New York Life - Brown nosing is the only way to survive | Glassdoor
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There are newer employer reviews for New York Life

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Helpful (3)

"Brown nosing is the only way to survive"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Vice President in New York, NY
Current Employee - Vice President in New York, NY
Doesn't Recommend
Positive Outlook

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

Pros

Good money, which of course you have to negotiate for.

Cons

Mediocre benefits. Very little merit-based promotions. All upward opportunities are based on who you know and who likes you. If you don't have a Godfather, forget it.

Advice to Management

Open your eyes! Get rid of the deadweight.

Other Employee Reviews for New York Life

  1. "Life and health insurance agent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Irvine, CA
    Former Employee - Anonymous Employee in Irvine, CA
    No opinion of CEO

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

    Pros

    Well known company.
    Work close with your manager.
    Easy to get your foot in the door and obtain financial licenses.

    Cons

    High barriers to entry (license test costs are on your own and reimbursements don't come until you make a certain number of sales within 6 months)
    Must support yourself until you can make sales and bring in your own book of business.
    They want you to stay an insurance agent and keep racking in the money. Or become a manager and hire more agents to do so.
    Little mobility within the company

    Advice to Management

    Financial services is a difficult field to succeed in. New financial planners don't want to be insurance agents, don't force them to sell policies first.


  2. "Great training program, but salary is strictly commission-based."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Licensed Insurance Agent in New Windsor, NY
    Former Employee - Licensed Insurance Agent in New Windsor, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Very thorough training program, company trains and sponsors you to pass the series 6 exam and acquire your insurance license, friendly co-workers, contests with generous bonuses, decent compensation structure if you can sell enough policies and retain customers.

    Cons

    The only negative aspect of being an insurance agent is that there is no salary, and compensation is strictly commission-based, which was 50% of a customer's first year of premium payments or about 3% for IRA rollovers, which can amount to an enormous paycheck if you can land enough sales to allow you to survive. This is more difficult than it might seem, and there is a high turnover rate due to agents not making enough money to survive.

    Advice to Management

    Pay at least a low salary plus commission for a certain amount of time until agents become successful enough to be selling multiple policies weekly and provide sales leads for beginners. Cold calling and prospecting businesses door to door can be very difficult when you're getting screamed at by multiple people on a daily basis.

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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