Charles Schwab financial advice
in Banking, Insurance & Loans ·
Charles Martin31 said:So, I actually went to an Allianz seminar because this girl from my college wouldn't stop raving about them. They had their big regional director there—the guy who basically runs the whole show for the US. Here’s the reality: if you want the actual truth—like how they really make money, what my actual paycheck would look like, or what the day-to-day job even entails—you have to read between the lines. They spend the whole time talking up massive commissions, rapid promotions, and constant travel, but underneath all that gloss, it’s just pure exploitation. Most people at the seminar looked completely broke. The advice they give is so incredibly shallow; honestly, I was doing better market analysis than that during my freshman year of college. Their partners are mediocre at best in every single category, which is exactly why they use a company like Allianz as a partner—just to use that polished image to lure in some clueless person. My advice to all students out there? Just don't. Unless you are absolutely desperate, stay far away.
And let’s be real, those income claims are total nonsense. In all its "glory," the US branch of Allianz only has about 11 employees, and the average net salary is around $4,500. And keep in mind, we're talking about the leadership here.
1. I don't know exactly what your friend from school told you about Allianz.
2. Partners are mediocre across the board??? Citibank and JPMorgan Chase are mediocre in their fields, so who's supposedly at the top?? Silicon Valley Bank???
3. You said: ...my advice to students is no, unless they REALLY have to... My advice to students is NO, unless you have another source of income, because for the first few months, your commission is mostly going to be a couple hundred bucks.
4. Earnings are a lie?? Tell me, in what other job can you become a director in 5 years??? Assuming you start from zero—like, say, working a register at a grocery store (no offense, just an example)—how many years until she becomes a director if she works hard and moves up? How many years?? 1, 5, 10, 100??? Or is it impossible? In this business, you can be a director in 5 years if you put in the work (not saying work 24/7 right now) and your pay scales from zero to the moon.😛