Primerica High Hopes Deflated Internet California
THIS IS LONG, SORRY!
I received a voice mail about a week ago from a person saying she was from *mumble*merica and would like to discuss a recruitment opportunity with me. I had been looking for a job since July because of the economic downturn and it is always good to be prepared if I am laid off. This was the third call I had received since I had started posting my resume and applying for jobs online and I had applied at many places. I called her back and we spoke at length on the phone. She told me she was from *cough*merica and all about how I would do training (which I currently do at my job) and I would travel extensively (which I also do at my job) and I would be a manager (which I am not doing at my current job). She told me I would have to go for a "group orientation" at *hmm*merica before they set up the personal interview. This it not too unusual for companies to do because it helps familiarize the interviewee with the company. I agreed and was set up for the "group orientation" the following week. Finally, I managed to catch the name of the company: Primerica.
I was still unsure if they thought I was interested in starting my own business (one of the questions I was asked was "Are you interested in starting your own business?") or if they wanted to hire me on for a job to work with them. I figured I would go and see and if it was to give me a loan to start my own business, I would find some way to back out gracefully.
When I arrived there, I had to sign in and noticed that everyone signing in had to write down the name of the person that referred them. I was shocked to see so many different names of recruiters and alarm bells started going off. When I was seated with about 15 other individuals, they began. The first half hour was about what the company provides and how well Citigroup is doing and #1 on Forbes with $1 trillion in assets, blah, blah, blah. I thought it was a brilliant company in that it helped a lot of people and had funding from such a prestigious mother company. We were told that we were in the second stage of the three-stage interview process (phone interview, group interview, and one-on-one interview) and should feel honored that we made it this far.
Then, a red flag was thrown up. One of the speakers made mention how we are all in the Tech industry and that their company was looking for people "just like us" to join them to bring new ideas into the company because we all tend to "think outside the box". Now, wait a minute, I thought that I would be doing something "techy" at this company, not that I would be changing careers completely.
But, sure enough, they spent the next hour talking about real estate and brokers and how their company makes EVERYONE a broker in three years after they've been an agent. They went on and on about how much money can be made and how you can be "financially independent". I still wasn't cluing in that this was not a job interview yet. I figured this was just what some of the people in the company did, but they really wanted me for something else. They mentioned the $199 fee, but stated it is *reimbursed* once you've completed everything. This also is not unusual because it is a way of making sure you complete the class that they spend $1000 on for you. Many companies do this, so I still wasn't too suspicious.
After it was over, the main speaker came over to me directly and told me how she knew I had to return to work, but she would appreciate setting up an interview with me. I said that sounded great and she asked how 5:30 pm sounded, since I would be off work that time. I said that sounded good as well. Then she told me to meet her in the same city I live in (coincidence?). Yes, that would be fine. Then she mentioned meeting at a Starbucks that is literally around the corner from my house! I agreed and she reminded me to bring the "5-5-10", 5 years employment, 5 years residency, and 10 references.
As I drove home from the meeting, I felt really funny by what I had heard. It sounded too good to be true and the math just didn't seem to add up. Maybe I'm too analytical because of my job, but I decided to look into it and see what I could find out about Primerica before quitting my job.
I found this sight and immediately cancelled my interview for this afternoon. I told her I "had to go out of town on business" and I would get back with her when I returned. This was just in case if after reading all this, I still decided Primerica might be a good company to join. Well, I think I have just permanently moved out of town for good and won't call her back at all.
One website (who had investigated the income tax filings) even quoted that 95% of Primerica employees make only $850 a YEAR and 0.035% of the employees can be considered "independently wealthy". Not great odds.
Primerica seems like vultures going after the industries that have been hit by layoffs. I just feel really sorry for all the other computer-oriented people who might not be as wise because they have been jobless for such a long time and are willing to take anything that comes their way. This is an awful way to treat people who are already down on their luck and are used to $100,000 a year but are now seeing unemployment checks for $500 a month. Great way of bringing someone's hopes up and leaving them poorer than when they started out. this is definitely not my cup of tea; I might get poisoned.
Ivy
Internet, California
Click here to read other Rip Off Reports on Primerica
3 Updates & Rebuttals
Kim
Gilbert,Arizona,
Trek Alliance and Primerica are vultures.
#4Consumer Suggestion
Fri, September 06, 2002
NEWSFLASH.........
Almost EVERY person that I know has been contacted by Primerica. This should tell you something. Any company that aggressively hounds job sites (monster,hotjobs,etc) like these people do, that should raise a red flag. They have a HUGE turnover, and they have SO many people recruiting for them, tell me, if the company was so wonderful to work for, why are they ALWAYS hiring constantly and have been for at least 5 years now. For every 10 people they sucker punch into this job, 9 quit.
Anybody who is interested in working for these guys needs to talk to an employee of a legitimate investment firm and get an educated answer of how these people operate.
The fact is that a very small tiny percentage of people that work for Primerica might make a little money, the other 99.9% struggle and wind up quitting when they come to their senses.
I see these vultures have opened up an office in Mesa right off of 60 and Country Club. I automatically felt sorry for the woman walking in there, resume in hand, looking for a job. She'll be in the bread line in a few months.
Really sad.
BC
Portland,Oregon,
Another one wakes up to reality
#4UPDATE EX-employee responds
Thu, September 05, 2002
Ivy from CA,
How refreshing to read your account of your critical thinking process. I am glad for you that you missed the third 'interview' and it is entertaining to hear how they kept going back and forth between 'work for them' and 'have your own business'. I have since found out, you own nothing..not your clients accounts, not your sol'n number, nothing. YOu do own your own mind, and your free time and your current ability to work by the hour or salary.
If someone joins up with this company, you give up all these things. Sometimes I have felt that even as the team members I sat with were getting their hopes built up, to make thousands, at the same time, their self esteem was being eroded because of the above mentioned losses. Not to mention like the feeling that you must be a failure because people are not jumping at the chance to follow you (recruits), make appts with you(business for your uplines), or even associate with you(your personality has seemed to change, (you seem fanatical about a company and unlimited personal wealth), so week after week, you are facing the loss of true independence, loss of all the finances you put out for training, and therefore, perhaps a loss of self esteem.
But then, if you are under the spell, you do not see this, you know you just have these little nagging thoughts that leak into the trance state you are in...."why do I get the feeling that these people really care little for me and the concerns for my life?" or "It sounds like I would have to 'talk people into this opportunity' and learn to deflect their true questions and I could never do that...I respect people too much"
Thank God, literally, for the lights going on in your head, the trance state melting away, the real nature of the structure of this business being exposed,(how little it really serves people, client and drone)
Well thanks Ivy for sharing your suspicions and I wish you all the best as you continue to look for real opportunitie with companies willing to pay you for your training and experience.
I LOVED how you listened to attentively to the agent referring to his own great company, "mumble, cough, hmm...merica"
Sergio
Los Angeles,California,
My experience with Primerica
#4UPDATE Employee
Wed, September 04, 2002
You know its pretty sad that you would come to a conclusion about an opportunity on someone elses experience. I have been aN owner of my own business with Primerica since June and I must say they have delivered on all their promises because I actually TRIED IT OUT! All business have start up cost and profits are normally two to three years into the business. If you are seeking advice from lazy unmotivated something for nothing types of people you'll get those types responses where they complain about the work you must put in to be sucessfull. Primerica will deliver if you put in the work. I have witnessed third world country men and women with bad english but lots of determination that have exploded their financial situation becuase of this great company and all our products are legit and they do the rigth things for families. All our agents are licensed and regulated by federal and state enteties. It breaks my heart that less than 10 bad experiences reported on this website on a company that has been around for 25 years will change many minds of inspired individuals researching this company. I must admit I have come accross agents and offices that missrepresent Primerica, but the opportunity is the same. Get your licenses, help families, build your team achienve Financial Independance. This licenses are yours not Primerica's so the worst thing that will happen is you'll learn new skills and financial concepts, hang with positive success oriented people, get inspired to do something great for yourself and your family and possibly even discover a new YOU all at a cost of giving up your TV time. Come on, success is a challange just look around you many quit on the first HOT DAY! And QUITTERS NEVER WIN