New York Life

  www.newyorklife.com
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New York Life Reviews

Updated August 13, 2014
Updated August 13, 2014
716 Reviews

3.3
716 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
New York Life Chairman, President & CEO Ted Mathas
Ted Mathas
420 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

149 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    The Company You Keep

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Insurance Agent  in  Ridgeland, MS
    Current Employee - Insurance Agent in Ridgeland, MS

    Pros

    I have worked with New York Life for some time now and, they are the most hands on company around for their clients as well as their agents and partners.

    Cons

    Relaying the importance to the clients how essential life insurance really is.

    Advice to ManagementAdvice

    Keep up the good work.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    A truly rewarding internship experience.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Licensed  in  Lutherville Timonium, MD
    Former Employee - Licensed in Lutherville Timonium, MD

    Pros

    Their internship program allowed you to immerse yourself completely in their business. At the beginning of the program you are challenged with the task of passing the State Licensing exam, and then from there you are fully involved in the business.

    Cons

    With the internship program, at times you are limited to the "advisors" that you are paired up with. This can be a good, and a bad thing. If you're matched with someone new or inexperienced in the field, your opportunity within the internship will only expand as far as their grasp.

    Advice to ManagementAdvice

    Have your Interns paired with financial advisors who are successful and experienced within the business.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Summer Intern

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

    Pros

    variety of work given to me

    Cons

    a lot of busy work/administrative work

    Advice to ManagementAdvice

    Give interns more relevant work

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    I love my job!

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

    Pros

    Flexible schedule
    Work life balance encouraged
    Great benefits
    Competitive salary
    Lots of room for career advancement
    Engaging work

    Cons

    No full time telecommute positions available yet

    Advice to ManagementAdvice

    Consider full time telecommute opportunities for employees. Lots of companies are going this route such as United Healthcare. It can be successful and a great way to continue to promote work life balance.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Great Company to work for

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Great training, great management, make your own hours

    Cons

    You must have people to call. If you don't have names to call you don't make any money.

  7.  

    Great place to wok but very challenging with discipline

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

    Pros

    Unlimited potential
    make own hours
    no boss

    Cons

    Straight commission
    finding new clients

    Advice to ManagementAdvice

    Help with finding new clients

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Excellent

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Agent  in  Scranton, PA
    Current Employee - Agent in Scranton, PA

    Pros

    Growth potential. Renewals are awesome.

    Cons

    This is your own business. So success is in your hands

    Advice to ManagementAdvice

    None

    Recommends
    Positive Outlook
    Approves of CEO
  9. 5 people found this helpful  

    Solid company and great career but need reserves to get started.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Agent  in  Bala Cynwyd, PA
    Former Employee - Agent in Bala Cynwyd, PA

    Pros

    Great training and partners really do want you to succeed (perhaps only because it helps THEIR bottom line), but regardless, do not listen to those who say partners don't care, because the better you do, the more money they make, so it doesn't make sense for them to bring you on and leave you to the wolves. Training is great, very knowledgeable partners and trainers, vibrant and fast paced atmosphere. Make your own schedule but initially expect to come in to the office quite a bit for training, etc.

    Cons

    It'll take awhile to get paid. You first need to get PTAS contract approved, then develop the business and place 5 life policies and $1500 in FYC before they will trigger you to TAS and pay you. In the meantime you are going to be spending money on gas and tolls to drive all over creation to meet with prospects, you need your own computer, in my case I needed to buy suits. During PTAS need to have some savings, a part time job, or a well off spouse/significant other to get rolling. Realistically give it 6 months before you can start supporting yourself. Will be hard work and long hours but if you enjoy the work it's not an issue. Must be thick skinned. You WILL be contacting friends and family, not necessarily to sell to but at least for referrals, so make sure you are comfortable with that.

    Advice to ManagementAdvice

    Only advice would be to add a signing bonus/base salary, even a minimal one. If I could have just broke even at first rather than going into the red to get up and running I'd still be an agent there. If you're looking for a career change this is a great place to start in this business, one of the tops in the industry in size and reputation.

    Recommends
    Neutral Outlook
    Approves of CEO
  10.  

    Positive experience, but didn't make money.

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

    Pros

    Great professional environment, great management and training. Wonderful opportunity for a high income career. Management is approachable and willing to help.

    Cons

    Income is 100% commission and takes time to become significant. I worked very hard and brought in several high income potential clients, but even with experienced, successful agents or managers running the meeting with me, very few of them actually became clients. I was there for one full year and had to leave because I wasn't making money.

    Advice to ManagementAdvice

    More drilling on product knowledge.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Best Life Insurance company to work for

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

    Pros

    The flexibility and control of your own schedule once you are an "established" agent. Unless you have experience in the financial services industry, this takes approximately 3 years. Without experience you spend your first three years being trained at a general office. The training is top notch as are the products and servcies offered by New York Life.

    Cons

    Working on commissions is a challenge. There are plenty of bonus type opportunities that can greatly impact your income, but it is all based on your work and ability to place new business with New York Life.

    Recommends
    Positive Outlook
    Approves of CEO

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