New York Life

www.newyorklife.com
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New York Life Reviews

Updated March 5, 2015
Updated March 5, 2015
866 Reviews
3.4
866 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
New York Life Chairman, President & CEO Ted Mathas
Ted Mathas
487 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

Employee Reviews

Sort: Popular Rating Date
  1.  

    Great first job but need to be committed

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

    I have been working at New York Life

    Pros

    Flexible Schedule
    Fun atmosphere
    Training is thorough

    Cons

    Commission only job
    Changed managing partners

    Advice to ManagementAdvice

    The classes are very repetitive

    Recommends
    Positive Outlook
    No opinion of CEO
  2.  

    Revolving Door. Pressures agents to sell products not in best interest of the client. Have your atty read your contract

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

    I worked at New York Life full-time (more than 5 years)

    Pros

    Established company name. Financial Strength. Good core products themselves. Good if you are a broker, not an agent.

    Cons

    Their whole agency business model is a Con. The "partners" are not really partners they are just recruiters with a fancy name. They do not own the company. the company is owned by the policyholders. They are just employees of the company and their primary job is recruitment. Their new business is dependent on constant recruitment of new agents that sign up thier friend and family members like a pyramid scheme. After three years the subsidy goes away and they only way yo survive is to become a partner. If you leave they have a non-complete they restricts you from working with your own family and friends and is completely not in the interest of the client.

    Advice to ManagementAdvice

    Change your title to recruiter to you can he honest about your job.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  3.  

    College Intern

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

    I worked at New York Life as an intern (less than a year)

    Pros

    Flexible schedule, solid company to work for. Easy access to the higher-ups. You make money at your own pace.

    Cons

    You succeed at your own pace, which can be difficult if you do not have a lot of contacts that are open to purchase the products that NYL offers.

    Advice to ManagementAdvice

    Offer some quality leads.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Dedicated hardworking folks there

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Customer Service Representative
    Former Employee - Customer Service Representative

    I worked at New York Life

    Pros

    Family atmosphere, office culture, pay

    Cons

    work-life balance, time off policies, methods of productivity tracking

    Advice to ManagementAdvice

    Celebrate birthdays and retirements more.

    Positive Outlook
    Disapproves of CEO
  6.  

    NONSENSE

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

    I have been working at New York Life

    Pros

    FREE Training i guess, Other than that?

    Cons

    COMMISSION, slow pay process, NO respect

    Advice to ManagementAdvice

    KNOW YOUR EMPLOYEES BETTER, please

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7. 3 people found this helpful  

    Benefits Navigation Nightmare

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New York Life

    Pros

    Training program is definitely top notch!

    Cons

    Very high employee/agent contribution for health care with very high $1600 annual, stacking deductibles. Dropped healthy dependent so I could (unfortunately) access benefits for unhealthy self without meeting two deductibles--yes, stacked deductibles--who knew?! Happily left in 2014. Now frustrated trying to get through all the red tape and multiple voice menus to obtain a W-2 for tax purposes for 2014. Too much automation and road blocks to be effective. Messages not being returned once arriving at the supposed proper gatekeeper further frustrates the matter. Calls back to NYL's terrible automated system dump me back in the same voice mailbox. Really!? I think I need to write to 51 Madison Avenue, NY.

  8.  

    Wonderful Company to Work For

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

    I worked at New York Life full-time (more than 5 years)

    Pros

    The best thing about this company was the people. I loved going to work everyday. There was opportunity to advance.

    Cons

    There was a reorganization every year so you never knew what department your unit would be under and how management would change.

    Advice to ManagementAdvice

    Keep doing what you are doing and uphold the company values and mission.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Managing position

    • 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 full-time (more than 3 years)

    Pros

    A corporation with a lot upcoming changes. Once it gets to the next phase there might be a different culture.

    Cons

    A corporation with a long history. You have to put a lot of effort to do things differently.

    Recommends
    Neutral Outlook
  10. 2 people found this helpful  

    If you don't like approaching strangers, this is not for you.

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

    I worked at New York Life (less than a year)

    Pros

    Tons of room for growth
    Make your own schedule
    Have the chance to make a great salary if you are willing to put in the sweat equity in the beginning.

    Cons

    100% commission-so it takes awhile to get your first pay check.
    You will need to do lots of cold calling and selling to strangers.
    You are given a crash course then let go with little guidance depending on your manager.
    You are asked to sell to your family and friends right away.

    Doesn't Recommend
    Negative Outlook
  11.  

    Great company, Strong Leadership, Requires large personal network to start out

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at New York Life

    Pros

    Great name and reputation, strong leadership, and potentially very financially rewarding

    Cons

    Requires a deep, numerous personal network of leads to build your business. Leads not provided until after a proven level of success.

    Advice to ManagementAdvice

    Consider a true mentor program where new Reps partner with an established rep that can coach and assist with appointments until on solid footing. Maybe even a sales assistant role for 6 months to a year in order to get established, learn, and feel some success early on.

    Approves of CEO

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