Inside scoop on Primerica..

Discussion in 'Community Discussion' started by senseibiz, Feb 12, 2006.

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  1. senseibiz macrumors regular

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    #1
    Does anyone outhere know anything about this company.. I have people calling my house and trying to recruit me... telling me that I will be making thousands of dollars a year working only partime.. imagine what I can do full time.. anyway, does anyone know what they are talking about..

    Thanks..
    Sensei
     
  2. senseibiz thread starter macrumors regular

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    #3
    Thanks for the reply, but that's not what I'm looking for.. Is there anyone outhere that knows what these people are talking about... they are telling me that If they recruit me. I can make alot of $.. How legit are they. They want me to come to one of their seminars and then if I want to persue a career with them I have to pay them $199.

    Thanks,
    Sensei
     
  3. CanadaRAM macrumors G5

    CanadaRAM

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    #4
    Primerica sells investments and mutual funds (and maybe insurance), and the job would be commission sales - basically hitting up your family, friends and acquaintances to buy investments. It is a fine way to reduce the number of friends and family you have (who are willing to talk to you).

    Any reputable business does not charge you for training or to "apply" for employment. Run away.

    I would also contact the Primerica head office and see if it is their policy to charge prospective employees a fee. Chances are, these are scam artist trying to shake down gullible people for $199. If the company responds in the negative, contact your local police.
     
  4. mkrishnan Moderator emeritus

    mkrishnan

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  5. njmac macrumors 68000

    njmac

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    #6
    really? wow, their website looks really professional and solid. Although the paying money to start working does sound really bad.
     
  6. senseibiz thread starter macrumors regular

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    #7
    More info please, I thought pyramids where illegal...
     
  7. mkrishnan Moderator emeritus

    mkrishnan

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    #8
    Heh. So they have a professional website. ;) Nice. Well... I mean basically that, it probably is possible in principle to make money by selling the insurance policies or whatever. But the goal is to move into the position of giving the seminars. And then they doubtless have people giving seminars to seminar givers. It's ... you're basically part of a large infantry of cheap labor, because you *pay* them at first, and they don't give you anything unless you're successful. It could turn out alright for you. Never know. But good luck with that, and count me out.
     
  8. furryrabidbunny macrumors 6502

    furryrabidbunny

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    #9
    Lol

    I have a friend that started doing this about six months ago. He claims to make about a grand commission per sale, and it is barely not a pyramid scheme. Only reason it isn't is because you can technically get above people if they suddenly stop working. Thing that makes it close to one is you make commission off of people you sign up, thats why you have very excited people calling you. I went to a meeting with him, left after about 20 minutes. I found it to be a total joke. Its great if you want to go around and basically whore yourself, thats what my friend has to do. Everyone he comes in contact he tries to "network" with. As far as I can tell, he basically has only worked with people he has some sort of a connection to. He claims to be buying a house soon (he is only 19), but he still works as a pizza delivery boy, so I take everything with a grain of salt. BTW, it is owned by Citi Corp if that means anything today, seeing they buy anything they can get their hands on.
    So its good if you know a lot of people and dont mind ruining friendships and selling products like insurance and funds, but keep in mind, you basically devote your life to that, spend every moment seeing if you have a customer, spend every minute thinking about money is some fashion. Really think hard. The meeting had a cult feel to me more than a scam. My friend actually dropped out of school to do that crap. Scary.
     
  9. furryrabidbunny macrumors 6502

    furryrabidbunny

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    #10
    You do pay a couple hundred up front, that bothered me too, but they pay you back for it (at least my friend said he was paid back in full). It is to pay for 'licenses and classes.'
     
  10. mkrishnan Moderator emeritus

    mkrishnan

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    #11
    Cue porn music! :eek: ;) :D

    Yes, okay, technically true. Not enough of a pyramid scheme to be illegal. But if you meet the people who do this sort of job...it's like Bunny here says. It's just... not right. :(
     
  11. senseibiz thread starter macrumors regular

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    #12

    Is your friend still in it....
     
  12. njmac macrumors 68000

    njmac

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    #13
    those networking jobs are the worst of the worst. You're always trying to recruit people and the people who recruited you will fill your head with all kinds of crap... like "don't ever listen to friends and family who view your new business with negativity" I PROMISE you, someone at one of the seminars will say that to you. They make it seem easy but its really not and very few will ever make a substantial ammount of money.

    If I were you, I would stop thinking about it and don't let them hook you.
     
  13. furryrabidbunny macrumors 6502

    furryrabidbunny

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    #14
    Yes... and very "happy." I dont buy it one bit. He is about to waste is life... such a shame... smart man (books smart as you can tell). Dont do it... it really isn't worth it. Wish I could offer more, but I've never personally done the job. Lets just say dont drop out of school for it or quit whatever job you have now.
     
  14. furryrabidbunny macrumors 6502

    furryrabidbunny

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    #15
    The Guy at mine made some really bs way out there statement. Dont remember the exact wording, but all I can remember is it basically equated to him saying if you dont do this your going to be unsuccessful at life and poor. He also made way too many metaphors with waves. "Catch the wave" Drove me nuts. I went with my friend who was doing it and I brought along one of my friends. They were very annoying and wouldn't leave us alone. In the parking lot they kept coming up to talk to me and my friend that I took. Got so bad I shot one a look and told him we were having a private conversation and he should think about walking away really fast and leave us alone or he woudl have a problem.
     
  15. senseibiz thread starter macrumors regular

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    #16
    Thanks to all, it seems that there are negative things about this so called money making job....
    next time they call I will let them know to take my name of their list..
     
  16. ~Shard~ macrumors P6

    ~Shard~

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    #17
    These guys know nothing about investing. They just try and get you and your family/friends to buy mutual funds which they get kick-backs on from mutual fund companies - not because they are necessarily the best funds out there. I interrogated them quite well once, asking about flow through entities, income trusts, convertible debentures, options trading, and the stock market in general and they were clueless - I was talking circles around them. That's not the kind of company you want to have anything to do with when it comes to you, your friends' or your family's money.

    I can put a better investing plan together for you - and won't charge you anything or force you to recruit other people. ;) :cool:
     
  17. Abstract macrumors Penryn

    Abstract

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    #18
    In a way, every business is a pyramid scheme. It's all hierarchial anyway. And if you perform poorly and don't make them money, you're out.

    I was about to do this sort of work 4-5 years ago, and I don't think they charged money for training. That would be a bit dumb, I think. However, the guys who do this really don't know what they're doing. That's why they would hire someone like me. :p
     
  18. GuidoMac macrumors newbie

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    #19
    One phrase I hate: everyone is entitled to their opinion. Are they? Maybe just intelligent opinions.
    Primerica is the real deal. Everyone NEEDS life insurance and good investments toward retirement. Most companies push products that just make the company a lot of money, and the salesman(NOT a "financial advisor", as they like to call themselves) a large commission. Not Primerica. The whole reason Primerica started, was because the founders parents got ripped off. Most life insurance is a scam, that's why this company started...to take on these powerful fat-cats with an army of common people like you and me, who want to make a difference in our own lives, and the lives of our family members and friends and neighbours. Is it a Pyramid Scheme, as some have suggested? Let me ask you a question. Do the people you work with serve under one boss at the top? Do you ever have a hope of having his/her job? Does he/she make money from the work YOU do? A pyramid corporate structure is the main foundation in a capitalistic society. They are everywhere, all around us. However, "Pyramid Schemes" are illegal, and have been outlawed for decades.
    Am I a Primerica rep? You betcha! Do I feel offended that I was "recruited"? No way, because I now have a CHANCE to be my own boss, and get out from underneath my crummy boss at my crummy job, doing great things for good people.
    Pay money to start? Some jobs are like that. Try getting a Real Estate licence for free. It's a regulated industry; you NEED to be a professional. Same with financial services. At most companies, the TEXTBOOK costs $300, and the course itself is almost a thousand more. So what do you think about your $199 now? It's just a fee that takes care of the initial paperwork and processing. Primerica pays the rest. And, If you change your mind, you may get a refund.
    Not everyone wants to work, and it is those people who quit and whine that it's a scam, etc, etc.(personally, I'm surprised to find that on a Mac site...I thought we were better than that).
    So, if you are a hard worker, and you know you would be a better boss to yourself and others than your current one, give it a shot. You could change your financial family tree forever!
     
  19. rhsgolfer33 macrumors 6502a

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    #20
    You do know that most companies will take care of those fees for you right? I don't know any insurance agents, real estate agents, stock brokers, or CPAs that covered their own testing and lisencing fees when they were already working for a company in the industry (although I'm sure there are some out there). Charging you for processing fees and such upon entering a job is definetly a tipoff for a scam or shady business, especially since you're probably not taking any lisencing tests and the like upon entering this "job."
     
  20. mkrishnan Moderator emeritus

    mkrishnan

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