New York Life

  www.newyorklife.com
  www.newyorklife.com

New York Life Reviews

Updated 22 November 2014
Updated 22 November 2014
771 Reviews
3.3
771 Reviews
Rating Trends

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

Review Highlights

Pros
  • They provide a great training ground for how to sell and scripts to use when selling (in 55 reviews)

  • Their compensation package is excellent and they have a superb I mean superb training program (in 31 reviews)


Cons
  • they tell you to sell insurance to your friends and family and when you leave they treat (in 37 reviews)

  • No base salary (you will invest in the company before they invest in you) (in 29 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 2 people found this helpful  

    Great Company to work for or contract with.

    • 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 as a contractor (more than 5 years)

    Pros

    Excellent opportunity to become an entrepreneur, great support system, opportunity to earn unlimited income, great trips. The company genuinely care about their clients and being there for the long run.

    Cons

    The target markets you work in or from should really be caliber clients. Straight commissions is rough as an agent. Its a challenging industry but the need is there.

    Recommends
    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Financial Services Professional

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

    I have been working at New York Life full-time (less than an year)

    Pros

    You make your own schedule, and the training into the Financial Services Industry, or Financial Planning is good. You are trained from day 1 to push NYL Products and Services. They will ask you to come up with a list of 200 people within your network to solicit to, and you will be expected to "trigger" as soon as possible and start making sales. They pay for your licensing, however not the materials to study, and there is no base salary, 100% commission. If you are good at New York Life, then you get paid very well, if you are mediocre, expect to make next to nothing. There is great support and unlimited resources for you to fall back on if you have questions or need help with clients, but you are thrown to the wolves to come up with clients and build a book of business. This is a difficult job to do, so do not take it if you think it will be easy. NYL is a great place to start your career and get experience in Finance.

    Cons

    You make your own schedule, meaning you are responsible for generating leads and creating a book of business. There is a good work-life balance to the established agents, but for a new comer, expect to devout a lot of time in the beginning without seeing a return (paycheck). Do not step into this role if you think it will be easy, it is difficult work, reflected in the attrition rate of upwards of 90%.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    New York Life Response

    Nov 24, 2014Sr. Partner

    Your thoughts regarding your career experience so far are greatly appreciated. Thank you for taking the time to post them.

    The people who you initially listed are not expected to all be
    ... More

  3.  

    Not perfect, but not too bad of a place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Developer in Tampa, FL (US)
    Current Employee - Software Developer in Tampa, FL (US)

    I have been working at New York Life full-time (more than an year)

    Pros

    Great benefits
    Great coworkers
    Great work-life balance
    Not too stressful

    Cons

    Outdated technology. There's still a lot of old apps being used dating back more than a decade. Some teams are working with more cutting-edge technology, but many are still maintaining VB6. But they're coming around and trying to be more current. They're in the process of going through a tremendous amount of change to make things better, and some old-timers with the company are not exactly thrilled. Their salaries are a little on the low end, but they make up for it with great bennies. They tend do a poor job at vetting people before hiring them and acquiring talent (not many people want to work with old technology) so this has caused a lot of incompetent people to come through the door. They also hire a lot within, which is good if you want upward mobility, but bad because you don't have many people with outside knowledge, and veteren people are resistant to change. Yes it's true that there are some "pet employees," particularly those who play golf (ahem), but if you do a good job and keep a good attitude you can shine as well. Typically the ones who complain about this on here are those who had subpar skills.

    Advice to ManagementAdvice

    Be more progressive technology wise.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    work balance company

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

    I worked at New York Life full-time (more than 8 years)

    Pros

    with good work and balance, structured business environment

    Cons

    insurance industry with moderate pace of business innovation

    Recommends
    Neutral Outlook
    Disapproves of CEO
  6.  

    Good company but too many reorganizations

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at New York Life

    Pros

    Good team members, good benefits.

    Cons

    Too many reorganizations. Too much weekend work.

  7.  

    Insurance sales

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at New York Life

    Pros

    Good people, professional energized environment

    Cons

    Had a better opportunity, I made the choice to move on

  8.  

    Not bad. Slow career growth but good benefits

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at New York Life

    Pros

    Average salary. Good time off and benefits.

    Cons

    Not much room for advancement. Good to get into the industry and move on from there.

    Advice to ManagementAdvice

    Peeling out layers of middle management just served to log jam things further.

    Recommends
    Neutral Outlook
    Approves of CEO
  9.  

    Great internship experience at New York Life

    • 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 mentors, great opportunity for corporate advancement

    Cons

    the pros out weight the cons

  10.  

    Overall a great experience, especially for my first "real" corporate style job

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

    I worked at New York Life as an intern (less than an year)

    Pros

    The culture at New York Life is really something special. Everyone is extremely approachable, ready to answer questions you may have, and always willing to help. Although I was only an intern, I was given "real" responsibilities within my department, which definitely contributed to the overall focus I needed to have each day. I learned different systems, increased my Microsoft Excel skills, and was able to network with a ton of great people.

    Cons

    The only two things I wished I had more of was: feedback and a bit more diversity in the work I was doing. I understand as an intern some of your tasks are limited, but at the very end of the internship I wish some of the work had not become so repetitive.

    Advice to ManagementAdvice

    (At least in my area) - a bit more feedback would be nce

    Recommends
    Approves of CEO
  11.  

    Love the company not easy job to do though.

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

    I worked at New York Life full-time (more than an year)

    Pros

    Benefits, Incentives, Multiple competitions to make extra $$$, Council is good for family, training is excellent

    Cons

    If you only have your life and health you're gonna be sad and miserable. Believe me!!! Must find own clients and build your own relationships. Mandatory phone calls from 6-8 pm every monday for 3 years.

    Advice to ManagementAdvice

    Give more leads and be up front with agents. Let them know how hard it is.

    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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