New York Life Reviews | Glassdoor

New York Life Reviews

Updated March 23, 2017
991 reviews

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Current Employees

3.8
Star Star Star Star Star
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New York Life Chairman, President and CEO Ted Mathas
Ted Mathas
526 Ratings

991 Employee Reviews

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Pros
Cons
  • The income is 100% commision with no base salary (in 66 reviews)

  • They want you to write life insurance policies to all your friends and family as leads are not provided (in 65 reviews)

More Pros and Cons

  1. Helpful (166)

    "Greatest Opportunity in Corporate America"

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

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

    Pros

    Right out of college, I had an opportunity with the New York Life. Being young I felt that I was at a disadvantage but I worked hard, I was relentless, and ambitious. My first full year, I was able to make a six-figure income. It wasn't easy but is medical school easy? Is law school easy? The training and development at New York Life was unmatched. I knew nothing about the Insurance and Financial Services industry until I was given an opportunity at New York Life and the training was exceptional and has led me to the success I have today.

    Cons

    You have to work hard, be relentless, entrepreneurial, invest a lot of time and effort into the business and above all, expect a higher standard of living and strive towards that goal every single day.

    New York Life Response

    Sep 26, 2016 – Head of Engagement Communications

    Thanks for taking the time to share your feedback – we appreciate it. As you say, a successful career as an agent requires dedication and commitment. For many, including you, the professional ... More


  2. "Agent"

    Star Star Star Star Star
    • 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

    Pros

    Freedom to write and schedule your own business appointments is great! I am always available to coach my kids sports teams and be there for my family.

    Cons

    It takes a while to get your business up and running.


  3. "Agent"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Executive Partner in Austin, TX
    Current Employee - Executive Partner in Austin, TX
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at New York Life full-time (More than 8 years)

    Pros

    The last American meritocracy! A true American company that supports individual AND collective greatness! They do what theu say they will do and always make decisions according to the mission of protecting and serving the client.

    Cons

    You have to have work ethic and drive and not a blame others attitude.

    Advice to Management

    Keep encouraging the leadership not management culture.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (1)

    "Best company out there"

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

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

    Pros

    New York life has professional managers who are committed to training new agents in the business without splitting commissions and having conflicts of interest. A great ethical company that has withstood the test of time. The 3 year training program is top notch in the industry. The pay for new agents is spectacular with an added training allowance that makes it hard to fail.

    Cons

    It can be expensive to run any business and you have to treat yourself as a business owner. You have to give yourself 3-6 months to really get started with training and licensing. It can be very difficult to reach out to family and friends early on. Don't let that stop you though.

    Advice to Management

    Keep being innovative with new CRM and training. Try and take a Holistic approach to someone's financial plan by offering more resources and training for the investment side of the business.


  6. "Financial Advisor"

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

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

    Pros

    Great support from management. Broken down understanding of policy and how to present to client is outstanding.

    Cons

    Policy approval is lengthy. Money is given early but taken away when policy is declined. Hard for living wage.

    Advice to Management

    Keep up the good work, more support on first 3 policies written to new advisors and some type of compensation, even when policies do not go through. Time and effort was given and should be compensated


  7. Helpful (1)

    "Great company to start your career in finance and insurance"

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

    I have been working at New York Life full-time (More than 8 years)

    Pros

    In general, you're able to take your career in any director as a Agent, Registered Representative, management in General Office, or corporate. As an Agent, you'll have unlimited products to sell, an office space to work from, software to start using from the beginning, and a team to guide you.

    Cons

    What I like about this career, everything is up to the individual. If you have the determination and organization to pursue your goals and desires - no cons.

    Advice to Management

    No advice to management


  8. "Partner, New York Life"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Partner in Orlando, FL
    Current Employee - Partner in Orlando, FL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Entrepreneur-like opportunity and flexibility in directing your own work, combined with a Fortune 100 infrastructure.

    Cons

    Large corporate footprint with long historical position makes change difficult, especially technological changes.


  9. "Summer Intern"

    Star Star Star Star Star
    Current Intern - Anonymous Intern
    Current Intern - Anonymous Intern

    I have been working at New York Life as an intern

    Pros

    Good Place to do an internship

    Cons

    They promise full time and would not offer at the end


  10. Helpful (2)

    "Financial Service Professional"

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

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

    Pros

    Great training and culture, unlimited upside if you choose to do well. Company rewards you for hard work (making Council). Great commraderie. Business owner mindset

    Cons

    You MUST produce consistently in order to make it. Must find new prospect everyday. If you are not producing, benefits go away. Responsible for reversals

    Advice to Management

    When Partners recruit, please emphasize that there is NO salary. Training allowance is a bonus on top of sales. This will help with retention


  11. "Licensed Agent"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New York Life full-time

    Pros

    Established Company, Training is very important.

    Cons

    Nothing, no comment, need to have a lot of contacts or conections.



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