New York Life reviews

3.7

63% would recommend to a friend

(5,496 total reviews)
avatar

Craig DeSanto

79% approve of CEO

63% positive business outlook

New York Life has an employee rating of 3.7 out of 5 stars, based on 5,496 company reviews on Glassdoor which indicates that most employees have a good working experience there. The New York Life employee rating is in line with the average (within 1 standard deviation) for employers within the Insurance industry (3.7 stars).

Reviews by job title

5K reviews
4.0
Nov 10, 2008
Recommend
CEO approval
Business Outlook

Pros

The company proved to be secure in the difficult times. It has laid back and friendly environment, with senior management being very approachable. Flat structure of the organization allows taking more responsibility. New York Life Investment Management provides excellent work / life balance for its employees. The compensation level is lower then at other companies in the same industry, but good benefits package partly compensates for it. I think it’s more beneficial to join New York Life Investment Management at a senior level versus entry level, since the company does not have a well developed process for promoting entry level analysts.

Cons

Lower salaries compared to industry Tiny yearly salary increases Hard to get promoted High level of bureaucracy, Too conservative

3.0
Nov 3, 2008
Recommend
CEO approval
Business Outlook

Pros

Very good benefits; A real old-fashioned pension; Company-wide respect for employees' quality of life; minimal pressure; rarely necessary to work overtime or weekends; free gym on site; free blood tests, cholesterol screening and other health needs available on site; company is stable and appears financially strong and sound; employees are given half-day Fridays in July and August.

Cons

Management tends to stick with the "known" and can be resistant to innovation and change; some employees in management positions appear to have been given promotions solely due to seniority and not for proven competence.

4.0
Oct 11, 2008
Recommend
CEO approval
Business Outlook

Pros

The company is very conservative when it comes to managing the business. They have the highest ratings from all four rating agencies. Most likely, your job will go nowhere. New York Life also pays a good salary, but this depends on your job there, of course. Their actuaries in the entry level I would guess are one of the best paid. The job is not so stressful. Deadlines do not come very often. And I do not think they have laid off people too often. In short, your job is safe and secure. Management is readily available. Good benefits. They give a small bonus at the end of the year too. In my marketing department, salaries were not bad, at least the average out in the market.

Cons

1. Very conservative culture. I do not mean this politically. I mean this in terms of business strategy. They do not like to try new things. They will stick with the basic life insurance. This actually might end up being a good thing. I wish the bonus pools were bigger, closer to that of an investment bank, because we are policy owner owned. They should care less in making their already big reserve surpluses bigger and pay much bigger bonuses.

Viewing 5476 - 5478 of 5,496 Reviews

Glassdoor has 6,536 New York Life reviews submitted anonymously by New York Life employees. Read employee reviews and ratings on Glassdoor to decide if New York Life is right for you.