Pros

Looks good on Resume
Get to wear fancy suits and a gold watch
Kissing up to old people with lots of money

Cons

They completely ignore interns
no structure
no communication

Advice to Senior Management

engage interns with projects and assignments, offer to write letters of recommendation, acknowledge the interns

Pros

Intelligent people
Some excellent managers
Respect for technology was on the rise; ambitious plans fofr electronic trading technology
Flexibility about hours (in the IT groups, at least).

Cons

Sometimes hidebound; fair amount of paperwork; emphasis on managing upward for promotion.

Advice to Senior Management

Independent thinkers and people who like to talk directly to SMEs may not hang around.

Pros

Name recognition, access to endless product line.

Cons

no longer a place to begin a career as BOA buyout has shifted focus from training homegrown advisors to buying already successful ones from competitors.

Advice to Senior Management

Take all administrative duties away from all advisors especially the ones just starting out as they are the ones that need to focus solely on sales.

Pros

Job duties- You have a sophisticated platform that really makes life easy. You take on a good amount of responsibility in the advisor's business. Pay and benefits are very competitive with additional incentives- depends with advisor you work with. Company- Prestigious. Sophisticated. people. Good training and development. Resources galore on research. A company that gives you the tools to give your client the best experience and for you to get the best resources to do your job.
If you are happy with the associate role and want to do this all your life you are in a great place.

Cons

Duties- Roll of the dice with your experience in the advisor you work with pay, treatment, etc. The brokers here are much more driven and nothing but business. The entire business revolves around advisors and their egos are huge especially here where its probably one of the most difficult areas to develop a book of business on your own or you are a big fish that came over from another firm. Company- Biggest con is do you want to be an associate all your life- if you do your in a great place but if you want to move up its a murky future. Being an advisor you have to generate a book of high networth clients in a short period with no leads. If you can do this your golden but I reckon 1% succeed. Its a difficult program. If you want to go to other areas of the firm its very difficult because they only hire top graduates with golden resumes. My observation is that management is highly qualified as well. I have seen associates that have been there for years and have never been promoted. Maybe they didn't want to. I guess it relates to location this is my experience and observation, I'm sure that there are other locations with opportunities and managers without MBA's.

Advice to Senior Management

Merrill and Bank of America are two completely different cultures and client bases make sure you don't forget that and make sure you don't anger the clients.

Pros

This is agreat place to start and recieve your liscensing
The company fosters growth and pays you to get started
You are managing an existing book and helping to increase assets without having the stress of needing to be out there on your own

Cons

The beginning pay is low but that shouldbe expected in an industry where everything is expected to be made off of assets received and commissions mande

Advice to Senior Management

There truthfully is nothing that I would change about this position. They allow you to get your licenses and also actually learn about investments. I spoken with too many branch born advisors that cant do anything but bring in assets

Pros

As I said in the title, the benefits at ML are second to none. You have access to a decent trading platform and ML will pay for you to get an MBA and will also pay for your licensing fees. Beyond that, good luck!

Cons

First and foremost was the incompetent mangement. At my branch, they were were a bunch of southern hillbillies whom I was quite surprised to see in those positions. Not only was their outward appearance loathsome, but they hadn't the slightest idea as to how to treat their employees and listen to everyone's point of view on a matter. If you're in any position there aside from a high producing broker, they treat you like dirt. Even old timers who'd been there literally forever were treated poorly by management....what does that say about a company??

Advice to Senior Management

1. Learn how to dress (seriously). You all look like schlubs.
2. Don't treat your support staff like dirt. We make the gears turn around there.

Pros

great name and resources and software as well as funding to help you get started

Cons

environment stressful, not very friendly, very isolated with not much interaction with your fellow employess, YOU ARE ON YOUR OWN

Advice to Senior Management

Show more effort to reach out to entry levels and help them out or speak with them directly not at huge company meetings

Pros

Being in control of your career, freedom and flexiblity, earning potential

Cons

working hard will not always equal results, hard profession to crack without having a wealthy network, long hours (you are always looking for your next client), salary evaporates at some point

Advice to Senior Management

Support FA's (the management does a pretty good job of that already)

Pros

- High level client projects
- Intelligent colleagues
- International exposure
- Leader in many aspects of Investment Banking
- Excellent facilities

Cons

- Work / Life Balance
- Low pay compared to peers
- No internal mobility
- Lack of client contact at junior levels

Advice to Senior Management

- More transparency when it comes to bonus and reviews
- Greater flexibility on work / life balance as allows
- Greater focus on training and internal mobility to retain talented junior staff

Pros

Pay while training was pretty good
Get your licenses
You can make a lot of money if you have a list of clients to bring to Merrill.

Cons

99% of new people fail
Trarining isn't very good. Merrill Lynch used to have a good reputation for training, but this isn't true anymore.

Management's plan is to hire a ton of people and hope they bring in a few clients. You will then be fired because the goals are crazy. Your clients will be sent to the more senior advisors.

Advice to Senior Management

Invest in training.