What Northwestern Mutual does: Northwestern Mutual provides professional advice on wealth and asset investment, education and retirement planning, financial planning, private client investment, and investment advisory aid.
Mission: Northwestern Mutual aims to build financially resilient communities through the diverse and expert financial support they provide.
Size and Presence: Northwestern Mutual currently employs around 5,900 individuals in 46 locations within the United States.
Best Known For: Ranked among the most admired companies by Fortune, Northwestern Mutual sets itself up to guarantee exceptional customer experience and do what is right by customers always.
The good bits: Representing a friendly and laid-back environment, Northwestern Mutual takes care of its clients and employees allowing everyone to grow at their own pace.
The not-so-good bits: To maintain its top position among insurers, the company demands consistently high-level execution which may require employees to consistently raise their ceiling.
In March 1857, Northwestern Mutual was founded in Wisconsin. In 1864, Northwestern Mutual paid portions of its dividends to policy owners. Since 1872, the company has continually paid dividends.
In the early aspects of the 1900s, the insurance company focused on life insurance. The company also improved its transparency allowing policy owners to look into financial operations across the board.
Northwestern Mutual began large-scale investment in minerals marking the first of such investments by an insurer. From offering disability insurance in 1969 to expanding its services and options in 2001. It also launched other subsidiary services.
The company continued to expand and as of 2021, its asset portfolio was worth around $308.8 billion. It also racked in $31.1 billion in revenue and life insurance of around $2 trillion. They currently cater to 4.75 million clients with a plethora of services.
The culture and values at Northwestern Mutual foster inclusiveness and innovation. They believe that to serve their clients effortlessly, they need to inspire their employees and give them a chance to be better every day.
Northwestern Mutual hones the attributes of a diverse workplace embracing the things that make everyone special.
The vibe at Northwestern Mutual is generally laid back and friendly with everyone growing at a wonderful pace. Everyone is represented with their ideas and opinions gaining a special place in how they run affairs.
The hiring process at Northwestern Mutual reflects the culture the company holds dear. Graduates and interns can navigate through vacant positions on the career page. Career positions at Northwestern Mutual range from Financial representative, financial representative internships, and corporate.
After filling out tailored applications, candidates and interns are invited to participate in the interview process. Candidates are exposed to a range of assessments that test their industry knowledge and familiarity with roles.
The recruitment process at Northwestern Mutual gives candidates first-hand induction into working with the company and understanding the values they hold dear.
Northwestern Mutual encourages graduates and interns to envision their career paths from the start. They ensure work flexibility to allow employees to invest in their passion and follow their curiosity-guided growth.
Internship programs at Northwestern Mutual provide the ideal entrance for students into their career choice. They also provide an ideal customer base to give interns a feel of working for a Fortune 500 company. By providing compensation-oriented earnings, they challenge graduates and interns to explore new heights in the company.
Employees at Northwestern Mutual earn an average of $97,802 annually while interns earn around $78,754 per year.
Northwestern Mutual places philanthropy in center-stage in its efforts to give back to the community. Charity begins by ensuring liveable environments in the communities they operate.
Key among their contributions is their Childhood Cancer Program where they provide substantial contributions to cancer research. Since 2012, they have offered over $40 million in support funds to families undergoing cancer treatments.
Northwestern Mutual also claims to offer scholarship opportunities to victims of childhood cancer.
Employees at the institution are also provided with volunteer opportunities and supported in ways they’ll like to improve their communities. Over 33,000 hours have been dedicated by employees to volunteering opportunities so far.
In 2020, the brokerage part of Northwestern Mutual was fined regulatory charges of around $350,000. These fines were proffered after records showed that one of its independent brokers stole over $500,000 from its former clients.
It was alleged that Sampson Pearson, an independent contractor falsified tax returns from 2005-2016 to truck Northwestern Mutual clients. A customer put Northwestern Mutual into Pearson's fraudulent ways and this led to an investigation of the broker. The company was fined for a weak supervisory system and elected to pay the fine despite not being involved in the crime.