Financial Advisor/Personal Banker - Page 2

bucutie02 · #16 02-15-2006, 11:02 AM

What exactly is a pyramid scheme?

Well I never went to the interview at Primerica. It was extremely far from my house, about an hour and a half. I was already hesitant to go because of the distance, but since I needed a full time job I was reconsidering. Anyway- with everything everyone has said I looked into the position more and decided that a job in 'sales' is not what I am looking for....and like that link provided says...they dont give you much information but strongly urge you to attend the orientation. The guy who contacted me was very friendly, and was telling me that if i couldnt make it on the days they offered it, then maybe he could schedule a time to do it on a saturday, or even maybe somewhere closer to my house at anytime

I am still on the job hunt, but I have had more interviews with Wells Fargo and hopefully one of them works out!

Lady Pi Phi · #17 02-15-2006, 11:07 AM

Quote:

Originally posted by bucutie02
What exactly is a pyramid scheme?

Well I never went to the interview at Primerica. It was extremely far from my house, about an hour and a half. I was already hesitant to go because of the distance, but since I needed a full time job I was reconsidering. Anyway- with everything everyone has said I looked into the position more and decided that a job in 'sales' is not what I am looking for....and like that link provided says...they dont give you much information but strongly urge you to attend the orientation. The guy who contacted me was very friendly, and was telling me that if i couldnt make it on the days they offered it, then maybe he could schedule a time to do it on a saturday, or even maybe somewhere closer to my house at anytime

I am still on the job hunt, but I have had more interviews with Wells Fargo and hopefully one of them works out!

You mdae the right choice. I had an interview with Primerica once...when I too was desperate for a job. They are unbelievably shady. I went to the interview but not to the orientation. They are like Amway for the financial world.

summer_gphib · #18 02-15-2006, 11:08 AM

A pyramid scheme is also called MLM or Multi Level Marketing. There are some MLM's that are not schemes... but there are several that are close.

The idea of an MLM is that you don't do the selling, you recruit others to do it for you. Then you make a percentage off what they sell. You may not make any money until you have at least a few recruits who are "active" meaning they have recruits.

I also did Mary Kay, and it was kind of the same thing. A big push to recruit, even more than to sell.

:-)
I do know a guy who is making quite a bit at an MLM (Monavie- which is a fabulous product) but they are really few and far between.

Boodleboy322 · #19 02-17-2006, 10:07 AM

Quote:

Originally posted by summer_gphib

The idea of an MLM is that you don't do the selling, you recruit others to do it for you. Then you make a percentage off what they sell. You may not make any money until you have at least a few recruits who are "active" meaning they have recruits.

Sounds an awful lot like Quixtar formerly known Amway.

TCV · #20 02-17-2006, 01:30 PM

I have to admit that about 6 years ago I used to work for American Express Financial Advisors. I was one their recruiters. Our biggest incoming candidates were students who just graduated from college. I went to all the job/career fairs held at universities. Believe me, do not get involved if you do not like the challange of sales. It is a hectic work week of 60 hours just to get leads and advertise yourself out there.
I am so glad I don't work for them anymore I felt bad when candidates didn't pass the licensing exams (at that time AMEX paid 100%).
Anyway, to sum it up stay away....

Optimist Prime · #21 02-17-2006, 05:18 PM

Multi-Level is PC for Pyramid. Seriously. Don't do it. You're better off calling up one of those late night info mercials places and going into real-estate or whatever random thing they do.

SmartBlondeGPhB · #22 02-18-2006, 07:54 PM

Quote:

Originally posted by TCV
I am so glad I don't work for them anymore I felt bad when candidates didn't pass the licensing exams (at that time AMEX paid 100%).

That was the piece of cake part for me.........

But the sales part SUCKED.

ztabchbum · #23 05-05-2006, 04:24 PM

Quote:

Originally posted by bucutie02
I am still on the job hunt, but I have had more interviews with Wells Fargo and hopefully one of them works out!

How did it go with Wells Fargo - I know it's been some time since your interview but I just got an offer from them. Any info would be great. Thanks!

bucutie02 · #24 05-05-2006, 05:25 PM

wow! thats great! i am still with wells fargo in the same position, I didnt take the other one I was hired for. what position were you hired for?

ztabchbum · #25 05-06-2006, 09:16 AM

Quote:

Originally posted by bucutie02
wow! thats great! i am still with wells fargo in the same position, I didnt take the other one I was hired for. what position were you hired for?

I've been offered the Financial Advisor/Management Trainee position. There's a guy that works there now that I used to work with at my last job and he says he really enjoys it. What position are you working in?

bucutie02 · #26 07-16-2006, 08:07 PM

update!

well i am sorry i havent posted in a while, but I finally got a full time job!I actually started a month ago. Still with the same company, hours are good and the money is awesome! I am very happy!

Kurkowski · #27 08-26-2006, 05:44 PM

Becutie02....Hi. I have an offer from Bank Of America for a personal banker position but I have another offer from other different bank too. So, I would like to know how much make the personal banker there, the base salary without commissions. I didn't talk about salary yet....and I need to take the best decision....Thanks

bucutie02 · #28 08-27-2006, 12:43 AM

hello! well I think that starting base salary varies by city, yet alone state! the starting base salary for a personal banker in houston is 32K.

ReachTheLimit · #29 11-07-2006, 07:56 AM

Stick with your current employment and take your manager up on his offer.

Financial Advisor positions, for most companies, are a commission only, non-salary, type of positions...it's sales, and the person that is expected to get out and pound the pavement to bring in the business is you.

Anytime I have posted a resume on Monster.com, I get TONS of calls to be a financial advisor...and guess who has never taken a course in economics? That would be me. Even when I tell them that, they STILL insist I come in for an interview.

Now, would you want someone as a financial advisor that not only didn't major in finance, but has never taken a single college-level course in the subject? Of course you wouldn't.

That should tell you that they will hire ANYBODY for those positions, b/c they don't pay you until you bring in the business.

stephikate · #30 09-08-2007, 12:37 PM

Ok people, is this scam still running? I have been approached to become a member of PrimeAmerica here in GA. I have to pay $99 for the license and they assure me I will be reimbursed in 30 days. They assure me I won't be in sales. I will be recruiting and training new people. Sounds great, but I am very wary because of all the bad things I have read about PrimeAmerica on the internet so far.