Gloria Mayfield Banks is Retiring from Mary Kay

It’s true! Gloria Mayfield Banks is retiring. She turns 65 years old in September 2021, so she will be retiring on January 1, 2022. GMB confirmed her upcoming retirement with this promotion:

Upon retiring, Gloria will receive 60% of her “final average commissions.” They take the best 3 of her last 5 years of commissions and average them, and then multiply that by 60% and pay it out each year. Last seminar year, Gloria’s commissions were $843,930. So she’s looking at about $500,000 a year in “retirement” funds paid out for 15 years. Quite the payout for swindling thousands of women over the last three decades. (She’s been in MK since 1988!)  As of 2016 her lifetime commissions from Mk totaled more than $11 million.

Also, promotions like this are so sneaky. What a great way to increase orders, to increase the commission, to increase the retirement payout.

49 Comments

  1. Char

    Does anyone know where the payments come from? Is it a separate retirement account already secured with invested funds from Mary Kay? Or do they pay out of the working account? What if MK goes out of business?

    Reiterating Tracy’s point, this is not an admirable achievement in any way, shape, or form. Do not be confused and aspire to be this woman, as GMB swindled thousands of women to get where she is.

    She is nothing more than a successful con artist working with an endless-chain recruiting product-based pyramid scheme.

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      1. Shay

        i am so confused here. I have been telling people for years since reading this blog that there is no retirement in MK and pointed to stories how women put in years of hard work and got nothing.
        how is GMB able to get this and others don’t?
        how many other are getting this money after retirement?
        what are the requirements to get this?

        1. TRACY

          NSDs are the only ones who have “retirement.” They call it the family security program and it’s a 15 year payout. But remember that almost no one gets to NSD, so your statement hat there is no retirement is mostly correct.

  2. Kristen

    So I’ve heard people say that you have to get into an MLM early, at the beginning, to make good money. If GMB joined in 1988, that is twenty five years after MK began. Surely this can’t mean that if you hang on long enough and wait for women to retire, a spot will open up at the top of the pyramid? I’m not totally familiar with the way a pyramid scam works, as I was painfully at the base! 😝 How exactly did she do so well? If I was a newbie, I would be looking at this and thinking, “by God, yes! It can be done even if you come in late.” Is there a point when it’s “too late”?

    1. BestDecision

      A little intimidation, a lot of bragging, and a ton of showmanship is how she did it. Her smiles are fake, and she’s over the top. I’ve sat in her classes at Leadership and elsewhere, and it’s all about recruiting. If you’ve seen her performance, you know what I mean—over the top. Her intro is tacky and has made people cringe.

      As for their payout, we were never told what account it comes out of, but MK Inc pays it. If they close, I’d bet the payments stop, which is what we all “banked on” (if you know, you know). She’s a rarity in MK, even among Nationals, and she’s what everyone aspires to duplicate.

      1. pinkblacksheep

        I remember a training by one of her directors telling consultants to have at least 20 Timewise sets at all times. Her area also seems to have more than the usual pressure to appear successful.

    2. Char

      “So I’ve heard people say that you have to get into an MLM early, at the beginning, to make good money….”, is indeed something that is repeated often. So, I don’t blame you for thinking it.

      But, this is a misleading talking point and something I’m constantly writing about. It isn’t how early you get “in”, it’s how many people you are prepared to lie to, to con.

      Understand, “success” in MLM is NEVER a good thing. It means you’ve conned enough people to profit yourself. MLM is selling the “opportunity” to sell the opportunity, and that is illegal. The product merely serves as a cover to appear legal.

      Scammer talking points have been repeated so many times that people accept it as truth! Even if those points are seemingly bad, such as “99% lose money”. That merely suggests lousy odds, that someone can overcome the odds, but that’s not the whole story. The key is understanding that the 1% make the money via scamming the other 99%. It changes the whole conversation!

      “Is there a point when it’s “too late”?” — In a straight up Ponzi, the last ones in lose BUT THAT’S NOT WHAT MATTERS. If you join a Ponzi, that makes you a Ponzi participant. A bank robber who doesn’t leave the bank with money is still a bank robber.

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    3. Lazy Gardens

      Mary Kay was a party to it … they were running out of white women to exploit and along came this graduate of a business school who was greedy. She helped them exploit her own community – African-American women – relentlessly and without a thought to what it would do to them.

      Look up “Affinity Fraud” and it’s there.

      Also, her success is partly an illusion. She married a contractor whose company bids on multi-million dollar projects. And she gives the impression that the vacations, the house and the lifestyle is ALL from Mary Kay. That lures in the recruits.

      I saw her in Phoenix and she reminded me of Urkel from TV. Very fake, exaggerated speaker. The adulation was grotesque. I was quietly dispensing Pink Truth business cards in various places while she and one of her minions were in the same ladies lounge. OH MY! Pity I didn’t have a smart phone back then, because they thought they were alone.

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    4. TRACY

      When she retires, a spot doesn’t open up. Everyone in her area has no NSD, and MK Inc. keeps the money they would have paid to Gloria.

      Getting into an MLM early increases your chances of “success” mainly because the market isn’t yet saturated. GMB did well because of her longevity, because of her personality that many in MK are drawn to (it’s a total turnoff to me, but then again I run a real business and work with real executives), and because over time there were just so many thousands of women under her in the pyramid.

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      1. Ruby Slippers

        Tracy, I would be interested to see a list of her current Directors and do an article a year after here retirement to see how many step down . I’ve noticed that once a National or Top Director “retires” and the guilt and the feeling of owing them something goes away then people step down or quit . Have you noticed this also ??

      2. morningstar

        Working with real executives is refreshing experience. The thinking roundtables promote and being able to present and discuss topics is none other. Thanks for the reminder.

        This includes others’ challenging your ideas, and they accept and respect your concepts regardless of the outcome.

        (In the idealized situation).

  3. MultiLevelMoneyLosing

    I attended a Mary Kay recruiting event (a “sales meeting”) in the DC area about 10 years ago. Gloria Mayfield Banks was the presenter and it was an insane, cult-like experience. There were women in the front wearing heavy makeup and ugly gray suits having a religious experience.
    She was extremely complementary of herself and the message was that you could follow in her footsteps, travel the world, OR be a broke lazy loser.

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    1. BestDecision

      Unless her Sr NSD is still active, MK Inc will absorb them. No more commissions to be paid out on any of them, and they’ll be part of the “Go Give National Area”. Benefits MK completely!

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        1. BestDecision

          It means to give freely without expecting anything in return. Shouldn’t Seminar be free? Giving to their sales force and not expecting anything in return??

          They make so much money off people. It’s nauseating that I fell for it.

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    2. Lazy Gardens

      Some of her downline are also NSDs … she got a bonus for every NSD she spawned, no matter if they did well or not, so she was busily helping them boost her up the ladder.

      they stay NSDs … her non-NSD downline will be cut loose and join the GoGive Area.

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  4. NayMKWay

    “Commemorate Gloria’s last full Seminar year by earning charms for your exclusive, custom designed, Masterpiece Moments Charm Bracelet!”

    Excuse me while I go throw up. JFC, GMB, don’t you have enough? I don’t know which is worse, the conniving to bump up her retirement income, or the self-aggrandizement. “Hey, everyone! Buy more crap so you can get trinkets that remind you that you once knew ME!!!”

    I say again: barf.

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  5. EyesWideShutNoMore

    Wasn’t she also saying she was dyslexic and overcame that? I don’t know if there is any truth to it, but she would use that as an “if I can do it with DYSLEXIA, then you have NO excuse not to order your $1200 inventory package.”

    I did used to laugh when I’d see pics of her posting how she was flying Southwest thinking if she had so much damn money, why isn’t she flying in more VIP style? I love Southwest myself, but that’s because they’re cheap and cheerful lol.

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    1. NayMKWay

      Some of the brightest people I’ve had the pleasure to work with have dyslexia, and none of them bring it up as though it were some major obstacle they had to overcome. If it came up in conversation, it would be something like, “Yeah, I have trouble with forward- and back-slashes, d’s and b’s, that sort of thing. It can be kind of a pain sometimes,” and that’d be it.

      And here comes GMB, making it such a grand thing that she overcame DYSLEXIA!!!

      I’m repeating myself, here, but…barf.

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  6. Heather

    All I can say about this is about time! At one point, I thought she was something. Business school graduate, energetic like she’s been snorting coffee grounds… yep, as a newbie, I was in awe.

    Then I began to see the proverbial light. She was as fake as you could get. She recorded her affirmations (and I still think affirmation stuff is just odd) with the highest levels of enthusiasm and played them back to HERSELF. There was nothing genuine when you saw her in person at an event. Farewell, GMB. Enjoy the fruits of your scams and hustles. You will not be missed.

  7. morningstar

    YA ALL get to work, to pay her benefits. 1200.00 will do it each month.

    I wonder what happens when MK goes under, is this underwritten? Or Poof!

    Anyhow, she planned this from the 1990’s and it worked. I would love to see her big hair pictures. LOL

    1. morningstar

      I see the annuity topic ; still wondering if bankruptcy would tangle an annuity up, regarding payout.

      Likely investing in clinique, lancome, etc and BBQ (by the look of sons waistband expansion)

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  8. Neverpink

    Well this is absolutely disgusting and horrifically narcissistic.

    “Get this cheap charm bracelet so that people will know you knew/knew of ME!” when this woman isn’t anybody outside of MKLand.

  9. Peggy Hicks

    GMB & other NSD’s who retire from MK need to invest as much of their retirement income as they can. People are living longer nowadays & the MK annuity payments stop at age 80. What are they going to live on if they live past 80? Just sayin’ !!

  10. Dique Cannon-Finley

    Stop hating on GMB…you don’t comment when white men get their glorious parachutes in the $$$$$ millions when they retire or get kicked out before years of service 🙄

    1. Lazy Gardens

      If they were retiring as NSDs, we would.

      Gloria is an egregious example of “affinity fraud”, acts as if her lifestyle is due to Mary Kay and not her husband’s large and successful contracting business, and her business MBA means she knows EXACTLY how the scam is run. She is knowingly fleecing the Black community for her own aggrandizement and enrichment. That is EVIL.

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