Northwestern Mutual

www.northwesternmutual.com
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Northwestern Mutual Reviews

Updated March 4, 2015
Updated March 4, 2015
94 Reviews
1.0
94 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Northwestern Mutual Chairman and CEO John E. Schlifske
John E. Schlifske
94 Ratings

Review Highlights

Pros
  • Unlimited income potential, office culture, ten week program (test drive the industry) (in 56 reviews)

  • Unlimited earning potential, full autonomy with work (in 39 reviews)


Cons
  • Will have to sell life insurance to friends and family which could be awkward for some (in 119 reviews)

  • There is no base salary so getting started is very difficult (in 46 reviews)

More Highlights

94 Employee Reviews Back to all Reviews

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  1.  

    Northwestern Mutual College Financial Representative Internship

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - College Financial Representative in Columbus, OH
    Former Employee - College Financial Representative in Columbus, OH

    I worked at Northwestern Mutual

    Pros

    You gain great networking experience and learn how to make a sale (if that's your thing). The pay is pretty good assuming you can sign enough clients.

    Cons

    They pretty much force you into the position with little training or assistance getting your first clients, and you essentially just have to call up your friends and family at first and try to sell to them. I felt terrible throughout the summer basically begging people to look into buying insurance just so I wouldn't starve to death. Definitely not a good position for anyone looking for stability or a short term summer cashflow.

    Advice to ManagementAdvice

    Provide more support to your college interns rather than simply using them for their personal contacts. If new recruits are put onto a team and guided through the process more thoroughly, they stand a better chance of making sales and possibly staying on full-time.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2.  

    Very disappointing experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Financial Representative
    Former Intern - Financial Representative

    I worked at Northwestern Mutual as an intern (less than a year)

    Pros

    Get to put the internship on a resume.
    Don't have to work full-time during the Summer.
    Compensation is good if you convince your family and friends to buy whole life insurance.

    Cons

    - The whole company takes advantage of those who are not financially educated and convince them to purchase whole life insurance
    -Whole life insurance itself is a absolutely horrible investment
    -Just want to hire interns to get new leads on their family and friends
    -Felt like the whole thing was a big trick and was amazed how brain washed the employees were to the fact that they were screwing over the people they were "trying to help"

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    College Internship, not what it is toted to be

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - College Financial Representative in Grand Island, NE
    Former Contractor - College Financial Representative in Grand Island, NE

    I worked at Northwestern Mutual as a contractor (more than a year)

    Pros

    If you close cases within a small window of time you can make decent commission. The training gives you an insight into the world of sales.

    Everyone is enthusiastic about the company.

    Cons

    The branch I worked with had horrible communication, were extremely ambiguous in everything they did and the manager would often say something that gave the impression of something entirely different of expectations.

    Honestly, they hire anyone with a pulse. Their sales force was full of people just desperate for jobs.

    You have to have a "vested long term interest" to be able to receive commissions from a policy, so if you don't close a policy in the short time frame you are employed there, you will not get the commission once you are unable to continue the internship because of college constraints.

    You have to live with pushing a product (Whole Life) that benefits you more for the sale than it benefits the person you are selling to. You get good commission off of it but as far as an "Investment Vehicle" goes, this product is extremely poor. The management fees (your commission and the head office's commission) are way too expensive.

    There are better options for clients that are financially astute and they will realize this, but many of them will not. Which is why you can make a lot of money. :)

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
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  5.  

    RUSSO GROUP MID TOWN

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

    I worked at Northwestern Mutual full-time (more than a year)

    Pros

    you are not micromanaged, and can set up your day as you please outside of mandatory meetings. You can essentially be your own boss.

    Cons

    Extremely unprofessional environment and do not follow their own code of ethics. Working for this company boils down to doing a lot of work for little compensation. Staff is extremely underpaid and overworked. While I was going through the interview process I was contacted through text typically late at night which I found extremely unprofessional. The atmosphere is pretty much fend for yourself and very cliquey. Leadership help who they want to help and the rest are left to "figure it out". They encourage you to use your own network and when they have run through that they kick you to the curb literally. I felt very mislead from what I was told while interviewing to what I experienced after I started. A lot of the people in leadership roles have come in from other industries which makes it diverse, but many have failed at their previous positions and that is why they are there. Stay away from this office.

    Advice to ManagementAdvice

    work more one on one with your staff, and be upfront.

    Doesn't Recommend
    Negative Outlook
  6.  

    terrible business model

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Insurance Agent in Crown Point, IN
    Former Employee - Insurance Agent in Crown Point, IN

    I worked at Northwestern Mutual

    Pros

    nice people but they are salesmen after all

    Cons

    you have to warm-call all of your friends into buying northwestern mutual's products.the company estimates that if you call 10 of your friends/leads, 3 friends/leads will call you back, and 1 friend/lead will buy the final product. if only 10% of people are willing to buy your product then it is a terrible product. the model is terrible. it is a direct marketing scheme. did i mention the job is full commission.

    Advice to ManagementAdvice

    let your job candidates know that the second they walk into your office, they have already got the job. you will literally hire anyone since you don't have to pay them unless you make money after exploiting them. also word of advice, you come on wayy too strong. it's like going on a first date and asking them to marry you within the first twenty minutes. let me sleep on it first you slimy salesmen.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Dishonest management gives good company a bad reputation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Representative in Charlotte, NC
    Former Employee - Financial Representative in Charlotte, NC

    I worked at Northwestern Mutual full-time

    Pros

    You get to wear a suit every day

    Cons

    smoke and mirror compensation, and if not interested in management, then you get no support

    Advice to ManagementAdvice

    be more professional, stop lying to your customers and clients.

    Doesn't Recommend
    Negative Outlook
  8.  

    Don't Let Them Sell You on "The Life You Imagined"

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Representative in Troy, MI
    Current Employee - Financial Representative in Troy, MI

    I have been working at Northwestern Mutual full-time (more than a year)

    Pros

    This company has a lot that is going for it, however if you work for the wrong managing partner your life can be a living nightmare.

    Cons

    While there are a lot of things that make sense, the basic idea is that Life Insurance is the primary basis of a financial plan.....not many people in management really know what they are doing besides showing you how to emotionally sell life insurance. It's a step up from selling Aflac.

    Advice to ManagementAdvice

    Recruit people that actually have some sort of knowledge in the finance and economics world. Personal trainers, people without college degrees, etc. are not people I would want managing my life's assets....

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  9. 1 person found this helpful  

    Run for your life

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

    I have been working at Northwestern Mutual full-time (more than a year)

    Pros

    Own your own business. Income potential is literally unlimited if you can find the leads and close the sales yourself. That's about it.

    Cons

    Here we go. I work in the NYC Midtown office. I want to try to keep this as concise as possible. The work is great. I love insurance, investments, and owning my business. That being said, the workplace environment is toxic and downright despicable. Well what does it matter if you work for yourself you say? Ha. You are LITERALLY treated like a child with no respect from upper management. You are required to attend ridiculous meetings where everything you say is recorded and written in an email to the partner and other coaches. So watch what you say. The only way they can keep track of their reps is if they funnel these immature messages to each other to keep track of you. Their "trainers" write you little emails and CC the partner if you are late to the office. It's really childish. I own my own business and make a lot of sales, such things do not irk me because I'm not salaried. But it will continue to go on until the end of my career.

    And here comes more. Joint work is a joke. There are very few individuals in this office who are actually intelligent when it comes to things that are a little more complicated than just insurance. Say group policies or working with businesses and investments. Most of the work requires a third party and you are the middle man. You are just a salesman seeking the aid of other salesmen. The problem is I came from a finance background so literally I had to teach myself everything here because no one else was the slightest bit knowledgable. Here comes the worst part, should you even ask another coworker for help to print out some forms, they will demand half of your business. So you learn your lesson in even bothering to ask anyone for help. Most of the reps in the office are aggressive, slimey salesmen. Good luck having them with peers.

    Last bit of info. Should you ask the company, as in anyone internal on a management level for info. regarding your escrow funds, you will be ignored. You should just take a hike. You will never see that money again despite them telling you repeatedly that it's YOUR money. They will dodge your calls, emails, everything. In fact, I once had a coworker stand in front of the individual's desk while I was calling them and my coworker told me they just ignored it on purpose. So, sayonara, Northwestern! I hope your business model changes because you will never retain employees this way.

    Advice to ManagementAdvice

    RESPECT YOUR EMPLOYEES. Fire your internal management workers who are as old as a dinosaur and running things like it's 1975. People demand to be treated like equals, not children. Oh and STOP TAKING OUR MONEY AND DENYING US ACCESS TO IT WHEN WE ASK FOR IT. Or at least ANSWER questions about where our money is.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10.  

    Life insurance sales

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

    I worked at Northwestern Mutual

    Pros

    Can build your own schedule

    Cons

    Mentors harass friends and family

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  11.  

    Financial Representative

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

    I worked at Northwestern Mutual full-time (more than a year)

    Pros

    You can make good money, but not anywhere near the amount you'd make at a competitive commission rate

    Cons

    pyramid.....rep sells, managing director gets %, managing partner gets %, mother mutual gets %, and leaves you with uncompetitive 50% commission rate. No leads, expensive uncompetitive term rates, pushing whole life on everyone..(95% of people should by term). Lots of drinking the blue Kool-aide etc...
    Others will say its just the review of a disgruntled person who failed as a rep. The fact is I made a ton of money when I started and was the most successful rep in the office. The point is if you want to get the insurance business...Go Independent!!

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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