New York Life Financial Representative Reviews | Glassdoor

New York Life Financial Representative Reviews

Updated January 30, 2017
34 reviews

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Financial Representative

3.1
Star Star Star Star Star
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Approve of CEO
New York Life Chairman, President and CEO Ted Mathas
Ted Mathas
22 Ratings

Employee Reviews

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Pros
Cons
  • No base salary makes it a difficult ramp period (in 69 reviews)

  • Your building your own BoB from the ground up meaning a lot of contact with friends and family (in 67 reviews)

More Pros and Cons

  1. "Financial Services Representative"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Representative in Anchorage, AK
    Current Employee - Financial Services Representative in Anchorage, AK
    Recommends
    Positive Outlook

    I have been working at New York Life full-time (More than 3 years)

    Pros

    Lots of opportunity for growth.

    Cons

    Tremendous amount of hours first 3 years

    Advice to Management

    Support your agents!


  2. "Financial Services Professional"

    Star Star Star Star Star
    • 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


  3. Helpful (1)

    "Financial Advisor"

    Star Star Star Star Star
    • 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.


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  5. Helpful (6)

    "All Agents Are Contract"

    Star Star Star Star Star
    • 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.


  6. Helpful (5)

    "Financial Services Professional"

    Star Star Star Star Star
    • 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.


  7. "Financial Services Professional"

    Star Star Star Star Star
    Former Employee - Financial Service Representative in Seattle, WA
    Former Employee - Financial Service Representative in Seattle, WA
    Doesn't Recommend

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

    Pros

    No one bothers you when you're doing well.
    Fake but friendly environment.

    Cons

    Bad training and mentoring which both are promised to be excellent.

    Advice to Management

    Do what you say you're going to do, provide more help to people and in turn they'll be more successful


  8. Helpful (3)

    "Corporate Vice President"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Representative in Rockville Centre, NY
    Current Employee - Financial Services Representative in Rockville Centre, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Good Benefits; flexible work day

    Cons

    Needs improvement on management; some old school


  9. Helpful (1)

    "Licensed Service Assistant"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Licensed Financial Services Representative in Roseville, CA
    Current Employee - Licensed Financial Services Representative in Roseville, CA
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    -great co-workers, teamwork orientated
    -payed vacations
    -incentives
    -sales service team
    -knowledgable staff
    -concern with customer satisfaction and services

    Cons

    -low wages
    -out of date software
    -worthless teaching seminars
    -out of date business processing practices
    -lack of training


  10. Helpful (6)

    "Hard way to earn a living"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Maybrook, NY
    Former Employee - Financial Services Representative in Maybrook, NY
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Honest company, great products, good training and support

    Cons

    Hard if not impossible way to make a living. Everyone and their brother is out there with these products, people don't want to spend money on things that they MAY need in the future. Lots or rejection, and a few victories.

    Now don't think I'm full of sour grapes, I made conference, but they charge you to work there, thats right YOU pay THEM. and what is left seems like too little to live off of if you supporting a family. But possible if you work 14 hours days.


  11. Helpful (7)

    "Financial Service Representative"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Representative in Chicago, IL
    Former Employee - Financial Services Representative in Chicago, IL
    Doesn't Recommend
    Neutral Outlook

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

    Pros

    Learned and continue to educate people on the importance of life insurance and retirement planning.
    Networking and speaking with groups of people.

    Cons

    The up and down stress level wrecked havoc on my body. Too stressful.
    My internal competition (with high affluent clients) got awards and accolades, while my efforts with regular everyday people, who needed our services, did not produce the $$ to win awards. (Once I had 10 more clients, than the person who won the award, but he had $1000's more in commission than I.)

    Advice to Management

    Recognize all efforts of employees.