New York Life

www.newyorklife.com
There are newer employer reviews for New York Life

2 people found this helpful  

Make sure you understand what you're about to get into

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

I worked at New York Life as a contractor (more than a year)

Pros

Education of core products
Many partners and agents are great people
Efforts made to place a high importance on training

Cons

BEWARE - get ready spend your money by taking this job! Perfectly fine if you subscribe to the idea that this downside is more than made up for by the upside of a very high potential income. But while you are spending time trying to develop your client base (for which you receive minimal help) you will be spending more and more of YOUR OWN money on things like: office spaces (personal and common areas), office phone monthly charge, communal office supplies monthly charge, a monthly charge for advertising over social networking, expenses for study materials and exams for insurance and securities certifications, and...well you get the idea. No genuine teamwork. Everyone is incentivized to push product and are told to do so by any and all means necessary in order to survive.

Sales bonuses are offered as an alternative to a base salary. Management spends most of its time trying to convince you that this an acceptable and preferable alternative. In fact, many times, sales meetings scheduled for product knowledge purposes were quickly hijacked to showcase the present and past incomes (or lack therof) of the agent's attending.

Overall, there is a significant degree of hypocrisy that pervades all levels of the office. That environment of course is not unique to NYL, but personally I need more than 0 guaranteed dollars a year to put up with it.

Advice to ManagementAdvice

Put some of your own skin in the game like the salespeople you aim to motivate and encourage.

Doesn't Recommend
Neutral Outlook
No opinion of CEO

833 Other Employee Reviews for New York Life (View Most Recent)

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  1. 5 people found this helpful  

    Great company, great training, hard to make a consistent income.

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

    I worked at New York Life full-time (more than a year)

    Pros

    Training is great and comprehensive. Opportunity to go more into retirement planning/ investments. Top performers can earn trips.

    Cons

    Income is commission, and while you can get draws/advances, if your client drops their policy, you get that (prorated) income taken off, leaving you with a hole to fill before you see income again. As in any sales you have to talk to A Lot of people, and life insurance and retirement planning are resistance sales.

    Advice to ManagementAdvice

    Help keep promising new agents with more leads.

    Recommends
    Negative Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    New agent review

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New York Life

    Pros

    Company image. Initial training. Supportive partner training arrangement for one year.

    Cons

    Referrals diffucult to come by. Limited or no leads for agents not at council level. High turnover ratio.

There are newer employer reviews for New York Life

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