Merrill Lynch

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Merrill Lynch Reviews

Updated January 29, 2015
Updated January 29, 2015
1,267 Reviews
3.7
1,267 Reviews
Rating Trends

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Merrill Lynch President & CEO of Bank of America Brian T. Moynihan
Brian T. Moynihan
359 Ratings

Review Highlights

Pros
  • Decent work/life balance(based on your work area) Good (not great) benefits (in 50 reviews)

  • Learned a lot about wealth management, especially through the online courses (in 43 reviews)


Cons
  • The work-life balance is definitely a con (in 23 reviews)

  • You are expected to work long hours with no overtime pay or additional compensation (in 37 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Stuck in a dead end job.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Client Associate
    Current Employee - Client Associate

    I have been working at Merrill Lynch full-time (more than 8 years)

    Pros

    Very team focused and lucrative if you are on a larger team. We have great benefits and the opportunity to utilize an HSA account for medical bills.

    Cons

    It's a very stressful work environment. Office management is disengaged with employees and out of touch. They tend to only cater to the high producing teams. Individual Financial Advisors are frowned upon in hopes of getting them to join/form a team.

    Advice to ManagementAdvice

    FA's are very abusive to the CA population. The abuse is often overlooked in hopes of keeping high producing FA's happy. The CA position is really a dead end job if you are on a team. Develop a better career path for the Client Associates.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  2.  

    Great place to work. Highly professional

    Former Employee - Client Associate in Phila, PA
    Former Employee - Client Associate in Phila, PA

    I worked at Merrill Lynch part-time (more than a year)

    Pros

    I worked in a Merrill Lynch office about 20 minutes from my house. It was an easy commute. Everyone in the office was very friendly and willing to answer any questions I had.

    Cons

    Unfortunately, my position responsibilities changed over the course of my 2 years that I was employed. The position evolved into one more administrative.

    Advice to ManagementAdvice

    Be more clear with position descriptions. I understand positions will evolve over time but it took a 180.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Good start for financial learning, but not interested in your goals.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Merrill Lynch full-time (more than 3 years)

    Pros

    They are a great firm to learn about the financial business.

    Cons

    after merging with Bank of America, employees became more like numbers and they didn't truly care about our reviews.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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  5.  

    Great Experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Wealth Management in Cincinnati, OH
    Current Employee - Wealth Management in Cincinnati, OH

    I have been working at Merrill Lynch as an intern (more than a year)

    Pros

    Great hands on experience in wealth management with very affluent clients. Worked directly with client portfolios preparing review materials and trading options models.

    Cons

    Low pay, little on-boarding process

    Advice to ManagementAdvice

    Based on the high-level of work produced my interns, consider upping the pay to meet the regional standard $15/hour

    Recommends
    Positive Outlook
    No opinion of CEO
  6.  

    So far, so good

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Multi Store Manager
    Current Employee - Multi Store Manager

    I have been working at Merrill Lynch full-time (more than 8 years)

    Pros

    Plenty of time to study for series exams. Middle management and upper management are in touch with those on the ground.

    Cons

    Lower pay than rest of industry

    Advice to ManagementAdvice

    Pay for talent and turnover would be reduced

    Recommends
    Positive Outlook
  7.  

    Great Company with Many Opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Merrill Lynch full-time (more than 3 years)

    Pros

    Teamwork, Comraderie, Managers willing to help you get to the next step, Lots of learning opportunities, Many directions to go into once you get a base with the firm

    Cons

    No bonus structure with my department, which kind of takes away from one trying to perform their best to receive bonues. It doesnt stop me from trying to succeed, but I would be nice to have a bonus structure.

    Recommends
    Positive Outlook
  8.  

    Intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Merrill Lynch

    Pros

    Provided support, helpful, nice, growth opportunity, learning curve, good hours, decent pay, easy interview

    Cons

    Said they were going to give me all these projects to work on but never ended up doing that. Got bored a lot. Had to find things to do often.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Good Internship Experience

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Merrill Lynch

    Pros

    Worked as a Global Wealth Management intern for a semester in 2010. Worked closely with financial advisors and high net-worth clients. This internship experience greatly improved my communication skills and helped me understand what I want to do in my carer.

    Cons

    didn't have a work station or a computer as an intern.....

    Recommends
  10.  

    In short, working at Merrill Lynch feels like working in a police state. Every move you make is questioned.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Registered Client Associate in San Francisco, CA
    Current Employee - Registered Client Associate in San Francisco, CA

    I have been working at Merrill Lynch full-time (more than 3 years)

    Pros

    The pros are few. One is that you get the experience of working in a very demanding environement, so you learn how to deal well under stress and negative circumstances.

    Cons

    Little to no opportunity for advancement, little support and opportunities for personal and professional growth. No process, in terms of servicing clients and accounts, is efficient - this is because of extremely tedious paperwork and misinformation by the back office. There is absolutely no formal training. I've now worked in two offices in two parts of the country, and even as the learning curve is huge and expectations are high, literally no training is provided. It sets new employees up for early frustration and failure. The only phrases I have heard repeated about how Merrill Lynch trains its Client Associates are "baptism by fire" and "sink or swim". That shows how much the firm wants to invest in you and values you....which is not at all. I've seen many people who could be very capable and successful, given the proper tools, begin at Merrill Lynch and fail within 6 months.

    Another large issue is the culture. Merrill Lynch management is afraid of losing financial advisors to other firms, so every decision is made to keep big producers happy. That means that Client Associates will always lose in a battle. If an advisor is unhappy with a Client Associate, the CA will absolutely be moved to support new advisors or fired. If the CA is unhappy with the advisor and requests to be moved to support other advisors, the wish will only (and I mean only) be granted if it will not make the advisor mad enough to leave the firm. In an office with about 30 Client Associates, I truly cannot tell you the last time one of them said they were happy with the culture, management, and day-to-day processes of the job. Discontent is extremely high and morale extremely low.

    Advice to ManagementAdvice

    There is no reward for hard work. You literally have to be with the company for around 15 years to see any material change in how you are valued. That is why the turnover is increasing exponentially. Promotions, substantial raises, and true professional growth support are non existent. If you change the culture from only favorings FA's to also valuing CA's, their contributions and career paths, you would see a drastic difference in turnover, loyalty and morale.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  11.  

    Financial Analyst at Merrill Lynch's Private Banking and Investments Group

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Analyst
    Former Employee - Financial Analyst

    I worked at Merrill Lynch full-time (more than 3 years)

    Pros

    Great hours and lifestyle for Wall Street firm.

    Cons

    Very little professional development or structure provided for analysts in the private bank.

    Advice to ManagementAdvice

    Review what firms like JP Morgan are doing in their private banks and try to bring in some of these elements of professional development and career progression for non-financial advisers.

    Recommends
    Positive Outlook
    No opinion of CEO

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