By YOUNG MONEY Staff
6 August 2007

It’s no secret that internships give college graduates a head start in a competitive job market. An intern program with an excellent reputation and long-standing experience will get you even further. Take Northwestern Mutual, for example. This year, the Northwestern Mutual Financial Network intern program is celebrating its 40^th anniversary. In July of 2006, CNNMoney.com named it one of The Five Best Internships for Real Work. And for the last 12 years, the program has been ranked among America’s Top 10 Internships[1].

   What does it take to be a Northwestern Mutual Financial Network representative? Courage. And compassion. This may seem contradictory, but these two characteristics fuel the success of financial professionals dedicated to helping others.

   "Our courage gets us in front of people: we ask for the appointment so we can do the work," says Michael Van Grinsven, CLU, Northwestern Mutual’s Director of Field Recruitment. "Our compassion - the need to help people - motivates us to be courageous. Without compassion, we become salespeople rather than trusted advisers." Vans Grinsven speaks from first-hand experience because he started with company as an intern 23 years ago. Today, he heads up the program.

   That’s not unusual. Interns can be extremely successful at this company. One out five of the company’s top 1,500 financial representatives began their careers as interns. What’s more, 41 percent of today’s managing partners - members of senior field management - were interns. In fact, former interns who are now financial representatives are routinely 20-30 percent more successful than the rest of the field force.

   With such a winning track record, network internships are in high demand, and so the network can afford to be selective. Only one out of every 18 to 20 applicants lands an internship.

   Former interns say that the training is invaluable - even if they didn’t pursue a career with the network. The personal and professional skills they acquired changed their lives, giving them an edge in the job market and the workplace.

Is this job right for you?

   The path to a Northwestern Mutual Financial Network internship is strenuous. For example, candidates are put through their paces to delve into a section of the market they would like to call on, such as small business owners, veterinarians, or pharmaceutical salespeople. Candidates must then show off their communications skills by presenting their marketing/business plan.

   By the time would-be interns finish such qualifying activities, they have tasted what it means to be a network representative. They have begun to build a referral network and to present themselves to others. The qualifying project helps both candidate and company make a "mutual" decision. Do you like this work? Is this a good fit?

   Once a candidate is accepted into the program, the work begins. And it is real work. Interns are professionals. Licensed and bonded, they enter the marketplace, make contacts, meet people, and begin their careers. No stapling and filing and watching from the sidelines.

From intern to manager

   Cristi Stroud, who rose from intern to managing partner in 11 short years, says, "I got real-world experience. It was fun, and I loved it immediately. I was especially attracted to the leadership opportunities. I became a College Unit Director - sort of a player/coach - who develops a campus team to compete against other teams. It gave me another way to channel my passion for the work."

   When Stroud entered the internship program, she had no financial background. But she did have a good work ethic, and the program recognized her professional potential: "I learned on the job about financial services and about how to succeed as a financial representative. It was like a taking another college course, but I got help from several directions. By the time I finished, I knew this was the career for me."

   Former intern Phillip Washington, on the other hand, had always been interested in a financial services career. After looking into several companies’ internships, he chose the program at Northwestern Mutual: "I felt that these very successful people offered a strong support system - they would help me if I gave it my all, which I did. I already knew where I wanted to be in 20 or 30 years. I wanted to succeed in this business.
   "As an intern, I learned how to present myself, but I had to leave my comfort zone," said Washington. "The network brought me along and gave me the confidence to talk in front of people. I was really astounded that as a college senior I would find myself making appointments and talking to professionals in the city’s law firms. I was on my way, beginning to build my own practice."

   If you’re interested in learning more about a financial services career with the Northwestern Mutual Financial Network, you can listen to interns talk about their experiences at www.nminternship.com.

[1] According to Vault, Inc.