Only if you have a substantial professional network - Financial Professional New York Life Employee Review

2.0
May 14, 2024
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
1y
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.

Explore other reviews about New York Life

5.0
May 11, 2026
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Great culture and leadership team.

Cons

None as yet so far

5.0
Oct 9, 2015
Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

Right out of college, I had an opportunity with the New York Life. Being young I felt that I was at a disadvantage but I worked hard, I was relentless, and ambitious. My first full year, I was able to make a six-figure income. It wasn't easy but is medical school easy? Is law school easy? The training and development at New York Life was unmatched. I knew nothing about the Insurance and Financial Services industry until I was given an opportunity at New York Life and the training was exceptional and has led me to the success I have today.

Cons

You have to work hard, be relentless, entrepreneurial, invest a lot of time and effort into the business and above all, expect a higher standard of living and strive towards that goal every single day.

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New York Life Response
9y
Thanks for taking the time to share your feedback – we appreciate it. As you say, a successful career as an agent requires dedication and commitment. For many, including you, the professional rewards are worth it. But we do understand that starting out in this career is not always easy. That’s why we offer new agents continuous training and support, to give them the advantages they need to succeed.
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