Merrill Lynch Reviews | Glassdoor

Merrill Lynch Reviews

Updated September 19, 2017
2,072 reviews

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2,072 Employee Reviews

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Pros
  • They promote and encourage work life balance (in 97 reviews)

  • Friendly colleagues; Dynamic environment; Was offered rotational program so I learned a lot of stuffs (in 73 reviews)

Cons
  • Aggressive work life balance, highly dependent on team structure (in 52 reviews)

  • Long hours; work itself is not very interesting (in 84 reviews)

More Pros and Cons

  1. "Merrill Lynch Wealth Management Platform"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Great work/life balance, benefits and hours

    Cons

    Very political, bureaucratic, flat lining pay


  2. "Retirement Benefits CSR"

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

    I worked at Merrill Lynch full-time

    Pros

    Benefits, team environment, ability to grow with the company

    Cons

    sometimes there is micromanagement within the dept.

  3. "Registered Client Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Good benefits. Pay for Series 7 and 66. Good hours, never really overtime. Additional compensation from your advisors if they are generous. Many locations.

    Cons

    Absolutely no career development. Monotonous tasks. Glorified assistant. Dead end road job. Could be very little pay if your advisors aren't generous. Absolutely do not recommend if you are not looking for an administrative role. A lot of paperwork. A lot of compliance rules. Little to no training.

    Advice to Management

    Management should do a better job with finding out a Client associate's expectations before matching them up with multiple individual advisors or a team of advisors. Management should also care more about their employee's needs and career development rather than hitting their numbers.


  4. Helpful (3)

    "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.


  5. "Product Specialist I"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Merrill Lynch full-time

    Pros

    Great place to work. Mobility and great benefits.

    Cons

    Red tape with a big company


  6. "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


  7. "Assistant vice president"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in Dublin, Co. Dublin (Ireland)
    Current Employee - Assistant Vice President in Dublin, Co. Dublin (Ireland)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Merrill Lynch full-time (More than 5 years)

    Pros

    Great benefits and work life balance is getting better. Massive opportunities to work on every possible tech stack available.

    Cons

    Still cost cutting after years of reducing expenses. Sadly this will affect bonus and pay rise.

    Advice to Management

    Keep improving, you have improved a lot over the last few years but there is still more to do.

  8. "Assistant to the Regional Managing Director"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    compensation, work life balance, flexibility, learn a lot, smart diverse people

    Cons

    no career growth, politics, pigeon holed into administrative roles


  9. "Client Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Houston, TX
    Former Employee - Anonymous Employee in Houston, TX
    No opinion of CEO

    I worked at Merrill Lynch (More than 3 years)

    Pros

    Good coworkers, Flexible hours with the team I worked with.

    Cons

    Management was a bit overbearing. Showed favoritism.


  10. "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.


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