Merrill Lynch Reviews | Glassdoor

Merrill Lynch Reviews

Updated September 20, 2018
2,401 reviews

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3.7
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Merrill Lynch President & CEO of Bank of America Brian T. Moynihan
Brian T. Moynihan
732 Ratings

2,401 Employee Reviews

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Pros
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More Pros and Cons

  1. "Client associate"

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

    I have been working at Merrill Lynch full-time

    Pros

    Benefits, time off, great team

    Cons

    Position not really recognized for the high skill and knowledge required

    Advice to Management

    See Con above


  2. "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Lot of peoples and fun environment

    Cons

    Not a lot of movement

  3. "Client Associate intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Merrill Lynch part-time

    Pros

    Pay is good, and schedule is flexible

    Cons

    lots of cold calling, and not really flexible on the schedule

    Advice to Management

    not really


  4. "investment specialist"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Merrill Lynch full-time

    Pros

    great entry level opportunity. paid training and licensing.

    Cons

    the company is not great on retaining employees


  5. Helpful (1)

    "Busy pace and demanding workload."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Relationship Manager in Orlando, FL
    Former Employee - Client Relationship Manager in Orlando, FL
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Benefits, pay, peers and relationships

    Cons

    HR employee issues can be exhaustive and overly demanding that you have no life balance.

    Advice to Management

    Capacity issues are overwhelming and we are expected to do so many things across management beyond the job. Last minutes projects that are not well thought out before thrusting upon manager to handle which become bigger project issues.


  6. "Seasonal Client Associate Review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Seasonal Client Associate in New York, NY
    Former Employee - Seasonal Client Associate in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Merrill Lynch (Less than a year)

    Pros

    Helpful and knowledgeable management and colleagues in their wealth management department.

    Cons

    Merrill Lynch has their own office dedicated to wealth management in NYC. A con, therefore, is the office is rather small comparatively (more specifically the floor sizes, the building itself is still a small skyscraper). Therefore looking back I would not want to work again on small floors, in a cubicle as well.


  7. Helpful (1)

    "Investment Specialist - good entry point for financial career. Not long-term choice"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Investment Specialist in Jacksonville, FL
    Former Employee - Investment Specialist in Jacksonville, FL
    No opinion of CEO

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

    Pros

    Great training program to obtain Series 7 and Series 63 licenses.

    Full salary during training

    Always hiring new training classes

    Lots of resources provided during training (ex. study books, daily live interaction classes)

    Generally great people you work with (aside from managers, can be very clique-y & lots of favoritism)

    Lots of different jobs generally available to move into (but lots of favoritism when promotions are considered.)

    Free lunch sometimes provided (during very busy/high call volume days)

    Good benefits package

    Cons

    Call center environment (some may like it, some may not)

    Tethered to a phone for 8 hrs a day

    Very noisy work environment (very large open floor with dozens of staff)

    HEAVILY micromanaged (scheduled breaks, lunch, monitored calls & regular critiques on slightest things)

    Very difficult to get time off unless requested at least months in advance.

    Managers always seem "too busy" to help unless severe situation - very much baptism by fire approach

    High pressure to always get referrals and deepen every client call - even if clients are irate...which could cost you quarterly bonuses if you don't always ask. Managers only care if you get 2 referrals a day. Period.

    No metrics for retention of clients (incentive wise, they put greater value on bringing in $5k of new money than keeping a $1 million+ relationship)

    Advice to Management

    Adhere more to the supposed core values of the company - doing what's in the best interests of the clients, not constantly pushing sales or "deepening" and having better understanding on when it's appropriate to ask those types of questions and not penalize employees when it's not warranted in the context of the conversation.

    HAVE METRICS FOR RETENTION! There's more incentive for an employee to badger an angry client about his $5000 outside account than there is for retaining a client worth $1 million+ who wants to leave. Wow

    Have better distinction between sales roles and service roles (everyone has some kind of sales quota - don't make everyone a sales person).

    Managers play favoritism alot and this is often detrimental to good employees who don't suck up to their managers.

  8. Helpful (2)

    "Not much bad to say"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Merrill Lynch full-time

    Pros

    Free commission trading in brokerage accounts. Daycare assistance. Free Bank of America checking account. Can literally apply anywhere in Bank of America.

    Cons

    You can only apply somewhere else after you’ve been in your department for a year AFTER obtaining your series 7 and 6. Which on average is 6 months. So you have make that low pay for a year and a half to get a new position. Management acts like they are to busy to help you when you need their approval for transactions. Once you get your license they give you like a .20C raise.


  9. "."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Approves of CEO

    I worked at Merrill Lynch full-time (More than 5 years)

    Pros

    Great place to work with food mgmt

    Cons

    Went through financial crisis. Tough time but came out of it


  10. "Specialist"

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

    I have been working at Merrill Lynch full-time

    Pros

    Interesting clients and interesting work in PBIG

    Cons

    too much bureaucracy and too many empty suits in middle management

    Advice to Management

    streamline processes; cut middle management; pay for high level talent - too many mediocre managers


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