New York Life Plans to Hire More Than 3,700 Reps in 2012 [Professional Services Close – Up]

New York Life said that the company seeks to hire 3,700 financial professionals in 2012, after a successful recruiting effort in 2011 when more than 3,600 new agents were hired.

"New York Life has seen unprecedented growth in our field force each year for the past six years. This tremendous growth tells our story: Jobseekers who are seeking a meaningful career with the support, training, and skill-building of a strong and successful Fortune 100 company find it with New York Life. The story is even stronger when you look at the recruiting classes of the past few years. Each new recruiting class has proven more successful than the last, breaking records in terms of sales for new hires," said Rich Simonetti, vice president in charge of field recruiting at New York Life.

"We are proud to offer a career that provides flexibility and significant earnings potential. It also provides families and businesses with financial protection and offers growth and advancement. A recent survey reveals that 43 percent of Americans report they do not expect career growth or advancement in 2012.* New York Life is pleased to offer a career that allows an individual to grow and advance - whether that means expanding their practice or moving into a management position."

According to the Company, for New York Life Partner Erica Takach of Chicago, a lack of advancement opportunities as an executive at a large retailer compelled her to look for a better job elsewhere. Realizing that she could have the career she wanted as an insurance agent, she joined New York Life in 2006. Within six months she achieved membership in the company's Executive Council, among the company's most successful agents, and in two years she moved into management at the Chicago North Shore General Office.

"When I joined the company, I loved that they had a clear path for advancement. As long as I met the defined goals, I could keep moving up. I knew that this was the company for me," said Takach. "I know firsthand that New York Life gives women jobseekers the opportunity to build their own business, and find work/life balance by setting their own hours, while having the backing of this amazingly strong financial institution."

"The demand for financial professionals is strong. In fact, according to a recent survey, 14 percent of Americans report they plan to seek professional help managing their finances in 2012," said Simonetti. "We are proud that we continue to be an active employer in communities across the country to meet this need. The company is committed to growing its agent force, more than 12,250 strong, who represent a key market differentiator among life insurers and one that has kept New York Life an industry leader in good times and bad."

New York Life said that it actively seeks to hire women and individuals who serve ethnic markets. In 2011, 57 percent of the company's hires in the field were women or individuals who represent the cultural markets. An additional recruitment focus for 2012 is men and women transitioning to the workforce from the military. Also, Eagle Strategies, the Registered Investment Advisory and subsidiary of New York Life, plans a 50 percent increase in the number of advisors in the network by 2015, or 500 new advisors, to a total of 1,500.

"One of New York Life's attributes that attracts recruits is its top ratings from the major rating agencies. New York Life is proud to hold the highest ratings currently awarded to any life insurer," said Simonetti.

On January 25, Fitch Ratings affirmed its AAA (exceptionally strong) financial strength ratings on New York Life.

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