Does New York Life pay a base salary?

There is no base salary.

How much commission does New York Life make?

Starting commissions As a new agent, the first thing to understand is that there is no base salary – the job is 100\% commission-based. Having said that, your compensation is 55\% on 1st-year premium plans, 6\% on expense accounts, increasing to 54\% for accounts of $750,000 and up.

Does New York Life give you leads?

The company doesn’t provide any leads or budget money for presentation, client lunches, etc.

Does New York Life pay for training?

It is 100\% commission and the training allowance is only paid out if you hit the minimum. You exhaust your family and friends first – you are required to put 200 names and contact information into the system which they keep when you leave.

Is New York Life a good place to work?

81\% of employees at New York Life Insurance Company say it is a great place to work compared to 59\% of employees at a typical U.S.-based company.

How does New York Life make money?

A mutual insurance company, New York Life is owned by its policyholders and has no outside shareholders. As a mutual, New York Life distributes a portion of its earnings to eligible policyholders as annual dividends. As of 2016, the company has paid a dividend every year since 1854.

How much does a financial advisor at New York Life make?

Average New York Life Financial Advisor yearly pay in California is approximately $94,094, which is 30\% above the national average.

Does New York Life give bonuses?

Incentive plans can be done individually, per team or department, or companywide. The good news is that a great bonus plan is indeed a bonus for everyone—your team, your business, and yourself.

How long is the training at New York Life?

You’ll receive a full introduction to products and selling skills, including how to develop your client base. After an initial six months of sales training, you’ll spend two years in the Associate Program, an intensive experience that’s focused on life insurance marketing, product selling, and technical knowledge.

Is New York Life All commission only?

It is a commission only job, however, and the slow months are hard to bare. It’s a very competitive market so great job if you are well connected with the right people.