ML "vacation time" for advisors

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Jun 4, 2007 5:03 pm

I know there was a similar thread a few months ago, but it doesn't really address my specific question.  I wanted to see if anyone here knows anything before I bring it up with my manager...


I'm not really understanding how this 'vacation time' works at ML for FA's...my manager mentioned before that vacation time "doesn't really apply" but has also said that it's ok to take some vacation (example, I will be out of town later this month and be out for a day, which he said was no problem).  So now I'm slightly confused...is there just no set amount of vacation time allotted to fa's the way other ML employees are given (3 weeks/4 personal days/blah blah blah) and you take it as you see fit??  I obviously don't plan on taking a whole lot of time off in the first few years, but would like to understand this seemingly informal system a little better.


Thanks in advance for any help!

Jun 4, 2007 6:14 pm
kap39:

I know there was a similar thread a few months ago, but it doesn't really address my specific question.  I wanted to see if anyone here knows anything before I bring it up with my manager...


I'm not really understanding how this 'vacation time' works at ML for FA's...my manager mentioned before that vacation time "doesn't really apply" but has also said that it's ok to take some vacation (example, I will be out of town later this month and be out for a day, which he said was no problem).  So now I'm slightly confused...is there just no set amount of vacation time allotted to fa's the way other ML employees are given (3 weeks/4 personal days/blah blah blah) and you take it as you see fit??  I obviously don't plan on taking a whole lot of time off in the first few years, but would like to understand this seemingly informal system a little better.


Thanks in advance for any help!



vacation time?! if you want vacation time go teach 3rd grade public school. we want winners here!

Jun 4, 2007 6:28 pm
Vin Diesel:
kap39:

I know there was a similar thread a few months ago, but it doesn't really address my specific question. I wanted to see if anyone here knows anything before I bring it up with my manager...



I'm not really understanding how this 'vacation time' works at ML for FA's...my manager mentioned before that vacation time "doesn't really apply" but has also said that it's ok to take some vacation (example, I will be out of town later this month and be out for a day, which he said was no problem). So now I'm slightly confused...is there just no set amount of vacation time allotted to fa's the way other ML employees are given (3 weeks/4 personal days/blah blah blah) and you take it as you see fit?? I obviously don't plan on taking a whole lot of time off in the first few years, but would like to understand this seemingly informal system a little better.



Thanks in advance for any help!





vacation time?! if you want vacation time go teach 3rd grade public school. we want winners here!





Or just become a banker, oops, bank rep. Then you won't have to work to build your book, can take as much time off as you want, and will be one of the best in the industry! Oh yeah, there is also that awesome pay and independence, not having to answer to anyone but yourself!

Jun 4, 2007 6:35 pm
Oldproducer:
Vin Diesel:
kap39:

I know there was a similar thread a few months ago, but it doesn't really address my specific question.  I wanted to see if anyone here knows anything before I bring it up with my manager...



I'm not really understanding how this 'vacation time' works at ML for FA's...my manager mentioned before that vacation time "doesn't really apply" but has also said that it's ok to take some vacation (example, I will be out of town later this month and be out for a day, which he said was no problem).  So now I'm slightly confused...is there just no set amount of vacation time allotted to fa's the way other ML employees are given (3 weeks/4 personal days/blah blah blah) and you take it as you see fit??  I obviously don't plan on taking a whole lot of time off in the first few years, but would like to understand this seemingly informal system a little better.



Thanks in advance for any help!





vacation time?! if you want vacation time go teach 3rd grade public school. we want winners here!




Or just become a banker, oops, bank rep. Then you won't have to work to build your book, can take as much time off as you want, and will be one of the best in the industry! Oh yeah, there is also that awesome pay and independence, not having to answer to anyone but yourself!


Jun 4, 2007 6:36 pm
Oldproducer:
Vin Diesel:
kap39:

I know there was a similar thread a few months ago, but it doesn't really address my specific question.  I wanted to see if anyone here knows anything before I bring it up with my manager...



I'm not really understanding how this 'vacation time' works at ML for FA's...my manager mentioned before that vacation time "doesn't really apply" but has also said that it's ok to take some vacation (example, I will be out of town later this month and be out for a day, which he said was no problem).  So now I'm slightly confused...is there just no set amount of vacation time allotted to fa's the way other ML employees are given (3 weeks/4 personal days/blah blah blah) and you take it as you see fit??  I obviously don't plan on taking a whole lot of time off in the first few years, but would like to understand this seemingly informal system a little better.



Thanks in advance for any help!





vacation time?! if you want vacation time go teach 3rd grade public school. we want winners here!




Or just become a banker, oops, bank rep. Then you won't have to work to build your book, can take as much time off as you want, and will be one of the best in the industry! Oh yeah, there is also that awesome pay and independence, not having to answer to anyone but yourself!

What Old says is only partly true.   We can take time off as we see fit but as in any sales job time away from the office will impact your production.   I can take as much time off as I need but I try to schedule my vacations in my trail months so I know I will have good production even if I take a week of or two during the month.    I do have to respectfully disagree that even in the bank world we DO still have ot build our book but everything else he/she said was almost spot on.  Good job!


scrim

Jun 4, 2007 6:36 pm

You get paid to produce, not to put in hours.  Make your numbers and you can work 1 day a year.  Don't make them and you'd better be the first one in and the last one out if you want to succeed.


Posts like yours tend to be worrisome because it shows an employee mentality.  To succeed, you'll need an employer mentality.



Jun 4, 2007 8:56 pm
anonymous:

You get paid to produce, not to put in
hours.  Make your numbers and you can work 1 day a
year.  Don't make them and you'd better be the first one in and
the last one out if you want to succeed.

Posts like yours tend to be worrisome because it shows an employee
mentality.  To succeed, you'll need an employer mentality


At ML you want a slave mentality.


$15M in 2years or the dog gets it.


Jun 5, 2007 9:25 am

Just to clarify, as I stated in my original post, I'm not expecting to actually take vacation these first few years as I do understand that any time I take off will directly (negatively) impact my production. Got it...no need to keep beating the subject.


That wasn't really my question, I'm more looking for anyone who knows how the system works at ML. Thanks!

Jun 5, 2007 9:29 am
kap39:

Just to clarify, as I stated in my original post, I'm not expecting to actually take vacation these first few years as I do understand that any time I take off will directly (negatively) impact my production. Got it...no need to keep beating the subject.


That wasn't really my question, I'm more looking for anyone who knows how the system works at ML. Thanks!



I'm curious...why did you accept a job without knowing how "the system" works? Does that sound stupid to you?

Jun 5, 2007 10:09 am

I apologize, I'm obviously not phrasing my questions correctly.  Being new to the industry, I was aware that the typical 'employee' structure of vacation time/personal days/sick days don't really apply, and that was discussed at the time I accepted my offer.  However, I didn't want to press more into how exactly that works and what it meant in terms of when you do need to take time off since I didn't want to come off (as I seem to be now) like it was a really important issue and I wasn't willing to work as hard as I am. So no, it doesn't seem stupid to me because this industry works differently than every other company I've had experience with and I'm not sure how I could be expected to totally understand everything before even starting.  I did a good amount of research and talking to people in the industry but cultures and informal systems vary from company to company and often branch to branch.  I was just looking for some insight from someone who has been in my shoes.

Jun 5, 2007 10:14 am

Why are any of you giving Hull the time of day?


Lets look at some facts:


He has posted 729 times since March 13. That is almost 9 times a day (including weekends) If you exclude weekends he posts almost 13 times a day.


Do you really think he is the big closer he likes to talk about?


Think about it. If you posted on here 10 times a day, how much time would you have to be Mr. Prospector? He has no credibilty and I am tired of him taking good threads and degrading them to this drivel.


It would be best to just not answer him. It is obvious he is someone that doesn't have a job, or has one that he does not like and is not good at. Just leave him alone, he will go away.

Jun 5, 2007 10:20 am

I am still in the interview process but can someone provide me a good description of how trailing works? Based on reading an obove post, I am assuming a trail comes in the month the original account was obtained? Any help is greatly appreciated.

Jun 5, 2007 10:24 am
NYBankRep:

Why are any of you giving Hull the time of day?


Lets look at some facts:


He has posted 729 times since March 13. That is almost 9 times a day (including weekends) If you exclude weekends he posts almost 13 times a day.


Do you really think he is the big closer he likes to talk about?


Think about it. If you posted on here 10 times a day, how much time would you have to be Mr. Prospector? He has no credibilty and I am tired of him taking good threads and degrading them to this drivel.


It would be best to just not answer him. It is obvious he is someone that doesn't have a job, or has one that he does not like and is not good at. Just leave him alone, he will go away.



He takes the bait again.

Jun 5, 2007 12:19 pm
NYBankRep:

Why are any of you giving Hull the time of day?


Lets look at some facts:


He has posted 729 times since March 13. That is almost 9 times a day (including weekends) If you exclude weekends he posts almost 13 times a day.


Do you really think he is the big closer he likes to talk about?


Think about it. If you posted on here 10 times a day, how much time would you have to be Mr. Prospector? He has no credibilty and I am tired of him taking good threads and degrading them to this drivel.


It would be best to just not answer him. It is obvious he is someone that doesn't have a job, or has one that he does not like and is not good at. Just leave him alone, he will go away.



Exactly what is wrong with BH's post on this thread?  Frankly I thought he made a rather astute observation.

Bobby posts some rather acidic commentary and occasionally juvenile humor, but frankly I find it entertaining.  He also adds some useful information at times, too.

Jun 5, 2007 1:40 pm
kap39:

I did a good amount of research and talking to people in
the industry but cultures and informal systems vary from company to
company and often branch to branch.  I was just looking for some
insight from someone who has been in my shoes.





Cap, you can take reasonable amounts of time off, as you would like. There isn't a formal policy about it.



However, its doubtful that anyone takes time off, b/c of the heavy production requirements.

Jun 5, 2007 2:28 pm
kap39:

I apologize, I'm obviously not phrasing my questions correctly.  Being new to the industry, I was aware that the typical 'employee' structure of vacation time/personal days/sick days don't really apply, and that was discussed at the time I accepted my offer.  However, I didn't want to press more into how exactly that works and what it meant in terms of when you do need to take time off since I didn't want to come off (as I seem to be now) like it was a really important issue and I wasn't willing to work as hard as I am. So no, it doesn't seem stupid to me because this industry works differently than every other company I've had experience with and I'm not sure how I could be expected to totally understand everything before even starting.  I did a good amount of research and talking to people in the industry but cultures and informal systems vary from company to company and often branch to branch.  I was just looking for some insight from someone who has been in my shoes.


NO VACATION TIME until you complete the program.

Jun 5, 2007 6:50 pm

Do what you want, it is your career.  If taking every other week off is what you want then do it.  Just remember if you are not producing you will get fired, fast.  I can also promise you that if you closed 10 million in a week and then took a two week vacation, there is not a manager in the firm that would stop you.  That is the great thing about this job, you decide how hard you work, and how successful you are going to be.

Jun 5, 2007 7:42 pm

I was a ML trainee a few years ago and took at least a few weeks of
vacation each year.  As long as I was at "Far Exceeds" in the old
PDP program the branch manager never said anything.  I am at
AGE/WB now and usually take from four to six weeks.  I try to tak
time off in fee months and trail months.  If you are making the
numbers and growing the book you can come in when you want.  If
you are slow to grow, you better stay in the office.




Jun 5, 2007 7:51 pm


joedabrkr:



Exactly what is wrong with BH's post on this thread?  Frankly I thought he made a rather astute observation.

<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


The person operating under the name Bobby Hull longs for attention, so he engages in a practice known as "trolling" - he regularly insults and behaves rudely to contributors with legitimate questions in the hopes of getting multiple responses. His behavior, like that of all trolls, lowers the general level of discourse in this forum and encourages others to behave cruelly, write irresponsibly or to troll themselves.


He has had countless usernames before this one - Put Trader, NASD Newbie and has been repeatedly sanctioned by the moderators - forcing him to change his username several times. He will also operate with multiple usernames, so that he can attempt to manipulate the thread's dynamics, by making it appear that other members agree with him. Over time, his posts have become increasingly bitter and frustrated. There was once a brief period of time when he seemed to want to be taken more seriously.


I understand why you might be inclined to give him a pass - to a certain degree, there are two Bobbys (or Nastys or Putsys) - one that behaves like a juvenile and another who very occasionally produces acute observations. But his behavior, on balance, has built up so much bad blood and created so much ill will, that I think he should be classified as "irredeemable” and ignored, regardless of whether it’s one of his exceptional non-venomous posts (admittedly, I’m clearly not ignoring him now.)


The sad part is that he clearly has a fair amount of industry knowledge. As far as I can tell, he was some kind of lower level management type with a second tier brokerage in NYC for several years before retiring in 2000 or so. While his level of industry knowledge is no where near where he thinks it is, he has written some useful and insightful comments (although very few as of late). Too bad that the good is so eclipsed by the poison. He could have been one of the leaders of this online community (a position he so clearly longs for, despite what he'll tell you).

Jun 5, 2007 8:43 pm

Sorry, San Fran, you've got it wrong.  BH is not Put Trader.