Merrill Lynch Reviews in Houston, TX Area

Pros

Good name, good resume builder. Very respected name in the financial world. No pay but got college credit hours for the internship

Cons

Cold calling on the phone all day is a waste of my talents and skills. I wish I got to do more hands on stuff.

Advice to Senior Management

If I were to offer advice I would like to do more as an intern and be a part of the whole process.

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

Training program is very motivating.

Cons

Have to be a self motivated person and long hours after work to stay afloat.

Advice to Senior Management

None yet.

Pros

Good promotion, used to be good bonus

Cons

Now part of BoA is not good.

Advice to Senior Management

Let us be independent business

Pros

It is great to have a large corporation on your resume especially when still trying to find a full time job. It is also great to see the inner workings of a large corporation to see how every individual serves one specific purpose.

Cons

Growth and the kind of work you do is pointless. This was an internship where I was supposed to learn about the financial sector but I spent most of my time folding papers and making copies. It was pointless. The only way I learned anything was by watching the people around me while I stuffed envelopes.

Advice to Senior Management

If someone is going to dedicate their time for an internship please help them gain actual experience that will help them later in life. Do not just use them as free labor.

Pros

A lot of opportunities to move around various desks;
if you make a good P&L, you will get a lot of respect and will be presented with a lot of opportunities

Cons

Very short term driven as management cares only about the current year P&L;
Uncertanty about the new financial reforms pushed down from Washington

Advice to Senior Management

This is best time to increase our risks and capture market share as a lot of our competitors are suffereing and/or trying to get out of prop trading

Pros

Great benefits and workplace environment. Merrill is well capitalized and they spare no expense in creating cutting edge systems and providing a well apportioned office.

Cons

Success is more down to luck than skill. Their training program is absolutely horrible yet they claim it to be the best in the industry. Having been in the industry for about 20 years I can say with authority that their training program is at the bottom of the barrel. Now that BofA is heading the firm the famed Merrill customer oriented service is slowing but most assuredly heading down the drain - BofA is all about quantity. BofA would replace every single Advisor with a touch screen if they could and their recent changes to advisor compensation prove my point. You are HIGHLY unlikely to succeed here now that BofA has brought a "Mass market" mindset to the helm. Two words of advice - RUN AWAY!

Advice to Senior Management

Merrill succeeded wildly because of competant management that responded to client issues. Now you just seem to be responding to issues brought to you from above.

Pros

Love working with our customers
Work with a great and trustworthy Financial Advisor
motivation through recognition
Career Advancement Opportunities
Great benefits
Pay not too bad

Cons

Career Advancement most likely only if you have a management friend in your corner
No training available to advance to a management position
Most of the cons I am feeling are aimed at local management

Advice to Senior Management

Recognize the Client Associates can and want to advance in their careers. Develop an actual training program to allow success in transitioning to a new position.

Pros

A good place to be until you are ready to further your career. Pay, benefits and bonues are good especially benefits. Education and training is very much encouraged. Tuition reimbursement is pretty good. Recent merger with BAC seems positive but uncertain.

Cons

Local management shows little respect if not a financial advisor. Career advancement is not encouraged. Future is uncertain due to merger with BAC. Mostly I am dissatisfied with local conditions.

Advice to Senior Management

You need a manager training program. There is no program for individuals whose ambitions lead to middle managment such as business manager, administrative managers or client relationship managers.

Pros

Exciting, fast-paced, lots of change. There is adavance technology, and if you get to know the rigt people you can learn anything you want about trading commodities. The people on the trade floor are generally open to talking about their work and the markets.

Cons

Management slow to make decisions; traders get everything; back office is not respected. People are promoted for who they are and know and not what they have accomplished. Not a meritocracy.

Advice to Senior Management

Look and see the talent you have and try to make use of it, instead of using the same people all the time and getting inconsistent results.