Merrill Lynch Reviews

Updated August 13, 2015
417 reviews filtered by
  • Any Location
  • Any Job Title
  • Any Status
Employment Status

Reset
3.0
Rating Trends
Recommend to a friend
Approve of CEO
Merrill Lynch President & CEO of Bank of America Brian T. Moynihan
Brian T. Moynihan
97 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

417 Employee Reviews

Sort: Popular Rating Date
  1. Financial Advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Vienna, VA
    Former Employee - Financial Advisor in Vienna, VA
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Good technology and brand. Training program for new advisors is good.

    Cons

    Unless you are a top producer don't expect much attention


  2. Helpful (1)

    All dependant on office manager and team/individual plan

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Merrill Lynch full-time

    Pros

    They allow you to be independent with your business. YOu are able to meet clients any time in or out of the office, and they typically do not hold many mandatory office meetings that would take away from productivity.

    Cons

    The takeover or "merger" with Bank of Americaa changed the entire culture. The FDIC and bank/avisory firm relationship clashing forced many seasoned veterans and quality individuals to leave. The incentives for additional compensation became focused on intertwining clients investments with their banking relationship at BAC. This was not always in the best interest of the client, as Bank of America is disliked more than most financial institutions (in my opionion).

    Advice to Management

    Promote team environments, but ensure that the agreements with younger PMD's is not one in which they are treated like sweat shop employees with no opportunity to gain additional compensation or partnership. I understand earning your stripes, but making sure that young talent truly sees the long term potential is crucial.


  3. Intern

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Merrill Lynch part-time

    Pros

    A lot of freedom, the FAs are very helpful and open to answering any questions, got to see a lot of the day to day tasks of what goes on.

    Cons

    A lot of cold calling


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Private Wealth Management Intern

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

    Pros

    Great team members, overall positive experience. Tough interview process but definitely worth it.

    Cons

    Company as a whole did not focus on individuals and the company culture was not really noticeable. Money hungry industry so be prepared for that.

    Advice to Management

    Focus more on individual employees and relationships with clients.


  6. Good place to start career

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Banking Analyst in New York, NY
    Former Employee - Investment Banking Analyst in New York, NY
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Merrill Lynch full-time (More than a year)

    Pros

    Good learning opportunities. Experienced senior bankers. Big deals to evolve with.

    Cons

    Bureaucracy. Groups differ a great deal from each other.

    Advice to Management

    Change the culture of certain groups.


  7. Great Opportunity Small Chance for Success

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - PMD Financial Advisor
    Former Employee - PMD Financial Advisor
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Fantastic training program. Tremendous flexibility in your daily work-routine. Expectations and goals are clearly communicated. Meet them and you'll 'survive'. Fail to meet them and you'll be fired.

    Cons

    Product knowledge and ability to establish strong relationships with clients is trumped by your production. Production goals can be a challenge depending on the location and existing personal/professional contacts. Don't expect a free-ride in this 'non-team' environment. There is limited incentive for senior FAs to team with new FAs; however, senior FAs do benefit from new FA failures as the new FA's clients will be re-distributed across the firm.

    Advice to Management

    Resolve the issue of new FA attrition by implementing a Team Financial Adviser (TFA) program that actually works for both the new FA and the existing team. The current TFA program is a step in the right direction but still fails to address attrition for many reasons ranging from not understanding how a team functions to simple greed of more production & compensation.


  8. Helpful (2)

    Financial Advisor

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


  9. 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
    Recommends

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

    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


  10. Benefit Services Rep

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

    Pros

    Access to large accounts, important people in the industry.

    Cons

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


  11. PMD Financial Advisor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Merrill Lynch full-time

    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.



Showing 417 of 1,491 reviews
Reset Filters
RSS Feed </> Embed

Your response will be removed from the review – this cannot be undone.