Are you thinking about Metlife

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May 8, 2005 9:13 pm

The follwoing is my experience with Metlife-


Well Metlife made me an offer on 5/6 and was a bit surprised to find that I have to sell $4000 worth of commisions before my hire date or no job.

Is this par for the course for all large Financial companies?

My concern is not so much that I wont hit it, but why sell any thing before am hired!! I understand that they want me to prove myself and network (friends and family) but wish they would have informed me of this little wrinkle in the beginning.

This little- "Oh by the way before your hired but in a month you need to take all your exams (Life, Health, 6,7) work present job and find time for one of our managers to terrorize your family and friends till we extract $4000 worth of commission from them. " 


This should have been brought up in their career night or at very least first interview, certainly not at the fourth and final interview.

Any how just wondering if this is the norm?


This was at thier Troy, MI office.

Thanks all.

May 9, 2005 11:02 pm

Logan,

I just started with AXA Equitable. They require $6000 in Gross Commissions to come on board. I just signed up a prospect from a cold call for a $8400 Commission Policy. My manager came and closed the case. I would try to find a manager who agrees upfront that you won't prospect family and friends, at least not in the first few months.

Sonny

May 9, 2005 11:12 pm

Sonny, let me guess- a 1035 cash value exchange into an AXA VUL? Or
maybe an AXA Accumulator Plus Rollover IRA w/ GMIB???. I was there for
3.5 years in NY ( was DLC nearing NLC the past 2 years). Make sure you
know up front how much they are going to nickel and dime your paycheck
(E and O, AWS workstation software, phone bill, office rental, and they
fact that they dont match your 401K unless you sell AXA Equitable
proprietary...).... Beware the French giant....

May 9, 2005 11:17 pm

Logan,

Unfortunately your situation is typical. Management will always try to
get you on board quickly to help with their recruiting numbers (
although thats not the only reason, not trying to be negative), and the
quickest way is for them to encourage you to sit down with people you
have developed trust and rapport with. I agree with Sonny, hold them
off for a few months, gain the commissions from random prospects,
develop your business into one that is sustainable for the long term,
then help your friends and family out. I have seen many people come in,
move the pops' old 401K, grab a nice hit, get on contract, then fizzle
out after 8 months because their managers threw them into the wild with
little training or experience.

May 10, 2005 8:21 am
blarmston:

Sonny, let me guess- a 1035 cash value exchange into an AXA VUL? Or

maybe an AXA Accumulator Plus Rollover IRA w/ GMIB???. I was there for

3.5 years in NY ( was DLC nearing NLC the past 2 years). Make sure you

know up front how much they are going to nickel and dime your paycheck

(E and O, AWS workstation software, phone bill, office rental, and they

fact that they dont match your 401K unless you sell AXA Equitable

proprietary...).... Beware the French giant....



Was a UL-G policy. They are big on proprietary stuff.

May 10, 2005 10:01 am

Thanks for replies.


Chalking it up to an learning experience.  Next time will know questions to ask and have a much better insight on the proccess.


May 10, 2005 10:32 am

Sonny- the fact that they are big on PROP is an understatement. Which is not necessarily a horrible thing. What I became uncomfortable with was the fact that they held themselves out to the public as objective advisors, when in fact they were walking into the 2nd meeting and holding the door open with an Accumulator Plus prospectus kit. Again, not truly bad. And I was doing the same thing for years. Their products ( Accum, Athena, EquiVest, etc) are actually great products. I know because where I am now, even though we can sell roughly 10 VA companies, arent as good as AXA's products. From reading these posts, I believe we have switched companies, so you may know where I am coming from.

May 7, 2006 8:48 pm

LOL...this guy just called me back to ask if I was interested still in job



I reminded him of out last conversation ( me chewing him out) and he just dismissed it and hung up.  Not sure if all Metlife's are this moronic but the one here is pretty bad.

May 13, 2006 7:20 pm

I'm at Met. I had to do the same thing. I had to get some sales under my belt before hiring on full-time. I just finished my 7th week of "pre-appointment."

Who did I sell to? Family and friends.

Did MetLife push me in that direction? No.

I guess it all depends on the branch office. My office is great and I get a lot of support so doing pre-production didn't really seem to be an issue for me. You get to keep all the commish anyway.

My manager mentioned it to me briefly in the first interview (I didn't really ask questions about it cause I was HUNGRY for a job). They went into more detail during the 2nd interview. But most definitely, the individual branch office culture will really affect how well you perform.

May 13, 2006 9:17 pm

Since that time have heard alot of bad things about the Troy office.


Know I gentleman who retired from there and he was shocked at thier antics.