What Employees Say
Management is honest and ethical in its business practices.
I'm proud to tell others I work here.
I am able to take time off from work when I think it's necessary.
I feel good about the ways we contribute to the community.
Management is competent at running the business.
What They Do
We asked New York Life Insurance Company to explain what they do. Here is what they had to say.
New York Life is America's largest mutual life insurance company. We provide insurance, retirement, and investment solutions along with expert guidance to help our clients achieve lifelong financial well-being.
About this Company
| Website: https://www.newyorklife.com/|| Industry: Financial Services & Insurance|
| US Headquarters: New York, New York, 10010|| US Sites: 194|
| Major Locations: Manhattan and Westchester County, New York; Atlanta, Georgia; Austin, Texas; Bloomington, Minnesota; Cleveland, Ohio; Dallas, Texas; Jersey City, New Jersey; Lebanon, New Jersey|| US Employees: 8,866|
| Worldwide Revenues: $45,900 million|| Corporate Structure: Private|
| Founded: 1845|
Perks and Programs
We asked New York Life Insurance Company to share a few programs they feel really capture what's unique about their workplace. Here is what they had to say.
- Employee Pension Plan: In addition to our contributions to 401K plans, New York Life offers a defined-benefit pension plan that provides a guaranteed source of retirement income for vested participants.
- Training & Development: New York Life provides world-class learning and development opportunities for employees at all levels, including comprehensive new hire training, skills training for employees in all roles, personal effectiveness training, and leader development. Our learning programs have been given top awards by Training Magazine, Chief Learning Officer Magazine, and HR.com
- "Applause" employee recognition program: Being recognized makes us feel engaged, valued and appreciated for our contributions and recognizing someone else's contribution can feel even better. Our "Applause" program gives every employee the opportunity to recognize a colleague by nominating them for making an exceptional effort, going beyond what's expected, producing outstanding results, or embracing New York Life's values. Employees receive public recognition and awards that can be worth several thousand dollars.
- Employee Resource Groups: Our seven Employee Resource Groups (ERGs) are a key component of our diversity and inclusion strategy. Run by employees, these networks are voluntary, inclusive, non-political, non-religious and open to all employees from any office location. Our ERGs help us to foster an environment at New York Life in which differences and unique perspectives are encouraged and valued.
- On-site fitness facilities and wellness programs: New York Life offers on-site fitness facilities in our Home Office location as well as many of our sites around the country. In addition we offer free Fitbit fitness trackers to all employees. We also offer on-site wellness centers in many locations, providing services from doctors, nurses and nutritionists to employees free of charge.
- Charitable giving and volunteer opportunities: In 2016, the New York Life Foundation contributed over $22.35 million, primarily to national charities which help children in our two areas of focus: educational enhancement and childhood bereavement. In 2016, our people volunteered over 150,000 hours, benefiting more than 380 non-profit partners through our Volunteers for Good program. The Foundation also matches an employee's contribution to a school, childhood bereavement organization or strategic grantee, up to $5,000 annually, and provides employees with the opportunity to apply for Community Impact Grants, which were valued at $1.7 million in 2016.
- Tuition Reimbursement: New York Life offers tuition reimbursement for undergraduate degrees in any subject as well as qualifying graduate programs (e.g. MBA). We will offer full reimbursement if you achieve an A or B grade, and reimburse 50% of tuition if you get a C.
COMPENSATION BY THE NUMBERS
| 4% Match of employee’s 401(k)/403b contribution up to 5% of salary|| 20 hours Weekly hours required for part-timers to receive health insurance|
WORK-LIFE BALANCE BY THE NUMBERS
| 32 days Paid time off after one year of full-time employment|| Set days Paid sick days after one year of full-time employment|
WORK-LIFE BALANCE PROGRAMS
- Telecommute option (8% use it)
- Subsided On- or Off-site Fitness
- Medical facilities (at some locations)
- Onsite Amenities (Subsidized cafeteria at some locations)
FAMILY CARE BY THE NUMBERS
|180 days Job-protected maternity leave (including FMLA/STD) ||50 days Fully-paid maternity leave (does not include personal vacation or paid time off)*|
|147 days Average length of maternity leave new mothers take||180 days Job-protected paternity leave (including FMLA)|
|20 days Fully-paid paternity leave (does not include personal vacation or paid time off)*||26 days Average length of paternity leave new fathers take|
|$10,000 Adoption benefit||180 days Job-protected parental leave for adoptive parents (including FMLA)*|
|20 days Fully-paid parental leave for adoptive parents (does not include personal vacation or paid time off)|
FAMILY CARE PROGRAMS
- On-site or near-site backup childcare center
- Paid sick leave to care for a child or relative
HEALTH INSURANCE COVERS
- Alternative treatments (such as acupuncture, homeopathy, or chiropractic)
Community and Environmental Impact
| $22,350,000 Philanthropic donations in last year|| $2,600,000 Total company-matched employee donations in last year|
- Vice President Chief Diversity Officer is responsible for the success of formal recruiting and retention diversity goals
- Written policy prohibits discrimination based on (at a minimum) age, disability, race/ethnicity, religious beliefs, gender and sexual orientation
- Formal programs (such as resource groups, mentorship, networking, or other affinity groups) support professional development for: Under-represented racial/ethnic minority groups; Women; Lesbian, gay, bisexual or transgender employees; Disabled employees
- 45 events a year connect employees with peers from different racial/ethnic, religious or country-of-origin identities
- Non-birth parents in same-sex relationships can take parental leave
- Medical care covers gender confirmation surgery
How to Get Hired
We asked New York Life Insurance Company for some inside information on how to get hired at the organization. Here is what they had to say.
What key characteristics tell you a prospective employee will be a great fit for your company?
In prospective employees, we look for professionals possessing a positive attitude and exhibiting a high level of integrity. Ideal candidates will be flexible and adaptable, goal-oriented and driven, and with a strong work ethic. We seek hires who have a desire to do good in and out of work, can contribute well as part of a team in a diverse setting, and have great communication skills. Being proactive, dynamic, and open to thinking outside the box and embracing innovation is key. Prospective employees should be happy to learn new things and look for challenges or stretch assignments, and can see the bigger picture as well as their part within it.
Are there any positions or types of candidates you are particularly focused on hiring in this coming year?
Every year we hire for a variety of positions both within our businesses and in our corporate support areas. Of particular focus for us is continuing to increase diversity across the company, including diversity of thought, approach, ideas, and collaboration. Good hires come from many different backgrounds and experiences. In addition, as a company we are continually looking to innovate and reinvigorate to better meet the needs of our clients – having employees who are change agents is a big part of keeping us moving in the right direction.
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