MSSB Hiring Process

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Aug 28, 2009 11:23 am




I am in the middle of the process- thought I was finished!



Did the online application, got a call, did the online test and biz plan, went for an interview with 2 managers, sent my income verification- thought I was done.



Now I have a callback to meet with "a few people" and discuss my biz plan in depth.



Is the 2 interview set up normal? Maybe they are on the fence about me...



If this is normal, can anyone tell me what will be covered in the next interview? More of the same or something new?



Call is starting the end of September so time is getting a little short, I think.



Thank you.

Aug 28, 2009 5:21 pm

I met with them this morning( really unimpressed, actually turned off), but was moved ahead.. Same program, online app, call, test, interview, biz plan, next is final interview with regional trainer to discuss my biz plan in person, and then they make a decision.

 
Doubt it will get that far, the guy kept on talking about niche marketing.. find 500 people you want as clients and focus on them only, just dont' take anyone.. but then said, "have to make the production numbers, so you will have to prospect more than that"
 
Aug 28, 2009 7:05 pm

went the other way around....interviews, tests, biz plan, offer, did a background check which took 2 weeks, now income verification. Just waiting to see the confirm letter



The production number thing is interesting - money is money. I have heard some wacko prospecting methods by other firms. I just figure that you test and see what works and go from there. Just need a company that will give you that latitude.

Sep 1, 2009 11:09 am

i am in the process as well. i am going through a recruiter. sent my resume to them and received a call immediately for an interview from the recruiter. then i formally applied online. branch manager called and spoke with me a little, then i took the online assessment tests, then the branch manager called again about 45 minutes after the test was complete. interviewed the next day for about an hour and a half. i was impressed, he said he wanted to proceed, he asked me to think about it and call him the next day if I wanted to proceed. called the next morning and he set up 3 interviews for me with 3 different brokers in the office. I havn't discussed business plans or any dollar amount in base salary yet with this manager. I have been self-employed over the past 5 years so income verification can be difficult. Is there anything I should be worried about with income verification? What kind of offers are you guys getting for the base salary?

Sep 1, 2009 2:39 pm

I gave my tax returns of my business to them. They will give you 75% of what you made before from what I understand.



Still waiting, and hopefully something will happen this week. I am still interviewing and will meet with Merrill tomorrow.

Sep 1, 2009 2:47 pm

From what I know, they will offer what you are making now (salary not including bonuses)

Sep 2, 2009 2:02 am

Wow, MSSB is really hiring. How ironic that just 3 months ago EDJ's was being grilled for hiring seemingly "everyone." Now it seems as if the tables are turned. MSSB is now the joke. HA, how refreshing. Now begins the demise of a ONCE admired, prestigious brokeage firm. BAHAHAHA. EDJ's reign of being the hiring king is over. HAIL QUEEN MSSB! HAIL! 

Sep 2, 2009 4:45 pm

Everyone is hiring - not only Jones.

Sep 2, 2009 7:31 pm
Otane:

Everyone is hiring - not only Jones.





Exactly, I am in the interview process with 2 other firms, none being EJ. Hopefully of the three I will get a good offer. Right now, I am most impressed with MSSB, but nothing against the others.

Sep 2, 2009 7:49 pm

What made you impressed with MSSB? And are you looking at a legacy MS office or SB?



Because they were the least impressive of the firms I met with

Sep 2, 2009 8:38 pm

Well, MSSB in this branch seemed a step above the other firms. A more intense first interview, which I liked. He definitely asked tough questions. In this branch the last new hire has been there 4 years and already has a substantial book. Which means the drop-out is low. The average assets managed were over $100mm, which impressed me (even though I know this isn't a game of averages). The branch manager seems very determined that his new hire succeeds. He told me the average trainee drop out in the industry, the SB drop-out rate, and his hires drop-out. His was much lower. Plus, just from what I know already about this MSSB branch, all of the best and wealthiest in town use them. So, so far, I am impressed. At the other two firms they seemed to be must more laid back, which I might like in 5 years, but right now I want a branch that will push me to my limits and people who really care if I succeed.

Sep 12, 2009 4:23 pm

What do they require for income verification?

Sep 12, 2009 9:31 pm

1040 or w2.

Sep 12, 2009 10:41 pm

I don't know why they bother. Just give 50k across the board, and go from there.



I pay myself low from my other business, but if you add up all the expenses (corporate credit cards, car expense and etc.,) I pay myself 200k+. MSSB BM didn't understand the concept of avoiding Uncle Sam. So he offered me 50k, after saying 75k. I showed him my tax returns from my corporation which grosses 7 figures, but if you take expenses, aggressive 401k and etc., I give little to the taxman.



The salary doesn't really matter to me, just how it was handled. In addition, I don't know if that BM really understood small business.

Sep 13, 2009 9:08 am

I was never asked for my tax returns, just given what I asked for...

Sep 14, 2009 5:38 pm

So, im going through the mssb hiring process. the bm told me he wanted to hire me, and he would need to do a background and credit check. no problem on the background, but on the credit i had some past due accounts because i am self-employeed and my business has been struggling a few months, thats why i was out looking for a job, even though my business is still going and actually picking back up. i told him this upfront in the first interview. So, he told me i needed to catch the accounts up before he sent the report up the ladder. so i did with help from friends and family. then friday, the BM called and asked my college gpa and other college activities? i mean, i have been out of college for over 5 years and started a business that has been very successful over the past 5 years up until the economy free fall. what does my college gpa have to do with anything? he liked me in my interviews, said he would offer me the job now if it was up to him, but he says its not since my negative credit report. why the college gpa question? not that i need to worry about it, but if he is fishing for a way to turn me away i wish he would straight up just tell me.

Sep 14, 2009 7:40 pm

I was asked about my GPA as well - my credit and background were flawless but GPA during my undergrad was very low.  I did get an offer two weeks later - I think you just might be in the homestretch if he's asking those questions. 

Sep 14, 2009 8:33 pm

Wow.

 
I was asked general questions about college, and credit check (one outstanding item that is being disputed, not mine), but nothing like what other people are going through.
 
Now I am curious as to whether or not my BOM isn't going through the hiring process the right way or he really thought I was a strong candidate so bypassed some of the formalities.
 
Either way hopefully I get to pave my own way to sucess.
 
Best of luck with the rest of the process.
Sep 15, 2009 10:37 pm

That is the difference that I saw between MSSB and Merrill. Merrill had more of a system, then a shoot from a hip approach. Personally, I am a big believer in some type of systematic approach.



GPA is worthless....so is a college education for this business, and a lot of other businesses.

Sep 15, 2009 10:44 pm

How long did they take to review your business plan?