I have an interview coming up with a major life insurance and financial services company.
I have a business degree but have never worked in insurance/financial planning, so i don't know a whole lot about the industry. I'm looking for some insight from people who work/have worked in insurance/financial planning.
I've had other sales jobs in the past that promised income levels and growth opportunity far beyond the actual compensation levels of the company's top earners, but of course I had to waste a few months to realize my 65+ hour weeks weren't going to get me anywhere. I know financial services isn't the same thing, but it's often "eat what you kill" so i'm a little apprehensive about the whole thing.
All insight and advice is appreciated
Good GPA but no internship experience. I used to make very good money at my summer job and couldn't justify a huge loss to be stuck in an office filing papers all summer.
My current employment is decent paying but seasonal. Come October i'm going to need to find something else.
So you'll be on the client facing sales side? Been there, done that. Unless you absolutely love selling and don't mind thinking about work 24/7, look for something else.
I'm a CPA and 6/63 licensed with life and health also. Do something else. Compliance will crush you if the competition doesn't.
Thanks for the replies.
I made a thread about this on another forum and got about 15 replies saying the same things.
They don't appreciate a good salesman for the customer, only how much extra they can sell.
Once BMFR6 left LM, I tried a couple more times to do simple customer service calls (registering new bikes). I bailed in frustration and told them why he kept me at the company and they were unable to.
I have an accounting degree and will be getting my cpa to do as a side job. I did a stint in cube hell as a compliance analyst for a telecom company. It sucked the life out of me. Everyone is different but leaving that was the second best choice I've ever made. Find something that interests you or it'll be way too much like work.
Thanks for the info guys. I've been apprehensive about applying for these types of jobs because I'm not in love with sales. Maybe I'll go into IT like the other half of the people I know.
just out of curiosity....is that the type of training that makes up a financial advisor?
You honestly don't want to know the "training" that makes up a lot of financial advisors. There are some really good ones with investment experience and financial certifications and then there are the majority of them who are frequently just really good talkers.
I live in the finance world now and am trying to get out. Its not easy and even more difficult as I've been in it now for more then 5 years. Happy to answer questions but I do echo the same sentiment thats been around so far, if its a choice at this point, don't go into finance.
cool, just curious...I have a professional degree in healthcare and a job, but want to learn about personal finance. A few people have told me to pay and see a financial advisor, but if they are just going to say "max out your 401k, setup a roth, take advantage of pre-tax spending accounts, and these other smart money saving tips", then it's not worth it.
Side rant, they used the term nest-egg so much that it pisses me off to even type it out.
I guess I am in the minority. I started my financial services career almost 7 years ago with a large company, worked my way up with them and then went to a bank where I make a VERY good paycheck, work from home most days and travel every now and then. Wouldn't trade it for the world. Yes, you'll have to be a kickass salesperson to be able to write your ticket to something bigger or better, but if you have any interest in finance or economics and are willing to pay your dues for a few years and bust your ass while you're young, it's well worth it. My house will be paid off before I'm 40, I was able to help my husband start his own business, I have the money to do what I want to do. The couple years of grunt work were well worth it.
I don't have experience in finance personally so my thoughts are more general. I do know a few that got into that world and quit. The way I look at things is along the lines of what obsolete said, with someone like Jackie being the exception. Some people work for the money, some work for passion and some get lucky and can do both. If you haven't found the lucky option yet find something that'll keep you happy/interested and will still at least pay reasonably.
Unless you're willing to work for, and are excited about the money you could make in finance, you'll probably hate it. I couldn't do it, maybe you can.
In my world, I had taken a pretty decent pay cut just to be self employed. I figured with enough work and at least keeping the bills paid it should pay off in the long run. It finally is but I have the luxury of doing what I absolutely love and then found a way to make that pay off in the long run.
Good feedback so far guys, thanks.
I have a second interview this week, he kept the first one very vague.