Feb 23, 2015
Prudential reviews
3.7
67% would recommend to a friend
Andrew Sullivan
64% approve of CEO
60% positive business outlook
Prudential has an employee rating of 3.7 out of 5 stars, based on 5,222 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Prudential employee rating is in line with the average (within 1 standard deviation) for employers within the Finanzas industry (3.7 stars).
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Reviews by job title
5K reviews
3.0
Sep 28, 2014
Great if you're either amazing at sales or you already have a book of clients.
Current employee, more than 1 year
Shelton, CT
Recommend
CEO approval
Business Outlook
Pros
Very good benefits once you become a full time employee. Franchise Model - I knew a number of agents who were able to achieve success and essentially had their own business after a relatively short amount of time with the company (2-3 years) If you can achieve a certain level of success the compensation model is excellent. You basically make your own schedule. If you've a fairly active client base and comfortable selling to them you will do very well. If you're talented or well versed at cold call sales you can do very well. Person experience and pros: I wanted to transition from a career I was very unsatisfied with and I Interviewed for a few sales job and accepted this one with no pay until I made 5 sales within six months. I also had to complete 3 licenses and the company training. Seems easy enough, right? Nearly bankrupted myself until I had a number of sales hit weeks before the 6 months was up. I was pretty good at selling life insurance, however LI doesn't pay very well unless you're selling massive, expensive policies. I had a few great months and a few horrible ones. I decided I didn't have nearly enough money in my coffers to succeed at this job with risking financial ruin and used my experience to get a more stable sales position.
Cons
No base salary and you're spending your own money for gas with no reimbursements. Difficult job if you don't know many people with money or in the need of your services. You'll end up hustling your friends. If a sale falls through at the wrong time you'll end up in the hole for your pay. Life insurance is something people are not willing to spend a lot of money on so I didn't make too much. The real money in this job is in investments and annuities. I was able to partner up with some very talented agents and make some decent sales with decent commission checks. I ended up taking a few weeks off for personal reasons (totally scheduled and expected) and I was unable to recover and was not willing to work for zero compensation and still be expected to pay for my gas to go on appointments.
2.0
Sep 29, 2011
Recommend
CEO approval
Business Outlook
Pros
-Reimbursement for licensing and certification courses is available. -Bonuses in the first year are very good, but hinge exclusively on sales activity. -Strong product and sales training are a mandatory part of the job. -Good commission rates on variable annuity sales can lead to big paydays, if you find the right client. -Company history and branding help reps with building client relationships. -Limited matching of marketing expenses helps lighten the expense burden, which is otherwise very significant. -There is tremendous flexibility in when, where and how you perform the role, especially if you're putting up decent numbers.
Cons
Where to start.... -No base pay, even though you sometimes spend a considerable amount of time servicing the needs of orphan clients, effectively providing client retention services to corporate. In my opinion, the lack of a base also incentivizes less scrupulous agents to make unsuitable recommendations, especially with regards to annuity sales. -Compensation structure is mind-bogglingly confusing to most new reps, especially with regard to the first-year support credits. -Absolutely no help with start-up costs; if you want an extra pen and some paper clips, be prepared to pay for them. Likewise, no transportation expense reimbursement, so when you drive an hour and the client doesn't pull the trigger, you lost both the sale and the gas money. -Training and support exercises are good at first, but become tedious, repetitive and time-consuming as you get into the role, but attendance is still expected. -Trail commission rates on life insurance are pretty rough, meaning new business is the only way to make serious money on life insurance sales. -Partners for P&C may have poor rates, depending on the state you're in, making it hard to build a renewal stream. -Maximum draw amount is set very high for new reps, meaning you have to hit some pretty solid numbers to take home more than the minimum draw. -Management support can be spotty and the company provides very few quality leads to new reps. If you don't have a natural market and/or the initial capital to buy leads, it's a really uphill battle to keep your draw account from emptying.
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