Layoff and Bonus - Senior Associate New York Life Employee Review

2.0
29 Jan 2017
Recommend
CEO approval
Business outlook

Pros

Company's culture. But it is gone.

Cons

The company is outsourcing IT and Finance. CVPs seek to play reorganizing games to keep their positions. After announcing the group elimination with a departure date, CVPs decided to hire multiple entry level or even college students to replace Senior Associates. What is worse, they even want to force current employees to leave without the package. This is unfair and ruthless.

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New York Life Response
9y
Thanks for sharing your feedback - we appreciate it. At New York Life we are always working to meet the needs of our clients and maintain our leadership position in the industry. For example, we're investing in new infrastructure and process improvements and, when it makes sense, partnering with select companies to provide certain capabilities to us. Where this had an impact on our people, we take great care to provide benefits that include severance payments, outplacement services, and subsidies to defray the cost of health insurance premiums.

Explore other reviews about New York Life

5.0
12 June 2026
Recommend
CEO approval
Business outlook

Pros

They provide good benefits to employees.

Cons

The career ladder internally is limited.

5.0
9 Oct 2015
Anonymous employee
Recommend
CEO approval
Business outlook

Pros

Right out of college, I had an opportunity with the New York Life. Being young I felt that I was at a disadvantage but I worked hard, I was relentless, and ambitious. My first full year, I was able to make a six-figure income. It wasn't easy but is medical school easy? Is law school easy? The training and development at New York Life was unmatched. I knew nothing about the Insurance and Financial Services industry until I was given an opportunity at New York Life and the training was exceptional and has led me to the success I have today.

Cons

You have to work hard, be relentless, entrepreneurial, invest a lot of time and effort into the business and above all, expect a higher standard of living and strive towards that goal every single day.

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New York Life Response
9y
Thanks for taking the time to share your feedback – we appreciate it. As you say, a successful career as an agent requires dedication and commitment. For many, including you, the professional rewards are worth it. But we do understand that starting out in this career is not always easy. That’s why we offer new agents continuous training and support, to give them the advantages they need to succeed.
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