Compensation Negotiation for Merrill Lync
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[quote=WealthManager]
I am deeply grateful to all of those who have provided insight in regards to this and other topics where I have posted questions. Today I received a verbal offer from Merrill Lynch. Should I have received this offer before consulting these forums, I would have been insulted and may have thought I had wasted my time in the interview process. Thankfully there were many of you who were willing to put me in my place. Now I must decide between this offer and another offer that pays double. While there are absolutely no similarities in these positions, accepting the lower offer will still be a hard pill to swallow. Even with this, the ML offer is very compelling.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Thank you,
WM III
[/quote]
Did you forget to tell them that you are a wealth manager?
[quote=rightway]Your are full of garbage.
[/quote]
Who is?
What brought that on anyway?
I don’t belive WM is for real. My grammar was poor in that post (on purpose to satire WM III’s articulate posts).
[quote=WealthManager]I’m sorry, I posted too quickly. I meant to
ask what reasons besides initial monetary gain should I pick the higher
paid offer over ML? My understanding is that you work for
ML. Are you saying that it’s not a good place to work? Does
the POA program fall short on its promises? Does the huge
potential not really exist at ML?
WM III
[/quote]Rightway- what are you talking about?
WM- I told you to pick the higher offer because it is probably a more stable position, and statistically speaking you will not make it at ML. I'm not saying ML is a bad place to work. The program does not fall short on its promises - it promises to give you a phone and a computer, and it does exactly that. Decent potential exists but I wouldnt call it "huge". Mother will never stop taking more and more money out of FAs pockets....
[quote=rightway]I don't belive WM is for real. [/quote] <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
What would I be if I’m not for real?
[quote=nasal spray]Did you forget to tell them that you are a wealth manager? [/quote]
I most certainly did!
[quote=Proton]You seem like a sharp guy and you should be certain you can handle being treated like a dog by your employer until you start doing significant production. The other thing that can be depressing for a new guy is seeing some of the veterans that are either a little shady or not very bright and are doing big numbers.
I don’t work for ML, but the earlier posts by rightway and MobileMentor are something that you ought to read until you completely understand what they are saying. [/quote]
Your statements are duly noted. I understand that I’m in the courting phase right now and that things will be different should the marriage be consummated.
[quote=Scorpio]WM- I told you to pick the higher offer because it is probably a more stable position, and statistically speaking you will not make it at ML. [/quote]
Of these statistics I am becoming very aware. I have been trying to run simulations of potential valuations for the different positions. The input variables are nearly impossible to resolve. While I am not overly concerning myself with the possibility of failure, I am not ignoring it. I am continuously asking myself about what my opportunities will be should I fail or succeed?
[quote=Proton] What is meaningful is that you are finally at “crunch time” in the decision-making process.[/quote]
You are so very right. While putting together this response I received a correspondence from JP Morgan. They want to meet with me.
[quote=rightway]I don’t belive WM is for real. My grammar was poor in that post (on purpose to satire WM III’s articulate posts).
[/quote]
You mean “satirize”, right?
I’m surprised to see you saying negative things like that about ‘mother’!!