New York Life Reviews | Glassdoor

New York Life Reviews

Updated March 25, 2019
2,349 reviews

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3.6
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New York Life Chairman, President and CEO Ted Mathas
Ted Mathas
1,154 Ratings

Employee Reviews

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Pros
Cons
  • "expect you to sell to all your friends and family before really teaching you anything" (in 94 reviews)

  • "No base Salary could work on that so people would stay longer" (in 93 reviews)

More Pros and Cons

  1. "Great company"

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

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

    Pros

    NYL provides you with so many tools to better yourself as an individual in society and as a professional.

    Cons

    Very old school so it takes a while to adapt to new technology. To them, its the way they have been able to stay relevant over 150 years!


  2. "Solid corporate structure,"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Administrative Manager in San Francisco, CA
    Former Employee - Administrative Manager in San Francisco, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at New York Life full-time (More than 8 years)

    Pros

    Steady decent income, very strong procedures, excellent reputation as a moral company

    Cons

    its sad to watch all the sales people fail year after year. Really high turnover and you can tell some of the sales people who will fail but they bring on board just for numbers.

    Advice to Management

    none

    New York Life Response

    Mar 25, 2019 – Head of Engagement Communications

    Thank you for your feedback. A successful career as an agent requires dedication and commitment and, for many, the financial and professional rewards are worth it. We understand that starting out in... More

  3. "100% Commisions"

    StarStarStarStarStar
    Former Employee - Financial Services Professional
    Former Employee - Financial Services Professional

    I worked at New York Life full-time

    Pros

    Endless opportunity for growth and great company and training in the sales cycle.

    Cons

    100% commissions and out of pocket expenses.


  4. "An opportunity to do good for others and also help develope myseld"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Partner
    Current Employee - Partner
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Everyone at New York Life want to help you to be successful and they really care.

    Cons

    Not exactly related but I do not like how busy the traffic near the office can be at certain times, but we do live in Atlanta


  5. "Agent with New York Life"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent
    Current Employee - Insurance Agent
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Great Company to work for. They provide many resources.

    Cons

    In the first three years you can only sell New York Life products.

    Advice to Management

    I have a good experience with management so far, except our managing partner has changed 3 times since I became an agent 2 years ago.


  6. "Selling life insurance in many forms"

    StarStarStarStarStar
    Former Employee - Insurance Agent in Seattle, WA
    Former Employee - Insurance Agent in Seattle, WA
    Doesn't Recommend

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

    Pros

    You can make good money if you work hard. You should be good at talking and convincing people. It is even harder than selling a tangible product, because people do not like to plan for their death. But smart people do plan, and there are many smart people. Business attire, customer service and you can work whenever or wherever you want. No boss, basically.

    Cons

    it is like you run your own small business. Lots of expenses, customer service nerve-breaking sometimes. If you stop working, money also stops. If quality of your service drops, people cancel plans, and you need to pack back the commission you earned. Feels like non-stop work. But again it depends. Stressful if you don't like sales job, or not good at talking to people.

    Advice to Management

    Do not rush to transfer candidates to full time . Make the pre-training longer and make sure newer agents have mentors.


  7. Helpful (2)

    "How The Best Can Be Better"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent in Atlanta, GA
    Current Employee - Insurance Agent in Atlanta, GA
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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

    Pros

    New York Life has some of the greatest products in the industry. The products are tailored to fit needs across all walks of life and the policies to deal with real issues offering real world meaniful solutions.

    Cons

    In the struggle to become the Best we sometimes forget that in most cases we have gone from bad to good. There is a lack of real world sympathy in some cases. Sales in itself almost force or drive a sales person to take a it either pays me or it doesnt approach. Often times if it doesnt pay we throw it away. The only issue with that is technically we are throwing away people.

    Advice to Management

    Quality over quanity. There is no real reason that i can see that a new hire cannot trigger within 30 days. Partners have to take full resposibility for the lives that they are taking into their hands. " No one is cut out to be sales person" Frank Bettger How I Raised Myself from A Failure To Success in Sales. With That being said. The recruitment phase is done in a mass herd type of way. This does not allow your process to be as effective as it could and should be. The training is not consistent with the demands of the business. I feel it should be an everyday three to four hour event. With the Partners going out with the new hires in the evening. Once a person understands what it takes it may make them more successful and give less turnover. Also resulting in career agents and a decline in cancellations larger policies because trust and understanding is higher on all levels.

  8. "Great company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Agent/Financial Service Professional in Charleston, SC
    Current Employee - Agent/Financial Service Professional in Charleston, SC
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Offers financial freedom. No ceiling on income. Full flexibility of schedule and time.

    Cons

    Takes time to grow your business. Patience is key.


  9. "World's worst job"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Agent in Bellevue, WA
    Current Employee - Agent in Bellevue, WA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    flexibility in schedule, pay reflects effort put forth, always have office support if needed

    Cons

    NO BASE PAY, no base pay, no base pay, company forces agents to pay unjustified monthly fees (pretty sure MAP fees are illegal)

    Advice to Management

    Honesty in how much new hires should expect to get paid-- NOBODY is paid to what the compensation model leads new hires to believe AND THE MANAGERS KNOW IT.
    Charging agents for using the MAP is a scam that needs to be exposed. Forcing agents to pay $700/yr should be illegal.
    Monday meetings are draining morale as of late


  10. "Great Company For Growth"

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

    I have been working at New York Life full-time (More than 5 years)

    Pros

    Great company if you want to be able to control how high up in the career ladder you get.

    Cons

    There really are no downsides. Bad place if you are not a hard worker.