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Training program at insurance brokers - should I try?

I'm graduating with a BA in communication in May. I've been talking to this insurance brokers company that's located in my city for a bit and got a phone interview with them.

They are very transparent about not paying much. The lady I talked to said there's a three year training program that's organized in 3 phases. Phase one, for 6 months, I'd work at a service center, but mostly taking classes and getting insurance licenses. She said they pay for everything involved. After 6 months, I become a senior at the service center and train the new people, as well as work on proving myself.

If I do well enough, I'm promoted to phase 2. For this phase, I become an assistant for a new broker every 3 months. So for 3 months I'll be a P&C broker's assistant, then a Benefit Broker's assistant, then a Client Executive's assistant etc. This lasts 15 months.

Phase 3 I get to choose to follow the client executive path or broker path as a permanent position. This phase I mostly study to pass professional designation and get immersion experience. Once I graduate from the program, I get assigned to work on a team.

Start pay is super low - less than $30,000, then once I become a senior in phase 1 it's $30,000, in phase 2 it's $33,000, phase 3 $36,000 and after graduation $40,000 (although they say fully loaded with benefits it's $54,000). Also after graduation, she said there are team and company bonuses twice a year.

Benefits start from day of hire and are 4 weeks paid vacation/year, 14 paid holidays/year, 10 sick days/year, medical, dental, vision, 401k, FSA, life insurance, gym membership, valet parking, and I can't find anything about it online but she mentioned pension. It also requires a bachelors, which is what I wanted - a job that actually wanted my degree.

As someone with very limited experience (I only did 2 short internships in PR), should I go for this or look around? I'm able to live with my parents and plan to do that and save money for at least a year. The workplace is about 20 minutes away, but it's in the city so traffic may be really bad depending on my hours.

It's a smaller company so I was worried about growth, but the lady said they are doing this training program because so many of the workers there are old men that have been there since the beginning. They are all around the same age and all thinking about retirement. She said they decided as a company that instead of hiring brokers from outside, they wanted to train their own and build loyalty because I guess that's important to them. It only has 2 reviews on glassdoor, both of them positive.

Does this sound good for a new graduate? Someone in my situation that won't have to pay rent and has some financial leniency to allow me to experiment some?

submitted by /u/gomichan
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Training program at insurance brokers - should I try? Training program at insurance brokers - should I try? Reviewed by TUNI ON LINE CENTER AMBIKAPUR on मार्च 31, 2019 Rating: 5

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