Roll Call- Who's Walking from MER
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[quote=daytradah]
cubfan:
Forget the phunny name. You days of laughing will be few and far between. Congrats that you HAD a great career at MER. You just sold your future to BAC. You will not have a book that you own. You sold your soul because it was the easy thing to do in this environment. Hunker down... see where the chips fall. The only problem is you have just given BAI your coordinates and the have a JDAM ready for you right in the crotch after you take the money. Just giving some food for thought. It will be unlike anything you can imagine. Everything you learned at MER will be sacrificed. You will be on a tread mill that will require more legwork, more incline, and less direct comp for you. The comp plan changes quarterly and atleast annually in a negative way.You will be working for someone who needs you to complete data entry so their report can be sent to the next clown who never sold anything, so they can tweak and massage the numbers, to get it up to their regional drone, who cooks the numbers for the district slob, who then completely bakes the souffle so the CEO shyts his depends over how much money you made versus the bank
Its hard to image because your frame of reference is wholly absent of any experience working in a large bank. You are entering into a world where people are seekers of security in the form of a monthly predictable paycheck. Anyone crazy enough to live off of commissions may get lucky a month or too but they will be damn if you are going to make fools of their underachievement.
They are not risk takers by definition and DNA. You will be describing the wonderful colors of the rainbow to people who see only shades of gray. They will see you as out of the norm and spoiled and overpaid.
It will all be friendly at first and then you will catch the faint smell of Lubriderm down the hall. It will then be too late when you see the bowling pin they will deliver to you. I bid you Adieu.....[/quote] VERY well said but with any luck they will keep it like C / SmithBarney although it didn't sound that way today!Well, what did they say?
I missed the call today... probably because I don't work there anymore.Mucho:
Let me give you one for old time sake.
Good morning everyone we have WONDERFUL News. We are revising our 2009 comp plan to create the most lucrative payout in the industry. As a leader in delivering the ultimate client experience (well, next to Space Mountain in Disneyworld) we are REALIGNING our compensation to reflect new industry metrics and the current FACAPAPU line up.
You will make more money in 2009 than you did in 2008 under the new comp plan. You will not receive this additional compensation until you need a bottle of viagra just to piss when you are forking 82 years OLD...AHAHAHAHAHAHAHAHAHHAHAH
Skrew YOu BAC I am laughing my ass off at that gobbledegook you will be force feeding the MER lemmings.
you guys can always go independent like me and be your own boss…I prefer not to sell risk only guarantees with insurance companies…some agents make in excess of $2million a year and they sleep at night knowing no one controls them
bravo <SPAN id=userPro116721 =msgSidePro title=“View Drop Down” =“showDropDown’userPro116721’, ‘proMenu116721’, 160, 0;”>daytradah. you must have worked for them also.
i laughed my ass off.Whalehunter… I almost expected you to bring up those damn “TPS” reports! Anyone want to understand the culture at BofA and the future at ML? Just toss your old Office Space DVD on the player tonight and enjoy.
we should start a seperate thread authored by ex baisi reps to swap stupid experiences at bac. call it office space.
Here, picture this for the opening scene (true story in 2005, the era of low rates):
I had been there a year, trained all of the personal bankers on what I do, offered to swap leads, etc. Because I was in what was considered a "community bank" ala small town, I never saw a Premier Banker and received minimal introductions from the branch so my production sucked except for what I brought over from ML. My RM is in my branch berating me about not making enough referrals back to the bank (CD's, loans, checking accts). My argument was "why should I refer to them when they won't refer back to me?" when the branch manager of the bank walks over gloating about how his top banker just renewed 600k of CD's for a couple in their 50's at a low interest rate and how the bank is going to make a great spread. The RM and BM proceed to get in an argument about where the that money should have been invested. The RM leaves the branch pissed off at me and the branch manager. Talk about an uncomfortable environment... yeah, I got a ton of leads after that incident. NOT! That underscores why BAISI is setup for failure, and it will get worse as the fear grows larger.We have had one office completely implode and another office that is bleeding slowly. In total between the two offices in our complex we have had about 14 advisors leave and they have mostly been 1st and 2nd quintile producers. People are getting anxious around here.
Office Space i love that movie!!! what a great idea about a new thread. Perhaps we should swap stories about BofA & ML and check out the similarities…I bet there are many.
The MD from ML’s biggest office in the country was fired yesterday along with one of the admin managers. Unbelievable.
Office Space had to be written by an ex BAC employee that was driven to crank out a screenplay so he wouldnt blow his brains out.
All large companies are basically adult daycare pods for 80% of the employees who drool on their keyboards, text their bookies, and try to score a date with the hot "cubie" down the hall. BAC is the prototype of a wastrel zombie corp.
You have the pathetic middle 10 layers of VP level management who are the most loathesome of all. Simply promoted because they are sadists who could not be shamed or humiliated away from their "career" aspirations at the company. They were going to last 10 years no matter how much of their personality or basic humanity had to be sacrificed. Can't or didnt sell anything ever(except their soul to the co.) Secretly or overtly resents those who can sell and dont need their "expertise" to succeed. And is always fearful because they are kept one phone call away from getting shown the door by the next goon above them.
These are the arseholes who speak in grating and mindless slogans like "Have you delighted your clients today"? or invent metrics that purport to measure "client delight". A well placed finger can also measure client delight with out generating a fucking report. These middle management clones are stripped of any original thought or personal perspective and are a horrific non revenue generating labyrinth that separates the top eschelon or the top 50 persons at BAC from any contact with the unwashed masses that are slaving away to grind out a pitance at the teller line.Its pure soviet style Politbeureau insanity.
Dont worry MER brokers you will learn to love it. But you certainly wont be able to leave it.
It was the 5th Ave office. The MD and Admin swept a large error under the rug and they did not report it to FINRA.
The position is already posted. Interesting, the talk around the region was that he just had it and walked in and resigned.
I know for a fact that it was the error although, being sick of this whole thing would make sense. I’m fed up with everything at ML right now.
On a different note, did y’all see the story today that the head (which was #2 into the acquisition) of US Trust resigned? Now Keith Banks, a banker no less, runs US Trust. This proves my point many moons ago that BofA looks at all acquisitions as a victory over the looser and to the victor go the spoils. They always end up with their people running the show. That is why they are referred to as the “Charlotte Mafia”. They take it as a compliment.
It was the 5th Ave office. The MD and Admin swept a large error under the rug and they did not report it to FINRA.
Well what on earth does this have to do with the B of A transition? Do you guys really think that these guys being fired was because of the B of A merger in any way? Come ON now guys! I have yet to hear anyone explain to me how the new ML is going to be any different than the current Smith Barney. Owned by a bank, operating the same way it did when it was independent. Is Citi just not as good at ruining its own internal culture as B of A is? That would explain Citi's $7 stock price I guess? This is becoming ridiculous. ML will be ML.