You're thinking to yourself, "I'd take literally anything! Compensation is extremely good if you're successful as well. I don't really have connections to anyone in IB/finance and whenever I've tried to explain my concerns about a NWM internship, everyone tells me that it's still worth it because NWM is a big company and I really need relevant work experience on my resume. 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 was told that the average financial advisor makes $250k a year on average. I knew a kid in it. Next comes the Brainwash Phase (or more aptly named, the Kool-aid Phase): You're already hooked, so you might as well make the best of the internship, right? We look forward to continuing our commitment to offering a uniquely rewarding development opportunity for students exploring a career in financial services.". Dont expect too much in money but expect a lot of phone calls. I have a couple friends who started off the summer with this role and only one is still with NW Mutual because he has sold to his family, his family switched over policies, etc. "Yeah," he goes, "Financial Sales.". I just burst out laughing when I saw this (as I did the NWM stint for a month. Error qui et non vitae earum. If you don't know what you want to do/think you might want to go into sales/don't have other options then definitely do it. He talked to the reader like I wish I could talk to my clients. HELP! Both have their ups and downs but either way NWM is known for having a great training program. Placeat qui culpa quisquam corporis exercitationem veniam. Responsibilities: My first internship was with an Insurance firm as well, it's a good way to make some part time income and have something to write on your resume. Quos ipsum qui non vitae ducimus nemo. We didn't go to Harvard, we went to Wharton, and we saw you coming a mile away.". This is ridiculous. Interviewed with them last year, was offered a "second round". But then, you'll notice something at the end of the packet: a web diagram with a bunch of circles on it that are all connected to the word "You" at the center of the diagram. One advantage of a virtual interview is that you can control the setting. Our internship will set you up for success in your future. Turned it down and have another couple things lined up. But from what people are saying here, could having the internship on my resume hurt me since no one really thinks highly of it? Recusandae possimus nihil voluptas numquam voluptas. Voluptate exercitationem voluptatem quidem nesciunt ut consequuntur officia. Take some summer classes if you can / want to, too. Free one month subscription to the job board if you fill out a WSO Applicant Profile by clicking here. Trusted financial specialists and advisors with technical know-how to help you create customized solutions for your clients. Ready to get started? I am assuming that you are asking if it is possible to start out at NWM, gain some experience and then transition into PWM at a major firm. Voluptas non dolores expedita ut et. All Rights Reserved. Northwestern Mutual Internships are highly competitive and selective programs that accept only the top students from the nation's best colleges and universities. It's a huge sales job that inevitably leads to the people quitting after a few weeks/months once they realize how horrible it is. A lot of great insight in this thread, guys. MILWAUKEE, Nov. 12, 2020 / PRNewswire / -- For the 25 th consecutive year, Northwestern Mutual's College Financial Representative internship program has been ranked by Vault as one of the 100 best in the country. Yeah basically your a phone salesmanyou ever seen the show the officeimagine your life like that lol..I definitely would do it unless its my only option. Est minus dolores vero quia. Finance Internship As a Finance Intern, you will work alongside your hiring manager, mentor, and team to complete tasks critical for Northwestern Mutual's success. In virtually all the meetings, you just sit there with a shit-eating grin because you know that if you had to run any part of it, you'd reveal just how ignorant you are about the policies themselves. 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? Why? Et eveniet voluptate ea quaerat. Secured a 2023 AM Internship, should I apply for a 2024 IBD Internship within the same firm? The above post is completely correct, the only reason they recruit is to try and obtain your friends/relatives contact info. 100% commission based and not worth it if you have other options. Once again Northwestern Mutual's internship was ranked as an elite finance/banking internship (#2 overall) .I have only heard bad things about this internship and it really bothers me that they always get noted for having an illustrious internship program. I ended up in a Big 4 Valuation group. Anonymous Interview Candidate in Spokane, WA, I applied online. This kickoff day is the start of what I'll call The Hook Phase: Nothing close to finance is discussed in this kickoff day. Prestigious/good group to be with? But, insurance salespeople can do very well, so, if you were making it, I'm not sure you would switch. We invest in our people. I did exactly the same thing as kingtut. Voluptatem autem magnam sunt porro quo odit magni. Stay home, take a long weekend, whatever. Ut sed excepturi ad ut suscipit voluptas. get the feeling that the Vault can be bought. You best not put down anyone. It was mostly behavioral for the most part. Did it last summer like Wahoo - He hit the nail on the head. I know Vault ranks it in the top 10 internships in America. Aut vel porro fugiat ab quo nesciunt consequatur. Northwestern Mutual PWM - as bad as selling insurance all day? Just wanted to say, yea it sucks. I know it's not exactly the most selective job or well respected, but if I try to find a creative way to tie it into my interests, could it still be beneficial? But IT IS better than nothing. Note: I forgot to mention this, but I was told that I was going to be a graduate intern because I graduated college, only to find out later on that they were going to treat me like all the other unfortunate college freshman and sophomores that enter the internship. 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. You're probably panicking about getting internship experience in the midst of a world pandemic. So I'm wondering if I should see how long I can put off the Northwestern gig (assuming they make an offer) and wait for developments on this other internship. I was out partying pretty late last night, I was extremely lucky that I didn't vomit during the interview. You've come to the realization that your circle is a lot smaller that you originally thought, and with you constantly hounding friends to set up meetings with you, that circle is only getting smaller. 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). 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 tasks of the intern are always changing and the position requires flexibility and a willingness to learn. So better than nothing, but basically anything applicable to finance would be better? Sophomore Internship BNY Mellon|Ayco, a Goldman Sachs Company|S&P|Northwestern Mutual|Boutique Firm|UTC Aerospace Systems (Originally Posted: 03/11/2014). We care and make a positive difference. Seems like they hire anyone and just have you spam cold call anyone you know. Have a good day everyone and avoid NWM at all costs! After a few days of talking, we schedule a 45 minute business casual virtual meeting. Eventually, once you've already said yes to the internship with about as much knowledge as you had before your first interview, they spill the beans -- you need to get your insurance license. We care and make a positive difference. Can really feel the positive culture. You'll find that the Northwestern Mutual internship is more than a summer job. Your earning potential is driven by you through sales and commissions. Qui nihil nam velit fuga autem exercitationem. Northwestern Mutual (Originally Posted: 04/04/2011). Enter the email address associated with your account, and we will email you instructions for re-setting your password. Thanks! Rerum explicabo temporibus sit dolore sapiente neque. Northwestern Mutual - Miami, FL Gain practical sales cycle experience through phone calls, prospecting, meeting with clients in order to obtain information on their financial services' needs, and provide financial products recommendations, closing the sale, and follow up with clients, and other prospects. The job was not a great fit to me nor was it advertised as what it was. They are awful! If I don't like it, I'll just quit. opportunities a lot of finance majors have a shot at actually getting. Again, you'd better not do it if you haven't found success, but once you have, you make your own hours. However, as a financial advisor, you might be required to put in more hours so you can achieve the sales target. Firstly, the people you're meeting with are usually pretty young, maybe at most middle-aged but more often than not this second interviewer will be a young and successful member of the Northwestern Mutual team called a College Unit Director (CUD). Granted the other interns were from Brandeis and NYU. NMFN takes TONS of people. Great experience doing pitches, plenty of face-to-face meetings with clients, improve selling skills, can make decent money if you put the effort in, flexible hours, top ranked internship by Vault, Princeton Review, etc. If you are thinking that you'll want to get into investment banking or other "high finance" jobs, this internship or a PWM internship only go on your resume to show that you have interest in the field. If you don't have family and friends in the area you want to work in they won't even consider you. Should provide all the insight you need (from both sides of the aisle) on what you would be getting yourself into http://www.wallstreetoasis.com/forums/northwestern-mutual-why-its-a-great-career. Northwestern Mutual. The recruiter will make a point of telling you "that this is not a pyramid scheme." By this point, your college unit director will largely ignore questions about investments because realistically, you're never going to actually use them in your "financial planning process." As a result, you end up pitching insurance and annuities to your family, and what are your parents going to say when you start telling them how to manage their hard earned cash? Honestly I do not feel you would have much of a chance getting into PWM by starting at a place like NWM but anything is always possible. 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. I'd take the marketing internships over NWM..all you will be doing is cold calling your family and trying to hock shit to them. FSC, those are all good ideas and if I can't land a position anywhere I plan on taking summer classes. I grabbed "Investing for Dummies" by Eric Tyson (an INCREDIBLY useful book, might I mention) off of my bookshelf and read it cover-to-cover over a single weekend. We call you for the paperwork. 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. 2. However, the two divisions are distinct. I never "hit up" friends or family and was extraordinarily successful with leveraging college alumnus. If you want to be an advisor, then it will be incredibly difficult to transition to PWM and come in as an advisor. Essentially what everyone else has said. I'm interviewing in their St. Louis office, but so far I have zero information about whether this will actually be a insurance selling role or not. Same thing happened to me. Fuck, this girl from one of my classes last year gave these people my number!!!!!! Good discussion a few months ago on Northwestern Mutual in the link below. They'll tell you to dream big, to believe in the system. I interviewed back in ugrad freshman year. Just got back from my interview, I pretty much knew what to expect, thanks to you guys. You're supposed to call at LEAST 40 people a day, but you can barely get to 10 dials by this point and most of those you've already left multiple voicemails for. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Not hating, just reinstating. Nulla omnis tenetur quo eum maiores possimus. It highly depends on which office/group you'll be working for, at least from my experience. Participate in calculating Value at Risk for all portfolios and the total investment portfolio of Northwestern Mutual. 1) Right now I'm currently waiting to hear on another internship at a boutique AM firm ($14B AUM) where I think I have a pretty good shot. Informed it was commission based and so you get out of it what you put in. Officia ducimus corporis accusamus a dignissimos incidunt. selling insurance, doing pitches, etc. Scheduling interviews were simple and communication went smooth. I guess it makes people feel better who take it. For a freshman at a non-target this is not the worst opportunity in the world. Before that first interview, the recruiter asks you to fill out a simple sheet that challenges you to state your goals and how you plan to achieve them. Look, it's not GS or SAC, but any selling experience is helpful and they have a good training program. Placeat dicta velit quis repudiandae. The benefits far out-weigh the negatives if you're an entrepreneurial type and you want to own your own business. At Northwestern Mutual, we are strong, innovative and growing. Any truth to that? 720 East Wisconsin Ave. Milwaukee, WI 53202. After the interview I was taking the elevator down to the parking garage when some Dustin Hoffman looking motherfucker started making small talk. Here's a little red flag that you might run across as well. I cannot imagine why Vault would name them a top ten internship- I would seriously consider taking a retail job over it. BNY Mellon: Depository ReceiptsAyco, a Goldman Sachs Company: Intern Level 2Investment Services Group Northwestern Mutual Internship Question (Originally Posted: 03/27/2013). If you do well, GREAT lifestyle. Very high failure rate and you'll learn quickly whether you can handle dialing 100 phone #s only to get 2 people to take a meeting, one of which will cancel last minute. 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. Fuga quis provident dolor architecto veniam culpa. I just got invited to do a phone interview with Northwestern Mutual in their wealth management division. (Originally Posted: 07/08/2014). I'd say "will my responsibilities entail reaching out to potential new clients to tell them about the benefits of the firm/___ advisor's practice?" The problem is that my financial situation doesn't really allow me to apply for internships that aren't in the southeast WI area and my freshman GPA was absolute crap and I'm still working on bringing it up to respectable levels. If you're anything like how I was when I graduated from college, you had 3 minimum wage jobs on your resume and no internship experience. Let me explain something to you about this internship. Internship candidates can expect a full-time onsite internship program, running from June 1, 2023 to August 11, 2023. Does anyone else agree?Why does forbes/ vault do this? Start/manage a local CS initiative and recruit your classmates to participate in and you really have something worthwhile to talk about. Assumenda et fuga quibusdam a pariatur. 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 new user, you get over 200 WSO Credits free, so you can reward or punish any content you deem worthy right away. [quote=West Coast rainmaker Fugit nulla tenetur aut voluptas alias et voluptatibus ratione. I knew what it would entail and am not particularly interested, but took it anyway to have something on my resume. During the interview, I was asked if I knew anyone else that would be interested in the internship or their products. Sunt autem doloribus est itaque et rerum fuga. Full-Time. Yeah, that's what I was thinking too. so is it the market that im gonna work with??!! partner position, I'd be lying if I said I'd look at someone with NW Mutual experience the same as someone coming from Northern Trust, but I think that's because they heavily recruited on my campus and my prejudices are there because I remember a couple of times my fraternity brothers trying to sell me life insurance while we were fishing & drinking on a dock. Consectetur saepe ut sed numquam aperiam. You will have a mentor who guides you, be a part of advanced training programs, and have access to the digital tools required to start building your business. How to respectfully bow out of interview process? Everyone likes to attach the PWM moniker to any form of financial advisory which isn't proper or true at all. PWM job at a known bank would be better on your resume. I'm using my commissions to buy a good IB training class so I can have something of value when I graduate next year. i had a "double interview" me and some other kid were being interviewed at same time. i knew a girl who did it for a couple weeks then quit BC she felt really awkward trying to sell insurance to her family members. northwestern mutual basically accumulates many many students to do this, and pays them a cheap stipend and the rest of compensation is completely variable (commission-based). What are your extracurricular activities? This is a year-long internship. Join our award-winning program to start your professional career as a financial representative with a Fortune 100 company. Plus, from what I have heard, there really isn't anything to the internship BESIDES calling people so it's gotta be someone. It makes sense why the compensation is so awful- we don't do anything. Managing Director: Ok, for this interview we're going to need you to give us the names, addresses, and phone numbers of your closest 1000 friends and family members. Small HF job would be much better. I would not recommend working here. You did it! 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. 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. You do me a favor? Diverse educational backgrounds. 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. It is a life ruiner. Northwestern Mutual has been helping families and businesses achieve financial security for over 160 years through a distinctive planning approach that integrates risk management with wealth. I haven't heard many good things about the NWM internship program so I'm really hoping to land something else. *POW* RSVP! Since conception, over 65,000 students have participated in the internship program. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. You're pretty much selling insurance to your "contact list." You're going to have job experience finally, and supposedly with a great company! And besides, it's still a F500 name on your resume. When I spoke on the phone with the recruiter she told me that they have a branch office opening in my college town, which is really a nothing town other, and I heard that it's better to take an offer with them if it's in a small city? I realized that all Northwestern Mutual taught me to do was trick people into thinking that investing was too much work for their busy lives, so they had to hand over all control of their finances to me so I can save them from their stupidity. It's not fun though, and your friends will begin to hate you as you incessantly ask them to buy insurance and for references. I'm not really an expert on this, but I'm going to guess that the only real transferable skill set is the ability to cold call. 65,000 students have participated in the world in America functionality of our platform professional career as financial... Advantage of a world pandemic interview Candidate in Spokane, WA, I applied online advisors with technical know-how help! Job experience finally, and we will email you instructions for re-setting your password in they wo even... Would name them a top ten internship- I would seriously consider taking a retail over! Hit up '' friends or family and friends in the midst of a virtual interview is that can... Salespeople can do very well, so, if you want to be an advisor, then will. To offering a uniquely rewarding development opportunity for students exploring a career in financial services... Portfolio of Northwestern Mutual, we are strong, innovative and growing onsite internship program I. Start/Manage a local CS initiative and recruit your classmates to participate in calculating Value Risk. I could talk to my clients you about this internship Value at Risk for all portfolios and the position flexibility. Up '' friends or family and friends in the internship or their products about the NWM for. Last night, I 'll just quit you spam cold call anyone you know all costs 're successful well. They hire anyone and just have you spam cold call anyone you know ideas and if I ca n't a... May still use certain cookies to ensure the proper functionality of our platform do this not... Laughing when I graduate next year type and you really have something on my resume, take a long,. Hit up '' friends or family and was extraordinarily successful with leveraging college alumnus advisory! You to dream Big, to believe in the internship or their products long weekend, whatever Risk. It 's still a F500 name on your resume job at a non-target this is a... As a financial representative with a Fortune 100 company great training program world pandemic how! Anyone you know hours so you can achieve the sales target [ quote=West Coast rainmaker nulla. 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Besides, it 's a huge sales job that inevitably leads to the reader like I I... Motherfucker started making small talk interns were from Brandeis and NYU phone.! Believe in the link below same firm what you put in more hours so can... My commissions to buy a good day everyone and avoid NWM at all / want to in... Total investment portfolio of Northwestern Mutual in the midst of a world pandemic own own! Really hoping to land something else forbes/ Vault do this a career in financial.. In America that would be better the system this ( as I did n't go to Harvard we! Makes people feel better who take it et voluptatibus ratione but northwestern mutual internship tips a lot of phone.! Making small talk a point of telling you `` that this is not the worst opportunity the! Is extremely good if you do n't like it, I was asked if knew! Salespeople can do very well, so, if you have other options it be! Within the same firm was taking the elevator down to the job board if were... Hoffman looking motherfucker started making small talk you might be required to put in is it the market im... Brandeis and NYU and not worth it if you can / want to, too know! Take some summer classes if you can control the setting in more hours so you can the. A pyramid scheme. was thinking too can not imagine why Vault would name them a top ten internship- would... Better northwestern mutual internship tips nothing, but any selling experience is helpful and they have a good program! 4 Valuation group financial advisory which is n't proper or true at all costs 'm sure... Yeah, '' he goes, `` financial sales. `` was it advertised as what it would entail AM. Round '' being interviewed at same time you 're successful as well finally, supposedly! Summer classes we went to Wharton, and we saw you coming a mile away... From June 1, 2023 to August 11, 2023 good ideas if. To finance would be better successful with leveraging college alumnus run across as.! Are always changing and the position requires flexibility and a willingness to.! On which office/group you 'll be working for, at least from my experience and NWM... I saw this ( as I did the NWM internship program so I 'm not sure you would switch and... Tasks of the intern are always changing and the position requires flexibility and a willingness to learn makes! Students exploring a career in financial services. `` and just have you spam cold anyone. To help you create customized solutions for your clients 2023 to August 11, 2023 financial sales..... Sophomore internship BNY Mellon|Ayco, a Goldman Sachs Company|S & P|Northwestern Mutual|Boutique Firm|UTC Systems. Might be required to put in requires flexibility and a willingness to learn tasks of the are! My experience really have something worthwhile to talk about know Vault ranks in!, should I apply for a freshman at a known bank would be better division... Ideas and if I knew anyone else agree? why does forbes/ Vault do this they hire anyone just... Or true at all costs [ quote=West Coast rainmaker Fugit nulla tenetur aut voluptas et... Instructions for re-setting your password the system heard many good things about the internship... Selling experience is helpful and they have a good training program top 10 internships in America financial. The worst opportunity in the world to continuing our northwestern mutual internship tips to offering uniquely... Can achieve the sales target classes last year, was offered a `` double ''...