Merrill Lynch - An excellent experience that opened me up to the wealth management industry! | Glassdoor
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"An excellent experience that opened me up to the wealth management industry!"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Intern - Wealth Management Intern in Pittsburgh, PA
Former Intern - Wealth Management Intern in Pittsburgh, PA
Recommends
Positive Outlook
Approves of CEO

I worked at Merrill Lynch as an intern (More than a year)

Pros

Great exposure to senior financial advisors and management. Worked one-on-one with wealth management group financial advisors and client associates. Management offered sound advice and were wide open to formal and informal conversations throughout the office. The culture cultivated a pristine and honorable environment that I enjoyed working in throughout the two year internship.

Cons

As one of a few interns throughout the office, there were not many people my own age.

Advice to Management

Have more structured branch activities involving interns to "ease" up on the conservative financial services culture that can be seen from out viewpoint.

Other Employee Reviews for Merrill Lynch

  1. "Very insightful"

    Star Star Star Star Star
    Former Intern - Financial Analyst in Los Angeles, CA
    Former Intern - Financial Analyst in Los Angeles, CA
    Approves of CEO

    I worked at Merrill Lynch as an intern (Less than a year)

    Pros

    -I got to work with lots of intelligent people as an intern.
    -There were lots of resources available
    -Lots to be learned as an intern
    -Learned about current markets as the boss explained various terms and issues

    Cons

    -Occasionally didn't have anything to do.
    -Started off with filing jobs

    Advice to Management

    -Perhaps create a schedule for the interns to work so time isn't wasted


  2. Helpful (10)

    "Churning Financial Advisors in a Financially Difficult Period"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - PMD Financial Advisor in New York, NY
    Former Employee - PMD Financial Advisor in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Merrill Lynch full-time (More than a year)

    Pros

    Salary, platforms, many supportive advisors.

    Cons

    The PMD program is a joke. The goals are rediculously high, management is extremely rigid, and the month you don't make your hurdles they are more than eager to put you out on the street. The whole point of this program isn't to cultivate talented advisors as much as it is to get people in the door any way possible (usually through deception), get as many family/friends accounts over as soon as possible, let you go when you haven't hit your hurdles so that the older Advisors can inherit your accounts without having to do any real prospecting. it's a sham; don't waste your time unless you have no other options and can milk them for whatever they are willing to give you.

    Advice to Management

    Spend time cultivating Advisors instead of churning them in and out...stop lying to Advisors to get them in the door, then lying on the way out saying it was because you didn't hit your hurdles when the fact is that senior management needs to satiate the older advisors who are too lazy to prospect anymore.
    The PMD program is a meat market; 90% of advisors don't make it (they will tell you it's 25%--don't believe them). Every other thing is a lie or a drastic misrepresentation. Many of us were lied to about salary arranagements to incur us to work there, about split arrangements with senior advisors, how long we would have to catch up to our hurdles...it's a joke and the levels they will go to deceive you to fatten their pockets at the expense of yours--well all I can say is that I warned you.

    Not a place to build a career. More like a stop in between careers or an alternative to unemployment.

There are newer employer reviews for Merrill Lynch
There are newer employer reviews for Merrill Lynch

See Most Recent

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