First Investors Corporation Reviews

Updated April 1, 2015
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2.0
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First Investors Corporation President & CEO Bill Lipkus
Bill Lipkus
3 Ratings

47 Employee Reviews

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  1. intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Intern in Miami, FL
    Former Employee - Intern in Miami, FL

    I worked at First Investors Corporation

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    some of the people are willing to help you and teach you some things

    Cons

    people dont feel motivated working there. they should change the manager

    Advice to Management

    work harder. try to find ways to motivate your employees

  2. 70% clerical, 10% recruiting other interns into a lengthy unpaid program.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Intern in Woodbridge, NJ
    Former Intern - Intern in Woodbridge, NJ

    I worked at First Investors Corporation as an intern (less than a year)

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Eventually an opportunity to earn money, must put in the time and effort and know it will be quite some time before you reap rewards.

    Cons

    Seemed competitive between representatives, internship was highly clerical and recruitment focused with minimal opportunity to learn the ropes of financial advising.

    Advice to Management

    Make the internship paid/more experience based. Interns are there to gain experience in the field that your company operates in.

  3. Waste of time you'll be broke fast

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at First Investors Corporation

    Doesn't Recommend
    Doesn't Recommend

    Pros

    They get you licensed and you will have good sales experience.

    Cons

    Very limited product and you spend too much money

    Advice to Management

    Stop ripping off your people

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  5. Helpful (2)

    A decent place to work until you look at similar firms

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Registered Representative in Richmond, VA
    Former Employee - Registered Representative in Richmond, VA

    I worked at First Investors Corporation full-time (less than a year)

    Negative Outlook
    No opinion of CEO
    Negative Outlook
    No opinion of CEO

    Pros

    Some of the best training in the industry, you start with a base hourly rate, great support from local management. The company is trying SO hard to head in a great direction, but being an older firm a lot of people just aren't on board.

    Cons

    If you're a very independent person who's used to being self employed there's way too much management. I listed the same thing as a PRO above, it's really just whatever you're looking for. The technology you use is incredibly dated, and the upper management try to manage through threats. The product line is not competitively priced (insurance is really pricey, you'll never win a client who's shopping you on price. Funds are on the high side as well.) and not very diverse. There's an overall culture of a lack of trust and and this "everything is an uphill battle" mentality that's hard to shake when you're required to be in the office too much of the week due to unnecessary meetings. The pay is competitive and they talk a big game about how they're the only ones to support their reps like they do. If you shop around though you'll find better offers elsewhere.

    Advice to Management

    Maybe have 2 different new hire tracks. One with straight commission and have the training be optional, another with the hourly base, hand holding,

  6. Helpful (1)

    This place is a sham-Do NOT invest your time or money.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Registered Representative in Fort Worth, TX
    Former Employee - Registered Representative in Fort Worth, TX

    I worked at First Investors Corporation full-time (more than a year)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    You receive great preparation for your licenses. There is flexibility in your schedule since you set your own appointments.

    Cons

    The general feel is for you to convince people to transfer their money to your care at this firm. Once you have the money-forget that client because it's on to the next. Customer service was not a priority. Also, there was no base salary-the only way you earn money is through commissions. Not many real professionals can live this way. Therefore you have many unprofessional people in this company. These young unprofessionals are often promoted to management in this company.

    Advice to Management

    You need better training for your reps and you need to offer a base salary-even if it is only $20k. This will bring much more success to the company. You need to stress that customer service/relations is a priority-especially when you are working with people's hard earned money.

  7. Financial Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at First Investors Corporation

    Recommends
    Neutral Outlook
    Disapproves of CEO
    Recommends
    Neutral Outlook
    Disapproves of CEO

    Pros

    Employees are great to work with, the manager of the Broadway office in NewYork is a down to earth guy.

    Cons

    Dull working environment, plan on working weekends and around a 55 hour+ week

  8. Helpful (2)

    Lofty promises, but you're on your own

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at First Investors Corporation

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Flexible hours to plan your week.
    A lot of training and study material to help prepare and sell investments/insurance

    Cons

    Lack of any sort of upper management or leadership. If you need help, very few are willing to donate their time to help a new person. The company attracts many new talents with promises of high salary but they don't tell you that the people "mentoring" you on all your initial business get a large chunk of your commission. Be prepared to sell to your friends and family first. The employee turnover rate is extremely high.

    Advice to Management

    Instead of having employees who manage many other accounts try to help the new people, having someone in the office who knows the regulations and has sales experience to help new employees.

  9. Ok

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at First Investors Corporation

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Consistent Hours, that's about it

    Cons

    Micromanaging, Overbearing nosy staff members

  10. Helpful (2)

    Start your career here, but know when to move on!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Account Representative in New York, NY
    Former Employee - Account Representative in New York, NY

    I worked at First Investors Corporation full-time (more than a year)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Great study material to get you educated on investments and life insurance vehicles. The licenses you earn here are transferable to other financial service companies.

    Cons

    Management only looks out for themselves. They throw you to the wolves and only go to see the clients YOU bring in to the company if they know they will get a larger commission off of YOUR sale.

    Advice to Management

    Pay attention to the newbies. They are putting money into your pocket for a good chunk of time before they move up the ranks. Don't pick and choose which appointments you go to - know the value in every client and be aware that every appointment is important to a new rep.

  11. Helpful (2)

    It was a good experience getting sales data, and learning to present to clients.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Representative in San Jose, CA
    Former Employee - Financial Services Representative in San Jose, CA

    I worked at First Investors Corporation full-time (more than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Fun outings and lots of team building, full training provided and unlimited potential to make money

    Cons

    long work hours, 60+hours in the beginning, all commission, very difficult to make a good living

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