or Want to Sign up with your social account? I do think their practices with college students are shady, but there are plenty of pyramid schemes college kids get involved in so this is not the worst thing for a college kid, not by a long shot. Perspiciatis ex sequi sit necessitatibus velit fugiat. Non voluptatibus et est dolor similique aperiam. You said you had a bunch of community service, what about taking a more active role in organizing some CS or recruiting people to do CS? NM charges 5-10x the rate for that of a discount broker like Charles Schwab, Fidelity, Vanguard, T. Rowe Price, TD Ameritrade, etc. and Its one of the TOP TEN internships!!! To be honest, I didn't even know they had a wealth management division. I will probably go to the interview just to see if I can do that, but otherwise I don't plan on taking it. get the feeling that the Vault can be bought. The staff seem nice and super helpful. We offer an award-winning training program, mentorship, and I have a close friend who is ~30 and making big $ at Northwestern. They also said the president of my school had good things to say about me. It's all commisson based, and it can be embarassing in front of your family and friends trying to pitch them life insurance. 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. LOL. I interviewed with them and walked out of interview because I am not willing to pitch insurance to my friends and family. A lot of great insight in this thread, guys. Accept the offer and feel free to renege. Nothing against HLHZ, but I def. Needless to say I declined the second interview. Pros Anyway, I'm a freshman at the University of Non-Targets, and I got a call today from Northwestern Mutual's finance department, and the lady I spoke to wanted to bring me in for an interview this Friday for a summer internship. My friend cold called like a champ (in a good economy) and was a top performer in NYC for his rookie class. or Want to Sign up with your social account? Join our award-winning program to start your professional career as a financial representative with a Fortune 100 company. There's tons of money to be made in the retail markets. Northwestern Mutual is well known and respected, but as an insurance brokerage. 2005-2023 Wall Street Oasis. best to get shit like that out of the way early. 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. Omnis sit perspiciatis omnis atque sit quos. Wealth management is an all encompassing term. Here's a little red flag that you might run across as well. An internship at Northwestern Mutual gives you valuable, real-world work experience to prepare you for a career at Northwestern Mutual or elsewhere while building on your classroom learning. It highly depends on which office/group you'll be working for, at least from my experience. Northwestern Mutual Internship Program Ranks Among Nation's Best, Media Relations, 800-323-7033, mediarelations@northwesternmutual.com. Doloribus ut dolorem ut quos cum. Both have their ups and downs but either way NWM is known for having a great training program. You could do a lot worse for a freshmen year SA program. You learn this language for about a week, and you then begin calling all your family and friends about this "awesome opportunity I have through Northwestern Mutual!" A coach who meets with you regularly to help evaluate and fine-tune your efforts for greatest results. 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! Copyright 2023 The Northwestern Mutual Life Insurance Company, Milwaukee, WI. Yep, that's my feelings towards this company as well and definitely not PWM as far as I'm concerned, just like he ^ mentioned NWM internship is better than nothing. Do not test my politeness. As I've posted before, a close friend works for NM and makes more than most on Wall St. (for his age). They must be the real deal! This internship opportunity is offered in Milwaukee, WI and Franklin, WI. I worked with some great people and it is a fantastic way to build a network of contacts for the future. It can be a great career if you have 1) a good network and/or 2) very solid inter-personal skills. What a chop shop. I did this internship last summer and was sold on the career about a month and a half after I started. 2. It was mostly behavioral for the most part. Had a really fun internship and went super smooth. I was just looking on this, and I'm a former Northwestern Mutual Intern. Quia dignissimos nulla id. Quit after day 1. If you have nothing else lined up, sure take it, but after having a first round interview there a few years back, I would never interview there again. There is a total of 3 interviews. Does anyone know about NM PWM? However, the two divisions are distinct. As a financial security company, Northwestern Mutual advisors consult with clients on wealth and asset income protection, retirement planning, investments, financial planning, estate planning and family trusts, education planning, and business planning. (Originally Posted: 05/11/2012). Northwestern mutual basically only pays the interns based on commissions. It's been my observation that insurance companies are especially bad with proprietary products (State Farm selling you State Farm mutual funds, and they can't offer anything else), so most wirehouses lump NW Mutual in with that stigma. It should put you in good position for analyst roles during OCR. Lets be honest selling insurance is not as good as working at a BB firm. They have a bad rep because they recruit college kids to cold call for them, and the general perception of them by wirehouse brokers is all they have is proprietary product and no "platform." I still don't have any solid summer plans yet and the only interviews I have right now are for NWM, a marketing intern position with a small start-up, and a social media/marketing intern with another small start-up. So a job at a small hedge fund or a small PWM office would be better? Prestigious/good group to be with? You've messaged people on Facebook, Twitter, Instagram, Snapchat, LinkedIn -- pretty much anything to get just a few more meetings set for the week, but no one ever answers back. You said you had a current internship, what about extending that? I think that would look a lot better than the internship. The recruiter will make a point of telling you "that this is not a pyramid scheme." I mean look at the good employee reviews on Glassdoor and Indeed for Northwestern Mutual!". 2) Work as an FA for one of the major firms (UBS, MS, etc); build a major book of business catering to typical PWM clients and then transition over to the PWM channel. After the interview I was taking the elevator down to the parking garage when some Dustin Hoffman looking motherfucker started making small talk. But what does a Financial Representative at the Northwestern Mutual Financial Network do? Had an internship with them last summer. As achieving financial security becomes more complex for people, a few simple truths arebecoming even more powerful. I guess I will go in next week anyway just to get my first exposure to an interview. Is it a position which can add experience to my resume for IB recruiting? This is a year-long internship. I was moments away from accepting an offer the summer going into my junior year, but the entire process didn't feel right. PS - This is my problem with the Vault guides and rankings. I interviewed at Northwestern Mutual (Columbia, MD) in Oct 2022. 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. Ready to get started? Northwestern Mutual. I am currently a sophomore at a state school. But that's not how this internship works; it's an active brainwashing scheme. Like your colleagues in the network office, you have ready access to the resources of the Northwestern Mutual, including: Vault partners with thousands of colleges, universities and academic institutions to provide students with FREE access to our premium content. After agreeing I went on WSO and started reading about all the scam and horror stories from people who've interned with them. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling. As a part of the intern community, you can also earn the chance to attend exclusive events that aid in your professional growth and development. One who did it in his Junior year went on to S&T at Citi, and another 2 I think IB at DB. Does anyone else agree?Why does forbes/ vault do this? That said, it's not a bad company, but it's for a certain type of person (I am NOT that type of person). So you sink all your time into studying for the exam and partake in all the prep courses. I even straight up hardballed him next; "So you're selling insurance!?" As for reputation, NMFN is very highly regarded within the industry. Libero laudantium quod neque nostrum. In this phase, you'll hear from all kinds of successful advisors about their stories and reasons for becoming an advisor through NM. Another is a personality worksheet where they test if you would be a fit for the company and where your personality lies within their tests, Anonymous Interview Candidate in Columbia, MD, I applied through a recruiter. http://www.northwesternmutual.com/career-opportunities/financial-repres. 2005-2023 Wall Street Oasis. The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee. I mean they're wearing an NM pullover over a dress shirt and tie for goodness sake! Northwestern Mutual is client-centric. If you want to be an advisor, then it will be incredibly difficult to transition to PWM and come in as an advisor. Cons: Tough industry, hard sell because people don't see life insurance as a need, only a few skills translate to IB/S&T. There is nothing entrepreneurial about it. Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company and its So better than nothing, but basically anything applicable to finance would be better? I know people in BB IBD and in PE that did this as their first job. Northwestern Mutual Internships are a great way to learn about the financial services industry and get hands-on experience in the field. 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. I am in a similar position as the previous poster (sophomore, non-target), but I am currently doing some corporate finance for a fortunte 500 as a business/financial analyst. Its not all about pay at this point. If you do well, GREAT lifestyle. Land More Interviews | Detailed Bullet Edits | Proven Process, Land More Offers | 1,000+ Mentors | Global Team, Map Your Path | 1,000+ Mentors | Global Team, For Employers | Flat Fee or Commission Available, Build Your CV | Earn Free Courses | Join the WSO Team | Remote/Flex, "We're not lawyers, we're investment bankers. If you're me, you may even be told that you're such a special applicant they're going to give you a private 2nd interview, rather than the group interviews they usually perform at this point in the process (to this day, I'm aware of no other interns in my class who had to go through a group interview, so it's very possible the recruiter just flat out lied -- a concept you'll get used to as the internship progresses). Northwestern Mutual provides personalized financial services and offers inventive solutions for individuals and business's insurance and financial needs. Nemo minus ratione illo. If you have the contacts and don't mind selling to your loved ones by all means do it, but only if you absolutely want to transition into PWM maybe 5-10 years down the line. No matter where your career is headed, this internship will give you the foundational knowledge to succeed. They asked questions about my prior job history and what I did in school (I was in college at the time), and they also asked what I thought about the company and what interested me about it/their website (which they showed me portions of during the interview while we were talking about the company), Get started with your Free Employer Profile, The Ultimate Job Interview Preparation Guide. Lives, New Clients, Premium? The company offers interns experience running their own financial-advising practice with trainers and mentors to guide them. Many fortune 500 c-level executives use their products as do many extremely wealthy families. I know Vault ranks it in the top 10 internships in America. You have to decide if you want to be an advisor. I did not have any relevant finance experience to speak of, so I was considered taking the opportunity for quite a bit. If you want to just be in PWM and come in at the bottom (ish) level like an analyst, then you can do it. I ended up in a Big 4 Valuation group. This will give the impression that NM cares about your aspirations and is giving you the bargaining power for a salary of your choosing and the financial security to pursue your dreams and aspirations. Northwestern Mutual internship before junior year? Northwestern Mutual has an internship opportunity as a Financial Representative where you can work with other people and help customers plan for retirement. I know this conversation was a while ago, but the threads I'm reading on here are worrying me. Opens the Fishbowl by Glassdoor site in a new window. Ut ea maxime odio itaque minima nihil itaque consequuntur. No reputable company respects the internship and you could spend the time learning new skills like excel/VBA, python, stats, or R. 12 Just reading the internship posting makes me think it's a pain in the ass. 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. The difficult part about the internship is the 100% commission compensation structure (aside from the $100 per week stipend). That's what NW Mutual teaches apparently, but it put a bad taste in my mouth a long time ago. 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