New York Life Financial Representative Reviews | Glassdoor

New York Life Financial Representative Reviews

Updated October 6, 2017
38 reviews

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Financial Representative

3.5
StarStarStarStarStar
Rating TrendsRating Trends
Recommend to a friend
Approve of CEO
New York Life Chairman, President and CEO Ted Mathas
Ted Mathas
25 Ratings

Employee Reviews

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Pros
Cons
  • No base salary, need to know lot's of people to hit sales goals (in 80 reviews)

  • Another thing - Expect that your manager (managing partner) to push you to sell to your friends and family (in 78 reviews)

More Pros and Cons

  1. "Truth"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Representative
    Current Employee - Financial Services Representative
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great, Fabulous Commission
    Very Open, Caring Management
    Paid for Licensing Course
    Reimbursement for Licensing Exam Fee ($50)

    Cons

    No Cons!
    Some of the bad reviews below, are total nonsense!


  2. Helpful (1)

    "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Financial Services Representative in Pittsburgh, PA
    Current Contractor - Financial Services Representative in Pittsburgh, PA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at New York Life as a contractor (More than 3 years)

    Pros

    Fortune 100 company with great brand recognition for life insurance.
    Flexible schedule- you’re on your own

    Cons

    Total “chop shop”. Have you sell your family and friends. After you do that, they don’t offer any help prospecting or providing any leads. They let you fail and it’s on to the next sucker.
    Partners only interested in themselves and not agents/advisors.
    Partners constantly bickering amongst themselves like immature babies.

    Advice to Management

    Put some $ into local advertising or lead program

    New York Life Response

    Oct 4, 2017 – Head of Engagement Communications

    Thank you for taking the time to share your feedback. We take your concerns seriously and would like further information.
    An important part of an agent’s success is the ability to engage consumers... More

  3. Helpful (1)

    "Fair, but not easy. You get in what you get out."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Pittsburgh, PA
    Former Employee - Financial Services Representative in Pittsburgh, PA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Autonomy, flexible hours, courteous and supportive management

    Cons

    Straight commission, have to be well connected

    Advice to Management

    The company is well run, great partners, great training, overall friendly and supportive work environment.


  4. "Financial Services Representitive"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Representative in Tacoma, WA
    Current Employee - Financial Representative in Tacoma, WA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Flexibility of schedule, unlimited income

    Cons

    Difficult to balance work/life. Make sure that your goal is to make a lot of money. If you care more about teaching and helping others you may find it difficult to prospect and be completely on your own.


  5. "Financial Services Professional"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - Financial Representative in Laramie, WY
    Current Contractor - Financial Representative in Laramie, WY
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I have been working at New York Life as a contractor (More than 3 years)

    Pros

    flexibility, freedom, excellent competitive position within marketplace

    Cons

    all the normal cons of self employment


  6. Helpful (1)

    "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Representative in Marstons Mills, MA
    Former Employee - Financial Representative in Marstons Mills, MA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    work/life balance, you are your own boss

    Cons

    zero training, 100% commission, zero direction.

    Advice to Management

    Help with leads, and actually train people.


  7. Helpful (1)

    "New York Life Review"

    StarStarStarStarStar
    Former Employee - Financial Services Representative
    Former Employee - Financial Services Representative

    Pros

    Freedom to operate how you would like.
    Ability to create your own brand.
    Team environment is amazing.
    Partners want to only see you succeed.

    Cons

    The main downside is that there is no stability.
    No guaranteed salary.
    Have to build your book of business from the ground up

  8. Helpful (6)

    "All Agents Are Contract"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional/Registered Representative in Bronx, NY
    Former Employee - Financial Services Professional/Registered Representative in Bronx, NY
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Great training, people and materials to use for sales!

    Cons

    You pay for everything you use and unless you have dozens and dozens of people lined up who are ready to pay monthly premiums, this role is will leave you starving. And keep in mind, all you need is one bad quarter and you're out! My suggestion, save your money and energy and find a real paying job! Insurance is going the route of banking - all online and totally detached.


  9. Helpful (2)

    "Awful and Top Heave"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative
    Former Employee - Financial Services Representative
    Doesn't Recommend
    Disapproves of CEO

    Pros

    benefits were decent. volunteer committee was good.

    Cons

    managers were awful, they didn't care about their employees (i crashed my car driving through a snow storm to get to work) and the morale was awful


  10. Helpful (5)

    "Financial Services Professional"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Austin, TX
    Former Employee - Financial Services Representative in Austin, TX

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

    Pros

    Great work experience selling yourself and your financial services

    Cons

    More focus on life insurance than I originally was led to believe. Even as a registered investment advisor you are compensated on selling life insurance, not investments.