Northwestern Mutual vs Wellington
My younger buddy is looking for an advice here. He had final rounds at BB but didn't get the offer. He's looking into boutiques and couple finance related companies for an internship. He has an offer from Northwestern Mutual and Wellington.
He wants to get into S&T (his primary goal), possibly into I-banking afterwards, which internship would be a better resume builder for the next year around. He's only a sophomore and He has already done a couple internships with ML for GWM, and JH COHN doing solely financial services audit/ transaction services.
I told him NWM if he wants to get in to S&T but I don't know how prestgious of a company NWM really is, what do you guys think? I wanna give him a good advice and I need help on this one.
is he a financial advisor intern making cold calls and selling life insurance for NWM compared to working as an investment analyst at Wellington?
If its investing oriented work, both opportunities would be fine.
The world has changed. And we must change with it.
It depends on what his role will be for both places. But if its the same role, I probably will pick wellington based on the following:
NWM= retail Wellington = asset management
Every single sophomore I've ever heard of that gets an internship at NWM is in their cold calling department and is paid on commission. I know kids that have done it, and they tell me it's an absolute joke, no real relevance to finance.
I don't know anything about the Wellington experience, but I do know that given his past experience, NWM would be a step down (if it is what I think it is).
An internship at NM is the hot route to a career in used car sales or selling steak knives door-to-door. Their "internship" is nothing more than you cold calling your relatives / friends and selling them insurance and annuities. As somebody mentioned, it is entirely commission based and a job that could be done by a high school graduate (or less).
Please tell your friend to scratch their "offer" off his list.
Unless his NWM internship is in the Private Securities or Investment Groups like mine was a few summers back, my guess would be Wellington.
I've been contacted recently by NWM, I told the lady at the career fair clearly that I wanted something investing related so I think she marked down my resume for that. They are going to call me back tomorrow and I'm going to make it clear to them that I don't want to do an internship in selling stuff, but they may already know that.
So Warhawk_1, what type of internship did you do with them and what material did it involve? I imagine it is the same thing that I want from an internship there.
Yeah, I made the mistake of talking to NWM at my school's career fair (had no idea what they did at the time), and they then proceeded to call me almost every week for the next month and a half.... so they must be desperate for interns. The brochures they gave me did make it sound like they had a decent internship program though; their program is apparently the "top ranked internship" or something. So I suppose its not too bad if you're a sophomore and can't get anything else finance related.
I'm actually a junior, I made it clear to the career fair lady that I wanted investment so we'll see how it turns out.
I'm not going to sell financial products so I'll make that clear to them.
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