Foresters Financial - Preys on Recent College Grads | Glassdoor
There are newer employer reviews for Foresters Financial
There are newer employer reviews for Foresters Financial

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Helpful (6)

"Preys on Recent College Grads"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Financial Services Representative in San Jose, CA
Former Employee - Financial Services Representative in San Jose, CA
Doesn't Recommend
No opinion of CEO

I worked at Foresters Financial full-time

Pros

-Good Location
-Supportive managers
-Young Staff is fun

Cons

Too many to list...Here are a few
-100 % commission--you get a % of a % of a %....essentially they are taking a huge chunk of YOUR hard work until you reach level 4
-In the interview process they make you think you can make so much money on commission and they tell you about convention and all the fun trips to avoid how horrible this job is
-They make you work 8 hours a day and expect you to be COLD calling every second with NO PAY
-They make you work weekends..again with NO PAY
-Must pay 1000$ plus (which you will never get back) for your license
-The paperwork process is so long, you don't get paid for months
-I am now in debt
-Make you get family members and friends involved, only to quit later
-Many people left after getting their license
-NO BENEFITS

Evaluate your options before taking this job. There are so many other options out there that at least pay you a base salary without working all day. You will be in debt before making any money at this company. I wish I knew that before I accepted the offer and wasted my time getting licenses I will never use.

After you leave they take all your clients and hard work and pass them off to new reps.

Advice to Management

Be competitive with other Financial companies by paying a base salary to give some incentive to employees.

Other Employee Reviews for Foresters Financial

  1. Helpful (4)

    "Great Opportunity"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Registered Representative in New York, NY
    Current Employee - Registered Representative in New York, NY
    Recommends
    Approves of CEO

    Pros

    - Commissioned based jobs have higher payouts than salaried positions
    - bonuses on top of commission are generous
    - company provides a lot of travel incentives (in the past they've done st. maarten, puerto rico and for 2013 have a contest for bahamas and maui)
    - A lot of room for advancement, an easier way to earn six figures than a salaried position will allow
    - flexible work schedule
    - tax write-offs
    - can build your own portfolio
    - are able to help others while building wealth for yourself
    -must be confident and articulate (you are managing client assets, why should they give you money?) presentation is key

    First Investors just merged with a fraternal organization called Foresters which offers member benefits no other insurance company does. In addition, the company has been revamped and is working on a variety of mutual funds in addition to current holdings and is looking to become more technologically advanced through use of iPads. First Investors has a bright future ahead and our goal is the be the premier financial group for middle class America.

    Cons

    - not everyone can work a commissioned based job
    - takes time, but hard work pays off


  2. Helpful (1)

    "Nice Staff--First Investors Corporation - Miramar, FL"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Registered Representative in Miramar, FL
    Former Employee - Registered Representative in Miramar, FL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Foresters Financial full-time (Less than a year)

    Pros

    Nice staff. Always helpful and puts customer best senario first in every recommendation.

    Cons

    Needs modernization/uniformity of office desk, new breakroom appliances, furniture, and computers/copier/fax/wifi equipment.

There are newer employer reviews for Foresters Financial
There are newer employer reviews for Foresters Financial

See Most Recent

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