New York Life reviews

One giant step backwards. The Company culture (driven by Human Resources) continues to embrace out dated processes, methodology and technology (we've done it this way for the last 50 years, why change)? In the rare instance that NYL does attempt something new and it becomes difficult or challenging, NYL immediatley withdraws and returns back to its former way. There is very little in the way of embracing change, nor is there a demonstrated appetite for improvment if it involves change. Average employee tenure may be twenty plus years, however, there seems to be a huge voluntary turnover with newly hired employees with two years or less service. The revolving door of new hires may very well be tied to the long serving, tenured leadership (in some instances, dinosaurs), which continues to resist improvement if it involves change.

Absolutely no base salary- to survive comfortably and avoid the 80% of employees who quit within the first year, a nest egg of 4-6 months living expenses is recommended. Those with families, mortgages, recent college graduates be warned! No referals/ leads/ prospects of any sort provided; New employees advised to first target "warm market" ie friends and family with service solicitations. Those who do not continously fill the pipeline, always asking for referalls will eventually run out of people to call on...no new prospects = no more income. Lag time on compensation payments a given, however some cases far worse than others. To receive full compensation on a new policy, clients must complete a number of requirements and even the most efficient sales agent will tell you there are some clients that for whatever reason just take their time to complete them. Although most will push through smoothly if the sale is made effectively, be warned that your compensation and livlihood is dependent upon far more than the initial sale (especially if the client is declined in which case you wasted your time)