New York Life - Satisfying | Glassdoor
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There are newer employer reviews for New York Life

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"Satisfying"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Anonymous Employee in Waltham, MA
Current Employee - Anonymous Employee in Waltham, MA
Recommends
Approves of CEO

I have been working at New York Life full-time

Pros

Great Training
Great Company
Best in the industry

Cons

all commission
natural market calling
no structure

Advice to Management

Keep doing what your doing

Other Employee Reviews for New York Life

  1. "Lifechanging"

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

    I worked at New York Life part-time (More than 10 years)

    Pros

    This company is very good for young people looking to start a career.

    Cons

    There is a lot of turnover, changes in policies, and there are eliminations and layoffs, as in any major corporation.

    Advice to Management

    I do not have any advice to management.


  2. Helpful (3)

    "Agent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Insurance Agent in Rockville, MD
    Former Employee - Insurance Agent in Rockville, MD
    Doesn't Recommend
    Disapproves of CEO

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

    Pros

    Your own freedom to a certain extent

    Cons

    1. The agent contract is not clear and cannot be understood unless you're an attorney. This is a catch 22 because as an agent, they shove a trove of papers for you to sign and the agent contract is one that they should allow you time to consult with your attorney or a senior manager who can help you walk through it. I met seasoned agents who still don't understand their agent contract.
    2. There are no leads for agents. Agents are expected to source their family and friends as "warm market" then hit up their referrals.
    3. It's not for everyone.
    4. New agents are treated as employees of NYL but until you hit $24+ in commission, you are 1099 but NYL doesn't tell the agents that. Again, the agents contract is very convoluted with language that the average agent will not understand without a law degree.
    5. They expect agents to get series 6/7 licenses. Most agents want to sell life insurance but they push you toward the series 6/7 license. Would you want some guy who can just study and pass 6/7 license to manage your life's savings?
    6. As I said in #4, you're treated as a W2 employee by NYL but you drive around burning gas and putting miles on your car that you cannot write-off because while you're running around like an independent agent, the company does not allow you to claim that status.
    7. See #3. It's not for everyone.

    Advice to Management

    Better understanding of the agent's contract during their first 6-12 months.

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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