New York Life Reviews | Glassdoor

New York Life Reviews

Updated November 16, 2017
1,928 reviews

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3.4
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Approve of CEO
New York Life Chairman, President and CEO Ted Mathas
Ted Mathas
955 Ratings

1,928 Employee Reviews

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

  • No base salary, need to know lot's of people to hit sales goals (in 77 reviews)

More Pros and Cons

  1. Featured Review

    Helpful (20)

    "Agent"

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

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

    Pros

    The opportunity is limitless regarding moving up the ladder. If you want to go from agent to managing partner, there's a clear cut path to follow. There's no cap on what you make as an agent, which is my favorite part. What you work for - you earn! The Development Managers, Trainers, and Partners at New York Life go above and beyond to help the agents succeed. You just have to put in the effort! It's a commission-only business, so if you don't work, you don't get paid!

    Cons

    You're on your own to grow your business. You find your own market(s), generate your own leads, and work with what you have (or don't have) to make it as an agent. It's tough coming from only having worked the standard 9-5 job, and any real residual is recognized after a full year. No sales, no money. There's no salary and training allowance is paid upon sale of products years 1-3 after hire.

    Advice to Management

    Not much, but I recommend hiring a secretary, Managing Partners. Managing teams of agents is tough, get someone to work the back end for you!


  2. "Great experience"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    There are lots of mentors and experienced professionals willing to help you succeed and guide you. Regardless of success or failure thee life experience you get here will broaden your perspective in the Work place as well as the world.

    Cons

    Not having a warm market can be a real challenge in this business. You will have to cold call and find clients.

  3. Helpful (2)

    "Pros & Cons"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

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

    Pros

    Good work balance, pension option and student loan repayment program are great.

    Cons

    A lot of favoritism when it comes time for upward mobility & salaries are not as competitive


  4. Helpful (15)

    "Sales Agent Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales Agent in Detroit, MI
    Current Employee - Sales Agent in Detroit, MI
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    This is a position where you get what you put in - period! This is not a job, but a business. If you see this as a job, then you will not be upset when you have to come out of pocket to pay for things to help you grow your business. I have been with the company now for a year. If you listen to the management team and follow the training program, you can be successful. There is a networking system that you will learn - follow it. The company offers university type training, benefits like group health, dental, vision, and 401K, and management support. In the first year, you get a lot of bonuses to help you build your business. But you must first write a certain amount of business each month to get the extra bonus money. If you do, it helps you survive when money gets low and bills need to be paid. You can get several awards that you must get in your first year. I find that the people who do not hit the ground running, tend to fail. Stay consistent, win awards, and study to find success. This is a great company to build a career but it will not be an easy journey. Find great mentors and stay positive. Do not do this business just to make money because you will fail. I love the industry and I know no matter where I go, putting in the hard work the first 3 to 5 years is crucial. So, because NYL has great products, name recognition, and is a mutual company, I have an advantage.

    Cons

    New York life can do a better job at being transparent in the interview stage of the process. They show you the perks, but do not share that it can be tough if you don't have a savings or significant other to help you financially when you hit rough patches. They don't share all the fees they charge you to work for them life desk, portal, ect.They don't tell you that you lose some important bonuses your second year. They don't tell you your contractual requirements during the interview, only after. They don't talk about reversals and how that can hurt your business. They don't tell quick they will let you go at the end of the year if you did not meet your contractual requirements. Also, depending on the office you work out of, there can be too many meetings that take you away from sales, which is never good.

    Advice to Management

    Be transparent during interview. Tell the good, the bad, and the ugly of the position. Share the cost you charge us to use your office space, and don't tell people how much they can make in their first year if you know the data doesn't show that too me true. STOP LYING TO PEOPLE!


  5. "Data Solutions Developer Intern"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    I had the opportunity to learn a lot of skills on the job, and the people are super friendly.

    Cons

    Not a con for the company, but just my experience -- would have been better to work with a team of full-time data scientists, instead of a group of interns.


  6. "Senior Associate"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at New York Life full-time

    Pros

    Financial strong company, Multiple job opportunities, Service community orientated company- Gives back to many different kinds of charities

    Cons

    Work life balance is some divisions does not exist


  7. Helpful (1)

    "Nice facilities"

    StarStarStarStarStar
    Current Employee - Agent in Denver, CO
    Current Employee - Agent in Denver, CO

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

    Pros

    Class A office space, lots of resources

    Cons

    lots of charges for wifi, tech support, meetings, breakfast, etc...

  8. Helpful (2)

    "Excellent benefits. Limited opportunity for career advancement."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at New York Life full-time

    Pros

    Laid back and friendly work atmosphere.

    Cons

    Limited opportunity for career advancement.


  9. Helpful (1)

    "Agent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Insurance Agent in Louisville, KY
    Current Employee - Insurance Agent in Louisville, KY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    The Kentucky general office is the nicest place I’ve worked! The people are extremely nice and supportive.

    Cons

    Commission only job is the ONLY flaw I can tell about

    Advice to Management

    A small salary for at least 6-8 months at least would greatly help new agents until they get on their feet.


  10. Helpful (1)

    "Technology Org that is stuck inthe mud"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Jersey City, NJ
    Current Employee - Anonymous Employee in Jersey City, NJ
    Positive Outlook
    No opinion of CEO

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

    Pros

    Wealth of opportunity to change

    Cons

    To myopic and stuck in the mud to get out of their own way

    Advice to Management

    Listen to your technology managers that have real ways to technically turn NYL around and remember the indecisions made on the mainframe elimination are being carried over to other technologies. Change now and pay what it take to save much more and be able to respond to new directions in the future. You cant hire new talent offering DB2 and Oracle as your DB platforms. many of the new developers have never even used these technologies. Oracle is legacy


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