NY Life

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Jun 8, 2005 7:42 pm

I told a NY Life rep that I was considering other firms, and was going to pass on there interview.  The dude almost threw a fit.  I'm glad I passed on that one. 

Jun 8, 2005 8:53 pm

Aye, they need to fill those seats.

Jul 7, 2005 3:47 pm

Yeah, I went to a NY life interview, it felt more like I was interviewing to join a cult.

Jul 7, 2005 6:21 pm
Gavo:

Yeah, I went to a NY life interview, it felt more like I was interviewing to join a cult.


This is actually a common phenomenon when an outsider first looks inside a group of successful people.


While I love to put down business cults, in general, there is often similarities, if a "cult of success" is cultivated (no pun intended).

Jul 7, 2005 7:26 pm

My perception wasn't one of success, if anything  they were very
desperate.  This is why I chose not to attend a second interview
even after they desperately called me day after day.

Jul 7, 2005 9:12 pm
Gavo:

My perception wasn't one of success, if anything  they were very desperate.  This is why I chose not to attend a second interview even after they desperately called me day after day.


One of the key ingredients in long term success, be it as an agent, broker, or manager, is persistence.


What you find bothersome is what separates you from those who are already successful.


Sales is a numbers game. You call it desperation because you don't understand how consultative sales in an incentive based system functions. On the other hand, I have 24 years of experience in several channels of financial services.


To the manager, you're just another number on a page. On average, the career agency system processes ~400 resumes to get one agent into the pipeline. LIMRA's career screen services have become a cottage industry, because of the large numbers of prospective agents that must be weeded through to find the odd duck that knows how to get ink on paper without having to be hand held like the typical product of NEA run diploma factories.


There are some super selective career shops that you could not buy an interview in, even if your last name was Gates, but that's not the norm. Having worked in both the super selective, as well as the agent mills, I know how they work.


In the agent mills, the hardest part is getting the agent to sign on. After that, if they have the fiery desire to succeed, even bad field management can't keep them back, and they can become a very profitable investment for that member of the distribution channel. That's the kind of agency you interviewed with, and they are common.


Selective firms, alternatively, spend their money before they bring the agent on, and that's why their failure rate is virtually zero. The selection process in these elite agencies can last many months. It's also why they have lengthy waiting lists for interviews by people with all the right qualifications on their resume.

Aug 7, 2005 4:15 pm

NY life sucks they will take anybody, especially from my town, the one I know is a real idiot. 

Aug 7, 2005 8:23 pm

Wow Riley44...


Very thoughtful and well considered post.  Did you work on it long?

Aug 8, 2005 3:32 pm

I interviewed with NYL and after having an offer I passed.  The reasons I passed were mostly due to the following: I was more interested in financial planning and investing in general, however, NYL wanted me to sell proprietary insurance products and proprietary mutual funds for two years before I ever got the chance to do any financial planning.  In addition their mandatory exam that you must take was a joke.  In addition, the interviewer told me how to answer the questions.