Merrill Lynch Reviews in Phoenix, AZ | Glassdoor

Merrill Lynch Phoenix Reviews

Updated March 30, 2017
16 reviews

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Phoenix, AZ Area

3.8
Star Star Star Star Star
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Merrill Lynch President & CEO of Bank of America Brian T. Moynihan
Brian T. Moynihan
6 Ratings

16 Employee Reviews

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Pros
  • They promote and encourage work life balance (in 93 reviews)

  • Friendly colleagues; Dynamic environment; Was offered rotational program so I learned a lot of stuffs (in 71 reviews)

Cons
More Pros and Cons

  1. "Excellent company"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Customer Service Representative in Phoenix, AZ
    Former Employee - Customer Service Representative in Phoenix, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Abundance of opportunity and different directions to choose from

    Cons

    too big of a company

    Advice to Management

    Focus more on the employee. Employees tend to get lost in the shuffle.


  2. Helpful (2)

    "Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Scottsdale, AZ
    Former Employee - Financial Advisor in Scottsdale, AZ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Merrill Lynch full-time (More than 8 years)

    Pros

    -Some (not all) of the colleagues are incredibly smart, hardworking and committed to doing what is right for the client.
    -Retirement benefits are solid.
    -Product platform is great and sufficient to win and retain business.
    -Flexible schedule...however you will be working all the time so it really does not matter.

    Cons

    -Your manager can make or break your career.
    -There are different rules based on your production.
    -The business is very difficult and most managers are not effective in helping you grow your business as they are simply task masters and just pass the messages along from above.
    -The management team in Phoenix is solid and the management team in Scottsdale is not. If you are serious about a career here seek out the Phoenix complex.
    -You will be required to make referrals to Bank of America and will likely not receive anything meaningful in return.
    -More and more the firm will tell you how to run your business.

    Advice to Management

    Talk less and listen more.


  3. Helpful (2)

    "Financial Advisor"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Scottsdale, AZ
    Current Employee - Financial Advisor in Scottsdale, AZ
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Really great company culture and potential for learning and personal growth

    Cons

    Keeping a minimum of $250k requirement to open an account and start investing with Merrill Lynch is not a very good idea for some investors.

    Advice to Management

    Not everyone likes to start investing with a minimum of $250k. Many like to start smaller and gradually grow over time and Edge is the worst possible solution.


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  5. "Great"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chandler, AZ
    Current Employee - Anonymous Employee in Chandler, AZ
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great benefits. Job security. Plenty of growth within the company.

    Cons

    Too much political correctness. Depending on the department, lack of career guidance.

    Advice to Management

    Hire more people who are actually interested in the Finance.


  6. Helpful (2)

    "PMD"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor Trainee in Scottsdale, AZ
    Former Employee - Financial Advisor Trainee in Scottsdale, AZ
    Doesn't Recommend
    Neutral Outlook

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

    Pros

    Flexible hours, discretionary vacation policy and ability to set your own schedule and work calendar, ability to develop your own book of business and practice.

    Cons

    Account minimum, terrible and corrupt management at the branch level, no real training or mentorship, advisors are left to just sink or swim. Countless examples of sexual harassment at branch level, and management having interns engage in unethical practices.

    Advice to Management

    Lower or eliminate account minimum, look into practices and culture at the branch level, monitor and hold these management individuals accountable.


  7. "Great Employer"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Internal Product Specialist in Chandler, AZ
    Current Employee - Internal Product Specialist in Chandler, AZ
    Recommends
    Positive Outlook

    I have been working at Merrill Lynch full-time (More than a year)

    Pros

    Tons of advancement opportunities all over the country

    Cons

    Sometimes, there can be a poor work/life balance


  8. "Financial advisor trainee"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Phoenix, AZ
    Former Employee - Financial Advisor in Phoenix, AZ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Merrill Lynch (More than a year)

    Pros

    Higher initial pay vs competitors

    Cons

    Training program is overrated: most of it is online. High failure rate >90% due to unrealistic production goals

    Advice to Management

    Make goals more realistic to attain


  9. "Cubical Farm"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Chandler, AZ
    Former Employee - Financial Advisor in Chandler, AZ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    fast paced and teamwork culture

    Cons

    cubical farm, put your head down and answer calls

    Advice to Management

    streamline learning


  10. Helpful (2)

    "The best training and atmosphere to prepare for taking your series tests."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - PMD Financial Advisor in Mesa, AZ
    Current Employee - PMD Financial Advisor in Mesa, AZ
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Merrill Lynch full-time (More than a year)

    Pros

    Training, Introduction into the industry, FA mentors

    Cons

    Tiers are not easy to hit. Success at ML requires personal high net worth connections, previous bank transaction lead connections. Must be able to find many leads with a net worth greater than 250K ML will give you trouble approving accounts for less than 100K. Your hard earned leads will be pushed to Merrill Edge.

    Advice to Management

    More oversight after the series tests have been passed on helping PMDs get legitimate leads.


  11. "Time as a summer analyst was well spent"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Summer Analyst in Scottsdale, AZ
    Former Intern - Summer Analyst in Scottsdale, AZ
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Good work/life balance. Given option to return after receiving graduate degree. Looking to grow practice.

    Cons

    Project flow was always at the mercy of ability to pull new clients. Unclear about career path within my group, which led me to accept another position.


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