Pros
The product has a good projected rate of return, if you're into permanent life insurance as an investment. Life insurance is what this company is really all about, and they do have the best whole life product, though it is a bit pricey. If you drink the Kool-aid, it will likely pay off in 40 years, when your permanent policy finally sees a meaningful return.
Cons
Where to start? -False Promises -Lack of support -No base pay, 100% commission, not case with competition -No leads -Office culture and reaction to lack of success -Revolving door new hire business model -Sales job, not a finance position, do not get confused, you're just selling life ins. For more details, read below: During the recruiting process one is told all of the benefits of working for NML. You listen to lines such as, "You'll have unlimited earning potential, you'll learn so much, great career, etc.." I approached the company and let them know my financial situation. I could handle a couple of months with low income, but did not want my hard earned, and saved, dollars to go to waste if business was not picking up. I was assured that it would not be an issue (it was). In my office, I jumped out to a fast start, but was encouraged to do joint work. Joint work is when another agent accompanies you to your meeting. He will do a lot of the talking, and you will sit back and 'learn', but he takes 50% of the commission, or sometimes more if he's sneaky and tries to put one over on you. Joint work is a great way for struggling 1-3 year reps to get business on their books, so they can reach their 6 month and 1 year production goals. They try to convince the greenhorns to take them on meetings so they can get lives. Often these reps know nothing more than the greenhorns, and have been referred, or have referred themselves b/c the attrition rate is so high in this business (80% quit w/in 1 year), and they might as well milk the new guys. They most likely won't make it past 6 months anyway! Investment products do NOT count for these totals, and they do not pay nearly as well as selling life insurance. NML is NOT an investment house. That's why most people in their 1st year don't sell them, and they are ignored in the early months, or someone is brought in to do joint work and they take 100% of the commission if they help your clients with investment needs. Here's the deal: You have to call you friends, their friends, and family to start. You have to pester them about buying insurance, even though NML term insurance is often more than twice as expensive as competitors. Moreover, you have to convince them that permanent life insurance is an investment. There is merit to this idea, though one's portfolio should not be based on life insurance alone, but haggling with your parents, and broke 20 something year old friends, is no party. If you do not sell, you are not making money, and driving to work is costing you valuable cash. You have to pay for meals, parking, your office, your printer paper, bond fees (in case you mess up a deal/lie to a customer), etc. If you do not sell anything, your debt with NML will still grow b/c you have to pay for all of these other things. In addition, you have to be at a variety of required meetings during the week, and they have support staff to manage you. It's like the court system, it's a business with multiple jobs attached to the trial process. If you are not succeeding, but have good weekly point totals, you'll be fine, but if you're just not succeeding, you'll be pushed and eventually exiled. People will wonder about your future, and support will be non-existent. If you're like my friend, they'll hold your last check after you leave. Making 60k in the first year is being at the TOP of your group. Most people will make 20-35k. Even some people in year 3 are making 40-50k. It's a hard gig that does not see dividends until years 5-10. During training, they try to make you believe you can make 85k your first year, do not buy it unless you're the 1%. To earn this 85k, you have to find new business by asking existing clients for referrals to friends, family, and co-workers. This is how you will operate for the rest of your career, and it's not for everyone. This is the perfect job for someone who has no expenses, is fresh out of school, and still lives with their family. Maybe then, it will be adequate for a while, but if you've accumulated any sort of responsibilities, think twice. For me, and 2/3 of my training class, this job turned out to be a colossal waste of time and money. NML is a revolving door. They hire thousands a year, but their overall agent totals do not change much. They are on a big hiring binge for 2013, so boards, such as this one, are being flooded by recruiters posting misleading ratings and reviews. DO THE INTERNSHIP FIRST. REALIZE THAT MOST OTHER COMPANIES/COMPETITORS OFFER A BASE + COMMISSION.