0% of the CEO
Brian T. Moynihan
Pros – Worked closely with Bloomberg Terminal
Cons – Did not have clear and delineated job
Advice to Senior Management – More structured internship program
Yes, I would recommend this company to a friend
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Pros – The name and brand of the company.
Cons – The training program is awful, They don't train you at all. The put these enormous goals for you every month that are nearly impossible for make and they fail to tell you that you can only get your bonus if it exceeds the previous bonus you received the prior month. So, for example, if you were to make a commission every month you don't necessarily see a penny of that. No one in management knows how the PMD program works and cannot give you any guidance. You are left for fend for yourself and unless you have a substantial network and are willing to make nothing for 3 years and then hope for the best, I would recommend looking at JP Morgan or Morgan Stanley or Goldman. All of them have exceptional training program and give you ample time to learn the business before throwing you in the deep end. Also, they do not pay overtime even though you will be working overtime during the time period that you are studying for your exams.
Advice to Senior Management – Learn what it is that you are doing and create a platform that people can excel at versus creating an environment that makes it impossible to succeed.
No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company
Pros – - *Very* dependent on the wealth management adviser you work under and how much responsibility he/she is interested in giving you, as it is a very personal/non-standardized structure with much flexibility
- For me, this was a pro as I was given a solid amount of responsibility doing equity research for investment opportunities and learning the Bloomberg Terminal (very valuable as a rising sophomore), but YMMV
- Very flexible hours with only 20 hours per week/3 days per week, but again YMMV based on your manager
- Although minimum wage, still make money
Cons – - Still a not insignificant amount of grunt work, specifically filing and updating binders and Excel spreadsheets
- Only paid minimum wage
- Work was often sporadic and somewhat random, but YMMV as always
- Didn't get to sit in on very many client/firm meetings
Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company
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… — Full Overview
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