New York Life Reviews | Glassdoor.com.au

New York Life Reviews

Updated 14 February 2019
2,315 reviews

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3.6
StarStarStarStarStar
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Recommend to a friend
Approve of CEO
New York Life Chairman, President and CEO Ted Mathas
Ted Mathas
1,133 Ratings

Employee Reviews

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Pros
Cons
  • "expect you to sell to all your friends and family before really teaching you anything" (in 94 reviews)

  • "No base Salary could work on that so people would stay longer" (in 93 reviews)

More Pros and Cons

  1. Helpful (1)

    "Financial Analyst"

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

    I worked at New York Life full-time

    Pros

    Nice office, the interview process was not long

    Cons

    It is a sales position and you have to sell insurance to your family and friends first


  2. "Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Services Professional
    Current Employee - Financial Services Professional

    I have been working at New York Life full-time (Less than a year)

    Pros

    If you do well, you have the potential to make more than you've ever made. There are many moments you feel you are truly helping people.

    Cons

    Very, very hard to start. You need 3-6 months of savings before starting. But, if you can make it past your first 5/6 months, things can really take off and its worth it

  3. "Solid company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at New York Life full-time (More than 5 years)

    Pros

    Solid company that can provide a lot of stability to your life. Administrative roles are busy and fast past - lots of learning opportunities and great resources.

    Cons

    Large organization. Sometimes hard to navigate.


  4. Helpful (1)

    "Not bad, not great"

    StarStarStarStarStar
    Former Employee - Sales Associate
    Former Employee - Sales Associate
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at New York Life full-time (Less than a year)

    Pros

    Flexible hours, large potential salary

    Cons

    Lead generation is a tough gig


  5. "Agent"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Great support system, truly wonderful products.

    Cons

    Not the job for everyone. The need to find your own customers requires a certain level of social aptitude.


  6. "Agent review"

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

    I have been working at New York Life full-time (Less than a year)

    Pros

    Have the flexibility to create your own schedule, essentially running your own business. Income potential is unlimited.

    Cons

    Have to me organized and schedule your time efficiently


  7. "Don't Expect Transparency"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Agent in Seattle, WA (US)
    Former Employee - Agent in Seattle, WA (US)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at New York Life full-time (More than 5 years)

    Pros

    Will force you to overcome fears and pursue the best version of your self.

    Cons

    Prospect Friends & Family, High Pressure for Production, no consistent or stable income.

    Advice to Management

    First, start by being upfront about what the role of a new agent is. The New Org is a CAT or Client Acquisition Tool. Also, be selective about who you are bringing into the business. Agents without at least 10k in savings are unlikely to succeed. Charging new agents for infrastructure while taking 30 to 60% hair cuts is a bit excessive. Plus, most agents should not be at a cubicle wasting time calling unqualified "leads". Instead, they should be out building relationships with referral sources or splitting cases with experienced agents/brokers. They can only pursue this if they are aware of the activity (Your Job is to Educate Them)

     Keep in mind that many might learn the basics from NY Life but will move on after being exposed to the full potential of the insurance industry/space.

    My experience at NY Life was obviously not positive which doesn't define the career opportunity. I just wish my Senior Partner/Recruiter was transparent and honest about what we were trying to do. That is, Sell Life Insurance products like Whole Life, CWL, Guaranteed UL & some Term while also earning the Series/Certs needed to sell VUL, Variable and Also Fixed/Index Annuities. After 3 years, NY Life will take anywhere between 35 & 65% of street level commissions. The justification is for the many hours of coaching, training and Belief System Development.

    I hope this helps.

  8. "Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Partner in Jackson, MS (US)
    Former Employee - Partner in Jackson, MS (US)
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at New York Life (More than 10 years)

    Pros

    Training is excellent. The company has tremendous integrity.

    Cons

    Limited product portfolio, No Salary starting out


  9. "Partner"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Partner in Orlando, FL (US)
    Current Employee - Partner in Orlando, FL (US)
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at New York Life full-time (More than 3 years)

    Pros

    allure/ training/ benefits/ exclusivity always

    Cons

    strict/ regimented/ exercise favoritism/ name calling/ upper management harassment/

    Advice to Management

    Accountability fallout

    New York Life Response

    13 Feb 2019 – Head of Engagement Communications

    Thank you for your feedback. We take your concerns seriously and would like more information. Please contact our Ethics Hotline, which provides an anonymous way to report your concerns, at... More


  10. Helpful (3)

    "Buyer Beware"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - CVP
    Former Employee - CVP
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at New York Life full-time (More than a year)

    Pros

    Large organization with a lot of funding

    Cons

    There are many broken processes.

    Advice to Management

    Don't just have lip service. Make decisions and stick with them.