They handed me a packet of information which included a blank list that I was supposed to populate with 100 names and phone numbers and return to them if I wanted to intern. I guess I will go in next week anyway just to get my first exposure to an interview. I interviewed with them as a freshman. The Fall Semester Intern will be responsible for assisting the team, both with day-to-day tasks and long term projects. i interviewed for a position for the summer after my freshman year not knowing any better, and during the interview, realized how big of a scam it was. The CUD serves a few different functions to further the deception that you've stumbled upon this awesome opportunity. Fugit nulla tenetur aut voluptas alias et voluptatibus ratione. For a freshman at a non-target this is not the worst opportunity in the world. Additionally, it is one of the top 10 internships . Feel free to PM me if you want more info! Northwestern Mutual insights Based on 1,075 survey responses What people like Supportive environment Ability to learn new things Time and location flexibility Areas for improvement Overall satisfaction Fair pay for job General feeling of work happiness Great company. This also includes multiple worksheets that ask who do you know and how comfortable you would be talking to people. If you want to just be in PWM and come in at the bottom (ish) level like an analyst, then you can do it. Selling life insurance to my family, and friends (who are 18-20)?!?! You think to yourself, "okay a little weird, but I understand where they're coming from, and I can always just refuse to sell to my family if I'm uncomfortable with it.". You're pretty much selling insurance to your "contact list." I'm interested in finance positions or consulting for the long run and was hoping to tie the internship's aspect of meeting with prospective clients to do financial planning with an interest in consulting for interviews next year. The only real problem I would have is calling my friends and family, which I would never want to do. Either the biggest scam or smartest business model I've seen. NMW is the finance equivalent of selling DVD's on the subway. If you don't know a lot of well off people you wont do well. As far as the actual insurance goes, they are probably the most prestigious and well-capitalized company in the entire industry. I'd try and find something else. Things will undoubtedly go well for you in that first interview -- you'll feel like you're on cloud nine. Throughout the book, Tyson unleashed an absolute assault upon commission-based financial advisors, the very position I was in at that point in time. From what I've read it's obviously going to be a sales job, but I really wouldn't mind doing sales and cold calling. Before I start lemme throw it out there that I've already spent a good half hour reading through all the NM threads on WSO. I just got invited to do a phone interview with Northwestern Mutual in their wealth management division. Essentially what everyone else has said. My last round required me to write a list of the wealthiest people I know, followed by calling them and trying to sell them insurance. They were on campus for a "career night" when I was in college and tried to pitch themselves as some sort of investment firm, making it sound like you'd be figuring out which stocks and investments their clients should buy. It even has you give a salary amount that would be required to reach these goals if they cost money. WSO depends on everyone being able to pitch in when they know something. If you don't have family and friends in the area you want to work in they won't even consider you. The interview was noticeably upset. This is not actually the case like 96% of the time, but more on that later. Sit assumenda explicabo est voluptas eos quas. Some people are successful at it though. Anonymous Interview Candidate in Spokane, WA, I applied online. This interview will also go uncannily well. Internships are the beginnings of one's professional development; so working at a company with strong professional development is beneficial. She liked the fact that I knew a lot of people and had been living in the area for several years. During his first week, they told him to take a blank sheet of paper and fill it out with all his relatives and friends with their phone numbers and emails. Same fucking girl called me at least 10 times asking me to be a sales associate for them. It's important to know that Northwestern Mutual employs a hybrid work model. It's not a formal program, and they don't offer summer positions. I did not have any relevant finance experience to speak of, so I was considered taking the opportunity for quite a bit. Even if it's unpaid, or the job sucks." Awesome interview process. You won't pick up much in terms of knowledge or capability at either. I know you didn't mention compensation but I guarantee it is commission based. PS - This is my problem with the Vault guides and rankings. We invest in our people. Sophomore Internship BNY Mellon|Ayco, a Goldman Sachs Company|S&P|Northwestern Mutual|Boutique Firm|UTC Aerospace Systems (Originally Posted: 03/11/2014). or Want to Sign up with your social account? It's not fun though, and your friends will begin to hate you as you incessantly ask them to buy insurance and for references. Did it last summer like Wahoo - He hit the nail on the head. ER - Hearing back after first round interview? I used to think it was shitty experience. They'll tell you that "investments give you a salary, but insurance pays the bills.". I'm still in the process of cold emailing/calling alumni (fraternity) so there may be a slim chance for me to land something at a boutique still. I know what you're thinking: how were you supposed to advise people with no previous planning experience? If you want to be an advisor, then it will be incredibly difficult to transition to PWM and come in as an advisor. For more information, please see our Let me explain something to you about this internship. Internship at Northwest Mutual Review Our users unanimously agree that the program is not one that you should be targeting if you are interested in gaining a meaningful internship experience. I've thought about doing community service, but honestly I'm pretty burnt out of it .Been doing a lot of CS my Freshman-Senior year of high school, and even went and worked on a CS project in Ireland helping a small township. They are awful! An internship at Northwestern Mutual is so much more than a line on your resume. However, as a financial advisor, you might be required to put in more hours so you can achieve the sales target. Does anybody know anything about their internship program? Quia id fuga corporis repellat. Lol, if you're in the midwest (like chicago, or U of I), the equivalent is Mass Mutual. Lives, New Clients, Premium? Firstly, they'll relate to you a lot, telling you they were just like you 5 years ago and look where they are now! If you think you might want to be in anything that requires sales skills, these are great jobs. so is it the market that im gonna work with??!! Illo nihil omnis et voluptatem voluptatum. As a new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. Past interns say they got "real-life financial planning experience" with an "opportunity for personal and professional . Sink_or_Swim is wrong on reputation. Oh, and I stole their pen should I give it back when I go in for round two? Copyright 2023 The Northwestern Mutual Life Insurance Company, Milwaukee, WI. It won't impress IB recruiters, but if it helps you become more outgoing and develop sales skills (read: sell yourself), it can be a big boost. PWM job at a known bank would be better on your resume. Internship candidates can. 2. I cannot imagine why Vault would name them a top ten internship- I would seriously consider taking a retail job over it. "Our internship program is a source of longstanding pride; many of our interns go on to have long, impactful and rewarding careers at Northwestern Mutual," said Vice President, Distribution Performance John Roberts. Does anyone know about NM PWM? In the end, it depends on the office, I can't say where I work but it's one of the more respectable offices with a lot of successful people and a managing partner who's easy to get along with. google it first. Breaking into PWM from Northwestern Mutual (Originally Posted: 02/04/2014). I did this internship going into my junior year of college and everyone on here is right, only do this if you have no where else to go. The reason I call this "The Hook Phase" is because you've sunk a lot of resources, time, and energy by this point, so they've basically hooked you on the internship. In reality, all you're doing is setting up a meeting to gather information about their financial situation. Assist office staff across all clerical functions including filing, copying, and scanning $224 billion2 (retail investment client assets held or managed) Forbes' Best Employers for Diversity (2018-2020) Unsurpassed financial strength3 With so many opportunities to learn, grow and stay with us after graduation, this is a jump start for your career. protective gear)0 % What advice do candidates give for interviewing at Northwestern Mutual Basically, they want you calling all of your friends and family during your first few weeks and pitch them insurance products. If you don't get a FT offer from NWM you will probably get FT from GS, MS, JPM. Worst case, take the NW job and keep looking. Placeat dicta velit quis repudiandae. I hated it while doing it, but in retrospect I learned a lot about networking, sales, personal motivation, etc. I had just graduated as an economics major from my university, the most egotistical of all the finance and business-related fields might I mention. Interviews at Northwestern Mutual Experience Positive 52% Negative 16% Neutral 32% Getting an Interview Campus Recruiting 38% Applied online 29% Recruiter 17% More Difficulty 2.2 Average Hard Average Easy Interviews for Top Jobs at Northwestern Mutual Financial Representative (1235) Intern (517) Financial Advisor (474) I did an internship in the DC area with NMFN after my sophomore year and it was a good experience. The problem is, whole life sales make BIG $$$ for insurance agents, so naturally Northwestern Mutual will tell you it's the best invention since sliced bread. Voluptatem autem magnam sunt porro quo odit magni. I politely said "I do not." From what I heard Had a bunch of friends who had started there and quit within a year Like someone said above, I'd hold out for something else. I don't know how rules work with securities brokerage but I'm 99% sure I would just cold call leads. Voluptas non dolores expedita ut et. and our Dont expect too much in money but expect a lot of phone calls. NMFN takes TONS of people. The scheme involves employees signing up for online courses that they believe will help them gain experience and skills necessary to become managers. We look forward to continuing our commitment to offering a uniquely rewarding development opportunity for students exploring a career in financial services.". Yahir Hernandez, Financial Advisor. The company seems flexible. Northwestern Mutual (Originally Posted: 04/04/2011). They'll email you a little packet with info about the sales cycle and different techniques for networking. They also said the president of my school had good things to say about me. All of that said, don't get too caught up on firm names, concern yourself more with having resources (research, trading, big back office) and open architecture, and have as many informational interviews as you can if you're looking for jobs. Dolore qui autem nostrum nemo praesentium distinctio ab. Each year your clients don't cancel, you get an ongoing stream of renewals, so your "base" continues to rise. This internship opportunity is offered in Milwaukee, WI. They must be the real deal! 2005-2023 Wall Street Oasis. Had an internship with them last summer. Unfortunately, your contact list is comprised of, oh yeah, your college friends (who are broke, because they're in college) and your family (they have jobs which pay them money). i have been in 2 interviews with them, and now they give me a sheet to compile a list of all my friends/ families/ relatives. Interviewer looks unprepared because the background was dimly lit/dark. My friend cold called like a champ (in a good economy) and was a top performer in NYC for his rookie class. so they take hundreds of interns in and then use those networks to sell insurance to webs of thousands of ppl across the country. This to all my hatin' folks seeing me getting guac right now.. "And my straw reaches across the room, and starts to drink your milkshakeIdrinkyourmilkshake! Can really feel the positive culture. You want to know why I know that's what you're thinking? In fact, you're not even sure you understand how the policies function, and you've recommended them to dozens of people already. What is my best way to handle this then? Ready to get started? The benefits far out-weigh the negatives if you're an entrepreneurial type and you want to own your own business. The next step is an in-depth conversation and part of it involves them asking me why I want to work for them and why they should choose me over other candidates. Start/manage a local CS initiative and recruit your classmates to participate in and you really have something worthwhile to talk about. 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