Job Responsibilities
Financial Securities and Insurance Sales and consultation 25%.
Telemarketing 75%.
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Job Requirements
Reqirements: Pass NASD Series 7, Series 66, Life, Accident,
Health, and Property and Casualty Licensing.
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Uppers
Extremely flexible work schedule. One can very easily create time for family and
personal activities.
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Downers
Miserably low starting pay scale, especially for women. Gross
lack of management (qualified or unqualified) new employees are
isolated and ignored, yet sales quotas must be made each quarter
in order to remain employed. For example, in my first 2 quarters
I did not have a training, or sales manager. I trained myself,
and sold alone. Luckily, I had 3 years of experience in the
industry, other new employees who did not are no longer employed.
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Lifestyle
One could work up to 65 hours if they don't plan well, or if their practice is
struggling. Prudential is not a Female friendly organization. Women are ignored
by managers and directors, and paid less. Minority employment is generally
centralized on the east coast (NJ,NY etc.) In most states Prudential employs very
few Minorities.
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Compensation
New employees generally earn 21-31,000 per year for their first
two years of employment, they purchase their own retirement and
benefits. Most new employees don't last longer than 6 months, so
the 21-31,000 salary ends up being 11,000-15,000 actually earned
for very difficult work. No commission is earned for 2 yrs.
Commissions are banked by the company, and quota meeting
employees recieve bonus credits equal to around 5% of actual
commission earned. Quarterly bonuses ranging from 1-7,000 are
paid to quota meeting employees only. For example, in order to
earn a $1 thousand bonus, an employee must earn $10,000
commission for the company to keep.
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Advice to Jobseekers
Do not enter this field without several pre arranged clients to
sell life insurance to. Life insurance is the only product that
pays decent commissions, so plan to sell a lot of life
insurance. If you don't want to be a life insurance agent, do
not apply.
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