There are newer employer reviews for Merrill Lynch

 

Merrill Lynch, great place to work

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Senior Specialist  in  Salt Lake City, UT
Current Employee - Senior Specialist in Salt Lake City, UT

I have been working at Merrill Lynch

Pros

I believe the best reasons would be because of their benefits, the level of professionalism and the opportunities Merrill provides to succeed. If you would like to learn more about the industry you are in, a new area, or anywhere in the financial world Merrill has a class or provides tuition assistance to complete the class. Their benefits also are fantastic. In this day of high premiums and horrible insurance providers Merrill’s HMO plan is very competitive.

Cons

I don’t know if I see so many for working for ML & Co. but working for Merrill Lynch Bank USA does not provide a lot of area’s for growth. The Senior Management is not going anywhere and there are little to no opportunities to advance in SLC.

Advice to ManagementAdvice

I wouldn’t have feedback for ML & Co. but the feedback that I would give to Merrill Lynch Bank USA would be to bring new products into the bank allowing opportunities for growth.

Recommends
No opinion of CEO

1157 Other Employee Reviews for Merrill Lynch (View Most Recent)

Sort: Rating Date
  1. 2 people found this helpful  

    Greg Fleming - Isnt actually the leader

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Vice President, Global Wealth Management  in  Hopewell, NJ
    Current Employee - Vice President, Global Wealth Management in Hopewell, NJ

    I have been working at Merrill Lynch

    Pros

    Merrill has a good name in the finance industry, which makes it desirable from a resume perspective. Where ever you go the name Merrill Lynch is known, and they seem to have unlimited funding for anything related to marketing and public relations. If you are a financial advisor they have some very good programs. The apprenticeship program lasts about 2 years, and many of the candidates are from the interns that are hired for summer jobs. The interns are treated more like trainees then employees, and get the benefits of spending time with management that regular employees never get a chance at. Often, interns are given choice assignments because it's politically visible to show that the manager is 'helping the community'.

    Cons

    When you work at Merrill, you first hear about the Merrill culture. "Mother Merrill".
    The real culture at Merrill does not encourage original thinking, presentating ideas, sharing information, or growing as an individual. Status is everything, from what you wear to what you drive.
    The culture is disappointing because while they claim to provide opportunities for women and minorities, what you really have are specific groups that are actually quite prejudiced. Most of the ethnic groups only hire from their own culture, so if you get a manager who's from X-country, he will only hire people from X-country, while an American manager would be required to hire from several ethnic cultures. And because they count 'ethnic' as one group, they can say dept 1 has 10 ethnic credits, even if all 10 are from one country. This is not diversity. A true multicultural environment would enable diverse people to work in one group, not separate pockets of cultures within one large department.
    And finally, the biggest problem is that management is shifted every 6 months, so as soon as you establish your skills and value to a manager, that manager is moved and you have to start all over.

    Advice to ManagementAdvice

    The personnel department needs some training in handling issues, Employees are told their issues are confidential yet personnel informs their managers on what was said and who did it. Retaliation is a reality.

    Another area would be to pay more attention to where you are spending money, PMO groups are overstaffed while groups doing actual work are critically understaffed. Projects are being delayed due to lack of resources, yet there is no shortage of PMO's to report the delays and hound the worker.

    Find ways to encourage creativity and individual thinking instead of trying to get everyone to fit into the Merrill mold. You would benefit from allowing some creative problem solving.

    No opinion of CEO
  2. 2 people found this helpful  

    To those considering a job in the Chicago Investment Banking office at ML

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Investment Banking Managing Director  in  Chicago, IL
    Current Employee - Investment Banking Managing Director in Chicago, IL

    I have been working at Merrill Lynch

    Pros

    The Merrill Lynch name is a well-respected brand in investment banking and asset management.

    Cons

    I want to preface this by disclosing that I am only referring to the investment banking office in CHICAGO, IL and not the firm as a whole, since I have worked in the Chicago investment banking office. Since ML is a global organization, other offices may run differently. I still currently work at ML and I would advise anyone seeking employment in this office to think otherwise, as the office is so incredibly dysfunctional. I hope to get transferred to another office as it has been absolutely unbearable here. The New York offices are much more normal in terms of functionality. Anyone who has an offer from Merrill to work in the investment banking office in Chicago should ask to be placed in a different location before they accept their offer, and management will usually accomodate such requests as long as you give an acceptable reason (obviously saying that I heard the office was dysfunctional will not suffice). If you do decide to work in the Chicago office you will quickly realize what is being referred to here. I have worked at other investment banking firms and I can tell you that this is the most political office I have ever seen or could even imagine; it is unbelievable that any work at all gets done here. Everyone is so involved in this political chess match, and it all stems from senior management's running of the office. The majority of senior management from VP to MD/Group Head all live within a 5 mile radius of each other on the North shore so they all act as though they are close, but the funny part is that they constantly are stabbing each other in the back. Further, several of them also worked together in the London office so there are some extreme conflicts of interest as well. Trying to decipher the alliances between them is difficult because when it comes down to it they all end up talking negatively about each other to varying degrees. The cause is due to the fact those who are responsible for running the office are completely negligent in their duties, and the up and coming MDs who are supposedly friends realize that it is being mishandled so everyone is jockeying for the position of running the office next, so they in turn all stab each other in the back to position themselves. The NY headquarters is out of touch and if they knew some of the things that went on in this office there would definitely be a change in senior management at all levels. This is due to the fact that senior management is aware of the dysfunctional nature of the office, but since they have all worked together so long and everyone is comfortable enough where they are that they won't "rock the boat" too much in their backstabbing efforts that what ends up happening is they make everything appear normal to those in NY, and either fire or force out anyone who brings up the injustices that occur in the office. One day this will be recognized by someone in NY and the other MDs realize this and so that is what causes them all to do this in the first place. So it is like one big cycle that just keeps adding to itself. Now this all inevitably rolls downhill and can even be seen among the analysts and assistants. Normally, politics should not even be an after-thought among secretaries, analysts, and even associates, but it is widespread in this office. Meanwhile, the VPs/Directors from London are not monitored at all and just completely abuse the analysts and associates. The London VPs/Directors shout at the top of their lungs over the most mundane things and are completely stricken with power hunger; the things that are said on a daily basis are completely demeaning and verbally abusive in many cases and I seriously have seen animals treated better than how he treats the analysts and associates. Occassionally someone will unknowingly bring a complaint to the DO or senior management regarding this behavior and treatment, and then very shortly after the person is either let go or forced out and this has happened more than once. The fact of the matter is they know how the London VPs/Directors are treating the analysts and associates, but they still fail to do anything about it because of the way it will be perceived by HQ in NY. Many people have turned down other prestigious jobs at other competing firms to work in the Chicago investment banking office and inevitably they regret their decision every single time, which is why there hasn't been a single analyst who has made it to the VP level in 16 years. The reason is because they all leave after they realize what a mess they have walked into.

    Advice to ManagementAdvice

    To the senior management in ML New York investment banking - I think it is time to clean house in the Chicago office and the first place to start is at the very top because there are so many issues that have gone unnoticed that they not only cause great people to leave the firm, but also because in some instances the issues present a possible liability in the form of litigation or bad PR

    Doesn't Recommend
    Approves of CEO
There are newer employer reviews for Merrill Lynch

Worked for Merrill Lynch? Contribute to the Community!

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