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Northwestern Mutual Internship Questions

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Before you tell me how awful this is, I obviously understand that I am selling to my friends and family in most cases and NM is simply using me. However, I am only 18 going into summer between my freshman and sophomore year at college. I want to eventually work in international banking however I saw this as a better way to spend my summer than getting rejected by Bank of America and JP Morgan then cleaning off boats. Everybody seems to say that employers lose respect for people that take these jobs, but I have already learned a lot about insurance, 401k's, IRA's in just getting my license. Somehow working a minimum wage bull shit job at a boat dealership where I learn how to apply bleach while avoiding the urge to pour it down my throat is more RESPECTABLE for to prospective employers? I am taking this internship solely for the experience to add on to my relatively empty college resume. Then, maybe I can get an internship at a bank in NYC where my school is next summer? Is this really a bad plan? And instead of calling me a sucker, please explain why it is not. Remember I am barely an adult at this point so I am more than happy to fill gaps in my understanding.

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Unfortunately if you look at insurance sales that isn't the case yet but hopefully some day.

dhodson (Apr. 26, 2017 @ 6:27p) |

This. Work a shitty job with young people then drink beers with them. Watch Red Oaks for some inspiration.

elektronic (Apr. 27, 2017 @ 10:37a) |

I say go for it. It's one step closer to finance than a similar paying summer job at McDonalds. Just make a conscious ch... (more)

TravelerMSY (Apr. 27, 2017 @ 6:36p) |

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who buys insurance from a teenager? lol

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Friends and family

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If you really want to do the NM work, I'm not sure why you would look for permission from strangers. It sounds like you have a fair understanding of what the job is. But one of your big selling points seems to be that it's better than a specific crummy job that you really don't want to do. I'm sure there are a lot of alternatives. You could load up on summer courses that will count toward your degree. That would get you finished sooner and probably cheaper.

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Your post includes question marks, but I am not sure you are actually asking a question.

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I say take the internship. You'll never know if this business is for you unless you try.

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NM + Amway = Winning!

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cashmoneysamuels said:   Before you tell me how awful this is, I obviously understand that I am selling to my friends and family in most cases and NM is simply using me. However, I am only 18 going into summer between my freshman and sophomore year at college. I want to eventually work in international banking however I saw this as a better way to spend my summer than getting rejected by Bank of America and JP Morgan then cleaning off boats. Everybody seems to say that employers lose respect for people that take these jobs, but I have already learned a lot about insurance, 401k's, IRA's in just getting my license. Somehow working a minimum wage bull shit job at a boat dealership where I learn how to apply bleach while avoiding the urge to pour it down my throat is more RESPECTABLE for to prospective employers? I am taking this internship solely for the experience to add on to my relatively empty college resume. Then, maybe I can get an internship at a bank in NYC where my school is next summer? Is this really a bad plan? And instead of calling me a sucker, please explain why it is not. Remember I am barely an adult at this point so I am more than happy to fill gaps in my understanding.


Are you going to actually make any money whatsoever?

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You have lofty plans to be in Int'l Banking however working in the Int'l Banking requires Masters Degree and you're way away from it at the moment.  You'll have plenty of time for internships between now and completing the Masters.  So, for now, I'd just take whatever job to fill the summer or go to summer school. 

By the way, I love your attitude of cleaning boats as a sh!tty job !  Kids now a days.  /sarcasm   

Employers have way more respect for those took the menial jobs and eventually made it to the top. 

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Why are there only two choices: NM or Boat Cleaning? 

Apply for more internships, not just BOA and Chase. Apply to everything around you - you might be 100 applications in before you get a response but there are opportunities out there which will allow you to learn about finance without having to hassle your friends and family.

Also remember the long game - you might need to ask your friends and family for opportunities or favors in the future. You don't want their opinions of you soured by memories of you asking them to buy some shitty insurance. If you were my nephew and you came to me hassling me to buy your crappy insurance I probably would avoid your phone calls in the future.

Someone else in the thread suggested taking courses. If you don't find any internships and are not willing to do unpaid ones then this option is also significantly better. Go to a Community College and take some courses for cheap and make progress towards your degree.

You already learned more from getting the license than you will peddling the NM insurance. Best case scenario you learn a little about sales but even then if you get any sales it will be pity sales from family who feel like they have to help you out.
 

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Think of your 2 opportunities (though I agree, there are other opportunities if you're willing to look for them) as long-term career networking.  If you planned on working in insurance and investments (oddly NM also sees insurance as an investment) I would say go for the NM internship...but that's not really your career goal.  Cleaning boats may be shitty or difficult work, but you're spending your summer around the water and you could potentially meet some really great long term contacts (wealthy people own boats, wealthy people also are typically great business contacts).  You might meet girls.  At NM, you will almost certainly spend your summer days calling people you haven't talked to in a long time with the sole reason for your call being to put them in front of a pushy salesman--that's not network building, that's network destroying!!  You will probably get a couple of relatives willing to buy some insurance or annuities--but those products likely will not be in their best interest and they're only doing it because they think they're helping you out, long term they are likely to resent you when they figure out that they're locked in to that annuity for 7 years, or that the assumptions they bought the insurance based on aren't the reality of the current market, so now their policy is lapsing.  The NM guy doesn't care about your network, only about getting immediate sales and putting money in his pocket.

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Not scamming your family and friends would allow you to retain more self-respect.

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If you have boating acumen. I'd think being a yacht salesman for a summer would be more beneficial for international banking. Rather than dealing with the hoi polloi of friends & family. You might get lucky too & sell one. That'd rock your world 5% on a 5 million dollar yacht.

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Every opportunity, good or not, can bring you other opportunities.

You have to think positive. What if one of those boat owners gets to know, see you as smart and a hard worker? Maybe they even run a bank.

Stranger things happen.

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elfrozo said:   Why are there only two choices: NM or Boat Cleaning? 

Apply for more internships, not just BOA and Chase. Apply to everything around you - you might be 100 applications in before you get a response but there are opportunities out there which will allow you to learn about finance without having to hassle your friends and family.

Also remember the long game - you might need to ask your friends and family for opportunities or favors in the future. You don't want their opinions of you soured by memories of you asking them to buy some shitty insurance. If you were my nephew and you came to me hassling me to buy your crappy insurance I probably would avoid your phone calls in the future.

Someone else in the thread suggested taking courses. If you don't find any internships and are not willing to do unpaid ones then this option is also significantly better. Go to a Community College and take some courses for cheap and make progress towards your degree.

You already learned more from getting the license than you will peddling the NM insurance. Best case scenario you learn a little about sales but even then if you get any sales it will be pity sales from family who feel like they have to help you out.

  It's too late to get top internships this summer.

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zapjb said:   If you have boating acumen. I'd think being a yacht salesman for a summer would be more beneficial for international banking. Rather than dealing with the hoi polloi of friends & family. You might get lucky too & sell one. That'd rock your world 5% on a 5 million dollar yacht.
  
Yeah and if yacht salesman doesn't pan out you can also get your realtors license and sell penthouses in manhattan or maybe just work as a car salesman for the local Bentley lot.



 

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So you clearly don't value family and friends

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ketapufa said:   who buys insurance from a teenager? lol
  They won't know he's a teenager over the phone.

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Most kids don't get jobs in their field after their first year in college.  Go home and get a job that keeps you in the sun or around pretty girls or whatever else you might enjoy.  When you get back to school, start working on getting a "real" job for next summer.  Trust me, you won't be too far behind if you aren't interning on Wall Street at 18 or 19.

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cashmoneysamuels said:   Friends and family
  it's 2017.  at this point, even your friends/family know NM is a scam.  they'll laugh at your pitch, and make you a butt of jokes for many years to come.

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Unfortunately if you look at insurance sales that isn't the case yet but hopefully some day.

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dcwilbur said:   Most kids don't get jobs in their field after their first year in college.  Go home and get a job that keeps you in the sun or around pretty girls or whatever else you might enjoy.  When you get back to school, start working on getting a "real" job for next summer.  Trust me, you won't be too far behind if you aren't interning on Wall Street at 18 or 19.

This. Work a shitty job with young people then drink beers with them. Watch Red Oaks for some inspiration.

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I say go for it. It's one step closer to finance than a similar paying summer job at McDonalds. Just make a conscious choice. Either do it for the experience, or the money. Optimize one or the other.

Dialing for retail dollars might even change your mind about what you want to do And if they sponsor you for licenses, you'll always have that to fall back on.

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