Pros

NYL is a very conservative company and is built to withstand times like these. NYL has the highest AAA ratings the US with four of the major rating agencies. They have the largest surplus, over $14 billion. In their 164-year history they have declared a dividend every year. Last December was their fourth best December on record, posting double-digit returns. And NYL refused the government's TARP bailout money.

NYL does not operate through a general agency system, and the RR role is non-captive. NYL will spend $250,000 per agent on a comprehensive training program. An individual's licenses, professional designations, marketing, literature and brochures are paid for. The pension plan calculation is the highest in the industry. There is access to full-time consultants, as well as cultural, retiree, women's, and advanced market support.

Cons

First, I want to say that it is a great profession. It is the best career path I have ever taken. I have interviewed on several occasions with other large companies in the industry and found that they had nothing to offer that I was not already realizing at NYL. The level of service NYL delivers to clients and what the career offers to a preoessional make it difficult to walk away from. We have many successful established agents from other companies working in our offices. But in my experience, NYL agents move on as agents in other companies only after they have been terminated by NYL.

I am now a manager, but as an agent I never needed to work more than 20-hours per week. Yet, it is simply NOT a good fit for every personality. You need to have a large market - better an affluent one. If a person does not take rejection well; is not self-disciplined or self-motivated; he or she should not seek a career with NYL.

Althought compensation is not entirely 100% commission (there are several significant subsidies and bonuses depending on the type of contract - new to the industry and experienced broker contracts), one is paid based on performance. So individuals who are not suited to be paid on performance and prefer a level paycheck should not apply.

Advice to Senior Management

NYL is a Fortune 100 company. Go paperless and provide council level agents laptops.