KEY NOT FOUND: coverImgAlt
Logo

Primerica

Is this your company?

Primerica

Add a Review

Primerica Employee Reviews about "pyramid scheme"

Updated Jan 19, 2021

To filter reviews, or .

Found 75 of over 1,558 reviews

4.1
80%
Recommend to a Friend
91%
Approve of CEO
Primerica Chief Executive Officer Glen Williams (no image)
Glen Williams
577 Ratings
Pros
  • "Access to study material for all licenses online(in 131 reviews)

  • "You can work part-time and transition to full-time(in 72 reviews)

  • Cons
  • "May possibly be a pyramid scheme(in 59 reviews)

  • "Small con would be 100% commission based(in 58 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Ratings by Demographics

    This rating reflects the overall rating of Primerica and is not affected by filters.

    Want more demographic options?

    Reviews about "pyramid scheme"

    Return to all Reviews
    1. 5.0
      Current Employee, less than 1 year

      Standup Company

      Jan 18, 2021 - District Leader in Peoria, AZ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great Company Culture, Integrity in Financial Services, Flexible Hours, Flexible Pay, Commission structure, You get out of it what you put in.

      Cons

      The only Con is overcoming the perceptions of those who don't understand the difference between MLM and an actual "pyramid scheme". I don't have to deal with that very often, though.

      6 people found this review helpful
    2. 5.0
      Current Employee, more than 1 year

      Not all people have a business mindset

      Jan 4, 2021 - District Manager in Middletown, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      The company is not a pyramid scheme because that is illegal and would have been shut down. We’ve have been around since 1977 and are on the NYSE. That is just funny to me because if you paid attention, you wouldn’t be saying that (or it’s that you have absolutely no idea what a pyramid scheme is lol). Also the environment is positive and motivating. You have a support system. Do not ever let negative people deter you from your goal. A lot of people in the reviews have said things disgusting about the company that isn’t true; it may be true about the terrible agents they’ve had but not the company. I feel sorry for the people that went through that.

      Cons

      The naysayers and skeptical people that join then quit, trying to talk down on the company because they had a bad experience. Also bad agents, of course.

      Continue reading
      5 people found this review helpful
    3. What people are saying about Primerica

      Join the conversation on

      Advertising

      10m

      a 

      Media Associate

      I had a second round interview for an entry-level Investment Analyst position with OMG exactly 2 weeks ago. Today I got a call from a woman with Primerica (financial services) saying she was given my info & that they were interested in me. We had a mini chat & we set up a longer one for tomorrow. Do you think OMG gave my info out instead of a direct no? Is it a good sign she reached out to me so fast? Is she a headhunter or just a recruiter? Sorry for the all the Qs, I'm just excited lmao

      18

      12 Comments

      Join the conversation on
    4. 5.0
      Current Contractor, more than 1 year

      NOT a pyramid scheme

      Jan 6, 2021 - Office Manager in College Station, TX
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Definition of pyramid scheme: a form of investment (illegal in the US and elsewhere) in which each paying participant recruits two further participants, with returns being given to early participants using money contributed by later ones. Primerica works with companies like Quicken Loans, Invesco and Brighthouse Financial. Pyramid schemes are illegal. Don't you think these major financial companies would do their research and stay away from something that was illegal? Primerica is structured just like a real estate office. You will grow as much personally as you do professionally in this business.

      Cons

      You have to do the work. People get mad when they don't get rich quick, but that is not what this business is. Just like any other career you get into, it takes time to learn and build your clientele. Not sure that is a negative, but people just don't want to work and then they get mad when it doesn't work out and they blame the company!

      Continue reading
      3 people found this review helpful
    5. 5.0
      Current Employee, less than 1 year

      Legitimate

      Jan 4, 2021 - Representative in Montgomery, AL
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Legit way of making income

      Cons

      pyramid scheme built, commission only

      Continue reading
      2 people found this review helpful
    6. 5.0
      Current Employee

      I don’t agree with the marketing aspect

      Oct 20, 2020 - Sales Representative 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great environment and positive energy

      Cons

      Seems like a pyramid scheme

      6 people found this review helpful
    7. 1.0
      Former Employee

      Pyramid Scheme

      Dec 2, 2020 - Financial Analyst 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Pick your own hours and work days.

      Cons

      Pyramid Scheme, Pyramid Scheme, Pyramid Scheme

      5 people found this review helpful
    8. 5.0
      Current Employee, more than 1 year

      Your work ethic and attitude will MAKE you or BREAK you!

      Sep 27, 2020 - District Leader in Lafayette, LA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      When you have GOOD leadership this is the best opportunity in the world. Access to study material for all licenses online! (Life License, SIE, Series 6/63, etc) I’m manager at a Billion Dollar Company making over “$60,000” in salary, and recently I’ve made MORE biweekly with Primerica PART-TIME. The results you get as an agent are a direct reflection of YOUR work ethic, mind set, maturity, Coach ability, and attitude! If this business doesn’t work for you it’s because you refused to tap out of the “Corporate America mentality “ where you get paid to BE there but not to DO productive work. People say this business is a “Pyramid Scheme” in my opinion 9-5 jobs ARE PYRAMID SCHEMES! At a 9-5 the manager will never make more than the owner, and you’re pod by your position, not your work ethic. Primerica at LEAST gives you a shot to learn the business and eventually work your way up to ownership (Regional Vice President)

      Cons

      I emphasized GOOD leadership. Be mindful of the agents with piss-poor leadership skills or who lack ethics. I’ve ran across tons of people in this business who recruit to make money off of you and dump you, instead of with the intent to train and develop you. The few bad apples are why there are so many bad reviews, and high turnover out there. Trainings are ALWAYS at a bad time. This business is geared towards part-time people transitioning into full-time. They have trainings in the middle of the day when most people are at work. Accepting agents with ill intentions for clients and other agents makes a GOOD agents job harder.

      Continue reading
      9 people found this review helpful
    9. 5.0
      Current Employee, more than 1 year

      An unparalleled business opportunity for massive GROWTH in your income and your life

      May 28, 2020 - Regional Vice President 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Set your own schedule. Get paid what you're worth - your pay is in direct correlation to your effort, not up to somebody else. Unlimited growth potential. You can build as big as you want. Passive income opportunity through overrides and residuals. Opportunity to legally own what you create, sell it, or pass the passive, business-producing income down to your family for generations forever. Unlike a typical "job" where all you have when you're done is what you saved up. You can build a pipeline instead of carrying buckets forever. Instead of a 401k with "company matches" we get straight up stock bonuses that are vested immediately, and we are not required to invest our own money into the stock to get the bonuses. Every time I promote someone, I get a bonus, which gives me incentive to help my people get promoted and earn more money. For new people, your RVP WANTS to promote you asap. When you become an RVP you get a big stock bonus as well and can then qualify for stock bonuses for promoting your people. No boss. Making so many new friends of like-minded, positive, motivated people. Trainees can begin making money immediately through simply observing their trainer in the field. Work from home/online if you wish. Pandemic-Proof. Professional state and federal government financial licenses at an unbelievable rate. The most positive work environment I've ever experienced. Broke me free from my full time job where I was not getting paid what I felt I was worth and did not have the freedom I enjoy today. Saved my friends and family, the people I care about the most, a ton of money and protected them from financial hardship. Direct training from multi-millionaire mentors. World-Class financial education for reps and clients Ability to do what's RIGHT for families 100% of the time - I cannot even begin to tell you the countless personal client examples where we took a situation where they were getting totally messed over by other financial institutions and we were able to save them hundreds of thousands of dollars over the course of their lifetime. You learn about the downfalls of cash-value insurance, exactly how it works, and the greed of that industry, you also realize we are one of the only companies out there that is actually doing the right thing 100% of the time when it comes to helping people pass on more money to their families if they die and keep more of their money if they live past their term than if they had a cash value product. An overwhelming sense of making a positive impact on the world after we help families in big ways solve their financial challenges and save them from predatory products. Developing life long relationships with clients. Freedom. Access to the absolute best World-Class financial products and software, like Morningstar. I can dramatically improve a client's financial situation nearly 100% of the time. Business support from Home Office. Low-cost State and Federal financial licenses. Free, World-Class financial planning for main street American families - no client too big or small for us to help. Ability to help others earn more income or create a career change. Corporate leadership who are always working to improve our platform for our field force. It just keeps getting better every day. Not just "selling"... I get to help families save money in different areas, and then can help guide them on how to reallocate it wisely to protect their family properly and grow the rest. Great long term vehicle for growing your income. Most business owners aren't profitable for several YEARS after building their businesses, but here you can turn a profit here on your first client. You have a financial interest in helping your new trainees succeed. The system is designed beautifully to push people up, unlike a corporate pyramid where you're stuck and its ultimately up to someone else how much you work, how much you are worth/make, whether you will move up, etc. Here promotions are automatic. When you hit your numbers, you get your promotion and move up. I hit my numbers based on my own very hard work and determination and mentorship from my leaders, and earned my promotion as soon as I hit the numbers. Simple as that. You are in 100% control of that here. Commissions are HUGE, especially when you earn your RVP contract. Nobody holds you back here. Everyone wants each other to be successful!

      Cons

      Virtually none on the company itself. Primerica itself is a truly amazing company. But there are "cons" to the work that people need to be strong enough mentally to go through in order to be successful. Most involve dealing with people who are unmotivated, inconsistent, don't know how to do proper research, have fear of other people's opinions, etc. I will be very honest. So if you want to read a review from someone who has actually been successful, here it is! They are as follows: Negative reviews from people who quit early in the game because they are too afraid to market their business or just jumped on the negativity bandwagon without knowing how to do real research or just commit and give it a real go. Most people take advice on success from people who are not successful. Observe this forum. Most people have no clue what they're talking about. People can often be negative when something is new or different. "Sounds too good to be true" doesn't mean it ISN'T true. Wealthy and Free people DO exist. Most of those own/built businesses or real estate portfolios. But most people do not have that mindset. They have been conditioned since birth to become an employee and work hard at a job for 40 years so they can retire on less than 50% of their salary. People think that you have to GET recruited to have a good life. Yet the wealthiest people do the opposite. People have a hard time getting past that. People often have a sense of entitlement instead of a mindset of crafting the life they want and building it for themselves. It is so prevalent in today's day and age. Finding motivated, good-hearted people that get started, but then get easily talked out of a great opportunity by employee-minded friends, family, and reviewers. They don't understand the cash flow quadrant, and even if they do, sometimes that pull back to their comfort zone and the land of the familiar is too strong. It is really sad and sometimes frustrating to see people with so much potential give up on themselves and the future they could have. I think our representatives need to be more selective when recruiting new blood into the business. People who are not business-minded just end up quitting and writing negative reviews which does nobody any good, and portrays a negative, misinformed, and misrepresented view of our company. Facts we are required to disclose, such as that the "average" rep in the company makes just over 6k per year. That fact is technically true, but is taken wildly out of context and completely misses the big picture: It does not factor in the people actually working 40+ hours per week in the business vs those who do nothing lol. The real FACT is that nobody makes you work here. It's like a gym. Just because you have a gym membership doesn't mean you're going to get ripped and beautiful. Just because you have POL doesn't mean you're going to get rich. The fact is, most people with a gym membership don't fully commit. Is that the gym's fault? no. The same is true with Primerica. We give people all the tools, but if they are too scared or too lazy to do the work and don't do it, it's absolutely never going to happen. When people don't have a boss, most people just don't have the self discipline to be their own boss and actually hold themselves accountable. Even I struggled with that at first. I had to learn how to do that and be consistent. I have a team of dozens of licensed representatives that I oversee, but the vast majority of them do not work, let alone work consistently. Only 3 or 4 of them actually work consistently. So when we are forced to disclose statistics like that, it portrays us in a negative light with a completely irrelevant fact. That's not the company's rule either (I believe it's the FTC's requirement). People criticize the company saying it is a get rich quick scheme. You tell them it's not, that it's a lot of hard work consistently and learning that needs to take place first. Then they join. Then after a week they aren't making six figures yet so they quit... so... they secretly DID wish it was get rich quick lol. Then you get all these people who were "in" the business for 1 to 2 weeks, didn't do anything, quit, then go online and bash it, which means we end up with the vast majority of reviews online from people who never even gave it a real shot, saw something or listened to their broke divorced Aunt Mary who told them it was a scam. (Imagine if Steve Jobs or Mark Zuckerberg or Bill Gates or really anybody who has built a successful large or small business quit only a week or two into it, or when they faced their first bit of criticism or hurdle or even 6 months into it when things got tough lol. You'd call them crazy!) But THOSE quitters are the reviews new people have to look at: no real merit or truth, just throwing literally crazy words like pyramid scheme and scam around for a highly rated, highly successful, highly government regulated, New York Stock Exchange fortune 1000 company. And it scares people out of a good opportunity. What a shame. Better be tough enough to handle that if you want to win in business. Will you listen to quitters who failed? Or will you listen to Winners who have what you're looking for in life? Gotta go through a lot of "duds" to find the studs, but the ones who are motivated enough to actually do the work consistently and are coachable win. Most just are not, and you need to be okay with people disappointing you a lot. Hate to break it to ya, but you have got to be willing to get out of your comfort zone. Get comfortable being uncomfortable and making sacrifices in your life to get the reward. You will have to make sacrifices no matter which way you choose. You will be pushed to your limits and you need to learn to break through them. But once you do you will have things and live a life you weren't able to before... and it is absolutely worth it.

      Continue reading
      37 people found this review helpful
    10. 1.0
      Former Employee, more than 1 year

      Run for the hills

      Oct 28, 2020 - Customer Service Associate in Boston, MA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      There is nothing positive about this company or their recruiting process.

      Cons

      All cons , SCAM, unprofessional, pyramid scheme, ghetto

      Continue reading
      7 people found this review helpful
    11. 4.0
      Current Employee

      Maybe a scheme

      Oct 2, 2020 - Seller in Paterson, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Helps you get a legit license.

      Cons

      May possibly be a pyramid scheme.

      2 people found this review helpful
    Viewing 1 - 10 of 75 Reviews

    Popular Careers with Primerica Job Seekers

    JobsSalariesInterviews

    Work at Primerica? Share Your Experiences

    or