Merrill Lynch Reviews

Pros

- Learn new skills (communications, leadership and software)
- Able to interact with clients and participate in training sessions
- Sense of belonging to the team, engaging experience
- Encourage creative problem solving
- Network across departments, branches and teams
- No micromanagement
- Flexible working schedule for students

Cons

- No formal internship program
- Low entry level salary
- Lack of administrative/marketing support
- Repetitive work
- Hierarchical structure
- Under staffing increases workload

Advice to Senior Management

1. Be aware of the triple bottom line! Implement company wide sustainability campaign (lower overhead costs and brings a better working environment)
2. More opportunities for career advancement

Pros

Good salary, nice working group

Cons

Bureaucracy. Top management out of touch.

Advice to Senior Management

Take a look at your business model.

Pros

An investment bank with a global presense. Good to work if you are able to handle the pressure of overall challending financial performance firm wide and stresses of headline news. (I worked in 2008)

Cons

Post merger/acquisition climate was not very conducive... a lot of uncertainity. However, things I hear have changed a lot and there is more communication of expectations. I still recommend working for ML/BOA. (I worked in 2008)

Advice to Senior Management

Keep the message simple, direct, consistent and meaningful. Manage the media/headline news better. Advertise and highlight the strengths both internally and externally. (I worked in 2008)

Pros

The company benefits are excellent.

Cons

You are expected to work many hours after your shift and practically live there. This is not a good place for anyone who wants a life outside of work.

Pros

Obviously one of the most recognizable brand names in the financial services industry. It's a great name to have on your resume.

Cons

Many layers of management, combined with a matrix of reporting often leads to a lack of accountability when things go wrong.

Advice to Senior Management

Do a better job of making sure that objectives are well understood and that accountabilities up and down the line are clear.

Pros

nice place to market yourself to multiple departments. job in general is okay. very nice place looking job campus with a bit of benefits.

Cons

it can be a place you spend a lifetime and not really progress in terms of your career. movement within the department is very tedious and slow.

Advice to Senior Management

The leadership at Merrill Lynch does the best they can with what they have. However, there is definitely a lot of room for improvement.

Pros

They gave material to study for certification exams and there were a lot of networking opportunites among the other employees and clients.

Cons

All we did was coldcalling. There was no actual investment banking experience. I wish I'd gone somewhere else to do my internship.

Advice to Senior Management

They should come up with a more hands on and useful intern program. Most of us don't want to coldcall for a living and its a waste of our education and talents.

Pros

Professional, great management. People assign you work and explain to you why its important and hows important to you rather than just assigining you busy work. Smaller firm so everyone is friendly and on a first name basis.

Cons

Not as high of a standing as maybe some other financial giants.

Advice to Senior Management

Keep doing what you're doing.

Pros

Compensation structure is ok and sales goals are reasonable.

Cons

Mandatory 14 hour days.
Cold Calling is only option to get clients per managementeven if you are meeting and exceeding your goals.
Cleint does NOT come first. "Encouraged" to sell A shares and Annuities due to large commissions.

Advice to Senior Management

Get more honest coaches/advisors and kepp promises made to new employees during interview.

Pros

The pay can be good, but only for about the top 5-10% of employees.

Cons

The sales goals are always changing, and never for the benefit of the employee
Your work is never fully appreciated, as management focuses on the negative much more than the positive

Advice to Senior Management

A representative's sales record does not make them a good managerial candidate