Anyone here work for/close to someone who works for Merrill Lynch

[acehistr8]

Have an interview next week for a Financial Advisor position in their Private Client Group. Have a good handle on what the position entails, but no idea of the pay. All I could get out of the woman setting up the interview is that it is base plus comm during the training. Have had a sales position before, would like to get an idea of what they consider a reasonable base salary for an MBA in these types of positions.

Thanks.

 

[rrc]

Ace, I have a friend who has worked for them in Chicago and now NY. I'll e-mail him your question and get back to you as soon as he replies.

 

[acehistr8]

Thanks rrc, I have an MBA and 6 years consulting experience. My understanding was that the base would be partially contingent on your work experience. Just trying to get all the possible info I can before going in, the more the better. Appreciate any advice he could offer.

 

[Doughboy]

Ace,

If you want, shoot me an e-mail from Jack and I might be able to give you some advice. I don't work at Merrill, but I am a financial advisor and would be happy to give you some insite into the job. Just remember, the job is not all picking stocks and funds, it is a sales job and your primary focus will be finding clients.

 

[acehistr8]

Drop me a line through my web page

 

[Goiing Gone]

Ace ....

Good friend of mine worked for 5yrs at ML ,started with series 7 and 8 licences, Bachelors and 3yrs exp at another firm...Has gone out on his own now but as Dboy said it's all about building a clientele...this was 5yrs ago but made around 40 to start with all $$ incentives geared at production of customer portfolio...He was very good and made alot of $$ on incentives...probably not much help now but fwiw...GL on your interview

 

[acehistr8]

gg, his base was 40, plus commissions on top of that? At a firm like ML that is definitely a structure I could live with.

 

[Goiing Gone]

Ace , high 30s to 40, I'm trying to get in touch with him to get more specfs......I know the Licences really helped out his initial deal, I don't know what you hold....Getting clients is tough especially in this Market, but from your schooling and exp you should do well, but have to have those Lic as I'm sure you know, when I talk to him I'll ask for specifics......I'll check to make sure that he was a "financial advisor" as they had a different name for his position back then but I would assume it's the same thing...