New York Life Reviews

Updated July 15, 2015
9 reviews filtered by
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4.4
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Recommend to a friend
Approve of CEO
New York Life Chairman, President and CEO Ted Mathas
Ted Mathas
6 Ratings

Pros
  • Great Training Programs for new Agents (in 55 reviews)

  • Solid training program and an army of product support (in 32 reviews)

Cons
  • Be prepared to hassle friends and family to buy useless products (in 37 reviews)

  • Sales intensive environment, most training is about sales, limited in products offered, no base salary (in 29 reviews)

More Pros and Cons

9 Employee Reviews

Sort: Popular Rating Date
  1. Best company to work with

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous in Atlanta, GA
    Current Employee - Anonymous in Atlanta, GA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at New York Life full-time (More than a year)

    Pros

    Training, support, availability, trade mark, reliable

    Cons

    Be focus and want todo it.


  2. Helpful (4)

    Good training, poor management

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional in Atlanta, GA
    Former Employee - Financial Services Professional in Atlanta, GA
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Very involved with training new agents Good commissions Excellent products to offer

    Cons

    Hard to move up to an advisor role Wanted you to sell life insurance for every solution Did not like the MD, not friendly

    Advice to Management

    Don't micromanage so much


  3. Helpful (3)

    Agent

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Sales Agent in Atlanta, GA
    Current Employee - Insurance Sales Agent in Atlanta, GA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at New York Life full-time (More than a year)

    Pros

    Training is for the 3 years, then you are on your own. The office location is great. I enjoyed event marketing. Working with people on their important financial matters is rewarding.

    Cons

    The income is very unstable and income can even be reversed. I have encountered rude remarks from leadership and witnessed the same for other associates.

    Advice to Management

    Words can be motivating or demotivating, you decide.


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  5. Helpful (1)

    Great

    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Former Employee - Administrative Assistant in Atlanta, GA
    Former Employee - Administrative Assistant in Atlanta, GA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    The people were very nice and inviting and the job was a good one

    Cons

    It was a temporary assignment so it ended too soon

    Advice to Management

    Keep Up the good work


  6. Helpful (1)

    Good Job if you can't find a good job

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Atlanta, GA
    Former Employee - Financial Advisor in Atlanta, GA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at New York Life full-time (More than 3 years)

    Pros

    Flexible work schedule. You get to pay for your cub, phone, internet, tech support even if you dont use it. Every dollar counts for NYL to keep up their surplus

    Cons

    Training becomes a waste of time. Management if more focused on hiring new then they are ensuring the success of agents. Company cares must about its bottom line then its sales force that makes the money

    Advice to Management

    Hire less agents. Quality over quantity. Be more concerned with how to help your agents make money then how much your comp is.


  7. Helpful (9)

    Get ready for them to nickel and dime you to death

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Professional in Atlanta, GA
    Current Employee - Financial Services Professional in Atlanta, GA
    Doesn't Recommend
    Disapproves of CEO

    Pros

    great training on whole life insurance brand name and overall recognition of the company financial strength best whole life products on market

    Cons

    hit with fees left and right for every aspect of business expenses partner/manager non responsive lack of direction from management Long time to underwrite cases Please anyone considering signing a contract with NYL, make sure you have 6 months personal and business expenses saved up. Both my wife and I went with the company and it has brought us to the point of being bankrupt. they will not tell you the pit falls during the recruiting process, and once you are in, the partners are our recruiting the next agent. Please, please read the other submissions from agents that are posted here. You must drink the "kool-aid" and master whole life sales. You WILL be badgered to sell your friends and family as quickly as possible and you will lose contact with them as they don't want to be sold life insurance. Underwriting is VERY tough and slow here. it has taken an average of 2.5 months to get a case through. Go into this opportunity understanding that you will be left on your own, but also remember if you fail; its not all your fault. (I have been very successful in other places, this is just not the right fit for me.)

    Advice to Management

    Take the time to train your agents properly. Don't just go and hire the next person off the street, truly invest into those agents you hire. I just don't understand how you can justify taking people to the brink of financial ruin, without giving them a fighting chance to succeed.


  8. Helpful (1)

    Good Work Environment, Lots of oppertunity

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent in Atlanta, GA
    Current Employee - Insurance Agent in Atlanta, GA
    Recommends
    Approves of CEO

    Pros

    Good Enviroment, Lots of the best Training in the Industry, Unlimited Income potential, Great Company Reputation and history, Good Benefits and compensation structure.

    Cons

    Poor Financial environment of economy has a lot of people holding on to their money. Prospecting high volumes of people. Cold calling.

    Advice to Management

    Continue to engage your agents to make sure that they are tracking on a weekly basis. When they make money they are happy. Other wise great managers!


  9. Helpful (1)

    Good company with local management issues

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional in Atlanta, GA
    Former Employee - Financial Services Professional in Atlanta, GA
    Approves of CEO

    Pros

    Advancement Potential Theoretically unlimited income Great company strength Great national reputation Good product lines for life, annuity, LTC Strong focus on education

    Cons

    Harsh management style (although they are finding a new Managing Partner) No base pay at all, training income is all tied to production as bonuses. Often-surly and incompetent office staff Like every insurance company, they will tell you that you will be fully in control of your income. This is nonsense, no other career puts control of your income in so many different hands. This is also one of the few careers which will make lifelong friends, family, and many prospects regard you with suspicion and paranoia.

    Advice to Management

    Treating your reps like children results in childish mindsets and behavior. If enough people are all telling you the same thing, they may be right, even if you are management and they aren't.


  10. Helpful (3)

    New York Life, the company you keep????

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional in Atlanta, GA
    Former Employee - Financial Services Professional in Atlanta, GA
    Doesn't Recommend
    No opinion of CEO

    Pros

    Career flexibility and unlimited income potential are by far the best reason to work at New York Life. The difference between an agency position in sales and a corporate position are night and day so it would be fair for me to describe the culture, business environment, ect. without noting that I worked in sales. From what I've heard from those in the industry but from other companies, NYL has a top of the line training program and I can attest to that as well. It's a great company to get your start or to make a career out of it and it appeared to me that people knew very quickly if they were there to pad a resume and gain experience or whether they truely wanted to make a career out of it.

    Cons

    In the sales side of it, it appeared to me that management viewed everyone as a number and even though they provided good training initially, it was very apparent that they were focused on the top producers and everyone else was left to fend for themselves. As with most business, esp financial sales, it's all about your numbers and that causes many people to get left behind early on and it takes an extreme amount of effort to get noticed if your numbers aren't in the top 15%. Also it's very difficult for younger employees to get traction in an environment that is geared more toward the seasoned vet.

    Advice to Management

    Make it more than a numbers game best advice bar none.



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