New York Life reviews

3.7

63% would recommend to a friend

(5,496 total reviews)
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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
5.0
Jan 12, 2017

Agent

Recommend
CEO approval
Business Outlook

Pros

The opportunity is limitless regarding moving up the ladder. If you want to go from agent to managing partner, there's a clear cut path to follow. There's no cap on what you make as an agent, which is my favorite part. What you work for - you earn! The Development Managers, Trainers, and Partners at New York Life go above and beyond to help the agents succeed. You just have to put in the effort! It's a commission-only business, so if you don't work, you don't get paid!

Cons

You're on your own to grow your business. You find your own market(s), generate your own leads, and work with what you have (or don't have) to make it as an agent. It's tough coming from only having worked the standard 9-5 job, and any real residual is recognized after a full year. No sales, no money. There's no salary and training allowance is paid upon sale of products years 1-3 after hire.

4.0
Oct 6, 2017

Sales Agent Review

Recommend
CEO approval
Business Outlook

Pros

This is a position where you get what you put in - period! This is not a job, but a business. If you see this as a job, then you will not be upset when you have to come out of pocket to pay for things to help you grow your business. I have been with the company now for a year. If you listen to the management team and follow the training program, you can be successful. There is a networking system that you will learn - follow it. The company offers university type training, benefits like group health, dental, vision, and 401K, and management support. In the first year, you get a lot of bonuses to help you build your business. But you must first write a certain amount of business each month to get the extra bonus money. If you do, it helps you survive when money gets low and bills need to be paid. You can get several awards that you must get in your first year. I find that the people who do not hit the ground running, tend to fail. Stay consistent, win awards, and study to find success. This is a great company to build a career but it will not be an easy journey. Find great mentors and stay positive. Do not do this business just to make money because you will fail. I love the industry and I know no matter where I go, putting in the hard work the first 3 to 5 years is crucial. So, because NYL has great products, name recognition, and is a mutual company, I have an advantage.

Cons

New York life can do a better job at being transparent in the interview stage of the process. They show you the perks, but do not share that it can be tough if you don't have a savings or significant other to help you financially when you hit rough patches. They don't share all the fees they charge you to work for them life desk, portal, ect.They don't tell you that you lose some important bonuses your second year. They don't tell you your contractual requirements during the interview, only after. They don't talk about reversals and how that can hurt your business. They don't tell quick they will let you go at the end of the year if you did not meet your contractual requirements. Also, depending on the office you work out of, there can be too many meetings that take you away from sales, which is never good.

1.0
Sep 24, 2016
Recommend
CEO approval
Business Outlook

Pros

Free cheap pizza on Fridays... sometimes.

Cons

Hard to keep a straight face while pretending to take anyone in this organization seriously. Being forced to deal with the fact that your career is dependent upon people who pretend to be Financial Advisors but can't even pass the Series 6 on the first try, much less the 7. Having to keep your mouth shut about public disclosures on google and brokercheck.org that management blatently lies about to clients, prospects and employees including bankruptcies, fraud charges involving former mayors of Atlanta, FINRA licenses that don't exist, etc. Having to look at yourself in the mirror after pretending all day that an Insurance license qualifies anyone to give advice on retirement planning. Keeping yourself from breaking out in hysterical laughter in meetings led by people with extremely low IQs who talk down to you.

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New York Life Response
9y
Thank you for taking the time to share your feedback. We would like to get more information about your comments. If you are willing to provide more details, please contact us via our Ethics Hotline at (888) 331-0619 or via our website at: https://secure.ethicspoint.com/domain/media/en/gui/23192/index.html. Both the hotline and the website are anonymous.
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