New York Life Fast Track Management Program

[Ryan1]

Hello all,

I recently graduated with an MBA and have an interview coming up for this position in the title.

Does anyone here have any experience with this program, or know about it?

In the job description it says, "Once you have met the program requirements, you’ll be able to transition into management as an Associate Partner." however I was wondering if anyone knew what those program requirements are, and how attainable they are.

Thanks.

 

[fed up]

It is a position that they offer to ALL college grads. Sell your friends and family, meet dollar goals, leave, and your friends and family are with NYL

 

[scagnt83]

Lol. This is a position that is offered to those even without college degrees if they are a good producer. (Im a former NYL agent)

You are applying to be an agent. Plain and simple.

IF you produce a certain amount each year, and IF you complete your ChFC, and IF there is a position open in your office.... then you can become an "associate partner". Which means you are basically just a manager to your team of agents... and successful agents often make MUCH more than their managers do.

Now if you are just dead set on going into management, then its a perfectly fine path to follow. Eventually, you could become "Partner" or even "Managing Partner", and then you are getting a cut of the whole office's production, not just your team.

But if you want unlimited income potential, along with flexibility and independence with your schedule.... then stay an agent. "Associate Partner" sounds fancy to those not in the industry... but for those of us in the industry... it basically means an agent who was not a big producer and needed a safety net for their income.

The ChFC requirement was around 13 years ago. Maybe that has changed. But you will absolutely be required to reach certain production requirements for a 3 year period before consideration for "associate partner".

You will also be required to recruit as a manger. So instead of selling people insurance, you are selling people on being insurance agents.... and that will be your #1 job requirement...

 

[scagnt83]

Oh, and you will definitely be required to get your series 6/63 securities license. If you want Partner or Managing Partner you must have a series 7.

 

[fed up]

My son returned to civilian life after 6+ years in military and 2 deployments. was sending resumes and got a call from NYL. He was looking for a job, they were looking to sell him LTC insurance

 

[Ryan1]

Thank you all for your responses, I appreciate them a lot.

One thing I am a bit confused about:

Lol. This is a position that is offered to those even without college degrees if they are a good producer. (Im a former NYL agent)

"Associate Partner" sounds fancy to those not in the industry... but for those of us in the industry... it basically means an agent who was not a big producer and needed a safety net for their income.

So are you saying that it is offered to the good producers but the good producers turn them down because it lowers their income?

Thanks.

 

[DHK]

Management = babysitting

And typically, those who are attracted to a "babysitting" position are those who are "barely making it" and are attracted to the salary guarantee. Managers job is to recruit (meaning "sell people on the dream of the profession) and hold people accountable to their activity and sales plan.

I've met some nice managers, but not necessarily effective managers. Nice, but unskilled managers & trainers are about as effective as having "hope" for a financial plan. It just doesn't work.

And somehow, they'll blame YOU for not "following the program" as they outlined it.

General Forum bias:
However, my experience *may* not be your experience. Keep in mind that this forum has a lot of former career agents and we're independent primarily because we had to find our own ways to succeed outside of their corporate programs. If we were successful there, we'd probably still be there and be happy about it. But finding our own path - without much of the unnecessary compliance supervision imposed - proves to be more rewarding and 'true' to ourselves. And we could have greater control of our expenses and earn higher commissions because we aren't compensating the office for ineffective training and leadership.

 

[fed up]

One last thing. When I interviewed with NYL after a leave of absence from the working world, I had a check in my pocket from the sale of a home for $100,000. NYL was short on the commission I would have received had I followed through and accepted the position and placed the business with them. There are other carriers who pay better

 

[Ryan1]

Management = babysitting

And typically, those who are attracted to a "babysitting" position are those who are "barely making it" and are attracted to the salary guarantee.

That makes sense. I didn't think of it that way since I come from outside the industry. Thanks for the perspective on that.

 

[DHK]

That perspective comes from jaded experience.