Pros
Prudential is a well-oiled machine. They are compliance driven and anything having to do with processes is managed with timeliness and efficiency. They have some of the best benefits in the industry. Health, dental, vision, life, LTC, 401K, company sponsored retirement plans, and more. The have online and in person training 24/7. If you have the ability to hang in with them for the first four years, you should enjoy a lucrative and satisfying career. This is a great job for recent graduates who have minimal overhead, anyone with a strong desire to enter in to the lucrative financial industry,or an energetic well-connected retiree who wants to start up a second career (although it's grueling the first two years). Prudential is a well known and respected company and most people already know and trust 'The Rock'. For the most part they have remained above the fray and are on a seriously strong growth track financially. They have great products, and agents have access to numerous non-Prudential products so you can represent a wide range of options. The good thing about that is you have vast resources, the bad thing about that is you have endless options which can be overwhelming until you learn how to access the right people and resources to help you provide the right solution for your client. It's all available to you, you just need to be able to sort through the endless amount of information quickly and tirelessly.
Cons
To get hired with Pru you have 26 weeks to acquire your Life & Health, Series 6 & 63 licenses and you must sell $5000 of GDR (policy totals and at least 5 sales) before you are considered an employee and this will be at your own expense. There is an initial Intelligence Profile test which is extremely challenging and takes over an hour. Depending on how you score, they can apparently determine how well you'll do with passing your exams and succeeding in the business in general. I scored 87% which was considered high but many score in the 50%. Anything less than 50% is generally not acceptable. The exam process is brutal, with Life & Health being the 'easiest' to pass, and the 6 & 63 the toughest. Many people do not pass the first time, and they will only reimburse you the first one. You are responsible for paying for all exam materials and all other costs until you finish your requirements and at that point they reimburse you quickly. Many people do not make it through this process especially if they have financial pressure or work full time. It is extremely time consuming so be prepared to sacrifice a few months of your life. After filling out a detailed application listing every possible job and place you've lived and disclosing anything negative in your financial or personal history, they will do a thorough background check before the SEC does a criminal check and fingerprinting. To hold a securities license you must bare your soul. But the good news is, they understand life happens, so just be honest and communicate and hope for the best. While you're doing all of this they have what are called 'PLN's' which are endless and can feel overwhelming. They are basically online education about everything having to do with the highly scrutinized securities industry. Some are quick and easy to get through and many are not. You will read about products and ethics and on and on, finish with a short test and then it's filed in your information. It's a way for them to protect themselves and to provide intensive training. You won't learn much from them because you need to get through them so quickly and there are always hundreds more no matter how many you manage to do and time is always of the essence with Pru (good time management skills are imperative). After you've finished all of this and graduate to a full time employee, you are paid on commission. You start out with your $5000 GDR (usually 45% of GDR depending on the product you sold) and they put all commissions in a 'bucket' to be dispersed in equal amounts ($1200 every two weeks) unless you go over the $4800 minimum in you bucket. They give you quotas which are very high but do-able, and if you reach your quotas they have very generous bonuses. Pru will give you 'orphan ' leads in return for certain expecttions. These are people who haven't had an agent in years, have probably already been called, and are generally far away, but they are warm bodies with some potential for a sale. You are expected to make hundreds of phone calls every week and you should have 12 to 15 appointments per week. They also want you to brand yourself in your community so it means going to network meetings, church involvement, charity work, etc. They teach you to have an 'elevator speech' and so every person you meet is a potential 'client'. You need to be able to talk to strangers and try to sit down with them for coffee and put them in your ever growing pipeline for follow up. They are in the process of switching to SalesForce which is free, but any regular contact like newsletters, advertising, marketing, etc. is paid for by the agent. They have lead programs where you can buy leads from them but you may or may not ever get any leads. A good way to find people wanting to buy insurance right away is by purchasing leads from independent companies. The cheapest leads ($10) will be shared with 3 to 5 other agents so everyone is calling the client who just went online for a quote, or exclusive leads which are upwards of $25 per lead. They have a higher closing ratio and can get you to your bonus goals which theoretically pay you back your investment. In a nut shell, you need to determine if this kind of job is a good fit for you. It will be probably the hardest job entry you'll ever experience, but that alone can be rewarding. It's a good long term career, or a good stepping stone if you have the fortitude.