I'm currently in a management position at a bank and I was recruited by New York Life to be an agent, with a possible fast track into management because of my experience. At first I was flattered, but it appears as though recruiting is a requirement to break in to management. Anyway, does anyone have experience working as an agent at NYL? In the interviews they talk the company up like it's the best in the industry. Their track record seems to support that, but any insight from within would be appreciated.
Have never worked there but my understanding is it's pure sales and you have to bring in significant business/ national level numbers for 3-5 years to be considered for management
You just got scammed!
Not working as an agent for NYL but I know it for a fact that - Successful career agents at NYL do really good for themselves.
"fast track" with the other people this recruiter scammed
As someone who worked on the tech side for NYL (so, take this with a grain of salt--) working as an AGENT for NYL is a contractor-like role. It's very tough, freelance-esque work and most people do not succeed (I've seen the #s, most ppl burn out in 2 years) You need a lot of grit and go-getter spirit to succeed as an agent. If you want a cushy, predictable role, this is not it. But like any sales-type role, the sky is the limit on earnings if you can make a space for yourself. Just my two cents.
Thank you. I'm worried about burning out myself. I'm great with sales and relationship management, but I'm concerned about the prospecting aspect of the business. I've always worked in a bank, where clients are walking in the door all day. There's no foot traffic in insurance. That makes me nervous.
Yeah, the lack of foot traffic + the hard sell you have to make to SELL someone life insurance in the first place is nothing to scoff at. However, I don't want to make it sound like NYL is all bad - they're a company who puts their customers first and are very unlikely to do badly in the prospective economic recession (if it ever comes lol) But possible burn-out is something you should keep in mind, because the odds are indeed stacked against you.
You can definitely be successful there but it won’t happen soon and it will take a lot of hard work. Probably 5-7 years at a minimum.
Also frankly speaking, if you're already in mgmt at a bank, don't move to Life Insurance, it's even slower processes there lmao
My main concern is income. I'm working really hard for a crap salary and a terrible incentive plan.
I get it, but just be sure you have a realistic expectation for salary #s for this new role.
You went from management to another company...because they promised to fast track you to management in the future? I'm confused, because you present the situation as reaching management level is the payoff, but you're already management where you currently are. So why the jump?
"a possible fast track into management" lol
I'd stay away from New York Life.
Elaborate?
Yeah I'd like to hear more as well. I'm considering moving there