New York Life

  www.newyorklife.com
  www.newyorklife.com
Work in HR? Unlock Free Profile

New York Life Reviews

Updated 22 September, 2014
Updated 22 September, 2014
720 Reviews
3.3
720 Reviews
Rating Trends

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

Review Highlights

Pros
  • They provide a great training ground for how to sell and scripts to use when selling (in 48 reviews)

  • Their compensation package is excellent and they have a superb I mean superb training program (in 27 reviews)


Cons
  • Be prepared to hassle friends and family to buy useless products (in 32 reviews)

  • No base salary (you will invest in the company before they invest in you) (in 26 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Summer Intern

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at New York Life as an intern for less than a year

    Pros

    I was treated like a valued employee and was given the same level of work as some of the associates

    Cons

    The company has many locations in the tri state area, making phone and video conferences a common mode of interaction as opposed to face to face working relationships

  2. 1 person found this helpful  

    Sales

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Sales Consultant  in  Windsor, ON
    Former Employee - Senior Sales Consultant in Windsor, ON

    I worked at New York Life part-time for more than a year

    Pros

    Great training for new hires.

    Cons

    Management only care about their own asses

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  3.  

    I thoroughly enjoyed my time with NYL as I felt like a true member of the team within such a short time period.

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

    I worked at New York Life as an intern for less than a year

    Pros

    Friendly staff and managers, great balance of work and life, competitive pay, multiple outside work activities.

    Cons

    I wish I had more training.

    Recommends
    Positive Outlook
    Approves of CEO
  4. We want your feedback – Are these company reviews helpful to you?  Yes | No
  5.  

    Great Company for the right person

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

    I have been working at New York Life full-time for more than 3 years

    Pros

    Flexibility of schedule is a huge benefit. Ability to purchase I Shares through MainStay investments w/o sales load is great. Ability to work as hard (or not) as you wish. Truly does have unlimited income potential - for the right person and the right personality.

    Cons

    Make sure when you sign up you really know your manager, their philosophy, their target market, their leadership style! I cannot stress this enough! My first manager was HORRIBLE! Actually insulted 2 of my close friends when insisting to come to initial meetings. Not much support if you don't rent an office in the building.

    Advice to ManagementAdvice

    Work with staff more closely to setup teams for those who desire to have camaraderie.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Great company to work for

    • 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 company to work for. The people are great to work with and the benefits are wonderful. I worked there for 15 years

    Cons

    The management in my department was not very good at all.

    Advice to ManagementAdvice

    Take better care of your people and stop showing favortism.

    Recommends
    Approves of CEO
  7.  

    Identity crisis

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

    I worked at New York Life full-time for more than 5 years

    Pros

    - Well-recognized company
    - established business units and distribution channels that you can gain experience in
    - being a mutual makes it less stressful but it's easy for things to fester.

    Cons

    - life insurance is king, if you are in any of the other business units it's easy to be pushed aside
    - CEO is running amuck doesn't have to answer to anyone due to executive retirements. Can get petty and that trickles down to managers. So that great 'we're all in this together feel' is eroding.

    Recommends
    Positive Outlook
    Disapproves of CEO
  8.  

    Rewarding

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

    I worked at New York Life full-time for less than a year

    Pros

    Get to set your own hours

    Cons

    100% commission. Trying to hard to sell the dream

    Advice to ManagementAdvice

    Be more upfront with the new crew

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Great management team and collaboration.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Associate  in  Austin, TX (US)
    Current Employee - Senior Associate in Austin, TX (US)

    I have been working at New York Life full-time for more than 3 years

    Pros

    HUGE on training and development. Tons of growth opportunities. Management is very hands on, and always willing to help with development and mentorship programs. Room for growth and overall well being in the company. Great benefit package and a very lucrative pension plan for those planning on staying with the company 25+years. Very thriving company and trusted brand. Always there to help the customer when needed.

    Cons

    Long hours, and considerable amount of time in the field.
    Lot's of outreach and time out networking, looking for leads, and building a market. Definitely not for someone that doesn't have thick skin. Lots more positives than negatives.

    Advice to ManagementAdvice

    Overall GREAT experience with management and staff

    Recommends
    Positive Outlook
    Approves of CEO
  10.  

    Agent

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

    I worked at New York Life full-time for more than 3 years

    Pros

    The company has a great reputation to build your business on. Flexible schedule once certain sales goals are met.

    Cons

    Straight commission and a "What have you done for me lately?" attitude that is persistent from all levels of management. Sales quotas were so demanding that there was always a threat of losing job due to automatic termination of contract that is out of the control of management. I actually tried to leave the company after 6 months but was told I was had not given the business a chance unless I tried for three years. It turns out the three years is tied to the bonuses that management receives once a recruit hits their three year anniversary.

    I also think that management should be more selective in who they hire. It was embarrassing who was considered a colleague once you were able to observe the lack of people skills that were exhibited from these new hires.

    Advice to ManagementAdvice

    Back up your words with actions and I don't mean just as the end of the quarter is approaching. Be a little more discerning when you hire. I know it is a numbers game but have a little respect for the company name. Stop being so self-serving. You are damaging peoples lives if this is truly not the career for them.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    No upward mobility

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst  in  Sleepy Hollow, NY (US)
    Current Employee - Business Analyst in Sleepy Hollow, NY (US)

    I have been working at New York Life full-time for more than 10 years

    Pros

    New york life has a good cafeteria in the Home Office but as of late, that's all the pro's I can think of.

    Cons

    Re-org = layoffs for the past few years. No communication from management before during or after. Rumor mill running wild about oct 2014. Get ready if your about to turn 5o and are making a decent salary. Your time will be up.

    Advice to ManagementAdvice

    Be human

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

Worked for New York Life? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.