Foresters Financial - College grad turned into Top Mgmt in the company in short period of time | Glassdoor
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There are newer employer reviews for Foresters Financial

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Helpful (5)

"College grad turned into Top Mgmt in the company in short period of time"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Leader in Woodbridge, NJ
Current Employee - Leader in Woodbridge, NJ
Recommends
Positive Outlook
Approves of CEO

I have been working at Foresters Financial full-time (More than 10 years)

Pros

I did start out of college and was taught everything with a huge amount of support and training. The training was good and now is beyond awesome. I was not even a finance major and now I earn multiples of six figures. More important, FIC truly helps the everyday people. First Investors started this year paying for the License fees and offering a salary with benefits. Great product offering from all the major companies as well as some real nice advantages for clients because FIC is owned by Foresters, a non-profit community giveback organization.

Cons

Requires very hard work first few years. None otherwise.

Advice to Management

Keep up the great work listening to your people and making so many wonderful changes! It's like a new company, even better then it was two years ago.

Other Employee Reviews for Foresters Financial

  1. Helpful (4)

    "Working for First Investors was the best decision I have ever made"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Service Representative in Washington, DC
    Current Employee - Financial Service Representative in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Foresters Financial full-time (More than 3 years)

    Pros

    Unlimited Income Potential
    Great Payouts and Benefits
    Flexibility in scheduling

    Cons

    Long hours when you first start


  2. Helpful (12)

    "Thinly veiled pyramid scheme"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor
    Former Employee - Financial Advisor
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Basically none; work is entirely commission with no benefits. No remuneration for driving around everywhere in an over-saturated market. You will be cold calling; First Investors has no marking department.

    Cons

    Too many too list. This company basically hires recent college graduates who don't know any better. Many of the people who work at this company have parents with money; so first investors uses their employees to sell products to their family members. Within beginning work you will be asked to write a list of "connections"; it's basically just your family and everyone you know. They then expect you to peddle to them.

    There's no salary. No health benefits. They recently introduced both, but it's poor. The conditions required for the salary make it redundant. If you can sell as much as the minimum you wouldn't need the salary.

    This is basically a pyramid scheme. Beware of any company that spends more time and effort on hiring new people rather than marketing or market research.

    Most of the managers are simply big fish in a little pond, and made a lot of money by bullying their way into it. They are not helpful at all.

    The interview process was also misleading; unlimited income is almost impossible.

    The managers also try to instill this "make it or break it mentality", which puts much of the blame for lack of success on the representatives. The truth is First Investors spends zero amount of money on marketing or market research. All you get are pamphlets, which you can distribute yourself. Basically they are getting free labor off of their workers. I'm not sure how this isn't illegal.

    Advice to Management

    Actually care about your employees; give them a salary or benefits. Spend money on marketing, rather than using unpaid sales representatives to prospect themselves. Horrible business model.

    Stop shaming representatives into thinking "well, if you can't succeed you just can't cut it." Support your representatives.

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

See Most Recent

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