New York Life

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

Updated 14 September 2014
Updated 14 September 2014
717 Reviews
3.3
717 Reviews
Rating Trends

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

Review Highlights

Pros
  • They provide a great training ground for how to sell and scripts to use when selling (in 48 reviews)

  • Their compensation package is excellent and they have a superb I mean superb training program (in 27 reviews)


Cons
  • Be prepared to hassle friends and family to buy useless products (in 32 reviews)

  • No base salary (you will invest in the company before they invest in you) (in 26 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    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
  2.  

    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
  3.  

    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
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  5.  

    Great management team and collaboration.

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

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

    Pros

    HUGE on training and development. Tons of growth opportunities. Management is very hands on, and always willing to help with development and mentorship programs. Room for growth and overall well being in the company. Great benefit package and a very lucrative pension plan for those planning on staying with the company 25+years. Very thriving company and trusted brand. Always there to help the customer when needed.

    Cons

    Long hours, and considerable amount of time in the field.
    Lot's of outreach and time out networking, looking for leads, and building a market. Definitely not for someone that doesn't have thick skin. Lots more positives than negatives.

    Advice to ManagementAdvice

    Overall GREAT experience with management and staff

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    No upward mobility

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst  in  Sleepy Hollow, NY (US)
    Current Employee - Business Analyst in Sleepy Hollow, NY (US)

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

    Pros

    New york life has a good cafeteria in the Home Office but as of late, that's all the pro's I can think of.

    Cons

    Re-org = layoffs for the past few years. No communication from management before during or after. Rumor mill running wild about oct 2014. Get ready if your about to turn 5o and are making a decent salary. Your time will be up.

    Advice to ManagementAdvice

    Be human

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7.  

    Cattle Call

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

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

    Pros

    Great, Great Group of people to work with. Friendly environment and lot's of support.

    Cons

    You MUST have access to wealthy clients, otherwise its a numbers game. No time on Quality, only time for Quantity. Sales office in NY is just disgusting and dirty!! Firm is nothing more then AMWAY on Lexington Avenue!

    Advice to ManagementAdvice

    NYL is TOP HEAVY!!!!!!!! Save some money and get rid of the old monuments in 51 Madison Avenue.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8.  

    Large company, odd environment

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

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

    Pros

    Pay is very good, and competitive. Many opportunities for personal development and education. Normal, reasonable working hours. Mostly very friendly.

    Cons

    Stagnant. People never leave. High level of resistance to change. Many, many, reorgs and restructurings

    Advice to ManagementAdvice

    Consider outsourcing a large segment of marketing needs and minimizing redundant roles.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  9.  

    Hired to be a Financial Advisor and sell insurance

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

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

    Pros

    Strong Company with good products. Very good training of many different products and services.

    Cons

    Antiquated systems, still using complex and confusing paper apps. Underwriting is slow and strict, pricing is not very competitive. New hires need to understand BEFORE YOU GO, how much working for New York life as an agent is going to cost YOU. Thats right, you will need to shell out quite a bit of your own money to earn the right to work at New York Life, at least we did in our branch. Make sure you have access to orphan accounts, our branch didn't since it was not a main office.

    Advice to ManagementAdvice

    At the branchou level be honest to people you are tying to hire. NEGLECTING to tell them of the costs of everything from E&O insurance, office space, printer paper, computer technology ect... is dishonest.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Strong company, high turnover

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Life Insurance Agent
    Former Employee - Life Insurance Agent

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

    Pros

    As a new life insurance agent, New York Life provides outstanding training on the different products offered. Very structured.

    Cons

    While the training was very structured, as a new agent and new to sales, the partnering with mentors was not a positive experience. Because of it being a very sales oriented business, it was also very cut-throat. There was no compassion or focus on the clients.

    Advice to ManagementAdvice

    Management by intimidation may work for some people, but will not motivate most people. Comparing two agents who are from two different generations borders on harassment. Not a good way to improve morale and motivate.

    Doesn't Recommend
  11.  

    Just Ok

    • 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 full-time for more than 8 years

    Pros

    Work/Life balance. Very stable company.

    Cons

    Very few growth opportunities unless you are working in the home office in NY

    Recommends
    Positive Outlook
    No opinion of CEO

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