- Comp & Benefits
- Work/Life Balance
- Senior Management
- Culture & Values
- Career Opportunities
I have been working at Modern Woodmen full-time (less than a year)Pros
My favorite parts of working for Modern Woodmen are:
1. Working with people and helping others
2. Education: Modern Woodmen pays and encourages continuing education and training, monthly, quarterly and annually to enable the sky as the limit as far as your financial education and practices go.
3. Flexibility: I am an entrepreneur and business consultant. I run a start-up, consult other business owners and entrepreneurs and it all rolls into my practice with Modern Woodmen. I am able to run my start-up, help others with their business practices, while at the same time, assisting them as clients with growing, protecting and properly planning their personal, family and business goals.Cons
The only two cons I have seen at Modern Woodmen is:
1. Not having a base salary. There is a $2,000 draw that you are eligible for, where you can receive $500 every Friday to keep you rolling. This is credited to your account and as you close sales, your commissions will repay the draw.
2.BDA (Business Development Allowance): Your first 2 years you are eligible for BDA Bonuses, but they are capped out at $2,000 per month. They are 50% of your commissions, so, for example, if you do $10,000 in sales in one month, you will receive $5,000 in commissions. The BDA will give you 50% of your commissions, in this case $2,500 would be your BDA for that month. Since the BDA caps at $2,000 per month, your $2,500 BDA this month will only pay $2,000, the other $500 will roll over to the following month. The following month, you will receive the $500 BDA. Now, if you continue to hit over the $2,000 BDA every month, then it will keep rolling over. This is a good problem to have, but on the con side, if you make $20,000 in one month, you will not receive all of your bonus credit that month. On the bright side, this can be used sort of as a "Paid vacation" where if you have BDA rolling over every month, you can take a month or two off and still receive your $2,000 BDA that have been rolling over every month.Advice to ManagementAdvice
Set up a draw for new agents early on. Having access to capital will make agents more mobile and more confident. Since it takes a few months to settle into this new, amazing, career - having access to this capital without worry will lower stress and make the transition easy, showing higher results early on. I can not speak for all regions, but our region in Cary, NC has amazing company cultures. The company, as a whole, being Fraternal has amazing benefits and company culture. The Cary, NC, Doug Polk region has amazing management, company culture and open door policies that have allowed me to come in, get out of previous debt from a failed start-up and become the highest selling agent in the region, in just 3 months. In November, 2014, I received an award for the most business done in the nation. In August, 2014, when I entered, I was in debt $10,000 and had a rough start. They listened to me, put faith in me and gave me the resources and confidence I needed to now be the highest selling agent in the nation for the entire company, last month. This month, my numbers are even higher and we still have one week left. I hope to accomplish this award every month, but so far, I know I will have it at least 2 months in a row and that is greatly related to the training and values I have learned from our management team. This is my dream career and I will be doing this for the rest of my life, I know that because I love the job and the people. I know I will be happy here for a very long time and I trust my family and friends to be invested in this company, as well.RecommendsPositive OutlookNo opinion of CEO
Getting an Interview
Getting an Interview
- Application Details
I applied through college or university. The process took 1+ week – interviewed at Modern Woodmen.Interview Details
I was contacted by the company after dropping my resume off at the career fair that Modern Woodmen attended at my university. I was asked to complete a thorough questionnaire to see if my values matched that of Modern Woodmen's. After getting a follow-up call from the company, they scheduled an initial interview the following week.
The first interview essentially explained what Modern Woodmen did and stood for morally as a company. At the end, I was asked if I felt that I would be a good fit for the company, and after saying that I did, I was asked back for a second interview.
The second interview followed much more of a standard interview with questions about my past experiences, career goals, and personality type.Interview Questions
Negotiation DetailsI was told the hourly wage that commission employees at the office had agreed to pay the interns and asked. I was offered either the hourly wage or the opportunity to take the internship for college credit. I chose to take it for the hourly wage.Accepted OfferEasy Interview
- If you were offered a position at another larger company (Goldman Sachs, EY, etc.) while still being a Modern Woodmen employee, what would you do? Answer Question
Let us know if we're missing any workplace or industry recognition –
No need to pitch a tent to have Modern Woodmen in your camp. One of the largest fraternal benefit societies in the US, Modern Woodmen of America provides annuities, life insurance, and other financial savings products to more than 755,000 members through some 1,500 agents. The group, founded in 1883, is organized into "camps" (or chapters) that provide social, recreational, and service -- as well as financial -- benefits to members. Founder Joseph Cullen Root chose the society's name to compare pioneering woodmen clearing forests to men using life insurance to remove the...