Interviewed with New York Life

[bogey]

Hi, have two questions for you.
1. What made you ultimately leave NYL?
2. What are you currently doing? Still in the industry?

I am about to sign on with NYL. Need some encouragement and want to confirm that I am making a sound decision. I'm a career changed. Brand new to the industry, so I can definitely use all the training that they are known for.
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Hi, thank you so much for the advice! About to sign on with NYL. You said a "certain type of person" makes it there. What kind of person would that be? What are you currently doing not that you are not with them? Are you an independent?

My only hesitation is the fact that they are a captive agent. YOu wouldn't be able to take your clients anywhere if you ended up leaving. What would be a typical career path for starting out with a captive? I participated in some MetLife training classes, and they didn't seem too structured. And now that they are not going to be hiring any inexperienced agents (which I am), it doesn't sound like they will be investing much in training them.

Any advice is appreciated!

 

[PurpleandGold]

I'm also thinking about joining New York Life. I have a friend who runs a local agency. I have my life license (got it when I piddled around with Primerica, only good thing that came out of that experience ), but going for my Health and Accident soon. So I also want to know about people's opinions or stories about NYL. I've read a lot of posts about their training is good, depending on the agency, and the whole being captive for 2 years bit. I know I'm not even close to being ready to be independent so I was thinking to be with NYL, learn the basics, and then possibly go independent.

 

[JimmehBone]

NYL has a pension? what theee, im about to retire in 20 years

 

[VolAgent]

NYL has a pension? what theee, im about to retire in 20 years

All the captives do, or did. I understand the NYL was pretty awesome.

That is why the people who do great at the captives never leave. If you suck or you are awesome, you'll probably do better in a career shop. Of course, if you suck they'll quickly get rid of you to. It is the middle of the road that do better independent. Some then grow to be big producers but then it is too late to go back under the career umbrella.

 

[JimmehBone]

Interesting to know, from what I read on here it seemed like independent was always the way to go. I just turned 21, if things go well with nyl I might just ride it out. I was kidding about the 20 yrs thing but at the same time its possible isn't it?

 

[VolAgent]

Interesting to know, from what I read on here it seemed like independent was always the way to go. I just turned 21, if things go well with nyl I might just ride it out. I was kidding about the 20 yrs thing but at the same time its possible isn't it?

Career comp plans are about delayed gratification, independent is about immediate gratification. Everyone is working with the same dollars, it is just about where it goes. Your manager is getting a substantial override on your production, but that goes down as your production goes up. Basically, most career contracts really start to take off when you are qualifying for convention every year. That is the magic number. Do at least 200-300k in production every year, and usually it really starts to explode.

Of course, first you have to sell. Second, you have to be able to stomach the local manager and the corporate culture.

 

[JimmehBone]

The manager seems like a pretty nice guy I went to the first interview in guess jeans and v-neck shirt (club night) cause I didn't have any dress clothes. I explained the interview was next day and I had no time to buy any, so he let it slide. I'm adjusting to the corporate world. I been 40-75 hours a week of construction since sophomore yr of high school. That includes swearing at your boss and having him cuss back lol. But since 18 yrs old I was my own tech, went into very high end homes on my own. So I have experience being very professional with customers in their own house. It's the selling part im nervous about. I hope its just cause I haven't been in any marketing meetings yet. I'm willing to do the work, go up to strangers, call random numbers. If it works, ill do it, idc how many no's I get.

 

[LGilmore]

Did the manager ask when you were going to buy suits?

If not, hate to say this, you're cannon fodder. It sounds petty and I don't mean to be, but NYL has a certain image a brand so to speak and I am a bit surprized. Now this could be the coolest sales manager in the company, but I kinda doubt it. Chances are he has to fill a recruiting quota.

I could be wrong, but look around when you're there and find out how many agents and what years they are in? If there are big gaps or 1 or 2 agents per "class", be aware.

That's something I should have picked up on, but that is why experience comes with time. The only class with more than 1 agent when I started was year 5, by my 3rd year there was no one between me and year 8. Successful offices have agents (notice the S) at every year out.
And I think the only reason I remained in the business at the time was I moved out into my own office 6 months in. Got away from that "help".

NYL is a great company. But like all great companies, it depends on where you hang your hat.

Good luck.

 

[JimmehBone]

You might be right, I saw an article that they are hiring a ton of people this year nation wide. He just said "good answer" when I told him why I didn't have one. At the end of the interview he asked me to come in to meet with a few agents. I didn't think to ask how many agents from each class were there. But they do have 23 agents with 20+ yrs nyl. I met with one nooby who was in his first year. Said it was tough but the good months make up for the bad. Also with another agent who was 25 and started when he was 21 like im doing. He has his own office and secratary wich he pays for. So cannon fodder or not im gonna run with it... this hiring process is so damn long

 

[xrac]

I'm also thinking about joining New York Life. I have a friend who runs a local agency. I have my life license (got it when I piddled around with Primerica, only good thing that came out of that experience ), but going for my Health and Accident soon. So I also want to know about people's opinions or stories about NYL. I've read a lot of posts about their training is good, depending on the agency, and the whole being captive for 2 years bit. I know I'm not even close to being ready to be independent so I was thinking to be with NYL, learn the basics, and then possibly go independent.

From Primerica to NYL is a huge leap and can only be positive.