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Merrill Lynch
 

Flexible Benefits at BAML in London

zapatillas's picture
(Chimp, 2
 
Points)
 on 4/25/13 at 4:20am

Hi monkeys,

I will soon be joining BAML IBD for a grad position in London.
Do you know how the flexible benefits program looks like? Especially, is a private health insurance a part of that, and does the bank pay for it?
Unfortunately, the baml helpdesk could not give me specific information.

Thank you guys

BofA ML Sophomore programs

swingingfromthechandeliers's picture
 
Points)
 on 4/15/13 at 2:52pm

Freshman, non-target.

I looked at the programs for sophomores at a bunch of BB's. I really like the ML one because its both S&T and IB (although I want to go into S&T/ER). Does anyone have any idea of how these programs work and what they are like? The description on the website is very broad and doesn't give me any idea of what an intern actually does.

I have heard they are for more "diverse" groups of applicants (which I am not.)

Also, anyone who has done it, what were the interviews like?

Freshman College Summer Internship with Management Firm? Yes or No?

ogden.spencer's picture
RE
(Chimp, 2
 
Points)
 on 2/25/13 at 8:42pm

Hello Everyone,

I recently met a classmate that is older and is the floor manager at a Management Firm. They manage a bunch of different companies for some "rich old guy," (this is what my classmate told me.)

I told him I was looking for a summer internship and he said that he could line me up for an unpaid internship at his office, (he said he would vouch for me.)

He said I would work long hours doing somewhat trivial work.

My question to WSO is whether or not I should go ahead and take his offer or if I should try to find a paid internship or even an internship that is dealing more with financials. I've been looking to apply to a local Merrill Lynch branch as well as some smaller financial firms in my area.

Merrill Lynch

derpster's picture
 
Points)
 on 1/3/13 at 7:57pm

I have been going through alumni of my school via LinkedIn. I have found many "Vice President-Investments at Merrill Lynch" and "Sr. Vice President"s that work for Merrill Lynch.

But, to my understanding, it's actually considered BAML, correct? So, how do I know if these guys are part of IB, and not advisors?

Sorry if this is a dumb question, I just thought ML no longer have a pure IB division?

Just curious b/c I am not interested in PWM or advising and don't want to waste these people's time but trying to reach out to them only to find that they work in a different division.

Merrill Lynch or Ameriprise

TripWest's picture
EN
 
Points)
 on 11/15/12 at 4:10pm

Usually I would consider this to be a no brainer. I would pick Merrill Lynch over Ameriprise 99/100 times. However, in this particular situation, I'm not quite sure. Suppose you want to get into PWM, which choice would you choose from the below:

1. Merrill Lynch's Practice Management Development (PMD) program

or

2. Ameriprise, but working under an advisor with $500+ million in AUM?

Bank of America Job Posting | S&T |

NikitaN's picture
O
(Baboon, 167
 
Points)
 on 11/1/12 at 12:27pm

Recently saw this job posting at BoA ML. Its for 2013 Global Sales & Trading Analyst Program. All is fine, except the job description at the end:

Hours Per Week:40.00
Full / Part-time: Fulltime
Shift: 1st Shift

Though it was funny :)

http://careers.bankofamerica.com/JobDetails.aspx?S...

4th and Goal: Leaving It All on the Field

Edmundo Braverman's picture
ST
(Human, 14,368
 
Points)
 on 10/4/12 at 9:40am
4th and Goal.jpg

Many of you have heard me say "leave it all on the field" when it comes to living your life, and by that I mean that you should never go to your grave with the regret that you could've done something more or that you didn't expend every possible ounce of effort in the pursuit of your dreams. So today I'd like to share with you the story of Joe Moglia, the former CEO of TD Ameritrade, as it's told in the new book 4th and Goal: One Man's Quest to Recapture His Dream.

Moglia's dream in life was to become a head football coach in college ball. To that end, he'd spent 16 years coaching at various levels, reaching his peak as the defensive coordinator for Dartmouth in 1981. He looked like he was on the right path, and the defending champ Miami Hurricanes offered him a spot on their defensive staff in 1983. But life got in the way. His wife divorced him, he had four kids to feed, and he ended up having to move back in with his parents. He knew he couldn't make it on a coach's salary (especially back then), so at 34 years old he entered the Merrill Lynch training program.

Imagine having a 34-year old guy in your analyst class and that's about what it was like for Moglia. He was a good decade older than everyone else, and he stuck out like a sore thumb. He had no money for Brooks Brothers suits, so he looked like he stepped out of the pages of the J.C. Penney catalog. But his intensity was second to none, and in 17 years with Merrill Lynch he rose to take over their entire investment products division, their insurance company, and their 401(k) and middle-market businesses. Then he left to become CEO of TD Ameritrade.

ML Internship, How to Answer This Question?

evilmindbulgaria's picture
AM
(Baboon, 123
 
Points)
 on 4/10/12 at 1:52pm

So I'm a sophomore at a semi-target school, and emailed local branches of ML for an internship. I just got a response from one branch manager's assistant. She asks me if I want to do it for credit or want a paid internship. Apparently, the way the process works is that she forwards my resume in the office and tells them I am looking for a paid internship or one for credit (depends on my answer) and if anyone is interested, they will contact me. I wanna get paid, but at this point I need the experience more, so I am willing to work for free as well. However, I don't wanna kill my chances of getting paid. How do I answer her? Any advice is appreciated. Thanks!

Phone Interview for ML PWM

ChrisHansen's picture
(Gorilla, 533
 
Points)
 on 2/22/12 at 12:47pm

Before you throw shit at me, yes I have searched this topic

I have a phone interview coming up with I believe a VP for a regional Merrill Lynch headquarters. I'm applying for wealth management as all freshman do and was wondering what to expect from the interview. He hasn't said much about the position being particularly competitive but let's assume it is. There isn't much of a competitive air from this guy and it seems to be more about what I am interested in, etc. but I would like some insight from people who have been in a similar situation. Since it is for wealth management should I real over their website and know exactly what they do?

Sorry if I sound retarded but this is my first interview ever

BAML Sophomore vs UBS President's Internship

Aphamos's picture
IB
 
Points)
 on 2/15/12 at 10:23pm

Hi all,

I have offers from both of these firms for their sophomore programs and I obviously need to pick one (I'm from a target). Here's a breakdown of each:

UBS President's: Four 2-week rotationals, each in a different area of the investment bank (IBD, S&T, group tech, office of the COO, etc).

BAML Global Banking and Markets: Two 5-week rotationals, 5 weeks in IBD and 5 in S&T.

My questions:

-Which would offer me the best experience?
-Which would look best on the resume?
-Which would offer the best platform/recognition in case I wanted to recruit next year?

Thanks for the help!

Merrill Lynch PMD Program

linsanity's picture
(Chimp, 4
 
Points)
 on 2/11/12 at 8:53pm

Can someone give me some insight on the program? I did some research online and am familiar with its high turnover, as well as the competitive nature of the program. What I would like to know is whether or not the job will present good exit opportunities, and whether or not having the experience on your resume is good enough to be considered as a candidate for a top 20 MBA school.

Thanks!

Job Search: Down to the wire...should I settle?

kooks23's picture
(Chimp, 7
 
Points)
 on 12/22/11 at 7:17pm

Looking for FT post graduation. I need some advice, I had various opportunities to work on an ops desk in many BBs...but I don't want to settle for a back office job. It's too hard to get out and not many exit opportunities. What do you think, should I settle? I strive to become a PM one day. I'm applying to multiple AM analyst programs at BBs, hedge funds, mutual funds. I'm from a non-target, 3.8 GPA, various internships (JPM, GS, ML), graduated top of my class as a first generation college student. Asked to stay on at two of the firms I interned with, but its not the asset class or area I want to be in. Thoughts?

BAML Study Abroad Superday--12/9/11

soccrkid8's picture
(Monkey, 37
 
Points)
 on 12/11/11 at 7:30pm

Hey guys,

I just participated in the study abroad superday for BAML this past Friday. HR said that we would hear back from them by this upcoming Friday about the decision. However, I've heard that BBs often let you know the day of. Has anyone heard back yet? Also, when should I be concerned that I did not get an offer and might be on the waitlist/rejected? Thanks!

UBS and Merrill Lynch Phone Interviews

uamaukeeaokaaina's picture
(Chimp, 4
 
Points)
 on 10/8/11 at 2:12am

Aloha everyone.

Next Monday, I have two phone interviews: one with UBS and the other with Merrill Lynch, both in PWM. I met my contacts through my career services director on campus, and they both know I'm looking for an internship. I have a couple of questions.

First, what kind of questions should I expect from these interviews? Should I prep for them as if they're informational interviews, or prep for them as if they're job interviews?

Please give me advice on ML PWM

Gordan Bateman's picture
IB
(Monkey, 57
 
Points)
 on 8/11/11 at 6:57pm

I have a ML PWM internship setup for this fall, but my school is not wanting to give me credit for it. ML requires academic credit to be given for their internships, which seems to be the norm after searching WSO.

Is there any way around this? Has anyone ran into this problem before?

HCA IPO Rises 4% on Day Dow Falls 228 Points

BankingRUs9's picture
IB
 
Points)
 on 3/11/11 at 12:50am
hca.jpg

HCA Holdings rose about 4.0% in its first day of trading. This was very impressive, considering the Dow Jones Industrial Average fell 228 points in the same day (3/10/11). The Dow fell in response to increasing jobless claims, a larger U.S. trade deficit, a larger Chinese trade deficit, and a lower GDP revision in Japan on 3/9/11. Luckily, HCA was unaffected, which reflects both the strength of the company and its balance sheet. HCA represents such a large share of the U.S. hospital industry, that institutional money managers probably could not refuse to purchase the security for their portfolios. HCA's public competitors include CYH - Community Health Systems and THC - Tenet Healthcare Corp.

Deutsche Bank Discriminates Against Indian Rainmaker

BankingRUs9's picture
IB
 
Points)
 on 3/10/11 at 10:21pm
anshu.jpg

It is March 10, 2011, and today I read that a German bank is discriminating against a top banker, a "rainmaker," because he is Indian. Anshu Jain is a 48 year old head of investment banking at Deutsche Bank and has generated hundreds of millions of Euros in fees for the bank since 1995.

Anshu was born in 1963 in the humble town of Jaipur, India and later studied economics at Shri Ram College of Commerce at Delhi University. He earned a bachelor's degree with honors in 1983 and then pursued a Masters in Finance at UMASS Amherst. He then started as an analyst in derivatives research at Kidder Peabody (now UBS), from 1985 to 1988. Anshu joined Merrill lynch in 1989, where he started the first hedge fund coverage group.

Looking for any entry-level job, OTHER than FA

bernie madoff's picture
O
(Chimp, 13
 
Points)
 on 2/19/11 at 2:32am

So...I am a somewhat recent Marketing graduate (LOL, I KNOW) who is interested in looking for entry-level finance positions. id rather not go the FA route as I do not have a huge Rolodex of wealthy individuals i can sell to. id like to get into client relationships/portfolio administrator type positions.

i applied the other day to Neuberger, have yet to hear back and i doubt i will. what is some advice you can offer? i am beginning to read some books (the Intelligent Investor, think and grow rich, etc.) and trying to learn as much as possible about the industry. it just seems improbable at this point. i try to network on LinkedIn, apply to jobs constantly, etc. ANY help would be 150% appreciated. thank you.

BoA Merrill Lynch vs. Credit Suisse?

NDjunior's picture
(Chimp, 5
 
Points)
 on 2/17/11 at 3:38pm

I'm a junior at Notre Dame interviewing for sales and trading internships at Bank of America Merrill Lynch and Credit Suisse. Is there any real difference between the two firms in terms of prestige, pay, etc., or would the two programs be pretty much considered the same?

Booz Allen Hamilton Advising Bank of America on Wikileaks

brotherbear's picture
PE
 
Points)
 on 1/3/11 at 7:29pm

Has everyone seen this? Looks like BOA is playing strong defense.

http://www.nytimes.com/2011/01/03/business/03wikil...

Millions for Billions

Edmundo Braverman's picture
ST
(Human, 14,368
 
Points)
 on 12/29/10 at 6:00am
merrill-lynch.jpg

Everyone has a part of their job that sucks, no matter how satisfied they are overall. When it comes to my work here at WSO, this is the part of the job that sucks. After two and half years, the most tiresome thing I have to write about is the stupid shit Wall Street firms have done to contribute to or exacerbate the 2008 crisis. If you want to know the truth, the only reason I still write about this stuff is the sense of obligation I feel to you guys to make you aware of some of the pitfalls of the business in the vain hope that at least some of you will be able to avoid them.

In this particular case, Merrill Lynch are the knuckleheads du jour. In the interest of full disclosure, I'll tell you that I've always had a personal ax to grind with Merrill, and it was a Merrill VP whom I targeted with my dumpster diving campaign in the Playboy article. Over the years, though, Merrill was one of the better managed and successful firms, and my problem with them was primarily their refusal to hire a young Eddie Braverman.

Anyway, here's the latest.

**Official 2011 IB Recruitment Thread**

brooksbrotha's picture
 
Points)
 on 8/18/10 at 9:00am
images.jpeg

Alright for those of us that are about to begin our final year (next week...*gasp*) in college and are working on recruitment for IB, I figured I'd make a thread so we can keep each other in the "know" as to who's recruiting when and what positions. This is for USA positions as well as UK.

Also, for anyone that's already in IB that works at some of these firms that are recruiting and knows the schedules, feel free to post.

I know DB and CS in London are recruiting.

Wells Fargo Investment Banking applications go from September 20th-September 25th.

JPM Chase applications are also start in September. Not sure as exact dates but a recruiter told me "beginning of September".

This is for FT recruiting, not SA. Also, please don't post your resume for people to check.

Ex Merrill Suing after receiving only 2.3 mil

m2m's picture
IB
(Chimp, 6
 
Points)
 on 6/12/10 at 4:17am

http://preview.bloomberg.com/news/2010-06-11/ex-me...

So he only received 20% of his previous years bonus because he got fired by Merril and now is suing for not getting enough.

Im sorry, but 2.3 million should be enough of a discretionary bonus, especially when its basically a severence package, for someone to stfu.

ML (FA) Practice Management Development Program (PMDP)

Young N Hungryy's picture
ST
(Chimp, 11
 
Points)
 on 6/11/10 at 12:36am

Financial Advisor Practice Management Development Program (PMDP)
Merrill Lynch Global Wealth Management Trainee

Does anyone have any insight on the interview process, salary, best way to attain position, or what the program is actually like once you get in. Any help would be greatly appreciated!

Fall recruitment/ informational interviews?

californiastdreamin's picture
AM
(Monkey, 40
 
Points)
 on 6/1/10 at 4:21am

i had a few questions that were out of my curiousity and what goals i should set for myself in the future:

1. i was wondering what are my career options in teh future if i have the given experience: independent investment counsel firm, pwm @ Merrill lynch, and probably corporate cash management @UBS (i come from a top tier college with a gpa over 3.6)

2. i will be speaking with alot of alumni within the sumer just to have quick informational interviews about their career endeavors, etc. what questions should i ask? how can i use these situations to network but also open a job possibility in the ffuture?

3. if i would like to someday work in new york or cali how would i got baout recruiting if i come from a school in the midwest and most of the recruitment is specified for Chicago, etc?

i know this is a lot but it would really help me out!

thanks!

Corporate Cash Management @ UBS

californiastdreamin's picture
AM
(Monkey, 40
 
Points)
 on 6/1/10 at 12:27am

So i have an interview on wednesday for UBS with their corporate cash management group. I understand the general idea of what the group entails however I was wondering if any of you guys had any experience/ knew more in detail of what this group specializes/ specifically does (in particular an investment associate/ client associate)\

furthermore, what skills shouldld i try to emphasize on? (i have had experience at an independent investment counsel (pwm essentially) and will be interning pwm @ Merrill lynch). any advice would be great!

this would really help, and I would really appreciate it !

Thanks.

Guggenheim Partners Performance vs Merrill Lynch PWM

californiastdreamin's picture
AM
(Monkey, 40
 
Points)
 on 5/20/10 at 8:35pm

I have received two offers for a summer internship for this upcoming summer. One is Merrill Lynch and is unpaid--it seems like a great opportunity with a structured intern program (allowing interns to visit the Fed, etc. and holding weekly classes/educational forums for interns). However, it will cost me $800 to enroll for partial credit, which is required. The other offer is at Guggenheim Partners Asset Management Performance Team. I will be mostly responsible for performance work and transitioning/entering performance details in compliance w/ GIPS. However, this internship pays $15/hr. I have to reply to them both by tomorrow morning and was wondering if you had any sort of advice or thoughts on my situation.

Please, anything will help. What would you do? I am leaning towards Merrill, but still distraught.

Thanks

Merrill Lynch PWM internship

Peter_27's picture
ER
 
Points)
 on 5/10/10 at 5:29pm

I got an interview offer from Merrill PWM for an internship position, but I am not sure I want to follow up because I am not sure if they will accept international students. Does anyone know what their policy is for international students seeking internships ?

This is just my back up though, as i currently have two pending ibanking offers (in the process of trying to finalize the details with the CEOs).