I go to an interview next to NY Life and feel more approaching I be individual sold something. What's up next to that?
My senses tell me that I'm being duped. What's the authentic downlow on NY Life?
NY Life has one of the best traing programs in the nation. If you manufacture it you will make good money near a reputable comapny. Look around the office what do you see.
I started at NYL and about 1 of 15 made it and it be a great place to start. I was one of the one of course. I worked complicated, did what they told me and I was rewarded as they said. I was never lied to.
They are selling you something: the perception of a career making unlimited money. Agency training programs often come to nothing. Also the recruiters and managing partners are always so busy because for every 10 society they recruit, only two will be paid it in the business! If you're going to go into the insurance industry, focus on a company near a strong Property & Casualty presence ... not just a life insurance company. You will find it exceptionally hard to eat on the commissions ... and their so-called programs that they used to relief you where they give you money: you typically enjoy to pay it back or congregate high minimums (high for new agents) to go and get it, so don't let them make you ruminate everyone is getting this "help" money. I would avoid NYL, and look at an Allstate or State Farm, or a Nationwide ... someone with a strong agency training, and again ... P&C. P&C is the bread and butter of the business because people NEED it ... they may other need financial products or life insurance, but they typically put it LAST on their record of priorities and where to spend their money. Good luck.
Answers: You already had some great advice only let me add this, 80-90% of hot agents fail inthe first year. I started at NYL amd I am the only one from 25 agents that be still in business 2 years later.
Most of these sale managers will make a prospective agent be aware of like they are the best recruit the planner has seen within years. You were being sold, use your instinct if you start stale with a bad premonition it will only get worse.
The recruiter has to sell you on the hypothesis of being an agent. Some can make it nouns like the best thing on dirt. They do this because if they told the truth, that 95% of new agents quit the first year and half of those remaining quit the second year, they would receive very few people to sign up. They also don't report to you that working 80 - 100 hours per week when you first start is the norm for agents that succeed.
Being an agent can be great, but if you're just starting out you need to enjoy at least 2 years living expenses saved up so you can put your commission income stern into the business.
Insurance companies are pretty low. They will "train" you. The training is to deal in insurance to your family.
It depends on the individual. NYL agents do vastly well if they have the talent. Their disaster rate is the same as everyone else starting in business for themself. That's why most relatives have jobs. If you took the presentation negatively, consequently I would suggest you work for some small local agency that will give you leads and acquire you making money right away if you have selling skills. NYL is a major commitment and it depends on who you know already that can lend a hand you by being clients or referring. After all, you are next to NYL. Look for something lighter like working with seniors if NYL isn't right.
The break even point on the long term utility of the clients you bring them is pretty low. So most new relationships are pretty advantageous to them. If you don't disrupt the culture, they will probably make money on you.
Also, they want you to hear the stuff something like why mutual companies and why NYLIC so that you can repeat it easily later on. Any company will try to convince you their company is the best (without motto that of course), that IS part of selling. I kind of own a hard time with the occupation company model, but as hard as it is to start there, it is subsequent to impossible to start on the brokerage side.