Timeless question: ML, SB or WS?

7 replies [Last post]
unc2006's picture
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Joined: 2007-06-19

ML seems to be the most upfront and are quite frankly blunt about their training and their washout rate.SB and WS seem to have solid offerings.  WS seems to have more of a regional firm feel than the other two.Rather than "use the search," are there current reps at these places that can help me out with my decision?

xbanker's picture
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Joined: 2007-01-21

Just curious why not considering Morgan Stanley. Not in your area? I'm not recommending, just curious.

unc2006's picture
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Joined: 2007-06-19

Haven't seen much of a presence of MS here, though I am sure they are.  Plus I don't have an internal contact with them.I am worried with ML that they won't connect me with a team out of the gates.  I feel like I am doomed to fail if I have to do it on my own.  Not due to lack of desire, but I want someone to show me the ropes.  If I have a good manager, I know I will make it.

Vin Diesel's picture
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Joined: 2007-04-18

unc2006 wrote:Haven't seen much of a presence of MS here, though I am sure they are.  Plus I don't have an internal contact with them.I am worried with ML that they won't connect me with a team out of the gates.  I feel like I am doomed to fail if I have to do it on my own.  Not due to lack of desire, but I want someone to show me the ropes.  If I have a good manager, I know I will make it.
don't count on a manager to make you succesful 

BigRed's picture
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Joined: 2007-04-15

On a side note, what can one expect to recieve in salary as a trainee in one of these programs right out of school? How long should they expect to recieve the salary?

12345's picture
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Joined: 2006-12-04

BigRed wrote:On a side note, what can one expect to recieve in salary as a trainee in one of these programs right out of school? How long should they expect to recieve the salary?
35K-40K for 1.5-2 Years

BullBroker's picture
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Joined: 2006-12-26

Don't only look at the Salary, look at the training, ask the BM if they provide mentors you can learn from.  This is worth far more than any amount of training salary and can make or break a newbie. 

BankerBuddy's picture
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Joined: 2006-12-29

Here is my experience in the POA so far:
 Managers and coaches make a BIG impact! Every office differs pending on leadership. I am having BIG help from my coach and branch manager as far as networking is concerned not to mention the resources you get at Mother Merrill is huge. The major difference in the end though is you. No one builds your book but you. All they can do is help you (but they sure as hell wont push you unless its out the door for failing the program).
All these guys (so far) at this post have great input, they know what they are saying. Don't worry about salary, dont rely on others (as helpful as one manager can be, doesn't mean they will build your book), and focus. You should be eat, sleep, drink, and crap everything and anything about the company, the industry, and more importantly, your business. Believe in yourself and you should do fine.
Completing the POA program is a huge deal on the resume in the finance industry. It's one of, if not, the greatest training an FA can have. You pass that your sure to succeed anywhere.
(If you still feel you cant complete the high demands, go into banking and become a banker for a year or so. Then you will have at least a network going. Thats what I did and its paying off...literally)

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