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Compensation Negotiation for Merrill Lync

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Jun 2, 2006 2:30 am

“Your” probably correct.

Jun 2, 2006 3:11 am

[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?

Jun 2, 2006 4:29 am

[quote=rightway]Your are full of garbage.
[/quote]

Who is?

What brought that on anyway?

Jun 2, 2006 10:46 am

I don’t belive WM is for real.  My grammar was poor in that post (on purpose to satire WM III’s articulate posts).  

Jun 2, 2006 1:37 pm

[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....
Jun 2, 2006 2:29 pm

[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.

Jun 2, 2006 2:48 pm

[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’!!