There are newer employer reviews for Prudential

1 person found this helpful  

Great Company, Great Benefits

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

I worked at Prudential full-time (more than 3 years)

Pros

access to training, business has capital to invest and great benefits

Cons

Newark ;)
can sometimes get lost in the bureaucracy

Advice to ManagementAdvice

look for hidden talent not just those based on popularity

Recommends
Positive Outlook
Approves of CEO

655 Other Employee Reviews for Prudential (View Most Recent)

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  1.  

    Industry-leading employer of choice

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Director in Portland, ME
    Current Employee - Director in Portland, ME

    I have been working at Prudential full-time (more than 8 years)

    Pros

    Excellent compensation and benefits package, for motivated and driven individuals. Great opportunities for employee growth and development.

    Cons

    Workloads and work/life balance have been challenging, but management is making the necessary changes to reposition the organization for continued growth.

    Advice to ManagementAdvice

    Prudential has been a rock solid company for more than a century. Continue and honor the legacy by treating employees, customers, and shareholders with respect and gratitude.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 12 people found this helpful  

    Don't, don't, DON'T take this job

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

    I have been working at Prudential full-time (more than an year)

    Pros

    Licensing reimbursed
    Flexibility
    Benefits (eventually)
    Not much else

    Cons

    Where to begin... you get hired and start of in the CDP (career development program). You are Givin roughly 5 months to pass all licensing (life/health, series 6, and series 63) which you pay for out of pocket (roughly $1,000). Also a requirement to get out of CDP is to hit a certain level of production ($6,000 GDR/annual premiums AND 5 core products I.e. life policies and annuities). Wrote a huge life insurance case for $8,000 annual premium? Too bad, still need to write 4 more policies in order to get paid for it! Long story short, you'll go through the first 3-5 months without being paid and busting your ass between 40-70 hours per week with absolutely nothing to show for, including any company benefits. What happens if you don't meet the requirements within the given time frame? See you later, and no $$ for you! Also, the veterans in the office will prey on you and try to take you on "joint appointments"with your friends and family to get a portion of your commissions. They aren't stupid, they know that 9/10 newbies will be gone within a year and they want a piece of your pie.

    If/when you do graduate from the CDP program, you finally start getting paid, business cards, and begin to finally feel like a real employee. Keep in mind that you are not a financial advisor, you are a life insurance salesman first and might get lucky and write an annuity or some mutual funds in the process. BUT, anybody who has any money to invest has already done so with an actual advisor from Edward Jones, Merrill Lynch, etc who can actually write the same exact Prudential annuities and mutual funds themselves.

    You will undoubtedly be given huge lists of "orphan"clients (Pru customers whose salesman had left the company so they don't have a servicing rep), which you will call on blindly. You will soon find that about 95% of them either

    -have been contacted within the last year and don't want to talk to anybody from Pru because they've been screwed by somebody in the past.

    -will reluctantly meet with you, which ends up in changing beneficiaries for their $5,000 30 year old policy I.e. No money for you and a lot of wasted gas and 2 hours of your time.

    -want to hear about how you can help them with retirement, only to find out they either have no money or somebody else has done a Pru annuity for them from a different company.

    So, you will probably get face to face with lots of people, and regardless of how great of a salesman you are, people will act interested and ultimately do nothing or go elsewhere for business.

    You will be expected to buy leads, marketing materials, and anything else that will help you to stay from scratch to hopefully survive in this company, and not get reimbursed for any of it. I would say I've spent about half of the money I've earned to just barely stay afloat and keep business coming in. People who need life insurance either can't afford it or are wayyyy too unhealthy to qualify for it. People who can afford it and are healthy enough already have it. People are scared to death of annuities, or they already have one with somebody else. People who are looking to save for retirement or their child's education either will or have already done so elsewhere. People look at Pru as a life insurance company, not a company that will lead them to retirement.

    Before you think to yourself "this guy is bitter/poor salesman/lazy/doesnt produce" let me just say that I've been here 2+years, hit every sales goal and bonus I've been challenged to hit, and networked like crazy working minimum 50 hours/week to barely make $30, 000 a year. Which, like I mentioned, I have spent roughly half of putting money back in to my practice to move forward.

    If you have sales experience, a boatload of patience, a family/friends with tons of money and trust you, and a good amount of money in savings before starting, then MAYBE take this job and pray to whatever god it is you pray to. If you don't have ALL of these things I mentioned, run far far away and don't fall into the traps and lies that management will surely feed you along the interview process. They get paid for hiring people and retaining people who produce at a certain level, so when you sign the contract it's money on their pocket.

    When you do write business, it will be picked through with a fine toothed comb. Cases will surely get rejected, which means money you thought you made will be taken right out of your draw account for the most ridiculous reasons you can imagine. It amazes me the opposing forces within the company of produce produce produce and "oh, sorry, we can't approve this case that you just worked your ass off for and in no way puts the client in a poor situating"

    So, in 2 words, GOOD LUCK!

    Advice to ManagementAdvice

    CDP is a joke, but you love it because it costs you nothing! Put yourselves in a CDPs shoes and think to yourself, would you do this? Also, complience is a joke

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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