Had a Interview with NYL Yesterday...

[Kris.R]

Everything went great and I was shown all of the ways agent's can make big bucks in the industry. The hiring manager was very pleasant to speak with but I ALWAYS take everything with a grain of salt... Before I applied for the job I did some research on here and the comments were mixed both positive and negative. The one thing I found consistent on this site about NYL is that there training is really really good and one can benefit from that even if the pay isn't that great.

I'm posting this thread to hear about the real deal about the company from current of recently previous employees from NYL. I'm sure they will love me if I produce a lot but how will they treat me when I don't? I asked the hiring manager about the retention rate at their office and she stated 60% which seemed kind of high compared to what I have read here (more so 30%-40% retention).

I was shown all of the benefits from being a top producer and the hiring manager stated that NYL's top agent was her mentor (she stated that he made close to $6 billion a year).

I'm a newbie. Let me have it if you feel that is needed. I'm open to all and any advice and have thick skin.


THANKS!!!

 

[DHK]

I think you meant $6 million per year.

 

[Kris.R]

I think you meant $6 million per year.

Lol.... I may have... Any truth to this?

 

[DHK]

Why not? Here's MassMutual's grid of the average of the top 25 reps:

https://careers.massmutual.com/benefits

Average earnings of top MassMutual Financial Services Representatives in 2015*
Top 25 $1,919,082
Top 100 $1,074,735
Top 250 $710,627
Top 500 $509,678

And that would not include any commissions from other insurance companies that these reps may have also sold.

Can you replicate that success? I wouldn't count on it. Nor would I count on you being able to duplicate "the mentor" either.

Just ask yourself if their training program is actionable and can you easily communicate the benefits of your policies. The simpler it is, the easier it will be.

 

[Kris.R]

Why not? Here's MassMutual's grid of the average of the top 25 reps:



Average earnings of top MassMutual Financial Services Representatives in 2015*
Top 25 $1,919,082
Top 100 $1,074,735
Top 250 $710,627
Top 500 $509,678

And that would not include any commissions from other insurance companies that these reps may have also sold.

Can you replicate that success? I wouldn't count on it. Nor would I count on you being able to duplicate "the mentor" either.

Just ask yourself if their training program is actionable and can you easily communicate the benefits of your policies. The simpler it is, the easier it will be.

Can I replicate that success? And you wouldn't count on it? That answer is based on what? I wouldn't want to duplicate the mentor because I don't know his/her work life.

As far as training, I won't know about that until I go through it and asses everything in it's entirety.

 

[DHK]

Can I replicate that success? And you wouldn't count on it? That answer is based on what? I wouldn't want to duplicate the mentor because I don't know his/her work life.

As far as training, I won't know about that until I go through it and assess everything in it's entirety.

That answer is based on experience and knowing that no one starts out in the business earning 7-figures a year UNLESS they have a lot of money to throw into the process. Plus, I know OF 7-figure earners, but I don't know any PERSONALLY at any of the career agencies I was with. That simply proves that the vast majority do NOT hit that kind of production.

It's not impossible, but it's generally improbable.

Heres The True Story Of A Million Dollar Producer | northsideoptimists.com

If you could do that, why would you join NYL?

 

[jboussea]

How old are you? .. .

I probably woudn't focus on the salary for a few reasons
1. You are starting a business, there are upfront costs to starting a business, you might not see it now. BUt even if you produce a good chunk, a lot of your money would have to go back in the business for you to sustain it over time. When starting out, you should always expect to lose money even , for the first year or 2.
2. You might be on the right track but because you're not yet earning what you want , you become disappointed with the job. Your attitude changes and you then fall off track.

how about you talk to this top producer? and fi..nd out where is 6million comes from.. will you be able to replicate that in your first years? most likely not.

 

[Kris.R]

Oh ok I get it now. I'm not even in the mindset that I would produce that in the next 5 years because it's definitely not realistic. I know going in to this business that I have to spend money to make money.

 

[eersfan]

Success in this industry is activity driven...plus knowing how to prospect and ask for referrals. Far too many fail in the industry when they run out of "friends and family" to talk to.

 

[Kris.R]

Success in this industry is activity driven...plus knowing how to prospect and ask for referrals. Far too many fail in the industry when they run out of "friends and family" to talk to.

I hear ya! I'm a pretty motivated person in general... Plus having an 8 month old plus another on the way has me motivated like you wouldn't believe....