Considering a Career W/ MM

[tentex]

I have interviewed 2 times with Mass Mutual and will be having drinks with the boss this week with a 3rd interview the following week. I am currently a personal trainer so I have a little experience in sales, but my current job provides no benefits, insurance, paid time off, etc.

I have been told to interview with everyone that I can. It was suggested to me that I should interview with New York Life as well. I have been told repeatedly that my first year will be very hard. I don't mind hard work, but I would like to get as much information as possible about my first year, what I should expect, and how to get started on the right foot. If anyone has any info, links, advice, etc that they think would help...I would really appreciate it.

Thanks.

 

[xrac]

MM is a great company. However, if I were you I would interview with MM, NWML, NYL, Guardian, and Metlife before I chose a company. See who offers the best training, best local office, and who lost closely aligns with the market you feel comfortable working.

 

[tentex]

MM is a great company. However, if I were you I would interview with MM, NWML, NYL, Guardian, and Metlife before I chose a company. See who offers the best training, best local office, and who lost closely aligns with the market you feel comfortable working.

I am so far into the interviewing process now with MM...how do I go and interview with these other companies before I have to make a decision on Mass?

 

[DHK]

You just do it... and don't be a wimp to Mass.

Remember that NONE of these companies will be offering you any kind of salary. (Well, except for Metlife for a few weeks.)

This isn't a JOB. It's a career, a business and a lifestyle. You need to go where you'll feel the most comfortable.

My own notes on these companies:

New York Life: GREAT basic sales training. Top rankings with MDRT for over 50 years. (Probably requires membership once you're qualified... so I would take that with a grain of salt.)

MassMutual: Allows you to use the LEAP system (wait at least 1 year. It's expensive and has a steep learning curve). SAYS they advocate the One Card System... but probably executed poorly in the agency. SEMI-CAPTIVE - meaning that you can still sell other company's products... but your main focus will be to sell MassMutual products (of course).

Metlife: More of a "financial planning" firm. Requires securities licenses to work with them. (Well, that was my impression.)

Northwestern Mutual: Never interviewed with them... but I tend to stay away from organizations who are too prideful and full of themselves.

Guardian: Very similar to Mass. Guardian has a proprietary system similar to LEAP. (More expensive and can't use it when you leave Guardian. Again, wait one year before doing this.) SEMI-CAPTIVE - similar to Mass.


These are my own observations of these companies from an organizational point of view.

It's MORE IMPORTANT to find a good local agency, manager & mentor to train, teach, coach and mentor you. If you find that at Northwestern Mutual (or where ever), then that is the best place for you to go.

 

[xrac]

I am so far into the interviewing process now with MM...how do I go and interview with these other companies before I have to make a decision on Mass?

If they want you they will be there in a month or six months from now.

 

[Bob Klee]

tentex,

If it was me, before signing a contract with any of them, I'd ask to talk to 3-6 of their new folks. 2-3 that have been there less than 12 months, 2-3 12-24 months.

The companies xrac mentions are all good but the person you have to work with can make/break you as far as your success. I feel one reason I did well when I started with Farmers was because I already had 10 years as a self-employed business owner + since I knew several Farmers agents, I went to 3 Farmers agents I knew & asked: if you were starting over again today, which District Manager would you work with. Two referred me to the same guy & it was not the manager they had! I did the same thing when I changed states to my next captive carrier.

So do your due diligence & don't be scared to turn down MM if they won't give you folks in your area that have worked with the manager/team you will have to work with.

At least that is how I would do it. Others may vary...

 

[Franz Kafka]

Ask about new agent financing and see them squirm.

 

[tentex]

Ask about new agent financing and see them squirm.

What is that?

 

[Bob Loblaw]

What is that?

I'm in a similar position re MM. Financing is a salary + bonus paid to qualifying new career agents, usually for the first few years of their business. The amounts decrease yearly and you have to meet certain LADL FYC requirements to qualify for all of the cash available to you.

The parameters for qualifying for financing at my agency are unknown to me at the moment.

 

[VolAgent]

I'm in a similar position re MM. Financing is a salary + bonus paid to qualifying new career agents, usually for the first few years of their business. The amounts decrease yearly and you have to meet certain LADL FYC requirements to qualify for all of the cash available to you.

The parameters for qualifying for financing at my agency are unknown to me at the moment.

You have to hit a certain score on the test, your background, number of and quality of prospects for Project 200. Also, the sales manager and GA have to feel comfortable taking the debt if you fall off financing.

Its not terribly hard to qualify for. Fog a mirror, dress halfway decent, know a few people, and sound halfway enthusiastic during the interviews.