Merrill Lynch Reviews

Updated July 30, 2015
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Merrill Lynch President & CEO of Bank of America Brian T. Moynihan
Brian T. Moynihan
91 Ratings

Pros
  • Good work life balance & no access to email or systems outside the office (in 50 reviews)

  • Learned a lot more about what being a FA really entails (in 43 reviews)

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

  • Long hours or very early hours can be exhausting specially when you are interning during school semester/quarter (in 37 reviews)

More Pros and Cons

410 Employee Reviews

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  1. Benefit Services Rep

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Merrill Lynch

    Pros

    Access to large accounts, important people in the industry.

    Cons

    Boys club. Getting better but women are still second class citizens.


  2. 401(k) Phone Representative

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - 401k Phone Representative in Pennington, NJ
    Current Employee - 401k Phone Representative in Pennington, NJ

    I have been working at Merrill Lynch full-time (Less than a year)

    Recommends
    Recommends

    Pros

    Good pay for easy job. They sponsor you to get your series 7,63,66 Lots of overtime Awesome Vacation days

    Cons

    Every second of your day is scheduled Job gets very repetitive You have to wait 1 year from your final test date before you can move around in the company


  3. Financial Advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - PMD Financial Advisor
    Current Employee - PMD Financial Advisor

    I have been working at Merrill Lynch

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Provide everything needed to launch a career. There is a lot of material to use for marketing, learning and providing a full service practice.

    Cons

    No leads, you are on your own. Once you get clients the firm keeps 60% of revenue. The goals for a new hire are very hard and have become harder with the switch to fee-based platform where you are paid much less upfront to make goals.

    Advice to Management

    Do not trust anyone in the office if they offer to help. Each advisor has a strategy to use you. Be first in the office and last to leave. Buy a call list, find someone to support seminars.


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  5. PMD Financial Advisor

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

    I have been working at Merrill Lynch full-time

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

    Pros

    Training, Salary, Licensing, Employer Brand...

    Cons

    Salary decreases, difficult to meet goals, high failure rate...

    Advice to Management

    Make the onboarding and hiring process more transparent. Bring new advisors into a branch or team environment to increase their likelihood of success.


  6. Registered Client Associate

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Merrill Lynch

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Great people, decent training program, good management

    Cons

    depending on where you are assigned in the firm, you may end up supporting a tyrant Financial Advisor. The only benefit would be possible upside on the bonus/profit sharing/commission sharing to make it worth it. Generally the base salary is very low so you need to be subsidized by commission sharing.

    Advice to Management

    Need more career growth opportunities for Associate level employees.


  7. Investment Banker

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Professional
    Former Employee - Investment Professional

    I worked at Merrill Lynch

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Very strong brand and broad product suite.

    Cons

    Bureaucratic culture and long hours.


  8. Okay for the money

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

    I have been working at Merrill Lynch

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

    Pros

    There is a lot of opportunity to make more money through overtime

    Cons

    Too much red tape with moving into different areas of the company.


  9. Financial Advisor

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

    I worked at Merrill Lynch

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    unlimited resources once you have a client and if you manage a large amount of money... over 80M

    Cons

    Little to no real life training on how to obtain new clients. Sink or Swim Mentality

    Advice to Management

    take the time to help direct your new Financial Advisors, if someone has strengths and needs teaming you should help them find the team that could use someone with their particular skill set. No need to waste all the money training someone just to drop them at a future date. you can probably transition people from the FA position to another role and save time and money training some other individual.


  10. First Vice President

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in New Haven, CT
    Current Employee - Financial Advisor in New Haven, CT

    I have been working at Merrill Lynch full-time

    Recommends
    Neutral Outlook
    Disapproves of CEO
    Recommends
    Neutral Outlook
    Disapproves of CEO

    Pros

    Great investment research, decent technology tools

    Cons

    Rigid beurocratic decision making culture

    Advice to Management

    Have more flexibility when reasonable, valid business approaches can be taken to win new business, don't turn the business away just because it does not fit perfectly into your cookie cutter, uniform policy. Grant a bigger pay out to your Financial Advisors


  11. Financial Advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in East Brunswick, NJ
    Former Employee - Financial Advisor in East Brunswick, NJ

    I worked at Merrill Lynch full-time (More than 5 years)

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    Work independently while building your business. Wide array of products and services available to offer to prospective and future clients

    Cons

    When it comes down to it regardless of what is said about distrusted advisor, you will be judged solely on your production

    Advice to Management

    Managementshould try to take a closer look at the big picture as to the quality of business a financial adviser brings and not just the quantity.



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