Merrill Lynch – Why Work For Us?

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Merrill Lynch – A Global Leader


Merrill Lynch is one of the world’s premier providers of wealth management, securities trading and sales, corporate finance and investment banking services.

Working with our clients as strategic partners, we create and execute winning solutions, which address our clients’ most pressing strategic, financial and investment needs—anywhere in the world.

We stand apart by building and maintaining solid partnerships with clients. Merrill Lynch places our client relationships first and is proud to conduct our business based on five unwavering principles: Client Focus, Respect for the Individual, Teamwork, Responsible Citizenship, and Integrity.

Trusted Advisors

The world’s leading corporations, financial institutions and governments, as well as the top mutual funds, hedge funds, pensions and endowments, trust Merrill Lynch to help them solve problems and capitalize on opportunities.

Global Partners

More than 60,000 professionals in 40 countries combine local market expertise with Merrill Lynch’s substantial global product resources, technology and capital.

Culture of Innovation

For decades, we have pushed beyond the status quo to design new securities and improve existing structures; create sophisticated analytics and trading systems; structure landmark transactions; and help clients find the right strategies to improve performance.

Superior Execution

Leadership positions in our chosen markets enable us to anticipate market trends, see opportunities as they develop and execute cleanly.

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At Merrill Lynch, you design your own future. We’ll support you and your goals along the way. We seek motivated individuals with a passion to learn, lead and succeed. No matter what the role, our team members are driven, resourceful and accountable. Working alongside the best in the business, the opportunities are limitless. A world-class company with world-class employees, you can be proud of a career with Merrill Lynch. If you choose to work for us, we’re confident we’ll work for you.

Merrill Lynch Global Wealth and Retirement Solutions delivers high quality investment advice and product capabilities to external clients and internal businesses. Investment solutions include equity, debt and structured products, and alternative investments and deliver due diligence and cohesive investment management solutions for client portfolios. This group within Merrill Lynch also provides administration, recordkeeping, custodial, communications, consulting and execution services to approximately 40,000 workplace-based benefit plans.

Merrill Lynch Wealth Management provides clients with a personalized financial review, hands-on advice and guidance through a network of approximately 15,000 Financial Advisors throughout the world. Clients with a personal wealth profile of at least $250,000 of investable assets can meet with a highly trained Merrill Lynch Financial Advisor who is committed to understanding their needs and supported by the broad resources of Merrill Lynch.


If your current career isn't taking you where you want to go, Merrill Lynch offers you the opportunity to change lives, starting with your own.
 
In September 2013, Merrill Lynch's Practice Management Development program won a gold medal for Best Onboarding Program in the 2013 Brandon Hall Group Excellence in Sales and Marketing Awards. The Brandon Hall Group Excellence Awards Program covers functional areas that are responsible for driving performance within an organization.
 

"The Practice Management Development (PMD) program at Merrill Lynch is a brilliantly conceived and executed development program that marries the expertise of industry-leading professionals with internal specialists to satisfy all facets of a program participant's development. The PMD program really stands out among sales onboarding programs for its design, its efficiency and its stellar results for both program participants and the company." -- Rachel Cooke, COO of Brandon Hall Group and head of the Brandon Hall Group Excellence Awards

The Qualities

Merrill Lynch is looking for the entrepreneurial and resourceful high achiever. If you have these qualities, we have a new career path for you.

The Program

Merrill Lynch's Practice Management Development (PMD) program will help you supplement the critical skills you already have with the knowledge necessary to become a successful Financial Advisor. This is widely acknowledged as one of the best three-year training programs in the industry.

A Merrill Lynch Financial Advisor is customer-driven as well as entrepreneurial. Here you will help your clients change their lives. Backed by the leadership, support and one of the broadest platforms of products and services in the business.

Our goal is to transfer your previous successes into a career that will leverage your achievements in the Practice Management Development (PMD) program.

Using what we believe is one of the better three-year training programs in the industry, Merrill Lynch works to help you become a Financial Advisor.

Comprehensive & Proven Curriculum

A tailored curriculum is designed to help you develop the critical skills and knowledge necessary for acquiring clients, enhancing relationships, offering tailored solutions and building a successful wealth management practice. We provide you with the tools, relevant training and in-depth support you need to build a successful practice based on a strong foundation of wealth management skills. We assist you in developing the industry credentials that help distinguish you and your practice by preparing you for the Series 7 and Series 66 exams. And while you earn your registrations and build your business, our program offers a competitive base salary. In addition, you could have access to Bank of America bank center resources to help build your practice.

Coaching & Mentoring

Coaches in local offices or complexes assist you in launching your career through business plan reviews, face-to-face meetings, team meetings and client meetings. Program participants are often teamed with senior financial advisors in their local offices to receive 1-on-1 mentoring and coaching.

Meaningful Recognition

Top performers are invited to attend Practice Management Development (PMD) Excellence Programs, which are conducted at divisional classroom training sites. They are then offered an additional two years of advanced training designed to develop exceptional advisory skills across various wealth management areas to help serve affluent clients.


Our commitment 

At Bank of America, we realize the power of our people and value our differences — in thought, style, sexual orientation, gender identity, culture, ethnicity and experience — recognizing that our diversity makes us a stronger company. Diversity and inclusion are central to our company's values, and we are proud to be widely recognized for our progressive workplace practices and initiatives that promote inclusion.

Life is better when we are connected to our employees

Every day, we are focused on delivering on the promise of being a great place for people to work. We actively promote an inclusive environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business.

At Bank of America, we’re committed to attracting, recruiting and retaining top diverse talent from across the globe. We are focused every day on delivering on the promise of being a great place for people to work by creating an environment where all employees feel they have the opportunity to achieve their goals. We value our differences—in thought, style, culture, ethnicity and experience—understanding that diversity and inclusion are good for business and make our company stronger. Bank of America is proud to be a leader in supporting diversity and has been widely recognized for our progressive workplace practices and initiatives that promote inclusion.

We partner with a variety of organizations to find the best talent for our company and support and participate in recruiting events coordinated by many of our external partners.

Our campus recruiting team visits colleges and universities across the globe to secure talent for our internship and associate programs. Our military and veteran recruiting team partners with a variety of organizations and attends job fairs to find talented military service members, military spouses and veterans to join our company. Additionally, our Diversity Executive Recruiting team actively identifies prospective executives and connects talent to leaders within Bank of America.

Here, you'll work for a company recognized for creating industry-leading technology, products and services. Our leaders serve on numerous local and national boards and regularly receive top industry honors, including recognition in US Banker, Forbes, Working Mother and Diversity Inc. and others. You'll have opportunities to achieve your goals.

Workforce Data

We strive to develop a workforce that reflects the communities where we live and work. Encouraging a diverse, inclusive workplace gives us the business advantage of understanding and meeting the needs of diverse customers, clients and communities. Globally, approximately 56 percent of our workforce is female.

Life is better when we are connected as a company

At Bank of America, diversity is core to who we are and how we operate — it’s part of our DNA. Our Employee Networks are perfect examples of how we grow stronger through our commitment to diversity and inclusion.

Bank of America’s Employee Networks are bank-supported groups made up of employees who share a common dimension of diversity, along with others who support them. Our Employee Networks form around race, ethnicity, gender, sexual orientation, disability, age, parental status and veteran status. In 2012, through Employee Networks around the world, more than 60,000 employees connected and participated in networking opportunities, mentoring programs, information forums and various volunteer events. Many members also served in leadership roles and led initiatives for recruiting, client development and community partnerships.

Employee Network Chapters

Asian Leadership Network

Black Professional Group

Disability Employee Group

Hispanic/Latino Organization for Leadership and Advancement

Inter-Generational Employee Network

Leadership, Education, Advocacy and Development for Women

Lesbian, Gay, Bisexual and Transgender Pride Resource Group

Military Support Group

Multicultural Leadership Network (Europe and Emerging Markets)

Native American Professional Network

Parents and Caregivers Network

Young Professionals Network (Asia Pacific)

Our commitment to diversity and inclusion and to our Employee Networks is making interactions easier for employees who work at different locations and in different lines of business — creating an environment where success is shared at the bank and in the communities we serve.

There is a tremendous range of possible activities, partnerships and opportunities, for the leadership and members of the Employee Networks to show great creativity and resourcefulness in developing new programs.

Each year, every Employee Network chooses an organization to partner with on a national level. The organization is one whose mission aligns with the specific network and that can offer volunteer opportunities on both the national and local level. The organization receives a grant from the bank but, more importantly, it benefits from the expertise, energy and dedication of volunteers from the networks.  Learn more about a few of our Employee Networks;

Black Professional Group and National CARES Mentoring Movement – employees helping communities

The partnership between the Black Professional Group (BPG) and the National CARES Mentoring Movement, which began in 2011, is a perfect example of how the Employee Network Grant Program impacts both the network and the organization in profound, positive ways. National CARES Mentoring Movement "recruits and connects mentors with local youth-serving and mentoring organizations to help guide struggling Black children to academic and social success."

"National CARES was a perfect fit for us — not only do they help children in our communities, but its mission aligns with another focus area for our network: professional development," says Miyoshi West, BPG Enterprise Co-Lead. "Through CARES, we’re looking at the next generation, helping assess what those children are lacking in their lives that would allow them to be the best they could be, to reach their full potential, just as our network makes sure our members are living up to their full potential."

Ally Program sends a powerful message of inclusivity where differences are valued and respected

At Bank of America, we strive to help all employees reach their full potential. Our support comes through in our values, policies and benefit programs, which have helped to create an inclusive environment where differences are valued and respected. To help continue to drive positive change and engagement for our colleagues, Bank of America has launched the Ally Program, in support of the Lesbian, Gay, Bisexual and Transgender (LGBT) Pride employee network.

An ally is someone who is supportive of and accepts all teammates, including our LGBT colleagues, or who personally advocates for LGBT inclusivity. The program will provide opportunities for employees to participate in educational and volunteer events while learning how to assist the LGBT community with the challenges they face.

"The Ally program is an important part of strengthening our culture of inclusion, and it’s a reality because of the passion of our own employees," said Geri Thomas, Chief Diversity Officer. "The program provides an opportunity for all employees to declare openly that they’re an ally and ensure that all employees feel included, valued, and confident that they have every opportunity to succeed in our company."

The power of an ally

Aimee Broadhurst, a corporate communications manager in Global Marketing & Corporate Affairs and LGBT Pride Ally program co-lead, became an advocate and unofficial ally years ago after seeing differences in her two sisters’ work environments, where one was out and the other was not.

"It fueled my passion to be visible as a straight ally at the bank," Aimee said. "I don’t ever want a colleague to feel like they cannot be who they are. The Ally program shows how we truly are better when we are connected. Those connections are only possible in an environment where every single person brings their whole self to work every day."

Military Services & Assistance Group recruits top talent for the bank

In the past few years, Bank of America has increasingly recognized the unique value that veterans and reservists bring to the table; military personnel are self-starters, understand logistics and have a service- and teamwork-oriented attitude, all of which help them contribute to the success of the bank.

To increase the numbers of military personnel at the bank, the Military Veteran Recruiting Program (MVRP) was tasked with an ambitious goal of doubling the number of veterans hired in one year. This goal was surpassed by the end of the third quarter, thanks to the combined efforts of the MVRP team and the Military Support and Assistance Group (MSAG). Overall for 2012, the bank hired more than 1,600 veterans.

Life is better when we are connected to our customers, clients and our community

Our diversity efforts have been recognized by various external organizations and media around the world. We are honored to receive these awards.

At Bank of America Merrill Lynch, our most important asset is our people. Our benefits programs are designed to meet the diverse needs of our employees at every stage of their life and help them plan for tomorrow.

Health & Insurance Benefits

We offer a comprehensive benefits package that includes medical, dental and vision coverage for employees and their eligible family. Life and disability insurance options provide income replacement in the event of serious injury or death.

Our health plans focus on wellness and helping employees learn more about their own health to save money in the long run. Through this focus on wellness, our covered employees and dependents have access to tools like healthy lifestyle coaching to support a healthier life. Employees can contribute to tax-favored health care accounts to help manage out-of-pocket health care costs. To help, the bank also contributes to eligible employee’s health care accounts.

Medical

Bank of America offers medical plans that are easy to understand; and delivers valuable features to help manage health care costs by focusing on wellness. All of our plans include the predictability of an annual deductible, security of an out-of-pocket maximum and coverage for eligible medical services, such as doctor's office visits, specialist care or a hospital stay as well as a prescription drug plan.

Dental

We offer a dental plan that provides coverage for preventive care, basic care, like fillings, extractions and repairs, and major care, like crowns, dentures and bridges.

Vision

Our vision plan covers eye exams, eyeglass lenses, frames and contact lenses. Employees also can elect a vision discount program, which offers discounts on routine eye exams, eyeglasses, LASIK surgery, contact lenses, nonprescription sunglasses, contact lens solutions and other eye care accessories.

Health Care Accounts

Health care accounts help our employees manage out-of-pocket costs by setting money aside pretax from their paycheck to use for eligible health care expenses.

Dependent Care Flexible Spending Accounts

This account allows employees to contribute pretax dollars to pay for eligible out-of-pocket dependent care expenses.

Associate Basic Life Insurance

Employees are automatically provided with bank-paid basic life insurance equal to one times their annual base salary, up to a maximum of $2,000,000.

Supplemental Life and Accidental Death and Dismemberment Insurance

Our employees may purchase Supplemental Life and Accidental Death and Dismemberment (AD&D) insurance for themselves, their spouse/domestic partner and their children, up to certain limits. Additional supplemental life insurance can be purchased for up to eight times the sum of annual pay and bonus up to $3,000,000. AD&D insurance pays a benefit if an employee (or a covered family member) becomes paralyzed, dismembered or dies as the result of an accident.

Performance-based compensation

In addition to base compensation -- bonuses and incentive programs are important parts of our overall compensation package.

Life Management Benefits

Bank of America’s comprehensive Life Management programs are designed to assist employees with many of life’s challenges and opportunities:

Parental Leave

After working one year for Bank of America, employees can take up to 12 weeks of paid maternity, paternity and adoption leave.

Adoption Reimbursement

Reimburses up to $8,000 per adopted child upon legal adoption for eligible employees.

Back-Up Care

Provides employees with access to 25 days of center-based childcare per year when their primary caregiver is temporarily unavailable during work hours (such as vacation or sick). Care is available for children 6 weeks to 12 years of age.

Benefits Education and Planning Center

Provides employees with unlimited one-on-one financial, retirement and benefits planning with an experienced financial counselor at no cost.

Child Care Plus®

Helps pay for childcare expenses incurred while working by reimbursing you up to $240 per month, per child for income-eligible employees.

Tuition Reimbursement

Bank of America reimburses eligible employees up to $5,250 for job-related courses or to fulfill a job-related degree program.

LifeCare®

A free, confidential resource and referral program offering practical advice and support to help employees and their families manage work and personal responsibilities, including financial and parenting advice and helping find child- and elder-care resources.

Employee Assistance Program (EAP)

A voluntary, confidential service to help employees and their families deal with family problems, job-related issues, stress and other situations.

Retirement Benefits

Whether our employees are just starting out or well along the way to planning for retirement, Bank of America offers retirement benefits and the tools and resources to help employees meet their future financial goals.

Our retirement benefits focus on the 401(k) plan, which gives employees control in managing their retirement savings by allowing them to choose how their money is invested. The plan is funded through your payroll contributions, and the bank adds to employee accounts through:

  • Matching contributions of up to 5% of eligible compensation
  • An annual company contribution of 2% or 3% of eligible compensation, based on your years of vesting service

In addition, we offer tools and resources — available online and through personalized one-on-one conversations with a financial counselor — to help manage 401(k) accounts, as well as overall retirement plans.

Not all employees are eligible to participate in all benefit programs. The terms and conditions of the benefits described above may be governed by written benefit plans and/or other documents. The above stated description of benefits is intended as a summary and for informational purposes only; this document does not create a contract between the company and any employee or potential employee. The underwriter of the auto and home insurance policies is not affiliated with Bank of America. All programs and benefits are subject to change at any time.

Time away

Bank of America offers employees a range of paid and unpaid leave options for taking the time they need away from work (some programs require one year of continuous service to be eligible):

Time Off

Provides employees with both paid and unpaid time off from work for illness, vacation, holidays and other personal reasons (includes leave of absence policies).

Parental Leave

After working one year for the bank, employees can take up to 12 weeks of paid maternity, paternity and adoption leave.

Purchased Time Off

Gives an employee the flexibility to purchase additional hours of personal time away from work that is available after regular vacation time is used. Manager approval is required.

Short-term Disability

Provides partial income replacement if an employee is unable to work for more than seven consecutive calendar days, due to a qualifying disability, up to 26 weeks.

Long-term Disability

Provides partial income replacement if an employee is unable to work due to a qualifying disability. Additional coverage can be purchased.

Employee Banking & Investment

As a Bank of America employee, you have access to a full range of Bank of America products, and services with preferred pricing and employee discounts. You can also take advantage of Merrill Lynch investment products and resources to pursue your financial goals at every stage of your life.

You may know that as a Bank of America employee, you can enjoy all the same products and services as our customers and clients. But did you know you can also get higher rates on money market savings and lower rates on loan products?

The Employee Banking and Investments team (EB&I) provides the guidance, tools and products to help improve your financial well-being.

Our financial advantages may include:

  • Preferred rates and fee waivers on checking and savings
  • Higher earnings rates on money market accounts
  • Competitive interest rates and fees on employee credit cards
  • Special discounts on vehicles, cars, boats and RVs
  • Reduction in discount points on mortgages and the assistance of a dedicated Home Loans team
  • Special pricing on investment product(s) available through Merrill Edge

Your short-term and long-term financial goals may change over time. That’s why it’s important for you to know about everything EB&I has to offer – from everyday banking to home loans, car loans, investments and more.

Special pricing on investment products is also available through Merrill Edge.

Flexible Work Arrangements

You may be able to take advantage of a work arrangement that gives you flexibility in balancing your life and work schedules. Flexible work arrangements are mutually agreed upon by a manager and an employee.

Work Arrangement Options

  • My Work®: A formalized plan that gives employees the opportunity to work from a variety of corporate bank locations or from wherever they are most productive as opposed to a traditional, dedicated cubical or office
  • Alternate Work Location: A program that provides the opportunity for associates to work at a location outside of the bank (home or mobile location)
  • FlexTime and Compressed Workweeks: A program that offers employees a flexible option to alter starting and/or departure times, or condense a full-time workweek into fewer days, and job responsibilities for a specific need.
  • Select Time: A program that reduces an employee's work schedule and job responsibilities for a specific need
  • Job Sharing: A program that allows two non-overtime-eligible employees to share the responsibilities of one job. For example, two employees can share one full-time job and each work 20 hours a week.





Merrill Lynch Reviews

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Merrill Lynch President & CEO of Bank of America Brian T. Moynihan
Brian T. Moynihan
352 Ratings
  • Great

    • Work/Life Balance
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    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
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    Pros

    Great culture , great reputation, friendly people

    Cons

    no cons about my experience

    Advice to Management

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Merrill Lynch Interviews

Interview Experience

Interview Experience

67%
23%
8%

Getting an Interview

Getting an Interview

28%
25%
19%
11
7
6
1

Interview Difficulty

2.8
Average

Interview Difficulty

Hard

Average

Easy
  1.  

    Summer Interview

    Anonymous Interview Candidate
    Accepted Offer
    Positive Experience

    Interview

    Multiple round interview. First interview was over the phone about my previous work experience. Second in person interview was more technical. Hired 10+ interns that summer. Interviewed with an associate and analyst.

    Interview Questions

    • Why interested in Wealth Management? Explain what a bond is? Explain what a stock is? How do you measure volatility in a market?   Answer Question

Merrill Lynch Awards & Accolades

Something missing? Add an award
Top 50 Corporations for Supplier Diversity , Hispanic Enterprise, 2009
Top Intern Employers , CollegeGrad, 2009
Top Entry Level Employers , CollegeGrad, 2009
Top Master's Employers , CollegeGrad, 2009
Best Place to Launch a Career , BusinessWeek, 2008
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Additional Info

Website www.baml.com
Headquarters Charlotte, NC
Size 5000+ Employees
Founded 1820
Type Subsidiary or Business Segment
Industry Finance
Revenue $10+ billion (USD) per year

Economic crisis? Merrill Lynch cried bully on that. The Wall Street institution with the iconic bull logo is now the wealth management, brokerage, and investment banking arm of Bank of America. The retail banking giant acquired the distressed investment bank in 2009 in a move that greatly expanded its wealth management and international operations. Merrill Lynch is among the world's top brokerages, with some $2.2 trillion in customer assets. The company also provides corporate finance, investment banking, and research services to institutional, commercial, and ... More

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