10% retention rate, probably not even that high. - Registered Representative New York Life Employee Review

3.0
20 Dec 2013
Recommend
CEO approval
Business outlook

Pros

Can make good money on larger deals. The office I am in has decent human beings, just good people who are ethical for the most part. Training is solid.

Cons

Starve if not selling and cost of doing business comes out of your pocket. You will certainly need to get registered in order to have a shot at making it. You are not so much in the financial services industry as you are in the insurance industry. In the interview process, if you are polished and have a clean background, management basically sells you the job. This is the case in most 100% commission industries such as insurance and real estate. Once you get on board you have to trigger your full time contract, which isnt too hard....and they give leniency over the time they tell you it has to be done. After you trigger, your contract is set. Then you just continue to work any way you can to meet people. After 6 months the office expenses kick in....you pay for cube, internet, phone, web support, etc....around 250/month. That really starts to hurt when sales stop for a while. If you have a policy cancel in the first year you get charged back. You may end up owing the company money. Then you have gas, clothes, meeting expenses, etc.....basically, this is probably the toughest sales job there is. Also, during the interview they say the expense allowance acts as a monthly salary....they are deceptive with this and I do not know why, Keep in mind....in order to make any money at all, you must sell first. My advice, decide if its for you in the first 6 months before the expenses kick in....that should be enough time to figure if you can make a solid go of it.

Explore other reviews about New York Life

5.0
3 Jun 2026
Recommend
CEO approval
Business outlook

Pros

Great brand with high levels of training and support. Good work-life balance and supportive managers who don't micromanage. Benefits include good pay, decent PTO, tuition reimbursement, bonuses. Agents enjoy full autonomy over their schedule, the ability to work with clients they choose, and untapped commission potential. Training is strong, with clear advancement paths toward financial advisor and management roles.

Cons

Commission-only structure. Agents must generate their own leads with no real structure to daily activities.

5.0
9 Oct 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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