New York Life Employee Reviews about "100 commission"

Updated Oct 12, 2021

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Found 134 of over 4,213 reviews

3.8
66%
Recommend to a Friend
88%
Approve of CEO
New York Life Chairman, President and  CEO Ted Mathas
Ted Mathas
1,947 Ratings
Pros
  • "Great training and very professional(in 250 reviews)

  • "Good work life balance oriented company(in 175 reviews)

  • Cons
  • "Typical cold calls or leverage friends and family connections(in 138 reviews)

  • "There is no base salary, they provide you with a training allowance for your first 3 years but you must meet a quota to receive it(in 134 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Reviews about "100 commission"

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    1. 4.0
      Current Employee

      High Income Potential, but hard

      Oct 12, 2021 - Life Insurance Agent in Saddle Brook, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Unlimited Income Potential Sometimes Help With Prospecting Nice People Good Training Good Products Make Own Schedule Helping People

      Cons

      No Leads Are Given 100% Commission

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    2. 5.0
      Former Employee, less than 1 year

      Amazing job for sales people

      Sep 8, 2021 - Insurance Agent in Norfolk, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great company with amazing people. Paul and Mike were amazing mentors and really taught me the full sales cycle process. If you have the work ethic and sales skills this company will be easy to rise to the top! First job out of college, experience

      Cons

      100% commission Job may be hard for a recent college grad. But if you can sell life insurance you can make a boat load of money and the training is top notch!

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    3. 2.0
      Current Employee, more than 1 year

      Great company, horrible pay structure

      Sep 13, 2021 - New York Life Agent in Glendale, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Work independently wand ability to work remotely

      Cons

      This is 100% commission driven an especially during the pandemic has not been the easiest bringing on new clients, as they are worried about committing to investments during this time.

      1 person found this review helpful
    4. 2.0
      Current Employee, more than 1 year

      Working as an Agent at New York Life

      Jul 22, 2021 - Agent 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great training and resources to be used at your disposable

      Cons

      100% Commission - based salary

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    5. 2.0
      Former Employee

      Hard but could be worth it

      Jun 28, 2021 - Registered Representative 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Lots of training even if it is virtual right now

      Cons

      100% commission. Begins by only selling to friends and family which is uncomfortable If you leave early expect a lot of your brought on clients to quit their plan and then you owe back a big chunk of change. I got screwed this way because NYL pays advance commission so if someone drops their plan or doesn't accept delivery after paying first month with the application, you owe back what they paid you.

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    6. 4.0
      Current Employee

      Good and Bad.

      Mar 31, 2021 - Agent in Columbus, OH
      Recommend
      CEO Approval
      Business Outlook

      Pros

      flexible hours. Work life balance.

      Cons

      100% Commission. Good and Bad. Cold calls. Family sales pushed.

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    7. 5.0
      Current Employee

      Positive enviroment with great training

      Mar 29, 2021 - Insurance Agent in Norfolk, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      You have a team of people on your side to motivate you and help you along especially as a new agent.

      Cons

      100% commission based. It's up to you to find leads and sales.

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    8. 1.0
      Former Employee, less than 1 year

      Do not let this be your first job especially out of college!

      Apr 21, 2021 - Insurance Agent in Edison, NJ
      Recommend
      CEO Approval
      Business Outlook

      Pros

      -If you can some how make it in this business the sky is the limit and the company will pay you well.(Extremely unlikely) -You do learn a lot about insurance which is generally a good thing to know, understand, and be able to explain to those in your lives who may need it -Potential to be a full Financial Advisor (in most cases you won't make it that far) -A financial strong company (as in their financial products are good)

      Cons

      -Don't lie to yourself if you are just desperate to begin your career, especially if you are a recent college grad or are recently unemployed. -In this type of position there is such a small chance for success/ long term career. - -You will be pressured to call friends, family, and old hs/college/work friends. Really there is no way around this because otherwise it's straight cold calling people you connect with on linkedin or other means of finding new people. If you could careless about what these people think of you then you'll love this job. For those who don't feel comfortable pushing these people to set meetings with you then you will hate this job. -Also be prepared to ask these same people for referrals (names and phone numbers) so you can have someone new to call/sell insurance too. -Lots and lots of pressure from your manager. Some are nice and some are absolute jerks but in the end they only care if you bring value to them and the company by selling insurance and doing it consistently. -100% commission based don't let them fool you about there being a salary. You just get a bit more commission your first few years to help "get you started". That extra bump of course is only if you hit a minimum amount of insurance sold. Over-all this job generally sucks. You become a cold-caller after you run out of friends and family to call which eventually forces you to quite or be let go because your pay-check goes straight to $0. Despite having a quality insurance products to offer this job is extremely hard and only the absolute best can cut it.

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      1 person found this review helpful
    9. 2.0
      Former Employee, less than 1 year

      Great, if you already have a support system and enough money

      Mar 4, 2021 - Licensed Life Insurance Agent 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      - Great presentations and information - Extremely upbeat organization if you thrive in that energy

      Cons

      - Unclear about what the reimbursement would look like, or when it would happen (I never ended up being reimbursed) - 100% commission only, so you need a significant amount in savings to pay regular bills, and everything they want, and keep trying to make it - High burnout. Few people make it because it is so consuming of time and money, without any guaranteed return or protection - The partners don't seem to gauge that not everyone has family/friends that want to be hit up to buy insurance, and don't always seem to have out of the box thinking, especially for people new to the industry - I was sold this idea that we could work towards whatever model of building my clientelle I was most comfortable with, then pressured into "you need to buy leads" (which I didn't, because I couldn't afford them. Which led to "well how do you expect to make money if you don't spend??") and coming in on weekends to cold-call people from my personal phone.

      2 people found this review helpful
    10. 4.0
      Former Employee, more than 1 year

      100% Commission Based

      Jan 13, 2021 - Financial Services Professional in Vienna, VA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Friendly atmosphere, much training, good management.

      Cons

      100% Commission Based. Very hard to build your book of business and you really depend on your friends and family working with you and becoming your clients.

      2 people found this review helpful
    Viewing 1 - 10 of 134 Reviews

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