Merrill Lynch

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Merrill Lynch Reviews

Updated Jul 27, 2014
All Employees Current Employees Only

3.5 1,115 reviews

74% Approve of the CEO

Merrill Lynch President & CEO of Bank of America Brian T. Moynihan

Brian T. Moynihan

(296 ratings)

70% of employees recommend this company to a friend

Review Highlights

Pros
  • Decent work/life balance(based on your work area) Good (not great) benefits (in 42 reviews)

  • learned a lot about client management in a high assets environment (in 36 reviews)


Cons
  • The work-life balance is definitely a con (in 22 reviews)

  • long hours work life balance leaves only work work can be boring sometimes and can be too overwhelming sometimes (in 32 reviews)

More Highlights
335 Employee Reviews Back to all reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

     

    Private wealth intern

    PRIVATE WEALTH INTERN (Former Employee) Kansas City, MO

    ProsGood learning exp for someone still in school and is looking to explore financial services industry

    Consno pay for this particular internship. Even transportation wasnt reimbursed

    Advice to Senior ManagementBe more generous to your interns!

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Make sure you have a book of business or have a team that will give you accounts

    Financial Advisor (Current Employee) New York, NY

    ProsGreat brand.....For the most part management leaves you alone if your performing.

    ConsUnless you have a huge book you wont make any money.

    Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    The best training and atmosphere to prepare for taking your series tests.

    PMD Financial Advisor (Current Employee) Mesa, AZ

    ProsTraining, Introduction into the industry, FA mentors

    ConsTiers are not easy to hit. Success at ML requires personal high net worth connections, previous bank transaction lead connections. Must be able to find many leads with a net worth greater than 250K ML will give you trouble approving accounts for less than 100K. Your hard earned leads will be pushed to Merrill Edge.

    Advice to Senior ManagementMore oversight after the series tests have been passed on helping PMDs get legitimate leads.

    No, I would not recommend this company to a friend

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities

     

    Experience working at Merrill Lynch has been rewarding.

    Registered Private Wealth Associate (Former Employee) Newport Beach, CA

    ProsWorking alongside other Registered Associates has been very rewarding, bouncing best practice ideas back and forth, and just working together in general. Associates are very professional and are always willing to assist.

    ConsSome of the advisors may be difficult to work with but management takes the frustration away most of the times. One needs to build a tough skin to deal with some of the advisor personalities.

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Merrill Lynch Intern

    Anonymous Employee (Current Employee)

    Prosgreat place to start a career in finance

    ConsCan be a challenge if just out of college.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

     

    Looking forward to interview

    Anonymous Employee (Current Employee)

    ProsWent through staffing agency took tests.

    ConsLooking for more information on job description and working environment.

    • Culture & Values
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    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Merrill Lynch - Traditional Wire house

    Financial Advisor (Former Employee) New York, NY

    ProsPros: Brand recognition, nice offices, a good amount of marketing provided. If you can get in, it makes it easier for you to go to another firm once they see Merrill Lynch on your resume. This also goes for Chase, Wells Fargo, and Morgan Stan.

    ConsCons: Same exact products, services, and business models as every other large wire house. You start off, get licensed, get a cubicle, and then the hurdles come at you. From my personal experience there were quite a bit of politics and employees were treated differently across the board with goals and exceptions. 1/10 Advisors makes it past the first year, 1/10 2nd, and less the 1/10 the 3rd. Clients may receive more attention at a smaller firm.

    Advice to Senior ManagementPlease try to redefine the new advisor model. With the aging advisor base within your organization you are going to have a HUGE client attrition rate in the next decade.

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
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    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Harder than ever to "stick to the wall" as a rookie financial advisor if you weren't a rich kid ...

    Financial Advisor (Former Employee)

    ProsMerrill was not my first brokerage firm position, but some of the Pros I would list include (1) good name recognition, (2) great training, (3) great technology, and ... if you can survive the first 3 years and put in the time ... (4) unlimited upside on what you can earn from fees and commissions after your training salary ends, depending on how much time you put in. Overall, if you are passionate about being a financial advisor, Merrill is good place to start ... but IF you survive ... I'd develop personal relationships with your clients, and eventually move on to a smaller firm for better payout % ... less red tape ... and micro-management.

    ConsCons for Merrill Lynch are similar to cons of most major wirehouse/brokerage firms, even though most of the big ones are now owned by banks, because they have largely retained their old culture and business practices. Cons of the big wirehouse firms are (1) high failure rate for rookie financial advisors, (2) long hours the first 3-4 years you are getting established, (3) not a great place if you prefer a steady paycheck because market crashes (caused by your OWN firm) can cut your pay 50% or more, and (4) massive red tape and "big brother" culture due to crushing number of rules & regulations that make doing business difficult for "good apples" and are often skirted by "bad apples" whom the rules are designed to protect clients from. Its hard to leave Merrill, they aggressively solicit your former clients not to follow you to a new firm, they consider every client you recruit the "property" of Merrill Lynch ... even your own family.

    Advice to Senior ManagementEveryone in management person at corporate HQ level should come out of the Ivory Tower and visit a few Merrill branches every year, have an open "town hall meeting" Q & A and allow FA's to ask any question, and have a few 1 on 1 private meetings with a cross section of FAs in the office. Some of you used to be brokers and branch bank managers, you forget how much harder all the red tape and regulations have made life for the front line advisors ... who must survive by eating what they kill ... i.e., recruiting their own clients.

    Also, stop sticking rookies in a cubicle with a phone book and saying "go get em Tiger". New FAs should be recruited in teams ... where they have mentors to learn from instead of reinventing the wheel, and washing out and seeing their books divided up by their former colleagues.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    It was alright, I guess.

    New Account Specialist (Former Employee) New York, NY

    ProsGood tapas bar. Petting zoo seemed a little odd, but who am I to judge. Not enough Christian values for my tastes.

    ConsPromotions based on gladiatorial combat. In-office arena could stand to be remodeled. Hard to attract top-flight talent with outdated facilities

    Advice to Senior ManagementMove karaoke hour back to 2pm to give everyone time to digest lunch. Hard to belt out Total Eclipse of the Heart with the suitable level of emotion the song deserves in between belching.

    Yes, I would recommend this company to a friend

     

    alright

    Anonymous Employee (Current Employee)

    Prosgood if you are in team

    Conshard to sell and get new client

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