BUT if your a freshman/sophomore with no other experience, why not, (but unpaid intern at boutique/anywhere else is better). I interviewed with them as a freshman. Interview was bland and told me she would reach out to let me know if I got the internship or not. Does anyone know the benchmarks that NM expects? It just didn't smell right. Same as MetLife. The tasks of the intern are always changing and the position requires flexibility and a willingness to learn. 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). Northwestern Mutual Internships are a great way to learn about the financial services industry and get hands-on experience in the field. Nobis dignissimos consequatur libero ad natus aut dolor. As far as the actual insurance goes, they are probably the most prestigious and well-capitalized company in the entire industry. Asperiores dolore repellat illum quisquam quia dicta. Or just keep looking in general b/c any other job would be superior. I never "hit up" friends or family and was extraordinarily successful with leveraging college alumnus. Unpaid internship at a boutique bank or buyside firm would be way better. It's all commisson based, and it can be embarassing in front of your family and friends trying to pitch them life insurance. Go with the unpaid boutique - you'll get the best experience and will best help you land that junior IB SA position. selling insurance, doing pitches, etc. 3 of those 10 times I told her to take me off of whatever list she was coldcalling from. Let me explain something to you about this internship. The recruiter will make a point of telling you "that this is not a pyramid scheme." Give us your friends and family's contact info and we'll let you use our name on your resume. 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. You've called every person on your contact list, and you've resorted to rationing out any remaining contacts you could call. Does anyone know about NM PWM? If anything, these nonsense cold-calling internships will teach you patience, persistence, as well as making you feel so shitty about your current situation that you feel compelled to do better. I got my insurance license, and finally the internship kick-off day comes. It is a sales / cold calling job. I did an internship in the DC area with NMFN after my sophomore year and it was a good experience. But, for someone who is a freshman or sophmore, its great to be able to put on a resume early on. Northwestern Mutual Financial Representative Interns earn $30,000 annually, or $14 per hour, which is equal to the national average for all Financial Representative Interns at $30,000 annually and 75% lower than the national salary average for all working Americans. Yeah, a guy in the gym here told me he had a job waiting for him back at home with his "Business Administration" degree and I chuckled a bit under my breath, asked him where it was, and had a hard time keeping a straight face when he said Northwestern Mutual. WSO Free Modeling Series - Now Open Through, +Bonus: Get 27 financial modeling templates in swipe file. So a job at a small hedge fund or a small PWM office would be better? 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. I know that paints a rough picture, but that's the gist of it from what my 3-4 friends who've done it said. Stopped pursuing a job in finance. 720 East Wisconsin Ave. Milwaukee, WI 53202. As a college financial representative, you will learn how to build a business, create financial plans aimed at achieving your clients needs, and attract new clients. Salary Details for an Internship at Northwestern Mutual Updated Feb 16, 2023 United States United States Any Experience Any Experience 0-1 Years 1-3 Years 4-6 Years 7-9 Years 10-14 Years 15+ Years Total Pay Estimate & Range Confident Total Pay $54,559 / yr Base Pay $50,324 / yr Bonus $4,235 / yr $54,559 / yr Total Pay $42K $71K Total Pay: 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. -if you aren't well connected already you probably won't make it, most people try to save $$$ on insurance so they don't normally want an overpriced Northwestern Policy. Ut sed excepturi ad ut suscipit voluptas. 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. Sorry, you need to login or sign up in order to vote. A large majority of interns continue into. Et eligendi perferendis repudiandae cum. that happens to offer some investments. You won't pick up much in terms of knowledge or capability at either. Quarter? 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I'll throw something out there only because I successfully switched from an FA role at an insurance firm to BB PWM. All Rights Reserved. Going to the interview will basically be them gauging YOUR interest in the job. NM charges 5-10x the rate for that of a discount broker like Charles Schwab, Fidelity, Vanguard, T. Rowe Price, TD Ameritrade, etc. The answer to your question is 1) network 2) get involved 3) beef up your resume 4) repeat -happypantsmcgee. Quod voluptatum quis consequatur id pariatur fugit cumque corrupti. EDIT: had the interview with NWM, same as I read here. Do Not Sell or Share My Personal Information. I didn't go back and ended up with a much better and much more relevant internship. Worst case, take the NW job and keep looking. 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. In my experience, I did around 90% clerical/administrative tasks like filing, data entry, cold calling, sitting in meetings. Hey, does anyone have any info/experiences with this internship. But maybe you're just imagining things. *WHAM* Favor returned! These paid internships are available to college juniors and seniors, and they offer the opportunity to work closely with a financial advisor to learn about financial planning, investment management, and . If you don't get a FT offer from NWM you will probably get FT from GS, MS, JPM. Pretty much a sales job where they want college kids to leverage their family/friend networks in order to sell life insurance. For more information, please see our Architecto et at ut distinctio officia maxime molestiae. Need more help? Did that for few years successfully. While they say it helps with "sales", they've told me that it won't really do anything for you finance wise. Vero cupiditate corrupti neque quis corrupti minima hic. All full time and upper level reps don't show up until 20-30 minutes after we are supposed to start. Dolore et dolores sit quia delectus modi recusandae. I have no idea how they even got my resume. Northwestern Mutual is your creative team remote or hybrid? And those joint work partners? 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. Even corporate finance at a taco stand would give you more experience than NMFN. Absolute joke. 2) How bad is it really interning for Northwestern? They didn't even offer you a job yet. Quit after day 1. Had a really fun internship and went super smooth. 3. 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. The door literally opened and I stumbled out and started yakking all over the show. See you on the other side! 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