New York Life

  www.newyorklife.com
  www.newyorklife.com
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New York Life Reviews

Updated 1 October 2014
Updated 1 October 2014
728 Reviews
3.3
728 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
New York Life Chairman, President & CEO Ted Mathas
Ted Mathas
422 Ratings

Review Highlights

Pros
  • They provide a great training ground for how to sell and scripts to use when selling (in 53 reviews)

  • Their compensation package is excellent and they have a superb I mean superb training program (in 29 reviews)


Cons
  • Be prepared to hassle friends and family to buy useless products (in 36 reviews)

  • No base salary (you will invest in the company before they invest in you) (in 28 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Company to Keep

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Life Insurance Agent  in  Irvine, CA (US)
    Former Employee - Life Insurance Agent in Irvine, CA (US)

    I worked at New York Life full-time for more than 3 years

    Pros

    Excellent Sales Training provided. I have learned that your training will be dependent on the General Office you are hired by. Some GO have good training an some don't. Mine Orange Coast, Irvine CA was excellent.

    Cons

    Lot of Sales pressure. And more friendly trainer will help.

    Advice to ManagementAdvice

    Should allow to see Health insurance during 1st three years of employment.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Lots of training and equal expectations

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Professional  in  Tacoma, WA (US)
    Current Employee - Financial Services Professional in Tacoma, WA (US)

    I have been working at New York Life as a contractor for more than a year

    Pros

    Good training on sales concepts and marketing plans. Very professional environment.

    Cons

    If you don't have a large group of people you know to sell insurance to, it can be very difficult to get through the first contract period. If you don't like cold calling and canvassing, this may not be a good fit since there are no leads provided. How much you starve in the first year will depend on how many people you have to sell insurance to. The company name tends to put it in the life insurance box in most peoples minds despite offering various other products.

    Advice to ManagementAdvice

    More emphasis on product details in the very beginning so agents know more about what they can offer. Less emphasis on natural market since this will run out eventually for everyone, and more focus on long term strategies that are sustainable.

    Recommends
    Positive Outlook
    No opinion of CEO
  3.  

    Great company to begin a financial Services career with.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Representative  in  Manchester, NH (US)
    Current Employee - Financial Services Representative in Manchester, NH (US)

    I have been working at New York Life full-time for more than 3 years

    Pros

    Education in the Life insurance industry. Great people to learn and grow a business with.

    Cons

    Not paid enough for doing investments for clients. No investing education.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    I thoroughly enjoyed my time with NYL as I felt like a true member of the team within such a short time period.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Intern  in  New York, NY (US)
    Former Employee - Intern in New York, NY (US)

    I worked at New York Life as an intern for less than a year

    Pros

    Friendly staff and managers, great balance of work and life, competitive pay, multiple outside work activities.

    Cons

    I wish I had more training.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Great Company for the right people

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Professional  in  Waltham, MA (US)
    Former Employee - Financial Services Professional in Waltham, MA (US)

    I worked at New York Life full-time for more than a year

    Pros

    Management is great, hundreds of resources at your disposal to help you learn the business, flexible scheduling, high income potential

    Cons

    Commission based earnings, market is flooded with agents, need a large source of prospects, training time tends to get in the way of field time to make money

    Advice to ManagementAdvice

    Base salary would be helpful, online training would be beneficial so that agents don't have to come from far away for training only to have to go back out farther

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Great Company for the right person

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Services Professional  in  Orange, CA (US)
    Current Employee - Financial Services Professional in Orange, CA (US)

    I have been working at New York Life full-time for more than 3 years

    Pros

    Flexibility of schedule is a huge benefit. Ability to purchase I Shares through MainStay investments w/o sales load is great. Ability to work as hard (or not) as you wish. Truly does have unlimited income potential - for the right person and the right personality.

    Cons

    Make sure when you sign up you really know your manager, their philosophy, their target market, their leadership style! I cannot stress this enough! My first manager was HORRIBLE! Actually insulted 2 of my close friends when insisting to come to initial meetings. Not much support if you don't rent an office in the building.

    Advice to ManagementAdvice

    Work with staff more closely to setup teams for those who desire to have camaraderie.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Great company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New York Life

    Pros

    Great company to work for. The people are great to work with and the benefits are wonderful. I worked there for 15 years

    Cons

    The management in my department was not very good at all.

    Advice to ManagementAdvice

    Take better care of your people and stop showing favortism.

    Recommends
    Approves of CEO
  9.  

    Identity crisis

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Service Professional  in  New York, NY (US)
    Former Employee - Financial Service Professional in New York, NY (US)

    I worked at New York Life full-time for more than 5 years

    Pros

    - Well-recognized company
    - established business units and distribution channels that you can gain experience in
    - being a mutual makes it less stressful but it's easy for things to fester.

    Cons

    - life insurance is king, if you are in any of the other business units it's easy to be pushed aside
    - CEO is running amuck doesn't have to answer to anyone due to executive retirements. Can get petty and that trickles down to managers. So that great 'we're all in this together feel' is eroding.

    Recommends
    Positive Outlook
    Disapproves of CEO
  10.  

    Rewarding

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Services Professional  in  Jacksonville, FL (US)
    Former Employee - Financial Services Professional in Jacksonville, FL (US)

    I worked at New York Life full-time for less than a year

    Pros

    Get to set your own hours

    Cons

    100% commission. Trying to hard to sell the dream

    Advice to ManagementAdvice

    Be more upfront with the new crew

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Good experience, but unfortunately culture is changing, and they care much less about their employees than they used to

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Associate  in  Tarrytown, NY (US)
    Current Employee - Senior Associate in Tarrytown, NY (US)

    I have been working at New York Life full-time for more than 10 years

    Pros

    New projects often, time off policies are generous. Benefits were great, less so in the last few years. Great people, reasonable room to advance.

    Cons

    Moving toward outsourcing, consultants and job eliminations rather than training efforts for their current employees. Not a good time to start a new job at NYL

    Advice to ManagementAdvice

    Think about your past experiences with vendors and how poorly some of them performed after promising the world. Will eliminating dedicated employees and replacing them with vendors, consultants and offshore truly solve the issues, and keep the Company reputation intact. I hope so, but I, like many other loyal employees, are sad to see things go this way.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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