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Hi all,
I have a offer from Perficient and joining in 2 months time. Question :
1: how is the company in terms of job security and projects? I work with web analytics
2: How is the hike and work life balance.
3: Attrition rate
4: Hike is good but will it be a safer vet like Accenture Operations?
Need some views from people working there.
Thanks in advance.
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As someone who never worked with them but have very close people that did, they are an MLM.. do they offer a legit product? Yes. Are they a good company to work for? Depends. Your income depends of recruiting people and selling policies, mainly recruiting.. and you’ll get commission only if the costumer kept the policy over 60 days (I believe, I’ve heard 30 as well but this was years ago). Is that a business model you are okay with, don’t care how you depend mainly on your friends and family members for constant referrals and don’t care about very fluctuating income? I can recommend you to try it for yourself, you don’t expect a 9/5 job with stability out of it because it’s not it.
Primerica is a legitimate company that's sells legitimate insurance (term life only) and investment products. However, it is also a 1099 multi-level marketing company, which means you get paid on 100% commission and you have to recruit a lot of people and build a team if you want to make any significant money. A lot of people think it's a scam, but it isn't. It is a legal business model.
The problem isn't that it's an MLM, it's in their deceptive recruiting practices. People go in thinking they are interviewing for a W2 job with salary and benefits only to find out what it really is after they arrive at the interview. Not all Primerica agencies have deceptive recruiting practices, but many do because they know most people wouldn't be interested if they knew the business model before coming to an interview/presentation.
The other problem with Primerica is many of their agents don't know what they're doing. One reason is because they spend more time recruiting than training because everyone wants to build a big team so they can make money. The other reason is because most of their "training" sessions are really pep rallys to keep everyone motivated. Some agencies may have proper training but many don't.
Again, Primerica is a legitimate company with legitimate products. If you understand the business model, have an entrepreneurial mindset, and think you would enjoy recruiting, then consider it. However, if you're looking for a traditional job, this isn't the right opportunity. Although, you can do it part-time as long as it isn't a conflict of interest with any other employment you have.
By the way, other major insurance companies (NY Life, MassMutual, Guardian, etc.) are MLM too. However, they're structured in a way that allows you to be successful as a solo agent or by building a team. Primerica is much more dependent on building a team.
I hope this helps!
Just to clarify here for everyone what the difference is between an a MLM and an IMO. A MLM is anything you have to make an initial purchase into the program to get started it is usually a large amount and that amount the MLM will only benefit from. Examples of MLM are Amway, Avon, Mary Kay, Color Street, Stella Dot, Pampered Chef. Anything that you need a kit inorder to show the product in order to sell, a starter set. On top of that you have build a team as quickly as possible in order to sell more starting kits to warm market friends and family first then your to your "party guest" next. Conversely on the insurance side or IMO side you do NOT buy a starter pack. You are a 1099 contractor which it sounds like to any w2 is very scary and I understand that. The main difference is the persecution of how will I be paid? Simply put you work consistently! A steady amount of calls will equal a steady amount of contacts and that will result in appointments and if you have learned your product and learned what the client needed and what they qualify for than a sale! The major players in this space are Primerica with their friends and family model, WFG, FFL, Symmetry Financial Group. I would evaluate who has the best carriers available, who has the best leads available (always a invested item by you so are you getting a 4x return or 10x return?), who has best training, who has best culture and who has the best it systems developed.
In my organization I see people who make 5k a month 10k, 26k, 76k 179k 288k so it is really up to you and your goals. Don't let 1099 scare you, people are very successful here if you are in the right IMO.
One of THE BEST explanations I have seen anyone give. I am going to have to take that from you and use it as there are so many negative people out there. I work in WFG and haven't had to purchase anything other than pay for a background check and get my license. But those benefit me as well in case I want to do something else. That has lead me to do other things lime debt help, student loan forgiveness, ERC for W2 businesses and SETC for 1099s, health care coverage. I am my own boss. I set my own times. I do what I want when I want. You just need to be organized and responsible enough to make sure you work hard for yourself, as opposed to working hard for your boss in a W2 employment.
It's a minor miracle they are still around. Don't do this to yourself.
I heard bad things about that company
Decline
Pyramid scheme
Run.
it's commission only. they sell good products, but you always have to find ppl to join. so that's annoying.
Got conned into this after college since I had a finance degree and was looking for a starter role. It depends on your goals, but as mentioned it’s a MLM company. If you wanna annoy everyone you know to get them to join you, give this a go lol.
Pro
Nope
I have heard really bad things about them and this whole thread seems like that is completely true. I looked at the reveiws on glassdoor and they aren't great either.