expanding company....

badassxtreme99

badassxtreme99

Forum Member
a company that i joined with a a little over a month ago is wanting to expand. a friend showed my girl and i the company and we seen a GREAT opportunity towards finacial freedom. so now my question to you guys and girls here is who is happy with their jobs and who is not? if anyone is interested in making a possible career change hit me up on a pm and will give you whatever information that you need.
 
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Tom Vu?
http://www.youtube.com/watch?v=jYqDS9i8zJw
 
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the company is primerica and it is the marketing arm for all of citigroup. citigroup is the largest company as of right now in the world and primerica is part of them. primerica has also been around for 30 years and has been completely successful without using any kind of advertisement EXCEPT in the us open and even then it is only putting up banners. it is not for everyone but i do believe anyone can do it cuz i am just a painter with no college and i am planning on putting down the guns for good in 6-8 months. i am that confident in the company.
 
just my opinion. DON'T DO IT! I worked with them, American Express, and Edward Jones on this kind of stuff. If you really want to get into the markets, don't do it for a company that isn't taking any risk on you. Yes, you have the posibility to make a lot of money there, but your initial cost for your testing isn't worth it. Seriously. A company that takes no risk in you yet still takes money from your work isn't worth it in my book. If you want to get into this, I'll gladly sit down and talk to you as about a year ago I was doing the same thing you are. Talk to Al, it's what he's doing now as well. Contact Edward Jones, or hell, even American Express or JP Morgan or any other reputable investment company. Why do you think Citi bank has separated itself from Primerica as much as they have. Ask any investor and they will tell you the same thing. Primerica is to investing what ambulance chasers are to lawyers. It is a pyramid scheme in that it's based intirely on you getting your friends and family to sign up under you and then you make money off of them. Yes, some people do make it, but the have the highest level of turnover out of any other company in the investment business. This is just my personal opinion backed with my personal experience. I'll support you in anything you do Steve, but please don't do this. THere's better ways to do this and you not lose yourself in the process.
 
you have your opinions and i have mine but i am going to do this with 100%

1st off, Citi bank OWNS Primerica, we do not use any of those companies, we use, Citi bank, Smith Barney and Legg Mason. If you can not trust those companies then 99% of the people who have money are screwed. Which would be EVERYONE, our company shows people what do with it to use it with what they have and the programs we are given. Primerica uses its products for it employees and its families. We are not a scam, most insuarce companies do not like us because we put them out of business!!! our product is just that good. in july of 2005 Success magazine dedicated an ENTIRE magazine(note the ENTIRE) to our company primerica. that has never happened and has not happened since in that magazine. in my opinion anyone who has failed at this has not applied themselves. all we try to do is help people get out of debt by offering them different programs in which the person CHOOSES. we do not sell we educate. i will never give anyone anything that they DO NOT NEED. i am solely in it to help people and families get out of debt. considering i have helped some personal friends of mine already i think i am gonna stick with it but thanks for your input.
 
badassxtreme99 said:
you have your opinions and i have mine but i am going to do this with 100%

1st off, Citi bank OWNS Primerica, we do not use any of those companies, we use, Citi bank, Smith Barney and Legg Mason. If you can not trust those companies then 99% of the people who have money are screwed. Which would be EVERYONE, our company shows people what do with it to use it with what they have and the programs we are given. Primerica uses its products for it employees and its families. We are not a scam, most insuarce companies do not like us because we put them out of business!!! our product is just that good. in july of 2005 Success magazine dedicated an ENTIRE magazine(note the ENTIRE) to our company primerica. that has never happened and has not happened since in that magazine. in my opinion anyone who has failed at this has not applied themselves. all we try to do is help people get out of debt by offering them different programs in which the person CHOOSES. we do not sell we educate. i will never give anyone anything that they DO NOT NEED. i am solely in it to help people and families get out of debt. considering i have helped some personal friends of mine already i think i am gonna stick with it but thanks for your input.
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Don't take what I said as an attack on you because it wasn't. My entire point was entirely about the company. I know you could do so much better with another company, but if you're happy with what you're doing there, then definitely stay and help as many people as you can.
 
by the way the company pays 1300 on our life insurance classes and we paid 200 for the classes. the company also does competitions for everyone in it to send them on trips around the world all expenses paid. i dont know exactly what you mean by the company not taking a risk on us? we are helping people with their finances(meaning putting peoples money in places that they trust you with). they trust us with their name and how you represent the company. in return for all the RISKS(as you call it) they compensate us with paid trips as incentive, good pay, and large promotions.
 
ryan i want to know what you know EXACTLY on primerica and all the FACTS you have as well. you have made your opinion for a reason and i want to know. if you did try it i want to know why you didnt stick with it. and i know your not attacking me i am just stating the facts that i have and know.
 
I went to a meeting for primerica probably about 4yrs ago. It was the same thing. I to passed on it..as i believe its a bunch of crap. But as ryan says..if its working for ya guys..goodluck and hope it works out for ya.
 
For those of you who are interested and curious, please research the company. If you are able to find that this is a scheme and a TERRIBLE company, let me know. This JOB has now become my new career. I LOVE that I am making a difference in everyones life that I TALK to and my own. I have been with the company for 2 months and have not been able to find anything bad about it. We do the right thing for people with hard work and just get compensated well for it. If thats a scheme, I found a great one!! For those of you who do not beleive in this company, lets talk, it only makes me feel stronger about what I do, for those of you who want a change pm me.
 
I did the whole meeting thing about a year to a year and a half ago. I was talking at the time to JP Morgan, Edward Jones, some life insurance company that I can't remember the name to and Primerica. I never started at Primerica for several reasons. One was the fact that the day I came in for the introductory meeting they hit me up for a list of friends and family . Then another reason was how they got my number begin with. I got a random call from one of their reps saying a friend of mine had given him my number. I went in for the meeting. That was a huge turn off right away. They had got my number by soliciting a friend of mine, then when I got there, they demanded that I give them my family and friends in order to finish the "application process". (that's how they had got my number was demanding numbers from my friend) I then talked to the district manager. Asked him some questions and got what I beileve were honest to God truthful answers. I asked about income. Going into this is tight to begin with if you have a company paying you to begin with, but Primerica will not pay you a base salary. Not even an advace or payroll pool to build. Was told I needed to pass the series 6 (which is fine. I was set on getting my series 7 and with a series 7 you can do everything that the 6 allows you to do), the series 63 (I was doing the 66 which once again was "more powerful" than the 63), Life and Health (I was already enrolled in the class), and within a month of my passing my exams I had to get my Michigan Mortgagers license. All in all, I would be shelling out $2500 just to get my licenses. In the past year or so maybe they changed their policy on this and are actually paying out for some of the testing now. I asked him about the turnover rate. He said they retained 15% of their hirees. The reason isn't because people couldn't do it, it was because you don't see any money for the first 2 to 5 years. Most people couldn't survive on barely anything for that period of time. That right there turned me off. I then talked to people in the industry, and like I said, they are considered the "abulance chasers" of investors. I could pull up all kinds of stuff on Google to show you things, but that's really for you to do as I don't have the stats per say at hand. I'm only asking that you research other companies. I HIGHLY recommend either Prudential or Edward Jones. Ed Jones is who I went with. They pay you a base salary while you are studying for your exams, then they pay you a base salary for your first year as well as pay for your insurance. After that first year you are on your own. By then you typically have enough of an income to live at least, by year 2 you are doing a little better than you are now, and it goes up from there. If you need any help just ask. As for the perks. Trust me when I say that if Primerica offers it that almost any sales job will offer it. Trips around the world aren't anything. Edward Jones offer 2 week full paid vacations around the world and it's not hard to hit the goal to go, it's not a contest, it's based on your production only, no one elses. Try not to focus on the "cool" stuff of the job because in all honesty, you'll only experience those things once a year maybe. Sales jobs SUCK starting up. I got out of sales just because the hours and the stress just weren't worth the effort anymore. Then again, I had done it for 3 years and starting over at a new company just wasn't worth it. You're starting fresh, and if you can do this right the first time, you'll be so much better off because of it.


*I just thought of another perk of working for Edward Jones* After your first year, they buy you and office, pay for it (with exception of the utilities etc) pay for your secretary all that neat jazz. You'll be your own business owner in a year if you can last that long. Primerica keeps you working in their offices because that's how the SEC has demanded it happen. Edward Jones is the only investor that's allowed to have individual offices.
 
The more I read, the less I think you and I are talking about the same job. I was going to be a full rep. Needing my series 6, 63, Life and health, and mortgage license. If they haven't talked to you about that yet, you might want to ask someone about it since you can't fully help someone financially if you are limited to life and health insurance only.

Some interesting facts on the income breakdown on Primerica's employees as taken from ripoffreport.com

Average Salary:

Primerica paid only $573 million dollars in commissions. If you take the average, not adjusting for differences in salary, Primerica employees make an average $5,730 per year (found by dividing $573M by the number of reps).

Actual Salary*:

Dave Derbin gave me a pamphlet of the break down in commissions for Primerica. This was how it was presented:

Total number of Primerica employees is 100,000.

At least 5,000 employees made over $50-100K in 2004.

4,171 (actual number) of 5,000 made around $50-100K (average it to 75K)

40 of 5,000 made at least $1,000,000

The rest between $150K-1M (we won't even need to use these people in this equation)

The Shocking Computation:

Take 4,171 x $75,000 = $312,825,000 in commissions paid

Take 40 x $1,000,000 = $40,000,000 in commissions paid

Total commissions paid = $352,825,000 in commissions paid to only 4,211 of the representatives currently employed with Primerica.

That leaves $220,175,000 in commissions to be paid out to 95,789 representatives of Primerica.

Divide the $220,175,000 by the number of reps left (95,789) and they made an astonishing $2,298.54 per year.

*Please note: If I account for the number of reps that make between $150K-1M that would lower that number significantly, actually making it a negative number. That means either Primerica is lying about how many people are making this kind of money, or they are lying about how much commissions they paid out. I chose both!


Just read this page: http://www.ripoffreport.com/reports/ripoff165069.htm if there isn't enough information there to get you to think twice about working for Primerica then nothing I would say would change your mind. Just consider other companies before you go headfirst into this thing.
 
I don't want this thread turning into a I HATE PRIMERICA thing. I just hate to see you as a friend jump into something that I feel is only going to hurt you.
 
As far as them making you give a list of names of friends and family that sounds ridicioulis, also like you had a bad RVP. When we went in we had no such thing. We had the meeting and we signed up for our own business. The idea behind this is so that you start it, not the company, the company is the backbone of your business. You have to make the sacrifice to get it going, you help your friends and family first, then you help their freinds and family and so on. Your company is worked off of referrals not soliciting.

As far as income goes, they do not pay you a salary, they pay you a commision, the better you do, the higher the commision. The reason for the trips and promotions is incentive to do better, thus meaning the more people you help which is the crusade of the company. Waiting 2 years for pay is unheard of, we get our first check as soon as we are licensed. It is against Michigan law to accept commision on a policy if you are not licensed. From there, as you sell you get paid. You ONLY sell if it HELPS!!! Not to mention that is why most people start out part time, at least until they are licensed. As far as dishing out all that money, Life Insurace is you pay 200, they pay about 1300, gives you incentive to be serious if you pay some money. Securities is about 400 on you, they pay the rest. You can make that on 1 policy. Then your first mortgage is 600, they pay the rest. Thats only 1200, in about (4 months for securities, 8-12 months for 1st mortgage) 12 - 16 months with additional income.

With this company being your own business owner means you take vacations when you want, because of how you get paid based on your training abilities, you still get paid on those days off. This IS NOT a 9-5 Job. They do not offer insuarce, but if you are part time your other job should. The idea is once you get started you find what health insurance you want and buy that. The trips are INCENTIVE!!!! If you do what you are suppossed to, you qualify anyway, so why not?

Not to mention this is NOT SALES, it is EDUCATION on money, if they need it you help, if not you have given them priceless information and a pat on the back for doing what it is that they should with their money to secure their future. These are not strangers, these are people you do Christmas and Thanksgiving with, FAMILY. Why would you give them something that is going to screw them?
 
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