Northwestern Mutual

www.northwesternmutual.com
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Northwestern Mutual Reviews in New York City, NY

Updated February 22, 2015
Updated February 22, 2015
101 Reviews
3.3
101 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Northwestern Mutual Chairman and CEO John E. Schlifske
John E. Schlifske
101 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

101 Employee Reviews Back to all Reviews

Sort: Popular Rating Date
  1.  

    Great learning experience, real chance to make good money...

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

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

    Pros

    Good sales school. Stipend acts as a separator from other similar insurance internships. Great post-intern opportunities because my mentor is well connected in the industry

    Cons

    Long hours during the summer and very little pay off in terms of cash flow ($100 a week stipend)

    Recommends
    Positive Outlook
  2.  

    Recruiter prospects: good for learning, pay is way below market value in NYC

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

    I worked at Northwestern Mutual

    Pros

    The people you recruit will work for commission only--that's the most difficult type of recruiting you can do. If you succeed, you'll learn how to find talent and sell as good or better than any recruiter out there. Good training / learning for the basics of recruiting: high activity, hit the phones, referrals, sell the meeting, etc.

    Cons

    The pay is well below market value in NYC. $45,000 base salary when market value is $65,000 - 70,000 for entry level corporate jobs. Bonus structure, rather than commission, and they're very difficult to hit. Don't expect to make a lot of cash on top of your base in your first year.

    Despite the low-ball salary, management has little patience for lack of early results, so it's a revolving door. Average tenure is probably 10 months. Management's strategy is to pay low-salary, avoid giving bonuses, and cycle through people until they strike it rich on a decent recruiter.

    Advice to ManagementAdvice

    Take time to develop your recruiters. Understanding your in a "need results now business," either pay better for experienced recruiters or take time to develop the entry-level talent you recruit. New hires won't really get the hang of it for 6, maybe even 12 months, but many are let go just as they've becoming effective.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  3.  

    wealth management planning assistant

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

    I have been working at Northwestern Mutual

    Pros

    Overall you will learn the very basic process of insurance and investment provided by NM. If you want to work in insurance or wealth management field it may be useful. Your manager won't be in the office a lot, which i guess its good.

    Cons

    You will probably learn everything in two weeks and repeat everything again and again. Lots of details and lots of typings.

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  5. 2 people found this helpful  

    The company was home to me for many many years.

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

    I worked at Northwestern Mutual full-time (more than 10 years)

    Pros

    Working there was great. The support received from the hone office is unmatched.

    Cons

    Individual leadership. After mandatory retirement for leaders at 65, you sometimes get far inferior leaders that step in.

    Advice to ManagementAdvice

    Recognize loyalty when its there.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  6.  

    Wealth Management and Marketing Intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Intern - Wealth Management and Marketing in New York, NY
    Current Intern - Wealth Management and Marketing in New York, NY

    I have been working at Northwestern Mutual as an intern (less than a year)

    Pros

    The people at Northwestern Mutual are generally friendly and the office has a great work-life balance.

    Cons

    Unpaid interns get no structure. Financial Rep I was working for did not bother to give me guidance as to what I should be doing to develop my skills as a wealth manager. Mostly relegated to administrative office functions.

    Advice to ManagementAdvice

    Develop your interns, even if they're not in the Financal Rep track.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7.  

    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
  8. 1 person found this helpful  

    Comission Only Sales Position.

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

    I have been working at Northwestern Mutual as a contractor (more than a year)

    Pros

    it is great resume builder, you learn about interesting insurance products, and you gain real world sales experience.

    Cons

    Work is Life, Life is Work. you sell to all your friends and families first, which could drive them all away if you are not careful, you are your own boss and if time management isn't your thing prepare for a short career.

    Advice to ManagementAdvice

    offfer more incentives.

    Recommends
    Negative Outlook
    Approves 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.  

    Great training program

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

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

    Pros

    Fun environment, great training for college reps

    Cons

    Can be a grind at times

  11.  

    Great Company

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

    I worked at Northwestern Mutual

    Pros

    Flexible Schedule - That being said, you need to put the time in to get results.
    Pure Hunter Position - You need to have tough skin to do this job. You also have to be persistent.

    Cons

    Too much oversight for no salary. Not a lot of "tools" to help you be successful with prospecting. This is about numbers, but if you have the right numbers, then you don't need to smile and dial.

    Advice to ManagementAdvice

    NONE

    Recommends
    Neutral Outlook
    Approves of CEO

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