New York Life reviews

1. Zero salary - 100% commission. The "PTAS" the recruiting managers spout on & on about only kicks in if you make at least $500 FYC PER MONTH!! If you make $499, you get nothing. For new agents, this can be very demoralizing. 2. Maybe I just wasn't ready for this kind of work (and maybe the next thing I am going to comment on is actually commonplace in the insurance industry) but I have NEVER EVER worked for a company that would actually call people into a room, ask each one of you how much commission you made this week or last, and then tell you about Mr. So & So (who just happens to know millionaires in his natural market) making $40,000 FYC in the last month!!! I find this COMPLETELY demoralizing and does absolutely NOTHING to get me all "rah-rah's" up about my next 3 hour cold-calling session. 3. Personal time? Forget it. The "excellent work-life balance" that the managers who hire you go on and on about is completely bogus. They expect you to work all day and then return to the office each night and cold-call until 8PM until you make the requisite 2 appointments per day. For a new agent with a lousy natural market, this is almost impossible.

I would not consider New York Life the best choice for one starting out in the field of financial services. There are various circumstances which could hinder your paycheck and if this is your first job, this could be worrisome. If a client cancels the policy or if a policy lapses, you owe the company money. This affects your check and your salary amount received. If your bank account is not stacked up, you will not get your check until you pay back that money. Typically, college grads are trying to build their career and wealth. Many of us do not have the resources to be in a situation where our paychecks can be very volatile. The bottom line with the company is that it wants you to make the company money and if you are not, it's not their fault that your not getting paid.... That's not in the employee's best interest.