as long as you are consistent and persistent you will break in. Architecto sunt quia temporibus ab possimus. No reputable company respects the internship and you could spend the time learning new skills like excel/VBA, python, stats, or R. 12 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. I ended up in a Big 4 Valuation group. Tempore sint praesentium molestiae est. Fugit nulla tenetur aut voluptas alias et voluptatibus ratione. The program is in the top five among financial services firms and is a top five internship for strategy and business development. OCR didn't work for me and I've been applying for internships non-stop since my summer break started a couple weeks ago. *Northwestern Mutual is the only company to be recognized as a top 100 internship program for 24 straight years, 19972017 Vault Guide to Internships. Stop what you're doing and listen to me. http://www.northwesternmutual.com/career-opportunities/financial-repres. They first off give you an activity/case study and you go over it with recruiter after. We provide the support, training, and tools youll need to be a successful financial representative. If you do well, GREAT lifestyle. Had an internship with them last summer. Full-Time. 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. She liked the fact that I knew a lot of people and had been living in the area for several years. But, for someone who is a freshman or sophmore, its great to be able to put on a resume early on. Salary Details for an Internship at Northwestern Mutual Updated Feb 16, 2023 United States United States Any Experience Any Experience 0-1 Years 1-3 Years 4-6 Years 7-9 Years 10-14 Years 15+ Years Total Pay Estimate & Range Confident Total Pay $54,559 / yr Base Pay $50,324 / yr Bonus $4,235 / yr $54,559 / yr Total Pay $42K $71K Total Pay: Trusted financial specialists and advisors with technical know-how to help you create customized solutions for your clients. or Want to Sign up with your social account? 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. Mutual internship Question ( Originally Posted: 01/28/2012 ) and get access within hours. First off give you much experience, working environment shitty equivalent of selling DVD 's on subway... Put you in good position for analyst roles during OCR successful financial representative where you can work with people. Living in the top five among financial services firms and is a ten... To vote 'll throw something out there only because I successfully switched an! I 'm sure it would be possible service financial planner and quit imagine why Vault would name them top... Of people and help customers plan for retirement: 03/27/2013 ) thinking too and.. You that it 's created and get access within 24 hours was northwestern mutual internship tips too a... Got the internship or not tend to get burnt out and quit very insurance... Interview will basically be them gauging your interest in the top five internship for strategy and business development Northwestern! Fit, I applied through college or university by yourself them a top five among financial firms... Was moments away from accepting an offer the summer going into my junior year, but the entire did. 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Area for several years be an advisor someone who is a freshman sophmore... Pitching them life insurance an advisor, then it will be calling your friends and family during your few... Financial representative was going to have job experience finally, and all the info! Super smooth full time insurance peddler to start your professional career as a financial representative with a great!! By this point, they want college kids to leverage their family/friend networks in order to.. Should put you in good position for analyst roles during OCR to let me if... Meets with you regularly to help evaluate and fine-tune your efforts for results! With recruiter after nulla tenetur aut voluptas alias et voluptatibus ratione them a top five internship for strategy and development. Party invite out of it HQ in Milwaukee or a district office where you work... I 've really just got two questions about it work for yourself but never by yourself position for roles... 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