Merrill Lynch Reviews | Glassdoor

Merrill Lynch Reviews

Updated August 17, 2017
664 reviews

Filter

Filter


3.0
StarStarStarStarStar
Rating TrendsRating Trends
Recommend to a friend
Approve of CEO
Merrill Lynch President & CEO of Bank of America Brian T. Moynihan
Brian T. Moynihan
156 Ratings

664 Employee Reviews

Sort: PopularRatingDate

Pros
  • They promote and encourage work life balance (in 94 reviews)

  • Friendly colleagues; Dynamic environment; Was offered rotational program so I learned a lot of stuffs (in 72 reviews)

Cons
More Pros and Cons

  1. "Go into PMD program with your eyes wide open"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor Trainee in Hartford, CT
    Former Employee - Financial Advisor Trainee in Hartford, CT
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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

    Pros

    Firm has great public reputation. Salaried compensation while studying for licenses. Great medical benefits and 401(k) match. Full service investment firm, which enables employees to learn a broad array of investments. Good technology and platforms to manage day-to-day financial advisor business.

    Cons

    The PMD sole practitioner hurdles are near ridiculous and unobtainable for the majority of new advisors. The TFA (team financial advisor) track is a better alternative in terms of longevity and making through the entire program. However, if interviewing for that position, know that the cohesiveness of the team is the most important part of your individual success. I have seen some really poor teaming partnerships, certainly more than cohesive ones.
    Some other cons: once licensed, the PMD program training is 95% about sales. There is very little training in products and service. This reflects the focus of the program. If you intend to be successful, you will not be able to spend much time actually working with the clients you bring on board. Most of your time will need to be prospecting, selling and more selling. This is an uphill battle when ML has a new client threshold of >$250K.
    Also, there is more and more pressure from Bank of America to provide referrals to lending and banking solutions. They are now tying it to compensation and there quotas to be met. A lot of senior advisors complain about this but it's clear that this will be the continuing trend. They increase the referral goals every year.

    Advice to Management

    Invest more into your PMDs. Placing them in branch offices, as opposed to market offices, really limits their training opportunities. It can be isolating and their experience is largely dependent on the attitudes and management of the resident directors.


  2. "good not great"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Registered Phone Representative in Pennington, NJ
    Current Employee - Registered Phone Representative in Pennington, NJ
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    good entry level opportunities
    company pays for licensing and study materials

    Cons

    lot of wages based compensation jobs for supposedly professional positions
    lots of red tape

    Advice to Management

    hire less contractors. they tend to screw things up and cause head aches for the permanent employees

  3. "Investment Banking"

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

    I worked at Merrill Lynch full-time

    Pros

    Good brand name and learn a lot on the job

    Cons

    It is a highly competitive culture.


  4. Helpful (1)

    "Registered Client Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Registered Client Associate in Chicago, IL
    Former Employee - Registered Client Associate in Chicago, IL
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Merrill has good benefits and good pay. Work hours are reasonable. There is a lot of opportunity for growth.

    Cons

    Managers tend to encourage or excuse inappropriate behavior by male advisors. It is a very male dominated culture still. Merrill needs to evolve, as most other industries have, when it comes to being a comfortable environment for all who work there.

    Advice to Management

    Management should encourage a culture of respect. There should also be a program for advisors to learn to manage people since many of them end up have teams of people working directly for them. Many advisors do not realize it is their responsibility to manage their team effectively.


  5. "Ops Mkt Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Ops Analyst in Chicago, IL
    Current Employee - Ops Analyst in Chicago, IL
    Recommends
    Positive Outlook
    Disapproves of CEO

    I have been working at Merrill Lynch full-time (More than 10 years)

    Pros

    The best reasons are they come up with new and inventive ways to appeal to their employees.

    Cons

    When you have worked in one area for too long they look at your ideas and antiquated. They only refer for promotion those who brown nose the most.

    Advice to Management

    Review your 10+ year employees consider loyalty salary consideration or risk losing your best talent.


  6. "Financials Advisor"

    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

    Pros

    Great education and resources

    Cons

    Tough industry that is over regulated. Many older advisors are out to pick off younger advisors.

    Advice to Management

    Fix the structure for new advisors building their business.


  7. "Great benefits and perks"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Washington, DC
    Current Employee - Anonymous Employee in Washington, DC

    I have been working at Merrill Lynch full-time

    Pros

    Great benefits and office perks (meals, happy hours, etc). Overall office culture was good.

    Cons

    Inflexible hours. Repetitive work. Not a lot of room for advancement.

  8. "Manager"

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

    I worked at Merrill Lynch (More than 10 years)

    Pros

    - Work is enjoyable
    - Teamwork is key

    Cons

    - Culture changed once Merrill Lynch was acquired by Bank of America

    Advice to Management

    Chill; it's not brain surgery


  9. "Client Associate"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Merrill Lynch part-time

    Pros

    great benefits, holidays,vacation and sick time. Maternity and paternity leave is amazing-4 months paid in full

    Cons

    hard to move up unless you have a rare boss who will help you


  10. "Summer intern technology group"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Tech in Chicago, IL
    Former Intern - Tech in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Connections network growth mentorship. Decide what you want to do early and it can set you up for a solid future in what you need

    Cons

    The work is hard. Loss of sleep. May lose some friendships in the process but you need to sacrifice something to gain something.

    Advice to Management

    Nothing. Keep doing what you doing.


Showing 664 of 2,389 reviews
Reset Filters