There are newer employer reviews for New York Life

Great company focused on the commitment to employees and policy holders.

Former Employee - Anonymous Employee
Former Employee - Anonymous Employee

I worked at New York Life full-time

Pros

Great benefits given to employees.

Cons

Growth opportunities are limited based on role.

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  1. 1 person found this helpful

    Great company! High turnover indicative of the industry.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Registered Representative in Andover, MA
    Former Contractor - Registered Representative in Andover, MA

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

    Pros

    Excellent sales training and manager support if you have a good Manager Partner. Great product selection to fit every need.

    Cons

    Not everyone has the long term ability to maintain all the office fees and business expenses associated with the business.

    Advice to ManagementAdvice

    Compensation is fairly standard for the industry, 100% commission plus matching training allowance for the first 3 years based on sales. However, not all office and administrative fees were stated upfront, and some unexpected fees were added. Management needs to do a better job of disclosing these to sales reps from the very beginning so that one can plan expenses more accurately for the long term.
    Career opportunities are limited from the sales rep track to managing partner as they do not seem to hire from within from sales to other positions.

    Recommends
    Positive Outlook
    No opinion of CEO
  2. 5 people found this helpful

    RUN the other direction, this company acts as old as it claims to be...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Agent in Seattle, WA
    Current Contractor - Agent in Seattle, WA

    I have been working at New York Life as a contractor

    Pros

    Training by the Career Development team are second to none. Legal Compliance Officer the Best.

    Cons

    Where to begin...? First: Do yourself a favor and do your research on this company on Glassdoor...
    Take the advice from most on here, most of it is spot on truth. Print or make a list of both the positive and negative info that concerns you, and bring it with you on your first interview. When the interviewer asks you if you have any questions regarding this office, use your list and ask. See if you get the responses that are reasonably truthful and satisfy your concerns. Use your intuition, and watch closely for vague and misdirected answers.
    Each region has its problems, but I will stick to Seattle West...Remember that there is a high turnover in this business and they only work with the people who have connections and are well capitalized. Figure you got about three intense months of them helping you before they start pulling back. Don't believe the hype about T.A.S. If you're young, coming out of college and are tech orientated do not even think of signing up! If you have any type of tech background, etc do not torture yourself with this outfit.
    If you do decide to come aboard, then get your Series 7, not the 6, why? because if you get weeded out or decide its not for you, you will have a better chance at getting a better job at any financial firm, don't let them tell you different, get a 7. Make sure you have set aside a minimum of a years worth of money to pay bills, live at home or have a spouse who can support you as you learn the biz.. Located in one of the most tech savvy areas of the U.S., one would think a Company such as this would pay for the very best, up to date, state of the art software platforms, phone systems, social media, advertising, etc...Nothing could be further from the truth. This company has NO CLUE when it comes to tech. They are living in the 20th Century with 20th Century style platforms that don't work, crash and overall create nothing but headaches to a new agents success. Add to that the 19th Century style Paperwork, the SLOW underwriting, nitpicking backoffice. Oh, and can you believe that this office doesn't even have a single in house tech to help the new and especially old agents with their equipment? In Seattle of all places! Can you believe it? Believe it. All of your equipment, laptops, phones, etc are bought by you. They demand to put all their spyware on all of your equipment along with overseeing your Social Media and did I forget to tell you that they charge you for monitoring your Social Media? Yes thats right. This company cares only about itself, you are just a number. There is more, but enough said. Lastly, prepare to waste a-lot of time, money (parking garage & gas) and patience every Monday at the Bellevue office. This is the creme de la creme of working at Seattle West, the icing so to speak with the required Red Hot Monday. You are required to sit through a minimum1.5 hours listening to the Senior Managing Partner. This guy literally will make you sit listening to his Tony Robbins style ego infused... usually 2 hour long diatribes on whatever flavor of the moment new age rhetoric that crosses his mind.

    Advice to ManagementAdvice

    Join the 21st Century

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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