Year-round internships gain in popularity, not just for summer anymore
The interns are here! The widespread roar heard in the halls of companies across the country in the summer. Not anymore. This past December, Northwestern Mutual - Chicago welcomed 14 area college students to their top-rated financial services internship program.
An early adopter of the year-round model, members of Northwestern Mutual-Chicago's Internship Team say a year-round program is a win-win for students.
"With more time exploring the career as a financial representative, students can get the full benefits of our program," says Jeannie Andresen, Assistant Director of Campus Recruitment at Northwestern Mutual-Chicago. "Not only do they receive training that provides them the basis for the real life experience to develop a financial plan for clients, but they can also take advantage of specialized studies that lead to professional designations, something that gives them a jump start on the career."
On average, two out of three students turn their internship into a career. Andresen says this is due in part to the ongoing training that helps them build a solid foundation of knowledge in finance, insurance, and sales concepts, coupled with mentoring and coaching.
"It's also about cultural fit," she adds. "When a student is with us year-round they see us live our values on a consistent day-to-day basis. If we have a day of community service in the summer that's great, but when they see us continually working to give back to our communities and improve the lives of others, that is simply amazing."
Andresen acknowledges the financial representative career is not for everyone. Whether a student pursues the career as a financial adviser or not, Andresen says they will have grown through their internship experience.
Spring, fall or winter semester, her team works with them to balance the demand of work, school, and sometimes a collegiate sport. College financial representatives work 10 to 15 hours a week during the academic year and 40 hours a week in the summer and vacation times.
Students also expand their professional network through participation in team building activities, company meetings, and industry conferences.
While year-round internships are gaining popularity, that doesn't make them easier to obtain. Andresen advises students to start early on their search. The recruiting and selection process alone can take up to four weeks.
All too often May rolls around, and students begin to think about the summer. "Students should keep in mind that companies have been recruiting year-round, and if you wait until May your chances to start in June are very limited," she adds.
That said, students who are flexible and look at the year-round opportunity will not have to wait a whole year before gaining the experience they seek.
About Northwestern Mutual-Chicago
Northwestern Mutual-Chicago is a leading Chicago-based financial planning firm providing expert guidance to help clients manage financial risk and achieve financial security. Ranked one of Chicago's Best Places to Work for six straight years, according to Crain's Chicago Business (2009-2014), Northwestern Mutual - Chicago (formerly the McTigue Financial Group) provides career and internship opportunities to individuals who are committed to growing a successful financial service practice. The district office is located at 8600 W. Bryn Mawr. Further information can be found at rosemont.nm.com.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With more than $217 billion in assets, $26 billion in revenues and more than $1.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.2 million people who rely on us for insurance and investment solutions, including life, disability and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services.