Northwestern Mutual - Financial Representative | Glassdoor
There are newer employer reviews for Northwestern Mutual
There are newer employer reviews for Northwestern Mutual

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"Financial Representative"

StarStarStarStarStar
  • Career Opportunities
  • Senior Management
Current Intern - Anonymous Intern in Bellevue, WA
Current Intern - Anonymous Intern in Bellevue, WA
Recommends
Positive Outlook
Approves of CEO

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

Pros

Great perks and great pay

Cons

Phoning is the worst part

Advice to Management

More social events!

Other Employee Reviews for Northwestern Mutual

  1. Helpful (1)

    "Financial Rep who failed"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative
    Former Employee - Financial Representative
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Northwestern Mutual full-time (Less than a year)

    Pros

    You learn about the insurance industry. You also learn a ton about sales. If you can sell insurance, especially to strangers, you can sell literally anything.

    Cons

    Basically, if you don't have a natural market in the area, i.e. people whom you KNOW are willing to buy insurance, you are going to have a very difficult time. In order to be successful, you need to be motivated, put in a ton of work, and operate off of referrals as quickly as possible.

    I didn't have a natural market going in, and instead relied on my alumni database to set meetings. I was at work by 7:30AM every day, called around 50 people a day to set meetings, and would bring along as much joint work as possible. Regardless of my effort, I wasn't able to close many deals, hardly at all. For that matter though, neither did my joint work. There are a lot of emotional highs and lows in this business. There is also a lot of stress. I did get better at every aspect of the process during my six months, but there wasn't enough compensation coming in to continue my fight.

    Senior reps are there to help you. If you put forth the effort, they want to help. That said, they are also looking out for themselves, and rightfully. You're bringing business to them in exchange to see their skills in action. Some are definitely better than others, and some are more ethical than others. Generally you split commissions on joint work 50/50, and the "lives" for policies issued. Most senior reps are willing to do joint work when they don't have something else scheduled, or you ask early enough. Most prefer the person you're scheduled to meet to have a high income and be married.

    Honestly, some of the senior reps can come across as a little sleazy; flashy suits, whitened teeth, and a breath of arrogance. Sometimes there's a lot more confidence than actual intelligence... but you NEED to be confident to sell. You should like to talk.

    First year reps are all pretty stressed out. Some get pretty down on themselves. There is a very high turnover rate. I'd estimate about 80 or 90% in the first year leave. It's tough, no doubt about it. If you have a lot of family who are willing to buy, or a lot of friends who are married, this could be a lot easier for you. However, even people who say they will definitely buy insurance, prior to starting, won't. and some of your closest friends who you'd assume would help with referrals won't, while some people whom you won't expect will give you a ton. There's no way of telling.

    Overall, I learned a lot. It was a good experience, but I'm definitely glad it's over.

    Advice to Management

    Learning by trial and error is costly to new reps in time, money, and stress. I think I would have done a lot better as an Assistant Financial Rep before becoming a Financial Rep... instead of going in as a Financial Rep. Trainning just didn't cut it. Be HONEST about the turnover rate and give reasonable expectations of compensation during the interview process. Don't promise a rose garden, let potential reps know what they're getting into. Many will still accept the job offer.


  2. "I am treated well and would like to stay as long as possible"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate Financial Advisor in Dallas, TX
    Current Employee - Associate Financial Advisor in Dallas, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Northwestern Mutual full-time (More than 3 years)

    Pros

    Many aspects of the job are negotiable: salary, hours, bonuses. The company is good and the training available is also good.

    Cons

    In the area of support, growth potential is limited. If you work as a registered sales rep, growth potential is unlimited.

There are newer employer reviews for Northwestern Mutual
There are newer employer reviews for Northwestern Mutual

See Most Recent

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