New York Life Reviews

Pros

New York life is a great company to work for if you work in the corporate side. If you try to work on the agent side, it is straight commission. They are still one of the only companies that offers a pension plan.

Cons

The interview process was not an interview process at all. They were trying to sell the position to me. The job is completely commission based and although they claim that they do not cold call, that is what it is. I would not recommend working there unless you already have a your own client base.

Advice to Senior Management

Instead of hiring anyone that wants to be a financial representative, be selective and hire only people that are qualified for the job, and the turnover rate will not be so incredibly high.

Pros

You set your own schedule. You can make as much money as possible and management is nice and helpful. It works

Cons

Hard to get prospects in current economic state. Life insurance is hard to sell because people dont think they need it.

Pros

Training program is outstanding, but overall demands are insane, to many meetings and not enough true marketing help and the expenses compared to other companies are high. Good thing is that after three years you can keep your career contract but be truly independent and actually run your own business.

Cons

You are made to push life insurance, in particular whole life insurance, and while a good product for some NYL now states it is a full service firm which it is, but if you want your manger to be happy you must sell their WL.

Advice to Senior Management

Management needs to get with the new world, some things that they have done are great and proven while others are just insane and rigid. Though many career companies are like that as well.

Pros

Freedom to control own destiny. No ceiling on money one can earn and an excellent professional environment. Overall the opportunity for advancement is based on performance.

Cons

The is alot of freedom which can be a double edge sword for some. There is rejection and hard times but the good out weighs the bad.

Advice to Senior Management

Leadership is above and beyond. There is always someone available to answer questions and guide you through the needed course of work.

Pros

Lots of great training and flexibility. Well run company from the top, down.

Cons

no base salary when you start

Pros

Overall the actuarial program is incredible. Almost all the actuarial students are supportive and extremely intelligent. Multiple presentations and events are given that aided in learning experience. Compensation for interns is very good plus living arrangements. As for actual work, you are given the responsibility of almost a full time employee, much more meaningful and challenging work than as an intern in any other industry.

Cons

pace of work is very slow depending on assignment, very bureaucratic which makes getting things done difficult

Pros

great company, great market share, great vision

Cons

disconnect between competence of partners and their agency system

Advice to Senior Management

management should heavily recruit investment oriented partners from other companies that have the passion, drive, and ability to make things happen out in the field

Pros

Great people and a well respected company within the industry. Some of the highest rated policies and financial vehicles in the field. All commission so it is possible to have months where you make 10 to 30 thousand, but others where you will not get a paycheck. By far the best training in the industry also.

Cons

Little to no work and life balance. Should consider having at least 6 to 8 months of living expenses prior to starting this job, it will take a while to get started and get prospects in line. Get ready to leverage your relationship to make sales and get referrals.

Advice to Senior Management

You do a wonderful job training us in scripts and the specifics of the policies but most of the management has been out of the field long enough that they dont understand how things like the internet has completely changed the way people get information and object to what the agents say in the field. Other than that the only this else is get out of the paper era, it would be nice to have paperless applications like almost ever other company does.

Pros

Work your own hours, easy paperwork, very good training program, Decent pay(when you can get it), Good managers and very good structure to help you not fail.

Cons

I hated phoning. If you aren't comfortably talking to your aunts and uncles and asking to meet with them this is not for you!

Advice to Senior Management

I would say to get on the workers a little bit more. I wasnt pressured to do much and i made a lot of money at first and was content to just relax for the rest of the summer. I just graduated college and I knew this wasnt for me at the get go but I knew i could make money and then just take it easy. Best summer job ever!

Pros

Company must generally abide by government compliance

Cons

Managers know what they can get away with

Advice to Senior Management

There are some good managers at NYLife -