I'm just going to keep this short and say this was an obvious scam from the moment I walked into the office and I would have done more research before hand but since it was through my career services at my University I trusted it.
I woke up at 6:30am to get to Woburn at 9:00am from Boston. When I got there it was a new building, looked really fancy, and I saw the First Investors had rented an office out in room 5700. Upon entering, it was sketchy. Like I've read in other reports, their were only three people there and no other employees. They asked for my resume which was legit but then I went to a room with 10 or more other people around their early 20's and probably recent graduates.
We then sat and listened to a guy with gelled hair who looked like a jersey shore clown with a suite on. He told a couple corny jokes to ease tension and then stated that the job was "building your business from the ground up", "100% commission", flexible "which could be good and bad for some people" (in his words). From my experience, if your a financial company that is actually doing well and has a product that is actually selling, your employees get base salary and commission or at least a stipend and commission, and that's even during INTERNSHIPS! NOT EVEN A FULL TIME JOB!
So that brings me to the juicy stuff. They hand us an application which says its an application to become a registered representative and the "representative" says you can choose to stay and fill it out and then we will separate you into individual sessions or if you don't think its a fit for you, you can leave. Of course when people hear this you almost assume automatically well they aren't trying to scam me, they just said I could leave so it must be legit! Bullshit! Unlike many others in the room, I read through the application afterwards thoroughly before signing. The part where my signature went said word for word, "upon signing you agree that you are an independant contractor of First Investors and NOT AN EMPLOYEE"! Yea... I don't think I have to say anything, I'm sure you can put two and two together.
And now for the Finale! To top it off, I actually look at their website again after I leave the office. First off they said the company started in 1930... Why is it that at the bottom of your website, it says it was created in 2010! So after 80 years you guys decided to build a website? Who are you trying to fool. Below that it says they are located at 110 Wall Street, New York, New York. The huge building with hundreds of businesses located in the financial district! So I look up the address online, fine the website for the building and not to my surprise. Guess what company was not even listed in the building. First investors! My report is done, take my word for it, if you see their name either look the other way or report them like i did. These f*cking scams need to stop!!
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