New York Life - As exciting as you'd expect a life insurance company to be | Glassdoor
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There are newer employer reviews for New York Life

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Helpful (1)

"As exciting as you'd expect a life insurance company to be"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Intern in New York, NY
Former Employee - Intern in New York, NY
Positive Outlook
No opinion of CEO

I worked at New York Life part-time (More than a year)

Pros

Make connections with top-level management
Meet with vendors
Breakfast in the cafeteria is great
Co-workers make the day go by

Cons

One manager told me that as innovative as NYL would like to be, you can't expect projects or ideas to move forward for at least 6 month to 2 years because they need to maintain their reputation, evaluate things through chains dozens of groups and executives and make sure client security and confidentiality is in place. These are all good reasons for making sure they don't make sudden and possibly disastrous mistakes but keep your expectations low if you want to create any kind of change in the workplace.

Other Employee Reviews for New York Life

  1. Helpful (8)

    "Prospect"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Dallas, TX
    Current Employee - Financial Advisor in Dallas, TX
    Recommends
    No opinion of CEO

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

    Pros

    If you have the market you have the ability to excel quickly. What sets people apart is who is willing to prospect everyday all day and who is not. If you are very outgoing, smooth, and love to help people this is a great job for you. Although, it is a TOUGH job for the first three years. You have to attain footing and confidence from clients and keep looking for new ones in new ways. If you are great at meeting new people and getting them to listen then this is the job for you!

    Cons

    The first three years are hell and this job tests you everyday, but if you stick with it its worth it in the end.

    Advice to Management

    dont set competition between your agents.


  2. Helpful (4)

    "I have been lied to and mislead for over a year."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Financial Services Professional in Raleigh, NC
    Current Contractor - Financial Services Professional in Raleigh, NC
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    I do not have anything good to say.

    Cons

    When I was recruited, I was told that I had to produce $500 a month of commission ( at 50% which is well below industry average) to qualify for $2,320. They failed to mention this is an 80% match to your sales up to $3,000. I signed a lease for a house after contracting because I was led to believe that I would take home $2,820 as long as I made $500. If you make $500 they will add $400 making it $900 before tax.

    There is very little invested in your personal development. You are required to come to classes on Monday morning that teach you nothing but basic product and sales tips. After the first month or two these become completely worthless.

    The management pushes for "case rate" because "it will make you successful." The truth is they push for case rate because the more cases you right the higher the percentage of your commissions their bonus is.

     There is virtually no support unless you are a top producer. They have a "throw it at the wall and see if it sticks" mentality

    Advice to Management

    Support your new hires and it would reduce the number of agents and registered reps you lose to your competitors. I would also enforce stricter compliance policies on how compensation is explained in the recruiting process.

There are newer employer reviews for New York Life
There are newer employer reviews for New York Life

See Most Recent

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