New York Life Reviews | Glassdoor

New York Life Reviews

Updated October 21, 2017
1,903 reviews

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1,903 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. Helpful (2)

    "Registered Representative"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Registered Representative in Waltham, MA
    Current Employee - Registered Representative in Waltham, MA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Unlimited income, work your own schedule, great education

    Cons

    100% commissions and once you've tapped you natural market prepare to cold call the rest of your days

    Advice to Management

    Tell the truth about how many people leave before you highlight how very few are successful.


  2. Helpful (1)

    "Hard work"

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

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

    Pros

    High pay if you put in the leg work. Leg work equals clients. More clients the more accounts you open. residuals on policy premiums carry over each year by a %. So say 10% of $60,000 for three years will net you $18,000 for that year without even doing any new business. It works out to more then that but work hard your first two or three years and you'll be in the $$$$. make your own hours!

    Cons

    Well like I said hard work but gets easier second year and so on. Commission.

    Advice to Management

    Send new agents out to prospect with agents who are good at it as a team. They'll know really quick what to do and say. After the new agent passes their test work on the pitch per person. otherwise they'll be floundering outside the office not knowing what to do or what to say.
    Go on appointments

  3. "Sales Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Sales Consultant in Reno, NV
    Former Employee - Sales Consultant in Reno, NV
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Large company with benefits, great training program program for new agents

    Cons

    Upward mobility, hard to move up in the company at times


  4. "Senior Specialist of Institutional Annuities"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Specialist of Institutional Annuities in Jersey City, NJ
    Current Employee - Senior Specialist of Institutional Annuities in Jersey City, NJ
    Recommends

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

    Pros

    Company still uses some outdated software and some departments are overloaded with work and has mandatory overtime.

    Cons

    Great Work Life balance and opportunities for advancement.


  5. Helpful (1)

    "Agent"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    No opinion of CEO

    I have been working at New York Life full-time

    Pros

    Compensation was good. Flexible schedule

    Cons

    No base pay or salary


  6. "Truth"

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

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

    Pros

    Great, Fabulous Commission
    Very Open, Caring Management
    Paid for Licensing Course
    Reimbursement for Licensing Exam Fee ($50)

    Cons

    No Cons!
    Some of the bad reviews below, are total nonsense!


  7. "Good People, Difficult Career"

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

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

    Pros

    Excellent training program, plenty of resources, friendly people, nice location. The process is very educating and I enjoyed learning about an entirely new industry.

    Cons

    100% commission, extremely difficult to earn a living wage in the first 2 years, company charges you fees for everything so that makes things even more difficult. On top of that, marketing restrictions are extremely thorough.

    Advice to Management

    Install a small base salary to help agents just starting out. It would help a lot with retention.

  8. Helpful (1)

    "Financial Services Professional"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Extensive and incredible training, extremely competitive compensation especially for those that follow the training and partners that serve as mentors all along the way. Brendan in the Hyannis Office is easily the best Partner I've ever worked with or for. He was always level-headed, informative and willing to give a helping hand. Can't say enough about this company. There is a reason they are the nation's largest life insurer.

    Cons

    Learning the intricacies of financial planning, and preparing for state examinations takes time. With effort and studying time, it is definitely manageable. Also *New York Life takes care of the licensing fees for their agents, unlike some firms.

    Advice to Management

    You guys make it happen, thanks for the help and keep up the good energy.


  9. "Sales and entrepreneurs welcome"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Professional in Jacksonville, FL
    Former Employee - Financial Services Professional in Jacksonville, FL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Great resources, incentives, fortune 100, excellent training, make your own schedule

    Cons

    Commission only, first few years are tough

    Advice to Management

    Take a closer look at your agents, everyone is different, don't be afraid to suggest exiting the business


  10. "Insurance Advisor"

    StarStarStarStarStar
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New York Life full-time

    Pros

    Flexible Schedule, No ceiling for earnings potential

    Cons

    The rate of growth exceeds the bodies needed in management for appointments etc...


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