<p>i have an interview with them on tuesday and im stoked i have a really good chance of getting one of three internships...two questions
1. how much should i expect for pay
2. what should i do/say to really seal the deal for me</p>
<p>thanks all</p>
<p>Pay is almost entirely up to you…..meaning: you do all the work. They may throw in a $1000 stipend. I know 2 of my friends who did this internship; neither seemed too thrilled about it. I never applied for this internship, but I believe the internship process involves an interview and a personality test. This internship involves cold calls and weekly meetings to check on progress. If you desire a career in sales, then this experience should be beneficial.</p>
<p>Crap internship. Not worth it.</p>
<p>thanks guys thats what i got from the interview today...good money if you can convince all your family and friends to buy life insurance from ya</p>
<p>This internship is not all that great as they paint it. I turned down their offer for last summer. They really just hire thousands of students all over to go sell insurance and other financial products. Its basically a modern day door to door salesman! There are better things out there.</p>
<p>It's "crap" like fireballkid said.</p>
<p>I have an interview with them on Friday at their Cleveland offices for the internship. Are the interviews pretty much like the standard interview (i.e. name a time when you were a leader, what are your biggest weaknesses, etc.)? Do they expect you to have an in depth knowledge of the world of finance? I am currently a sophomore Aerospace Engineering major that has taken economics classes, so although I'm interested in the field, my knowledge is definitely sub-par.</p>
<p>dont do it...i promise its a waste of time unless you plan on being an insurance salesman for the rest of your life...worthless interview in mine they asked me what would my friends say are my five best attributes and what 3 people would i want to share this with and do i have 100 people to cold call?</p>
<p>in other words you would be better off selling security systems door to door they make more and it would do the same for your major</p>
<p>So why are theyin the top ten intership programs nationwide? I googled it and saw that these are the same results however she made it seem like it was very exclusive.</p>
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<p>I agree do not do it, i turned them down also when i went to their info session brought back dreaded memories of Vector Marketing. They rank that high due to amount of people desperately looking for internships. The people that stay are usually the ones able to sell insurance to every person they know. It does give you tools in the insurance biz but it is nothing better than a telemarketer.</p>
<p>The Northwestern Mutual internship is a waste of time. It’s nothing more than you selling insurance to your friends and family. There are many opportunities out there that are much better.</p>
<p>I feel bad for the poor kids who get suckered into this scheme.</p>
<p>Is this internship completely commission based? Why is the hourly wage listed as $9? Anyway, it sounds like complete crap. I’ve worked on commission before and never again will I do it. It sucks out your soul.</p>
<p>Internships and Jobs in sales for MetLife, NYLife, Northwestern Mutual, and a lot of trader/stockbroker positions are either you make it or you fail. If you are very driven, work hard, driven and never give up as you cold call for 8-12 hours for 9 months and get luck, you will make great money. The majority of us who can’t commit the time or feel bad for cold calling won’t make it in this profession. </p>
<p>If you do not care about money and want a decent training session, learn how to pitch well, and be more social, its worth a few months for the experience.</p>
<p>Otherwise it is just a waste of time if you are looking to make an hourly wage and just move on.</p>
<p>The hourly compensations is there but only for a limited amount of time. Typically 1-3 months you get paid a wage and afterwards, you are on your own but you can still use the office.</p>
<p>Hi, I’m a freshman right now and I have an interview coming up for northwestern too. It’s pretty hard to find any type of internship so I’m wondering if I should just try this as something to put on my resume? Or is it still largely a waste of time?</p>
<p>I’m in the internship and have been doing it for a year now. I can really say that the people who call it crap, don’t understand the financial services industry. This is entirely fine and it’s definitely not for everyone. It is true at Northwestern you will approach everyone and anyone with a pulse and try to sell them something, but that is true anywhere you go. I know guys who went to work at UBS and Smith Barney and on their first day got shoved into a corner and had the yellow pages thrown at them with a “alright, go to work” attitude. I’ve made decent money doing this internship and currently have around fifty clients to whom I’ve sold insurance and investment products too. In two more years I’ll be a financial advisor and will graduate college with a guaranteed job that boasts one of the best pensions in existence. It’s true it’s all about the life insurance at first, but honestly when you’re starting which do you think people are more likely to trust you with, their equities or their insurance? As time goes on however the clients develop trust with you and the investments come later. Brokers sell life insurance, life agents sell investments etc. It’s not as black and white as it used to be. If you don’t want to sell insurance don’t sign up, but don’t blame the company for it and definitely don’t say it’s crap. It really is a great opportunity for a college kid (I made more money in one month at NW then I did the prior year at Starbucks). It’s a great thing, but not for everyone. Best of luck.</p>
<p>I’m partial to the internship. I did it last summer and didn’t really make a ton of money, but about the same as I would have made at my other part time job. $100 weekly stipend. Word of advice - don’t go to the meeting on Wisconsin if you can help it (it’s expensive). </p>
<p>Pro’s:
Biggest pro - you will absolutely gain interpersonal skills. Overcome fears of dealing with new people. “Sales” skills are beneficial regardless of your career path. I think this has paid of dividends for me, as I’m not a super outgoing person.
Learn tools for networking which help later on
Resume booster (although a non-sales position would be better, if you have the chance)</p>
<p>Con’s:
I hated it
Calling on friends/family to ask for then to meet with you, where you will try to sell/ask for leads
I have family friends who think I’m still in insurance to this day…</p>
<p>Given the choice, would I go back and do it again?
I wouldn’t do it a second time, but the summer internship was useful
Given a different internship (non-sales) I would have taken that
If the decision is to keep your part-time job or take an internship, take the internship.</p>
<p>This internship is completely legitimate. Everyone who says bad things about it just sucked or heard about it from someone who sucked. You learn communication skills and you learn the financial services industry inside and out. You don’t have to know about the industry beforehand – they’re great at training you. They send you to a week of training and then daily training meetings. There is so much support in the office as well. They give you all the resources and it takes work ethic and drive to do well in this internship. For all of those who call this internship “crap,” it’s because you didn’t work hard at it. The office provides a mentor who coaches you through the processes and answers any questions. They realize you may not stick around and convert to full-time, but they are willing to invest a lot of money just training you (sales school, business cards, marketing tools, paying for your insurance exams, etc.) and the skills you learn in this position are transferable to just about any career in business. This is the #1 company in the financial services industry and they have the best sales process. Clients love Northwestern Mutual because it is a financially stable company and it’s not pushy, like Primerica, etc. One last thought… this internship is absolutely nothing like vector or cutco. Those companies are cheap, cheesy, and will do anything to get you to make the sale. Northwestern is all about the process and not the product. If you learn about the company, industry, and pay attention to the training, the products will sell themselves and you’ll end up with a chunk of change, as well as a great line for your resume.</p>
<p>The only people defending this **** internship have 1 posts. Oh hey Northwest Mutual how you guys doing?</p>
<p>I just got accepted to this internship, and it’s good to see this kind of thread still going. I used this same kind of advice when determining whether or not to take the internship at Northwestern, New York Life, or just take extra summer classes.</p>
<p>While it’s true ANYONE can do this internship, it’s going to benefit business majors the most, ESPECIALLY Finance majors. I found a post regarding a Finance major who did the internship, but didn’t like the sales aspect of it, he did it anyway just to have the internship on his resume. He graduated a year later and interviewed with another insurance firm. They were impressed with his knowledge and experience with the internship and he landed an actuarial job for $45,000 a year plus benefits. Not bad for straight out of college. </p>
<p>I’m personally going through with the internship because I plan to be a Financial Advisor one day. CFP, ChFC, CFA, all that. I’ve never had trouble meeting new people and being the life of the party, but this internship will be a great foundation in learning how to communicate with people professionally.</p>
<p>Not only will I eventually have a job I love (being a CFP) Northwestern gives you the time, money, and resources to helping you obtain your goals. I’m going to take advantage of that.</p>
<p>A lot of people can’t look past their hand extended in front of them, and don’t understand that when you go out and get referrals, have more experienced partners help you in the beginning, etc. that yes, you are splitting commissions and they are getting rewards for who should be YOUR clients, you have the think “down the road I AM going to be the experienced rep helping new interns and splitting commissions.”</p>
<p>This is definitely not a job for people who don’t want to help other people and who can’t fully understand and believe in Life Insurance products. </p>
<p>In three to five years new users on college confidential won’t have this condition, but I’m also taking the internship because the economy is CRAP, unemployment is over 9% and part time jobs for young people are impossible to get, so along with experience I’m going to be making at least $1000 over the course of three months. </p>
<p>So, I haven’t even started, I’ve just recently accepted the offer and I’m looking forward to it. If you are looking into this internship, I suggest doing your research and learning everything you can about what you will be in for, ask questions during the interview, and check out glassdoor.com it’s not for everyone, and you shouldn’t do it if you don’t think you can work hard or can’t see the benefits of doing it 3 years 5 years or even 10 years in the future.</p>
<p>I interned at Northwestern for one summer (granted, was in their private securities investment group, not as a broker).</p>
<p>Regarding the specific internship program in question, I have this to say: NWM has a good culture, and if you’re fine with being a salesmen to mostly retail clients, then it’s a good place to be in the long-term and you can make decent bank.</p>
<p>At the end of the day though, if you want to be a broker who makes the mega-dollars by selling equities or debt products to hedge funds, corporate clients, or other institutional investors it’s not where you want to be because that’s not what they do. That said, as an internship, it is a valuable experience if you can speak to it well if you’re only a freshman or sophomore although I think there are better things out there.</p>
<p>And unless you’re interning in the investments group, you’re not going to be building the skillset that lets you become an investment banker, or is viewed as transferable to a job in the rest of finance.</p>
<p>Either way you’re young, it’s good to make some $ for the summer and you’ll have fun. Just keep the other aspects in mind for if you want to stay on.</p>
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