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New York Life

Engaged Employer

New York Life reviews

3.7

63% would recommend to a friend

(5,497 total reviews)
avatar

Craig DeSanto

79% approve of CEO

63% positive business outlook

Ratings by category

4.2

Diversity & inclusion

3.8

Culture & values

3.8

Work/Life balance

3.6

Senior management

3.6

Career opportunities

3.4

Compensation and benefits

New York Life has an employee rating of 3.7 out of 5 stars, based on 5,497 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).

Ratings by demographic groups

Reviews by job title

5K reviews
2.0
May 14, 2024

Only if you have a substantial professional network

Financial professional
Recommend
CEO approval
Business Outlook

Pros

Generally good training, managers care. Lots of learning opportunities.

Cons

LOW PAY especially if you do not have a big natural market that you can draw on. I transferred in from a totally different field. The job was sold to me as "our products sell themselves" and something that would get easier and easier as time went on. I was told that $80,000 was a very realistic expectation for salary. My first W2 for work from May to December was for ~$9,000 When I triggered my contract, I almost immediately fell behind and lost my activity stipend. Effectively, I've been working commission-only when I was promised that base pay would be pretty simple to make. Starting my second year, I still need a weekend job when I'm a licensed financial professional. I've heard and seen similar stories from others. NYL depends upon your natural market for business, to the degree that it ends up feeling like a pyramid scheme. DO NOT work here if you are not comfortable reaching out to your immediate friends and family. I could see this company working out for somebody who is coming from a related background (CPA, Banking etc) and already has a large book of professional relationships to call and do business with. I have had an overall good experience with management, but it depends on who you get. Some of the partners are not sympathetic to "excuses."

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New York Life Response
2y
Thanks for your feedback. Our agents are compensated for the work through commissions. Being commission based puts you in control of how much you make, which can be both exciting and challenging. In addition, we offer competitive benefits, as well as a defined benefit pension plan that makes our compensation package one of the best in the industry. During the hiring process, we are sure to provide specific detail on how our commission based structure works. We take your concerns seriously and would like further information. We encourage you to email us at helpusimprove@newyorklife.com if you would like to share specific details about your experience.
3.0
Aug 19, 2016

Continual upheaval vs legacy politics=heartache

Senior associate
Recommend
CEO approval
Business Outlook

Pros

I really loved working for the company at first. Excellent pay, good corporate citizen, etc. Family atmosphere but also dedication. Certain parts of the company (e.g. Investments) were more advanced than others.

Cons

The Ted years have left many heartbroken. On one hand, you have (had) a dedicated workforce, willingness to do anything for the company, etc. On the other hand, those same people were holding back the company with archaic technology and processes. New guard comes in and promises to improve the legacy infrastructure -- slashes and burns decades of work. As that is going on, the last remnants of the old guard are fighting a political battle to demonstrate why we still need mainframes. Stuck in an endless loop of inefficiency the last few years where nothing gets done.

3.0
Feb 11, 2021

Ehhh...

Financial representative
Recommend
CEO approval
Business Outlook

Pros

Excellent Training with a Flexible Schedule

Cons

!!!Listen to me: No matter what they say they will require you sell to your friends and family!!! If you're ok with that cool. If you want to alienate yourself from your friends and family, this is the job for you. I almost took a job with NW Mutual but hated they made you sell to your friends and family. I went with NYL because I was told I didn't have to do that. Definitely "Frat Boy" mentality, even amongst the women. If the "partners" get nervous they would rather let you go then actually work with you. Takes a long time to get contracted and you have to pay for all your contracting and appointments for the company. No real help to get on your feet. Since this is a 1099 position you are responsible for all costs, even all marketing materials. Come to this job with money in the bank...you'll need it!

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