New York Life Reviews

Updated August 26, 2014
Updated August 26, 2014
723 Reviews

3.3
723 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
New York Life Chairman, President & CEO Ted Mathas
Ted Mathas
422 Ratings

Review Highlights

Pros
  • They provide a great training ground for how to sell and scripts to use when selling (in 48 reviews)

  • Their compensation package is excellent and they have a superb I mean superb training program (in 27 reviews)


Cons
  • Be prepared to hassle friends and family to buy useless products (in 32 reviews)

  • No base salary (you will invest in the company before they invest in you) (in 26 reviews)

More Highlights

194 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Just Ok

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New York Life full-time for more than 8 years

    Pros

    Work/Life balance. Very stable company.

    Cons

    Very few growth opportunities unless you are working in the home office in NY

    Recommends
    Positive Outlook
    No opinion of CEO
  2.  

    It is very hard if you don't know a lot of people in that city you are trying to sell.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Austin, TX
    Former Employee - Anonymous Employee in Austin, TX

    I worked at New York Life part-time for more than a year

    Pros

    Diversity, the potential for growth, the curriculum, and the company values

    Cons

    Compensation is much to be desired. You have to work VERY hard for your money. The training is great and all and gives you the tools to go out there and make money but that is the problem. Given that people aren't sure what they even want to eat for breakfast are the same people you're trying to sell to.

    Recommends
    Neutral Outlook
    No opinion of CEO
  3.  

    Financial Service Representative

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Professional  in  New York, NY
    Current Employee - Financial Services Professional in New York, NY

    I have been working at New York Life full-time for more than a year

    Pros

    If you are looking to gain experience dealing with a people professionally and expand your networking skill, Yes this is Great way to gain it. But only for positive and outgoing personalities

    Cons

    you invest a lot of hour building your client pipeline. Also expect to work more tanth 40 h a week.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
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  5.  

    Great opportunities, but limited support

    • Comp & Benefits
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    Current Employee - Agent  in  Austin, TX
    Current Employee - Agent in Austin, TX

    I have been working at New York Life full-time for less than a year

    Pros

    If you have lived in the same place for a long time, and have a large and strong relational network you have the opportunity to make a lot of money. The company does its best by its clients, and the people who work here (for the most part) are in the business for the right reasons. Lots of people have been with the company 20+ years, which says something about the company.

    Cons

    Agents have a pure commission compensation structure.

    Advice to ManagementAdvice

    For all the resources devoted to agents, a small base income for the first 3 months would probably allow you to keep talented agents who struggle in their first 3-6 months to get established.

    Doesn't Recommend
    No opinion of CEO
  6.  

    It was great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at New York Life full-time

    Pros

    Company provided really good start up opportunities

    Cons

    There is a lot of self learning involved.

    Advice to ManagementAdvice

    focus more on entry level

    Recommends
    Positive Outlook
    No opinion of CEO
  7.  

    Executive Council Agent

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Executive Council Agent
    Former Employee - Executive Council Agent

    I worked at New York Life full-time for more than 3 years

    Pros

    Good professional culture and atmosphere. Company history and strength play a big part of the sale. Momentum and confidence are established early.

    Cons

    Training program although thorough, had been too rigid at times and as career progressed was mundane. Difficult to keep the ball rolling if the referrals don't come through. Can be tough, up and down, road. Be ready for this if you are going into insurance.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    Better want it.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Professional  in  Chicago, IL
    Current Employee - Financial Services Professional in Chicago, IL

    I have been working at New York Life full-time for more than a year

    Pros

    Uncapped earning potential and freedom of schedule

    Cons

    No salary only bonus incentives

    Advice to ManagementAdvice

    Make sure you have the right partners in place

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  9. 3 people found this helpful  

    Worst career move of my life

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Agent  in  Los Angeles, CA
    Former Employee - Agent in Los Angeles, CA

    I worked at New York Life full-time

    Pros

    Very strong company with the strongest financial ratings, one of the best at what they do, they've been in the business for 168 years, good training and compensation (if you are actually managing to get appointments and sell life insurance or other financial products), benefits.

    Cons

    100% commission. This type of business is not for everyone. A lot of agents are starving, broke, or close to losing a lot of their assets which is quite ironic considering that agents give financial advice for a living.

    Your life is consumed by hunting ALL THE TIME everywhere you go (family parties, social gatherings, etc). EVERYONE is a suspect/prospect for business. Everywhere you go, you are thinking about networking to get those people to become your clients. It can become overwhelming and you reach a point where you're not always being genuine, but just in it to build your business (and help others in the process - because you are really helping others with your services IF you truly know what you're doing).

    Once you lose momentum in this business, you better work twice (or triple) as hard or prepare to be faced with one hell of a challenge to get back on your feet. This business is brutal. You truly have to go hard in this business. No slacking of any kind.

    They essentially own you for the first 3 years of your contract with them. If you have a creative side and dabble in any type of outside business activity, they will decide if you are "hire-able". If you are, you must sign a form that lists what you can and cannot do in your hours outside of work. They dictate how much time you can devote to other activities that could potentially lead to outside business.

    You CANNOT work another job while you work here as an agent. So if you decide to work here, you MUST have enough money saved up to carry you through stormy weather, because YOU WILL go through it. EVERYONE does. If you don't have money saved up, make sure you have another form of supporting yourself.

    Advice to ManagementAdvice

    Encourage new agents to shadow seasoned agents, be open about production requirements from the very beginning, If you see an agent struggling, DO SOMETHING to help!

    Recommends
    Neutral Outlook
    No opinion of CEO
  10.  

    Former Agent

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New York Life

    Pros

    Great company with great products and services.

    Cons

    They let you fend for yourself, little in the area of support and growth for first year employees.

    Advice to ManagementAdvice

    Make it less about numbers and more about growth and development. You will get more in the end.

    Doesn't Recommend
    Approves of CEO
  11.  

    Ask lots of questions before you make the plunge to this company or the industry in general.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Representative  in  Chicago, IL
    Current Employee - Registered Representative in Chicago, IL

    I have been working at New York Life full-time for more than 3 years

    Pros

    The hours are somewhat flexible. Compensation in theory has no ceiling. The training is continuous, top notch and always encouraged.

    Cons

    The biggest disappointment for me is the lack of any sort of leads from the company for it's sales force.

    Advice to ManagementAdvice

    Stop nickel and diming your employees for everything, from desk space to
    I.T. support

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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