Merrill Lynch Internship

 
Merrill Lynch Internships
4.33 out of 5

19 review(s)
Headquarters:
New York, NY
Employees:
50,000
Annual Interns:
230
Profile Views: 11906

Merrill Lynch

Internship Overview
Internship Rating (Avg): 4.33 out of 5
19 Intern Reviews
Avg Merrill Lynch Intern Salary: $17.17 per hour
22 Intern Salaries
Did you intern at Merrill Lynch? Add Salary or Add Review
 

Merrill Lynch Internship Program Information

Merrill Lynch offers paid internships with a focus on finance, economics, business, and accounting students. Merrill Lynch is now part of Bank of America, therefore the internship recruitment process runs through Bank of America HR. Internships are focused on investments and wealth management.

About Merrill Lynch

Merrill Lynch is now part of Bank of America. With the acquisition, Bank of America has become: the largest brokerage in the world, with more than 15,000 Financial Advisors and approximately $2.2 trillion in client assets; a leading provider of global corporate and investment banking services, including commercial lending, global high-yield debt, global equity and global M&A; and a global leader in wealth management, private banking and retail brokerage. This means that HR processes have been combined and now Merrill Lynch internships are focused around wealth management opportunities. Merrill Lynch is one of the world’s premier providers of wealth management, securities trading and sales, corporate finance and investment banking services. Working with our clients as strategic partners, we create and execute winning solutions, which address our clients’ most pressing strategic, financial and investment needs—anywhere in the world. We stand apart by building and maintaining solid partnerships with clients. Merrill Lynch places our client relationships first and is proud to conduct our business based on five unwavering principles: Client Focus, Respect for the Individual, Teamwork, Responsible Citizenship, and Integrity.

Internship Resources & Links

Merrill Lynch Internship & Job Search: here
22 Merrill Lynch Intern Salaries
Global Wealth Management Intern: $15/hour
Summer Analyst: $33/hour
Equity Research Summer Analyst: $23/hour
Financial Advisor Intern: $15/hour
Credit Finance Summer Analyst: $27/hour
Wealth Management Intern: $16/hour
Investment Banking Summer Analyst: $34/hour
Global Wealth Management Intern: $16/hour
Global Wealth Management Intern: $14/hour
Wealth Management Intern: $16/hour
Wealth Management Summer Intern: $13/hour
Global Wealth & Investment Management Intern: $14/hour
Summer Analyst Intern: $13/hour
Private Banking Intern: $18/hour
Financial Planning Intern: unpaid
Global Wealth and Investment Management Intern: $12.50/hour
Global Wealth Management Intern: $12/hour
Wealth Management Intern: $12/hour
Merrill Lynch Wealth Management Intern: $12/hour
Wealth Management Summer Intern: $15/hour
Wealth Management Intern: $15/hour
Wealth Management Intern: $15/hour
19 Merrill Lynch reviews posted anonymously by former interns:
"Portfolio planning, retirement planning, and fund meetings"
Position: Global Wealth Management Intern
Location: New York, NY
Pay: $15/hour
Duration: 10 weeks
Review posted on 2/25/2012
I gained real world experience:
1
2
3
4
5
Strongly Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Agree
Overall, I was satisfied with my internship:
1
2
3
4
5
Agree

Pros:

Great internship with Merrill Lynch wealth management group in the big apple. I learned a ton about portfolio mgmt, risk analysis, talking to a client, how to set client goals. Also, it was interesting hearing the mutual fund guys pitch.

Cons:

Wealth management isn't the same pace as ibanking or even sales and trading. It's rarely just about finance.

Advice for other students:

This internship changed my perspective on finance. I use to be 100% crazy over landing an invesment banking job. Now, I'm re-thinking things.
 
"Equity research at BofA Merrill Lynch"
Position: Equity Research Summer Analyst
Location: New York, NY
Pay: $23/hour
Duration: 12 weeks
Review posted on 1/14/2012
I gained real world experience:
1
2
3
4
5
Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Strongly Agree
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

- Worked on BofA Merrill Lynch company models. I updated models to reflect quarterly earnings.
- Comparison models with my boss that would look at several different companies in the same industry.
- Initiated research with my team on a few stocks. I really enjoyed getting the first crack as some analysis.
- Great boss.

Cons:

- There were some times where I didn't have much to do. I think that's kind of expected in these types of internships.

Advice for other students:

I'd do investment banking or research.
 
"wealth management internship at Merrill"
Position: Financial Advisor Intern
Location: New York, NY
Pay: $15/hour
Duration: 12 weeks
Review posted on 1/8/2012
I gained real world experience:
1
2
3
4
5
Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Agree
The work I performed was interesting:
1
2
3
4
5
Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Neutral "OK"
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

At Merrill Lynch, I basically assited brokers with client portfolio management. I analyzed portfolios, helped out with marketing, and proposed financial products to help manage portfolio risk.

Cons:

Assistant type role. I also think the broker role is a lot about marketing and sales that it is about finance.

Advice for other students:

Know about asset allocation and risk management.
 
"Outstanding finance experience at Merrill"
Position: Credit Finance Summer Analyst
Location: New York, NY
Pay: $27/hour
Duration: 12 weeks
Review posted on 1/8/2012
I gained real world experience:
1
2
3
4
5
Strongly Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Strongly Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Strongly Agree
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

- Merrill Lynch has very smart finance people that I learned a ton from.
- Culture and willingness of co-workers to teach.
- Balance sheet reporting experience as I produced daily reports for traders and mgmt.
- Experience in mark to market testing analysis for commercial paper products with my team.
- Aided in reporting for money market products.
- Paid pretty well.

Cons:

no

Advice for other students:

Don't be scared to ask traders questions, you will learn a ton.
 
"Market research and client strategy at Merrill"
Position: Global Wealth Management Intern
Location: San Francisco, CA
Pay: $16/hour
Duration: 12 weeks
Review posted on 12/18/2011
I gained real world experience:
1
2
3
4
5
Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Agree
The work I performed was interesting:
1
2
3
4
5
Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Neutral "OK"
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

- Client presentation.
- Enjoyed the equity and ETF research that I was assigned.
- Merrill Lynch seminars were interesting and informative.
- Great manager.

Cons:

none really. Not sure this is going to be my career path.

Advice for other students:

I think what you get from Merrill Lynch internship is completely
 
"markets and clients"
Position: Global Wealth Management Intern
Location: New York, NY
Pay: $14/hour
Duration: 12 weeks
Review posted on 12/7/2011
I gained real world experience:
1
2
3
4
5
Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Agree
The work I performed was interesting:
1
2
3
4
5
Neutral "OK"
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Agree
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

- My Merrill Lynch group allowed me to learn by attending client seminars.
- Evaluated mutual funds.
- Manager was open to recommendations.

Cons:

Lots of account mgmt tasks. Not strategic, but paperwork.

Advice for other students:

My advice is that if you are considering a career in wealth management, you should definitely get an internship at a place like Merrill. You'll really get to see the business.
 
"Financial experience"
Position: Wealth Management Intern
Location: New York, NY
Pay: $16/hour
Duration: 10 weeks
Review posted on 12/6/2011
I gained real world experience:
1
2
3
4
5
Neutral "OK"
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Strongly Agree
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

- Analyzed mutual funds and fixed income products as potential client investments.
- Familiarity with Morningstar reports.
- Monitored and looked into IPO distributions.

Cons:

Prospecting new clients is kind of a painful job.

Advice for other students:

Try to get an investment banking internship after junior year.
 
"Worked on client's portfolio with Merrill Lynch advisors"
Position: Wealth Management Summer Intern
Location: Boston, MA
Pay: $13/hour
Duration: 12 weeks
Review posted on 10/18/2011
I gained real world experience:
1
2
3
4
5
Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Neutral "OK"
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

I learned the wealth management business at Merrill Lynch over the summer. The brokers I worked with were great guys and gave me exposure to their day in and day out work. I was able to sit in on client meetings and assist in portfolio reviews. It was fascinating to hear what clients have to say in the economy. On the job, I research fixed income/mutual funds, generated portfolio performance reports, and assisted in pitch decks for perspective clients.

Cons:

The financial advisory world is all about relationships and selling.

Advice for other students:

Go open up an online brokerage account and trade.
 
"Financial Advisory Business Unit at Merrill"
Position: Global Wealth & Investment Management Intern
Location: New York, NY
Pay: $14/hour
Duration: 10 weeks
Review posted on 10/17/2011
I gained real world experience:
1
2
3
4
5
Strongly Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Neutral "OK"
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

- Merrill allowed me to learn and gain exposure to the wealth management business.
- Developed a weekly report for my Merrill Lynch branch on new client referrals and perspective client pipeline. This was essentially a sales document.
- Access to ML internal sales and trading desk.
- Loved the boss and other brokers. Lots of solid office humor.
- Exposure to portfolio mgmt. It seems to be all about risk aversion with this economy.

Cons:

I'd rather be on a trading floor or investment bank than wealth management.

Advice for other students:

If you are going to test the waters of wealth management, do it early.
 
"Wealth management group at Merrill"
Position: Summer Analyst Intern
Location: Atlanta, GA
Pay: $13/hour
Duration: 8 weeks
Review posted on 10/4/2011
I gained real world experience:
1
2
3
4
5
Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Neutral "OK"
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Agree
Overall, I was satisfied with my internship:
1
2
3
4
5
Agree

Pros:

- Learnded about portfolio mgmt at Merrill Lynch's Atlanta location.
- Brokers taught me the ropes of the wealth management business and how to analyze different trades.
- Risk is huge these days and I worked with my broker team to find any risk in client portfolios.
- Estate planning exposure.
- Merrill Lynch is a good brand to have on the resume.

Cons:

- Some cold calls to potential clients.
- Not investment banking.

Advice for other students:

If you are going to spend a summer doing private wealth management, try to make it your sophomore year so that you can get in on the resume for investment banking interviews junior year.
 
"Wealth management strategy with ML"
Position: Private Banking Intern
Location: New York, NY
Pay: $18/hour
Duration: 11 weeks
Review posted on 8/30/2011
I gained real world experience:
1
2
3
4
5
Strongly Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Strongly Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Agree
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

- My Merrill Lynch team gave me real responsibility in asset allocation, estate planning, mortgages, taxes, and derivative strategies.
- Client meetings.
- Used Bloomberg.
- Smart team.

Cons:

Work is more geared to client services and portfolio allocation than true finance.

Advice for other students:

Networking is important. Also, during the interview, always make sure that you talk about the how each client is a unique investment case.
 
"Standard Internship work at Merrill Lynch branch office"
Position: Financial Planning Intern
Location: Seattle, WA
Duration: 10 weeks
Review posted on 6/20/2011
I gained real world experience:
1
2
3
4
5
Agree
My boss treated me with respect:
1
2
3
4
5
Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Neutral "OK"
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Neutral "OK"
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

Honestly, my internship at Merrill Lynch was very straightforward. I did filing, database lookups, worked with other financial institutions to research products, and helped manage some information across accounts. This was during my freshmen year in college, so not a bad internship for my first real work experience. I learned to wealth management business, which is far from picking stocks, etc.

Cons:

This was for class credit.

Advice for other students:

Merrill Lynch is a great brand to have on your resume and most branch offices will allow you to work for an agreed upon number of hours a week during the school year.
 
"You get to see how a Merrill Lynch branch and broker really work"
Position: Global Wealth and Investment Management Intern
Location: Atlanta, GA
Pay: $12.50/hour
Duration: 10 weeks
Review posted on 6/2/2011
I gained real world experience:
1
2
3
4
5
Strongly Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Agree
The work I performed was interesting:
1
2
3
4
5
Neutral "OK"
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Disagree
Overall, I was satisfied with my internship:
1
2
3
4
5
Agree

Pros:

- Learned it's all about sales and client relationships. My supervisor taught be client management and strategies to win over accounts. This was really interesting.
- Merrill Lynch is very supportive of brokers and is a great brand name for my resume.
- Learned portfolio management and how to allocate a client's money depending on age, risk appetite, etc. This wasn't as sexy as a thought - all about asset classes.
- My ML branch was very nice and supportive.

Cons:

- Some crappy tasks that are typcial for an intern.
- I thought I would learn more about picking stocks and finance in general.

Advice for other students:

Merrill Lynch is a great brand and the Global Wealth and Investment Management internship is a way to figure out if this is what you want to do.
 
"Excel work and I learned a decent amount about the bond market"
Position: Global Wealth Management Intern
Location: Houston, TX
Pay: $12/hour
Duration: 12 weeks
Review posted on 6/1/2011
I gained real world experience:
1
2
3
4
5
Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Neutral "OK"
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Disagree
Overall, I was satisfied with my internship:
1
2
3
4
5
Agree

Pros:

- Learned finance sales. Important skill that can be monetized.
- My manager bought a ton of bonds, so he told me all about them and his strategies. Pretty interesting.
- Merrill Lynch provides a ton of reading/learning material for interns. You get out of it what you put into it.
- Merrill Lynch has strong brand recognition.

Cons:

- I did some cold calling, which was both scary and exhilarating. I didn't like it.

Advice for other students:

Merrill Lynch provides great insight on how to manage a high net worth individual's portfolio. It's pretty interesting, but not great.
 
"Not for me, seemed like pretty crappy day in and day out work"
Position: Wealth Management Intern
Location: Jersey City, NJ
Pay: $12/hour
Duration: 10 weeks
Review posted on 6/1/2011
I gained real world experience:
1
2
3
4
5
Neutral "OK"
My boss treated me with respect:
1
2
3
4
5
Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Agree
The work I performed was interesting:
1
2
3
4
5
Disagree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Disagree
Overall, I was satisfied with my internship:
1
2
3
4
5
Neutral "OK"

Pros:

- I learned the brokerage system.
- Portfolio allocation.
- Nice people.

Cons:

- Advisor had to talk to clients nonstop which seemed tough. Kind of stinks to not be able to do anything without express permission.
- Merrill Lynch provides allocations and recommendations, so the advisor role was just basic relationship management. Not that interesting to me.

Advice for other students:

Take a look at more finance related roles if that is what you're interested in. Merrill Lynch is a good company though.
 
"Lot's of excel and envelopes, but cool boss at Merrill"
Position: Merrill Lynch Wealth Management Intern
Location: Chicago, IL
Pay: $12/hour
Duration: 10 weeks
Review posted on 6/1/2011
I gained real world experience:
1
2
3
4
5
Neutral "OK"
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Disagree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Agree
Overall, I was satisfied with my internship:
1
2
3
4
5
Agree

Pros:

- Everybody knows Merrill Lynch, so looks good on the resume.
- Very casual supervisor that allowed for a lot of flexibility.
- Some insights into portfolio mgmt and what the day to day life is like for a financial advisor.

Cons:

Bunch of excel work- calculating returns on clients' portfolios and stuff like that.
- Stuffed a bunch of envelopes and did some other busy work, but you have to expect some of that with an internship.

Advice for other students:

Merrill Lynch PWM internship isn't all about finance, so make sure you want to go into advisory and not banking.
 
"Boss was amazing, learned a ton, and coffee was delicious!"
Position: Wealth Management Summer Intern
Location: Tampa, FL
Pay: $15/hour
Duration: 10 weeks
Review posted on 5/15/2011
I gained real world experience:
1
2
3
4
5
Strongly Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Strongly Agree
The work I performed was interesting:
1
2
3
4
5
Strongly Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Neutral "OK"
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

Loved the ML wealth management group.
Felt like the brokers listened to my ideas even though I was an intern.
Delicious and free coffee in the mornings (I think it was the cream that made it so good).
Learned the instruments that are common amongst clients and how brokers use them.
Overall, great experience. Learned a ton and made some fantastic contacts.

Cons:

nothing

Advice for other students:

I didn't realize the customization and tax/legal implications side of the business. Good thing to learn, make sure you talk to the brokers about it. Also, I would imagine that the quality of your internship experience would completely depend on the ML wealth management team that you work with.
 
"Marketed Merrill Lynch to potential new clients"
Position: Wealth Management Intern
Location: New York, NY
Pay: $15/hour
Duration: 10 weeks
Review posted on 3/23/2011
I gained real world experience:
1
2
3
4
5
Neutral "OK"
My boss treated me with respect:
1
2
3
4
5
Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Agree
The work I performed was interesting:
1
2
3
4
5
Disagree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Neutral "OK"
Overall, I was satisfied with my internship:
1
2
3
4
5
Neutral "OK"

Pros:

I learned how to recruit clients. It's hard work and takes a lot of time. I basically looked up wealthy people (lawyers, doctors, etc) and tried to schedule portfolio reviews with them.

Cons:

Definitely some typical intern tasks. Making calls and spreadsheets to market to new clients isn't to fun.

Advice for other students:

Try to get a Merrill Lynch analyst program internship.
 
"learned how the wealth management group and advisors work"
Position: Wealth Management Intern
Location: Atlanta, GA
Pay: $15/hour
Duration: 10 weeks
Review posted on 3/16/2011
I gained real world experience:
1
2
3
4
5
Agree
My boss treated me with respect:
1
2
3
4
5
Strongly Agree
I enjoyed my fellow co-workers:
1
2
3
4
5
Neutral "OK"
The work I performed was interesting:
1
2
3
4
5
Agree
I feel better positioned to gain a fulltime job:
1
2
3
4
5
Agree
Overall, I was satisfied with my internship:
1
2
3
4
5
Strongly Agree

Pros:

This was a regional wealth management internship, so not the NYC Merrill Lynch internship. I loved being able to work with investment banks and traders to track accounts and propose trades. My manager listened to my ideas.

Cons:

Great company.

Advice for other students:

Loved Merrill.
 
 
 

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