First Investors Corporation

www.firstinvestors.com

First Investors Corporation Reviews

Updated January 28, 2015
Updated January 28, 2015
189 Reviews
3.8
189 Reviews
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First Investors Corporation President & CEO Bill Lipkus
Bill Lipkus
40 Ratings

Review Highlights

Pros
  • New Training Program: It used to be straight commission, but has since changed to a base (in 18 reviews)

  • Good training program, high energy, potential to make a lot of money (in 7 reviews)


Cons
  • No benefits because you're an independent contractor (in 17 reviews)

  • You have to sell to your friends and family which is not the best feeling (in 9 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Enjoyable temporary employment

    Former Employee - Temporary in Edison, NJ
    Former Employee - Temporary in Edison, NJ

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

    Pros

    Easy temporary employment, management seemed to want me to succeed and all co-workers also treated me as a co-worker and not just temporary staff

    Cons

    position as offered and starting salary is low

    Recommends
  2.  

    Financial Services Registered Representative

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Representative in Los Angeles, CA
    Current Employee - Registered Representative in Los Angeles, CA

    I have been working at First Investors Corporation

    Pros

    Great training program structure
    Great support for getting licensed (Life, Series 6 & 63)
    Pay for licenses
    Management gives great flexibility and support
    Reimbursed for driving, trade show, and other prospecting for first 9 months
    Growing Company-expanding-opportunities to move up to management in a few years
    Once you hit your numbers and become independent you are your own boss-you can come in when you want
    Great values-never told you to push one product, promoted doing right by the client, management are good people

    Cons

    You have to build your business (book of clients) from scratch- Hard when your in your 20's to get people to sit down with you
    Long hours
    No benefits
    People view you as a sales person and avoid you like the plague when prospecting
    Lots of competition in the market place- Highly saturated-people have never heard of the company
    The interview leads you to believe you can climb the compensation latter quickly when in reality most people in the office are not taking home enough to cover their expenses
    Limited number of products you can offer

    Advice to ManagementAdvice

    Be more forthright and transparent in interview process about the hours and reality of how hard this job is
    Don't bait people with commission compensation pitch when in reality it takes minimum of 3 years to bring the compensation you tell them they can make in the first year
    Find a solution to the retention issue

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

    Decent platform

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

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

    Pros

    Good People - for the most part easy to work with. They hired competent staff

    Cons

    The owners of the firm were stingy on compensation, and that meant most were underpaid. Situation may have changed under Foresters

    Advice to ManagementAdvice

    better work-life balance, better compensation

    Recommends
    Positive Outlook
    No opinion of CEO
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  5.  

    Good company.

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

    I have been working at First Investors Corporation

    Pros

    Good company to work for. Have a good training program. Pay for the tests.

    Cons

    Low Salary, have to put in a lot of hours, good amount of cold calling

    Recommends
    Positive Outlook
  6.  

    New management is deplorable

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

    I worked at First Investors Corporation

    Pros

    Most of the people that work there are nice, friendly, and treat you like a human being.

    Cons

    Management does not treat you like a human being, especially the assistant manager. The constant negative criticism is overwhelming even when you're doing everything right. The Houston office is looking to expand, but people keep leaving because of their rude and bullying attitudes.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7. 3 people found this helpful  

    Good company!

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at First Investors Corporation

    Pros

    Company works hard to make sure everyone has an opportunity
    Work hard and get the rewards or fail, this career demands a lot of dedication. Definitely not a 9-5 job.

    Cons

    No safety net. Starting out, you have to survive off meager means or have some money to the side, no guaranteed salary

    Advice to ManagementAdvice

    Keep doing what you're doing. Good training and good supports to representatives.

  8. 1 person found this helpful  

    Great experience!

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

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

    Pros

    Awesome office with even better workers that truly know what it is to work hard but also enjoy themselves at the same time. Loved the training program, really learned a lot and anyone is willing to help you in anyway they can especially Senior Management.

    Cons

    The amount you're paid while passing life insurance and series tests. And also expected to bring in business during that time.

    Advice to ManagementAdvice

    See above for cons.

    Recommends
    Positive Outlook
    No opinion of CEO
  9. 2 people found this helpful  

    Dont do it

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

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

    Pros

    The only pro is for FI after all your friends invest in their subpar funds

    Cons

    Everything the company stands for

    Advice to ManagementAdvice

    Go jump in a well you shysters

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10.  

    Thick skin is a must-have

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

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

    Pros

    Great support team and incentives to thrive in the business. You start out with a base salary to give you somewhat of a safety net.

    Cons

    It just wasn't the right fit for me. You have to be a maniac (in a good way) on the phone to set up as many appointments as possible.

    Advice to ManagementAdvice

    The STC study material is not the best help on the variable licensing tests. I used Investopedia to study for my tests and it was a far greater resource.

    Recommends
    Approves of CEO
  11. 2 people found this helpful  

    Get what you give

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

    I have been working at First Investors Corporation full-time (more than a year)

    Pros

    I wanted to work at a company where my success both in income and helping others is directly related to the amount of effort and work I put in. I've been here for two years now and that is exactly what this is. When you first start, you are given salary and commission. You also get your overhead and your licensing paid for. They provide all the tools and know how you would ever need to make your goals happen. We have a work hard, play hard attitude. The management here are not only always available, but they are passionate about providing any support needed. It is amazing to know the only ceiling I have is up to me!

    Cons

    The only con I could see someone having is the fact that when you start any business you have to invest your effort and time into it to really get a good foundation. Because of that, the work-life balance is off for a while. To me however, I will give up that time gladly for the life doing so will provide me later.

    Advice to ManagementAdvice

    My advice to management would be to get more on the management team to support our companies amazing growth.

    Recommends
    Positive Outlook
    No opinion of CEO

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