Merrill Lynch Free Labor

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Insideman's picture
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Joined: 2008-02-28

Secondly, due to some family connections I can almost virtually guarantee a job
at UBS after graduation if I so choose.

Should I stay where I am at and finish out school or make the jump now?

brain.ra's picture
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Joined: 2008-02-20

If I'm understanding your question correctly...I would stay in school.  Merrill, UBS, etc. will always be there.  If you're finishing your junior year I don't think it would be worth puting your degree on hold.  I wouldn't put that off, get your degree and go from there.  Just my humble opinion of course...

OldLady's picture
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Joined: 2006-11-19

No disrespect is meant and I realize this forum has no spell checker and it is easy to type the wrong thing, but your misuse and misspellings of the English language seem typical for recent college graduates.  I must be turning into a grumpy old lady.  Plus, there is a "Preview Post" button, so you can proof your writing.
Insideman wrote:...I’m in college, about to finish my junior year, and last year I was hired at ML for an unpaid internship for the summer months. Along with Merrill, was another internship at a small RIA/employee benefits (Insurance) company that has 6 advisers. I turned it [wrong use of  pronoun - I'm guessing you didn't turn down the preceeding noun (RIA job)] down and took a paid internship with the small RIA firm. I’ve been there ever sense [since?] and have gained a ton of experience, well above the average intern.
On a side note, I now [know?] the person who took the job [the unpaid internship with ML?], [to be nit picky, a comma isn't needed here] and she quit after the first day [what does this have to do with your story?].
This past December I was offered a job with a different group inside Merrill, paid this time, but I had to take a semester off school and work full time. I decided to stay with the RIA because of the experience I was getting.  Now I want to move… The same unpaid internship in the first story [thought this was all one story] is available again for this summer. Is it worth the move for 3 months of no money?Secondly, due to some family connections I can almost virtually guarantee a job at UBS after graduation if I so choose [what difference does this make to your story?  If, indeed you have a job at UBS after graduation, why do you care about the unpaid internship?].Should I stay where I am at ["at" is an unnecessary word] and finish out ["out" is an unnecessary word] school [wrong placement - I'm assuming you plan to finish school regardless of the path] or make the jump now?
OK, I picked on you, so I'll answer your question as I think you are trying to ask it: should you apply for the ML unpaid 3-month internship?  Let's see.  You had to quit school to work in December and take a semester off.  What has changed that will allow you to work for free?  Finishing school as quickly as possible is the most important thing you can do careerwise.  If an unpaid intern position jeopardizes that objective, then stick with a paid position. 
 
If it doesn't matter, then interview for with Merrill for the position and determine what experience it may give you that you don't already have.  If it doesn't provide you with substantially different exposures than you are currently receiving, then why would taking the position benefit you?  If the answer is to have ML on your resume, a "job" you do for  free doesn't count for much in the resume department -- getting paid and retaining a position does count.

OldLady's picture
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Joined: 2006-11-19

While I was writing my reply, Brain.ra answered, but I'm guessing couldn't figure out your question.  Because of the incorrect wording in your last paragraph, it appeared to him/her that you are asking whether you should stay in school and complete your degree.

Moneyguy877's picture
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Joined: 2008-01-08

Stay with the job that pays you until you get your degree then go with SB. 

brain.ra's picture
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Joined: 2008-02-20

Yeah, I may have misunderstood the original question.  I was thinking that he was asking if he should take the merrill position now (causing him to take a semester off of school).
 I agree with OldLady's post 100% though. 

Akkula's picture
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Joined: 2008-02-17

Stay in school.  These jobs are a dime a dozen, success in them is what is hard to attain once you get one. 
Correcting someone's misspellings and grammar in this type of format is simply dumb.  This is not a formal paper or presentation.  This forum is an informal, anonymous internet forum.  These types of posts are simply pedantic and don't add any type of content to the forum or add anything to the discussion at hand;  this is not a formal writing forum.  The goal of the commuication is to get true advice on the topic.
Insideman, thanks for posting, many posters always seem to haze people on this forum when they first post.

Insideman's picture
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Joined: 2008-02-28

I'll be honest, I didn't type then proof-read as if it were a term paper, but sorry for any confusion. I tried to take a long and complicated story and sum it up. My dilemma is to stay at my small RIA where I get paid, or for this coming summer go to "Mother Merrill" as I have so eloquently read it as on this forum many times. The ML internship is unpaid, which is discouraging. I'm pretty much done with the small RIA firm and want to jump ship somewhere. Is getting your foot in the door at Merrill Lynch worth it, even if you work for free for a summer? Are they that good? Or should I stick with the money?

Morphius's picture
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Joined: 2007-07-21

Insideman wrote:I'll be honest, I didn't type then proof-read as if it were a term paper, but sorry for any confusion. I tried to take a long and complicated story and sum it up. My dilemma is to stay at my small RIA where I get paid, or for this coming summer go to "Mother Merrill" as I have so eloquently read it as on this forum many times. The ML internship is unpaid, which is discouraging. I'm pretty much done with the small RIA firm and want to jump ship somewhere. Is getting your foot in the door at Merrill Lynch worth it, even if you work for free for a summer? Are they that good? Or should I stick with the money?
Let's see: option "A" is continue in a paid job, gain relevant experience, and finish your education promptly.  Option "B" is work for free while being forced to quit school at least  temporarily, all for the perceived benefit of having 'Merrill Lynch' on your resume.  Income and a degree vs. no income and no degree ... hmmm.You already received good advice from OldLady - regarding both career choices and communicating clearly in the professional world.  What you do with such helpful advice is up to you.

Insideman's picture
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Joined: 2008-02-28

Thanks for the advice, and apparently i need to be sure to proof read more thoroughly.Just for the record, the Merrill Lynch job is currently for the summer and is unpaid. I wouldn't have to give up school, but I would certainly have an opportunity cost at loosing some cash compared to the paid position.Thanks again for some knowledgeable responses. All advice, including the criticism of my grammar at 11:30 at night was appreciated.

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