New York Life

www.newyorklife.com

New York Life Reviews in New York, NY

Updated January 25, 2015
Updated January 25, 2015
836 Reviews
3.3
836 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
New York Life Chairman, President & CEO Ted Mathas
Ted Mathas
473 Ratings

Review Highlights

Pros
  • They provide a great training ground for how to sell and scripts to use when selling (in 55 reviews)

  • Their compensation package is excellent and they have a superb I mean superb training program (in 32 reviews)


Cons
  • they tell you to sell insurance to your friends and family and when you leave they treat (in 37 reviews)

  • No base salary (you will invest in the company before they invest in you) (in 29 reviews)

More Highlights

134 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Great company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Director in New York, NY
    Current Employee - Director in New York, NY

    I have been working at New York Life full-time (more than 5 years)

    Pros

    Good salary, good perks (half day Friday's in summer)

    Cons

    Tough to move up, lifers must leave, health benefits not good

    Advice to ManagementAdvice

    Need to communicate to employees what the business strategy is... Right now, nobody knows.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Great place for an Internship

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Intern in New York, NY
    Current Employee - Intern in New York, NY

    I have been working at New York Life as an intern (less than a year)

    Pros

    A terrific learning opportunity on every facet.

    Cons

    My manager wasn't that friendly but others took me under their wing.

    Advice to ManagementAdvice

    Keep it up!

    Recommends
    Neutral Outlook
  3.  

    Financially solid company but stagnant, stodgy culture

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at New York Life full-time

    Pros

    Pretty lobby, free on-site fitness, wellness and learning centers, 9-5, 401(k) match, pension, half day Summer Fridays, day after Thanksgiving off, business casual attire, guest speakers via various diversity groups, volunteering opportunities, billions of dollars in company reserves.

    Cons

    Lotus Notes email, very few sick days per year, office does not close during snow storms and you are charged a day if you can't make it in, very high deductible on medical plan, below market annual raises and bonuses, very old elevators that constantly get stuck between floors, limited charities the company will match your donations, people who abuse "work from home" & the honest people who aren't given that opportunity due to their lower job function titles. High school cliques exist: your co-workers with a higher title will exclude you from all things important, minimize you and disregard any ambition you may display, so you just sit and wait to be spoken to. Solid, competent employees are not utilized to their fullest potential, while incompetent people remain in roles they are not fundamentally right for, passive aggressive approach from managers, new ideas and opinions are not encouraged, select few promoted to senior roles to meet diversity targets, which is very apparent and discouraging to many.

    Advice to ManagementAdvice

    Please make an honest attempt to fix the Cons mentioned above. Distributed Leadership cannot fully take off if lower level employees are constantly made to feel like they don't matter and are treated like an afterthought by those above them in their own department.

    Recommends
    Positive Outlook
    No opinion of CEO
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  5. 1 person found this helpful  

    Mutuality with integrity

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Corporate Vice President in New York, NY
    Current Employee - Corporate Vice President in New York, NY

    I have been working at New York Life

    Pros

    Solid AAA rated mutual life insurance company. They may not always be the coolest kid on the block but their prudent decisions are made looking at the big picture and what is ultimately best for their policyholders.

    Cons

    Technology is very far behind the curve. Many legacy systems cannot be integrated into cutting edge technology.

    Advice to ManagementAdvice

    Come out of your offices once in a while to get to know the middle management and associates who are doing the actual work. Get to know them and listen to their ideas. Give them a chance to lead rather than recycling the same group of tired executives holding on.

    Recommends
    Positive Outlook
    Approves of CEO
  6. 1 person found this helpful  

    Waiting for Ax to Fall

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at New York Life

    Pros

    Lobby, Gold Dome, Lobby Floor, Building Construction

    Cons

    "Management"

    Four years of nonstop reorganizations, downsizing, firings and now again........many of the IT people are just waiting to be given the package. The general work atmosphere in Technology is horrific except for a few chosen who are masters at kissing-up to senior management.

    Advice to ManagementAdvice

    Pay yourselves $1 for a year to show real honest commitment to "redefining" the company culture.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  7.  

    Little room for growth

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Summer Intenr in New York, NY
    Current Employee - Summer Intenr in New York, NY

    I have been working at New York Life as an intern (less than a year)

    Pros

    - give you real responsibilities which can be rewarding
    - good possibility of getting rehired

    Cons

    - does not pay well
    - industry is very boring

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Ok company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at New York Life

    Pros

    Good work life balance and you don't feel overworked or super stressed.

    Cons

    Pay is well below market average. Lots of nepotism and favoritism. Chances for growth is hindered by poor middle management. Executive management favors years of service over talent and ability.

    Advice to ManagementAdvice

    Need to get away from the favoritism for years of service and encourage younger professionals to come into NYL and want to stay there and grow with the company.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9.  

    Opportunity for growth, but beware of the partner who recruits you.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Agent in New York, NY
    Former Employee - Agent in New York, NY

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

    Pros

    NYLife offers a lot of professional development courses.

    Cons

    No set salary (although sales are "matched" with an allowance).
    Depending on your manager, you may have higher chances of excelling or sinking.

    Advice to ManagementAdvice

    Be committed to the agents you recruit. Work with the new agents to help them develop the right skills. Just like you wouldn't expect a child to know how to read without teaching them the alphabet first, don't just expect an agent to know how to prospect and sell if you haven't taught them such skills.

  10.  

    Actuarial (Contract)

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Consultant in New York, NY
    Current Employee - Consultant in New York, NY

    I have been working at New York Life as a contractor (less than a year)

    Pros

    Great work life balance. Very good training. Great corporate ethics. Good hourly pay. Flexible hours

    Cons

    If you work in Westchester campus, it's going to be very far away.
    Great hours would mean less pay for hourly-paid contract positions

    Advice to ManagementAdvice

    Move Westchester campus back to somewhere closer

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Family Oriented

    Former Employee - Corporate Vice President in New York, NY
    Former Employee - Corporate Vice President in New York, NY

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

    Pros

    Good ethos, great people and great package

    Cons

    Slow decision making and many changes of strategy

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