New York Life Reviews in New York City, NY | Glassdoor

New York Life New York City Reviews

Updated July 25, 2017
427 reviews

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New York City, NY Area

3.5
StarStarStarStarStar
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Approve of CEO
New York Life Chairman, President and CEO Ted Mathas
Ted Mathas
228 Ratings

427 Employee Reviews

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Pros
  • Great training, great environment (in 137 reviews)

  • The 3 year training program is top notch in the industry (in 75 reviews)

Cons
More Pros and Cons

  1. "Proud to have worked at NYL"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Partner in New York, NY
    Former Employee - Senior Partner in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Outstanding reputation and great leadership

    Cons

    Work-Life Balance a big challenge

    Advice to Management

    Revise internal guidelines/regulations with respect to re-hiring retired employees


  2. "AEM Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Contractor - AEM Consultany in Lebanon, NJ
    Current Contractor - AEM Consultany in Lebanon, NJ
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at New York Life as a contractor (More than 5 years)

    Pros

    Nice working environment and friendly people

    Cons

    Remote place to work. Have to travel a lot

    Advice to Management

    NA

  3. "Good company that takes care of its people"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Analyst in Jersey City, NJ
    Current Employee - Financial Analyst in Jersey City, NJ
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Good work life balance competitive salary. Good amount of vacation time

    Cons

    The move to Jersey City has been a challenge. Not a lot of opportunities for advancement


  4. "Financial Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Anonymous Contractor in New York, NY
    Former Contractor - Anonymous Contractor in New York, NY
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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

    Pros

    Nice folks to work with.

    Cons

    They have archaic Financial Systems

    Advice to Management

    Invest in new financial systems


  5. Helpful (2)

    "New York Life Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Actuarial Intern in New York, NY
    Current Employee - Actuarial Intern in New York, NY

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

    Pros

    - Fun culture
    - Great upward potential

    Cons

    - No casual Fridays but not a big concern


  6. "NYLIM"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mutual Fund Representative in Jersey City, NJ
    Former Employee - Mutual Fund Representative in Jersey City, NJ
    Doesn't Recommend
    Negative Outlook

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

    Pros

    Very little besides good 401k

    Cons

    Poor management communication
    Everything is just done that way because "that's how we have always done it"
    People who have been here for a long time are too comfortable


  7. Helpful (1)

    "Great company to work for. However, promotions, raises and pay are very hard to get."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fraud Analyst in New York, NY
    Current Employee - Fraud Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at New York Life full-time (More than 10 years)

    Pros

    Ideal work life balance with flex time, child care, and gym. Job security with few lay offs and 401k match.

    Cons

    Lack of pay increases and promotions. No room for growth within your field. Must move around the company in order to grow. I want to stay within the fraud field.

  8. Helpful (3)

    "Decent company overall, Variable Products is HELL!"

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

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

    Pros

    Opportunities for advancement, personal and professional development. Respectable benefits, including time off, bonuses, etc.

    Cons

    Immature managers, high-school like atmosphere in my department. Antiquated equipment, policies and procedures. Very slow to change and implement effective changes. Department managers and corporate vice presidents claim to care about team members and retaining long-term employees but negatively impact employees who vocally express desire to remain long-term and advance within the company. Representatives are essentially told to "figure it out/get it done" on your own using out-dated and convoluted departmental procedures (up to 500 pages long for one process out of the two dozen plus processes we had to be fully aware of), antiquated systems and managers who would disappear during times of high call volumes. All of this while being in compliance with the corporate, FINRA, SEC and IRS rules and regulations, being bound by ridiculous time constraints , suffering through inept agents and ill-informed clients . Also, ridiculous qualitative assessments performed by people who either never worked in the position or had done so more than ten years ago.

    Advice to Management

    Actually put into place the much talked about upgrades, improvements and changes. Some key departments should be restructured. More compensation and less frivolous promotions.


  9. Helpful (10)

    "Selling life insurance to strangers"

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

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

    Pros

    You get to set your own schedule. You work as much or as little as you want.

    Cons

    Training isn't too helpful. They cover most topics in 2 weeks then just repeat everything over and over. They will tell you to start by selling to your family and friends which most people are not comfortable doing. Beyond that, its up to you to find sources of business. Through cold calling, going door to door, talking to strangers on the street at a table/kiosk. Not much guidance.

    100% sales based commission. When you start they tell you about "training allowance" of up to ~$2300/mo. Its a little misleading in that it sounds like a stipend but is still tied to sales. What training allowance actually is, is they match your sales by 80% up to $2300/mo. So in order to received your $2300 you need to make $2900 in sales, and you'll have $5200. No sale = zero pay.


  10. "IT contractor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - IT Enterprise Customer in New York, NY
    Former Contractor - IT Enterprise Customer in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Very laid back and strictly 9-5.

    Cons

    Very little overtime opportunities and rates were rather on the low side.

    Advice to Management

    Wasn't there long enough to comment


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