I just wanted to give some input into to comments I have read about Primerica. About 95% of the complaints I have read, I agree with. I too had the inital interview today with Primerica (Citi Group - Parent Company). Unlike some of the previous posters, I have experience in the finance industry.
I was contacted on Friday 04/08/2005 by a Regional VP at the company stating they were opening new offices and they are considering me for a position in one of those new offices. I was not advised of the position, but considering my Financial backround, I did not give any thought to what I could have been considered for. As far as the financial backround, I worked for ligitimate financial institutions for loans for small businesses and open lines of credit.
I just went to the "First Interview" today. It consisted of 10 others including myself in a small conference room. I was introduced to the woman that contacted me and an associate of her's that was also conducting interviews that day. The other associate was a "soon-to-be" Regional VP. I met her first. She advised my original contact person was out of the office, then stated was in a meeting, then was told she would more than likely perform the interview since my orignal person was sick, initially! ?
My original person of contact came in after that after person had discussions of where I was from and another lady there that was sitting beside me. She sounded a little nasal, but nothing that made me think she was really sick, but whatever.
Some introductionist came to the head of the room and stated the process was about to begin. He introduced some guy that was going to be VP of the whole department of Finance, I guess. I never heard that kind of title he gave and the intro asked for a round of applause for this guy. OK? He stood up in front of the room for about 25 minutes talking about how he started with the company part-time and was making $1000.00 a month only working 5-10 hours a week. He did not mention what he did or the job desription. He stated after 4 years he would be VP of something making over $200,000.00 a year. (Sound Familiar?)
He then introduced some woman that was going to be a VP of something as well. I never heard of the job titles before, that's probably why I don't remember them. She went on stating she worked for Nationwide Insurance and left there to be a staff (public) accountant for Cardinal Health. She stated that was not fun and not financially rewarding so she started at Primerica part time, then moved to full time and now is on her way to being a VP to something.
In the time all three people were talking, they used a power point presentation about the company stating Citi Group has over a trillion in captial funds (not assets, but funds?) Then stated that Primerica was there to help people get on the right financial track with their mortgages, life insurance, mutual funds, etc. They did not mention the positions they needed, the description of the services such as interest rates, monthly rates, etc. If you are going to selling these products, wouldn't that be your main focus and the competative edge? Also, I was not aware I was being offered a sales position. My backround is Customer Service and Collections in the Financial End of Business Loans. (Co-Figure).
We were advised at the end of the hour and half presentation that there would be a fee of $199.00 to cover the state lic. fee and that would be refunded to us after our 6th sale. No mention of salary basis or commission basis, hours, or anything. At the end, the originator of my contact asked me to see her for an interview. I went into her office to which she had my resume. She asked about my last position and I gave her a brief desrciption. She stated that my resume was diverse and I looked to be a fast learner. (She had no idea!) She asked to set up a second appointment for later this week of Thursday. I agreed and she gave me an application to fill out and have ready for Thursday.
I went home and reviewed the application. It asked for general info of name, address, etc. But it asked for 5 personal references. 95% of the businesses, I applied for work for only asked for 2 to 3. It asked for backround info including felonies, misdemeanors, I you have filed bankruptcy?, If a bonding company ever dropped you, and if you are liscensed. It also asked for the last 5 residences you have had and the last 5 employers. There was not a place asking for a credit card number, like I read in other reports. They so far did not ask for money, and I am not going to give them that chance.
I just wanted to give a heads up of what is going on in my area. After reading this application, I decided to do my own backround check on this company. The research is not good. The owners have been in major trouble with FTC, suied, and lost previous businesses and financial opprotunities. Citi Group/Bank does not have the best reputation by itself, but if you have to pay money to get a job, there is something wrong there. A proper company pays for training and certification. Also a proper company would pay you a base with benifits of a comission package. This company recruiting is a scam, so please avoid them as possible. I just found this web site tonight and found what I read as very useful and thanks to everyone who warned others. I am sorry my report is so long, but I wanted to give as much info as possible to warn the next person.
Mislead in Columbus, Ohio
U.S.A. Click here to read other Rip Off Reports on Primerica