What is "FIrst Investors Corporation" all about?

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Oct 1, 2010 3:15 pm

Hi, so I googled investment representative forums in google and this was the top hit. I come seeking advice. My girlfriend was recently offered a job at "First Investors Corporation" and I just wanted some opinions on this business. A couple things caught my attention about this:

1) No Base Pay

2) No benefits

3) $700 fee for training to get licensing

To me, this seems a little ridiculous - especially being offered to a English Major (expected graduation December 2010). How is my GF going to learn all that she needs to know to work completely commission-based in a matter of 3 months training part time? I think it's counter-intuitive that someone should accept a job that requires payment up front and offers no base pay. If she fails, if this corporation does not train her well enough, she stands to lose a lot of money.

I have voiced my concerns to her over and over again and she seems very confident about what they have tod her. I do not want to push my speculation so much that it seems like I'm being unsupportive. I just don't want her to quit (or drop to part time) her current job with decent pay and benefits for such a risk. 

All responses are appreciated. Thanks,

Oct 1, 2010 3:21 pm

Do a google search, I just did...

Looks like your concerns are warranted.

Oct 1, 2010 5:01 pm

A joke....

Oct 1, 2010 6:52 pm

I wrote about this in a prior post...

Stay away.

They hire anyone as long as they fog a mirror.

Oct 2, 2010 3:03 pm

You can also look at jobvent.com.  1) Will train you how to sell. 2) Main market is 403b. 3) two directions management or sales. 4) very high attrition rate so they always need new college grads. 5) They offer around five fund famlies, but focus is to sell FIC Funds. 6) On the Insurance side they have First Investors Life. Life products tend to be very expensive 7) Payout is 35% then if you reach your bonus its %55, selling outside funds payout less. 8) Schedule: will be working all the time. Dont control your schedule company does. 9) About 98% will quit after first 2 years, and some take longer. 10) Unfortunatly, I took longer to leave and have no regrets leaving.  11) If you work your ass off you may make $10k first year.

Jobvent.com has alot of info. Many of the possitive comments are posted by managers or a company they hired to post positive reviews to do damage control.

I would also like to hear other opinions, or thoughts about this company.