Merrill Lynch

  www.baml.com
  www.baml.com

Merrill Lynch Reviews

Updated November 14, 2014
Updated November 14, 2014
1,213 Reviews
3.6
1,213 Reviews
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Merrill Lynch President & CEO of Bank of America Brian T. Moynihan
Brian T. Moynihan
339 Ratings

Review Highlights

Pros
  • Decent work/life balance(based on your work area) Good (not great) benefits (in 50 reviews)

  • Learned a lot about wealth management, especially through the online courses (in 42 reviews)


Cons
  • The work-life balance is definitely a con (in 23 reviews)

  • You are expected to work long hours with no overtime pay or additional compensation (in 37 reviews)

More Highlights

155 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    PMD PROGRAM

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - PMD Financial Advisor in Dallas, TX
    Former Employee - PMD Financial Advisor in Dallas, TX

    I worked at Merrill Lynch full-time (more than an year)

    Pros

    Base pay is good and reliable. Reasonable training in sales and marketing skills.

    Cons

    Very poor training in product knowledge. You are encouraged to join partnership because when you leave all accounts go to your partner. 80% plus failure rate to make commission goals. You have to sell mutual funds or other commission products or you cant make monthly goal. Many times not in the best intrest of clients. You are on your own very little admin support. Reputation is way overrated. Same products as anywhere else.

  2.  

    Long and Hard work

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Merrill Lynch

    Pros

    Can make a lot of money

    Cons

    Feel like a car salesman

  3. 2 people found this helpful  

    High employee turnover for a reason

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Client Associate
    Current Employee - Registered Client Associate

    I have been working at Merrill Lynch full-time

    Pros

    Pay is okay. You stand a good chance of making decent money if you work on a team with high revenues. In general, many people in the company have great personalities, which can make coming to work a little better. Great tech support.

    Cons

    It doesn't take long to see why the office has extremely high employee turnover rates. After only three months of working at Merrill Lynch, I felt like I had worked my entire life in a tedious dead-end position with no opportunity for advancement. Low-level managers are inept at handling anything before it becomes a pressing issue, and constantly display their lack of concern for employee development or support. CAs and administrative roles are expected to immediately handle the fast-paced work environment without any training. Top-down communication is terrible. All too often, employees are not aware of policy or process changes until they spend hours on the phone trying to fix an issue. On the bright side, though quite a few FAs can be self-righteous scrooges, you can wallow in the misery of your position with fellow lesser-paid, friendly colleagues.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5.  

    Unorganized Internship

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Intern in El Segundo, CA
    Former Employee - Intern in El Segundo, CA

    I worked at Merrill Lynch as an intern (less than an year)

    Pros

    Staff was nice
    Free food a lot
    Interesting to see a large corporation function
    Dealt with very successful individuals who had a lot of experience in the field

    Cons

    Just merged with BofA so security was getting ramped up and the employees were not happy
    Had to pay for summer school because it had to be for school credit

    Advice to ManagementAdvice

    Do a little planning before you acquire interns
    Try to make it a learning experience

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Good learning opportunity

    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Merrill Lynch as an intern (less than an year)

    Pros

    Industry exposure gives people an opportunity to work with experienced and intelligent individuals.

    Cons

    Some company policies and the stigma left over from the financial crisis

    Advice to ManagementAdvice

    It would have been nice to have a more structured internship program for those who are interested in the industry and ultimately in developing a career at this firm.

    Recommends
    No opinion of CEO
  7. 1 person found this helpful  

    Not the same

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Vice President in Hopewell, NJ
    Former Employee - Senior Vice President in Hopewell, NJ

    I worked at Merrill Lynch full-time (more than 10 years)

    Pros

    The few people left from ML after BAC takeover are still good.

    Cons

    Bank of America takeover- downhill from there.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Culture went downhill

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst in New York, NY
    Former Employee - Analyst in New York, NY

    I worked at Merrill Lynch full-time (more than 10 years)

    Pros

    Firm has a lot of credibility in the advisor space, which affords a lot of respect for employees from the outside.

    Cons

    Bank culture changed the firm. Used to have a great entrepreneurial culture but no more.

    Recommends
    Neutral Outlook
    No opinion of CEO
  9. 2 people found this helpful  

    PMD Program - Wealth Management -- Not for every one

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Merrill Lynch

    Pros

    Its a legitimate business with valuable services to customers.

    Cons

    All the negative reviews are accurate. Its also odd and uncomfortable to have to turn to friends and family for their "business". Especially if you can can concede that you are new to the career/job, etc. I don't like the idea of being a b.s. sales man.

    Advice to ManagementAdvice

    Pair up new hires with teams/mentors, without high expectations for at least the first year. Although I realize ML is a business, and this wouldn't suit their short-term financial gains.

  10. 1 person found this helpful  

    EXPLOITATIVE TREATMENT OF EMPLOYEES

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Seasonal Sales Associate in New York, NY
    Former Employee - Seasonal Sales Associate in New York, NY

    I worked at Merrill Lynch as an intern (less than an year)

    Pros

    Great exposure to products and networking with industry insiders

    Cons

    No clear path or guidance for advancement

    Doesn't Recommend
    Approves of CEO
  11. 4 people found this helpful  

    PMD Financial Advisor

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor in Winston-Salem, NC
    Former Employee - Financial Advisor in Winston-Salem, NC

    I worked at Merrill Lynch full-time (more than an year)

    Pros

    Licensing process for Series 7 & 66 organized and easy to follow. Their on-line company for the test was adequate to pass both exams. New programs like the BFA and TSA may help PMD's if the programs are truly designed to help a PMD graduate. You will meet a few very nice experienced Financial Advisors and their CA's that will give advise to assist you. Merrill Lynch does give direction that the client needs are the most important which is good.

    Cons

    Odds of graduating from the PMD program after 3 years is less than 10%. Every once and a while you will see how many totally in the program and then get an email about how many have graduated. Not a good number. Most of the graduates in the PMD program came into the firm to work for their father/mother/brother/sister. They also include transfers from other firms that are in the program for 1 year. You learn quickly if you are not in one of those 2 groups your odds are very low and you are being used to bring in accounts of over $250,000 that will be distributed to existing FA when you fail. Good luck.

    Advice to ManagementAdvice

    A lot of the existing Financial Advisors know the odds that you will not be there long so they are not the warmest group. Some can be downright nasty and condescending which is very disparaging; they are usually the ones that walk around with their noses in the air. This can make the environment for the PMD very tough to handle.

    Negative Outlook
    No opinion of CEO

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