Interviewing at Metlife, Advice?

[hydrarx]

Hi everyone, just found this forum and wow, what a great resource!

I interviewed at MetLife yesterday. I met with the training director who went over what MetLife does, what working there is like, etc.

Overall the interview went really well and we scheduled to meetup on Monday to meet the sales and managing director to continue the interview.

About myself:

I'm 24, have some college but no degree, military background and I've never really sold anything. All my experience is in information technology. My resume reflected this. However, I have a strong interest in learning about securities and a series 7 license interested me. This is how I came about to finding about MetLife. The interviewer told me that they would be glad to sponsor me for the series 7 depending on how well this interview Monday goes...

I've read about a project 100 or 200 they may assign me to do. I really would not want to put close family and friends on this, and I'm not even sure I would have the # of people to put on this.

Is there a better way to fulfill this requirement? I'd much rather learn how to get or fill this list with stranger's contact information that may have an interest in purchasing insurance products.

I wouldn't mind cold calling or getting out there and meeting people and telling them about insurance, but I do not want to push insurance on friends/family especially when I am completely new to this and don't have any experience in the industry.

Also, is MetLife a good company to start out selling insurance? As someone with no experience, I'm guessing this is a "yes," but I'd like to hear your opinions.

I'm excited about this job opportunity because truthfully I do not enjoy working in IT. I am skilled in IT but hate doing it. I have an interview today for an IT position which is a "backup" if MetLife doesn't hire me.

I love learning about stocks, options, the markets, etc. and though I'd never thought about it, insurance seems very interesting to me as well. My free time I usually enjoy reading books about business, entrepreneurship, self-development, etc. and a job in insurance sales seems like a great opportunity to apply myself in something that I might really enjoy doing as a career.

So any advice for the interview, filling out the project 200, prospecting, and just general get-started-in-insurance-sales would be greatly appreciated!

 

[VolAgent]

If you are really interested in being a stock jockey, Metlife is not for you. You need to talk to a real wirehouse or brokerage firm. Metlife wants you to sell insurance, their insurance, not investments.

 

[billberry12]

Talk the Edward Jones. Google them.

 

[DHK]

If your Metlife office cannot teach you how to leverage your project 200 into a larger referral source, then you'll have your answer.

Especially at your age, your "warm market peers" are also going to be your age... and may still be grown children. Others that you will know are going to think of you when you were little - maybe even changing your diapers. It'll be tough to try to sell them.

So don't. Learn how to show them what you are doing now... with no expectation of making a sale from THEM. Show them what you're doing so they can introduce you to others that they know so they can benefit. In fact, when you approach them, say something like this: "I don't know if you know this, but I just got started with ___ firm. Now I'm not calling to sell you anything. I'm sure you're all taken care of. But to get the word out about the kind of work I do, I'd like to show you how I conduct myself and do what we do. Then, only if you're absolutely comfortable, I'd like to brainstorm with you about others that you may know that could benefit from this kind of work. If you're not comfortable, we're still friends. Besides, I could use the practice anyway. When would be a good time to get together?"

VolAgent is right - if you have a stronger interest in securities, you'll want to work for a wirehouse/brokerage firm. However, some of these firms won't even look at you without a bachelor's degree... or even a master's degree. (I could be wrong on this, but I do know that they want to see higher education.)

BTW, I believe it's much easier to get started with an insurance company than a wirehouse firm. Insurance is needed by almost everyone. Investments should be recommended to only those that can take the risks with the capital they have. It's much easier to find people who have insurance needs.

I think Metlife is a good company. But as it has been said many times before - the company name doesn't matter nearly as much as the office manager and mentor does.

 

[moonlightandmargaritas]

All my experience is in information technology. My resume reflected this. However, I have a strong interest in learning about securities and a series 7 license interested me.

The job is NOT "learning about securities". The job IS SALES. All day everyday.

I've read about a project 100 or 200 they may assign me to do. I really would not want to put close family and friends on this, and I'm not even sure I would have the # of people to put on this.

If you are not willing to do this, your chances of success are very, very minimal.

Is there a better way to fulfill this requirement? I'd much rather learn how to get or fill this list with stranger's contact information that may have an interest in purchasing insurance products.

Much, much lower odds. Ineffective. Strangers that have an interest in purchasing insurance products? Why do they need you? Their products have to be SOLD.

I love learning about stocks, options, the markets, etc. and though I'd never thought about it, insurance seems very interesting to me as well.

If that's the case, you should get a degree and get a job as some kind of "analyst".

You might not like hearing it, but this is a brutal business with probably the highest failure rate known to mankind, and it doesn't sound like a good fit for either you - or Met.

 

[hydrarx]

So when you guys started out, was the project 200 (or similar) pretty standard?

What is to prevent anyone from buying leads and using that as your project 200?

I get that working at MetLife will be a sales job, with a side benefit being obtaining a series 7 license and later on having the option to work for a wirehouse/brokerage.

moonlight makes some good points, but as I mentioned, I also find insurance interesting to learn about. Sure, I like stocks/options better, but I think it is unlikely a brokerage would hire me at this point in time. So insurance is the next best step.

I'm just worried about the whole project 200 thing because, well, my age group of friends I know are certainly NOT interested in any kind of insurance and I wouldn't want to alienate them from me from trying to push insurance on them.

I would like to learn how to prospect and market to generate leads to work from. Is not cold calling a skill that can be trained and improved to generate sales?

Am I just worrying too much about this project 200 thing?

Can anyone relate with being hesitant to put all your friends/family on that project 200 list? I would feel much better marketing to strangers/leads starting out.

 

[hydrarx]

So my 2nd interview with MetLife went very well, essential they told me that it would be up to me whether they hire me on.

They gave me some study material for the state's health and life insurance exams and told me to be ready to take the test in 1-2 weeks.

So first step would be passing the exam, then figuring out how to get appointments.

 

[VolAgent]

Glad to see you took to heart all the advice you were given.

 

[hydrarx]

That I should quit before I even try? No thanks.

As I mentioned, I like learning about stocks/options but also find insurance just as interesting now that I am learning about it.

I do not think I would have a chance at getting hired at a brokerage without a degree or experience.

I realize this job is all about selling insurance. Got it.

I also realize I have no experience, so that is why I am reaching out for help and advice.

During the interview I let them know that I have only been in this state for 2-3 years. They acknowledged that I would be at a disadvantage because I don't really have a natural market. They did not assign me a project 200.

Instead I was given access to an online kaplan training course and given a study guide for the health and life insurance exam.

I was told to study and take the exam within 1-2 weeks.

After that, they may hire me on as a trainee, and I would have to produce 10 applications to be hired on full time with them.

I'm taking this one step at a time. First step is to knock out this licensing test.

Then I need to figure out how to get the word across and gain appointments. They will send me with one of their salesman on the appointments and share the commissions.

I'm not sure yet whether I will get training on how to find leads/prospect/market. I suspect I will, after I pass the exam so they know that they are not wasting their time with me.

I would greatly appreciate advice on how to proceed, or anything that may help me succeed in selling insurance.

Please keep the negativity to yourself; I got it, there is a very high failure rate. If I took to heart all the negativity I would probably never leave my house and just take no risk, thus having no risk of failing. But that's not me.

 

[Mattschmidt]

good luck on your adventure...I think you will do just fine