Waddell & Reed vs. Merrill Lynch

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Jan 2, 2010 4:27 pm

I have my series 7 license already, I am interviewing with both firms. I would rather go to ML, any input on major differences would be great.   Also, what is a typical starting salary with both firms? Of the three: W&R, ML, MSSB which firm is best to work with right NOW?

Jan 2, 2010 5:11 pm

Any firm is better than Waddell & Reed

Jan 2, 2010 6:08 pm

W&R will pay you $2000/month provided you meet certain monthly production numbers for the first 12 months.  Miss a monthly number and the $2000 goes away permanently.  So if you need a guaranteed paycheck avoid W&R.  If you are confident in being able to collect commissions, then you might be okay.  Not sure how ML handles things...

Think about customer awareness.  If you meet someone and say you work for Merrill Lynch, they will know what you do and the company.  If you tell someone you work for W&R, the response will likely be "Who?"

Jan 3, 2010 5:53 pm

Based on some comments here I checked out ML opportunities here in NE Florida.  The ML Career page jumped me to BOA Human Resources.

Jan 4, 2010 3:29 am

Obviously its BofA now