you will look worse.

Again - BofA will leave ML alone for almost 2 years. Then, as they have done every single time with every other M or A it will be BofA running the show. Look what happened with US Trust, the closest example and the most recent.

I can’t believe no one has leaked this. I see MS is raising payouts accross the board anounced today. UBS did the same last month. Early discussions were that ML was to do the same but we are now really worried that BAC has locked half the firms FA’s with the buy out award. Basically they can cut pay in half and nobody who signed can walk. Good luck on recruiting new FA’s with garbage payouts. When the market rebounds i am going to MS.

That is not what I heard about the MS grid.  It will increase 2% for those doing $3mm (how many of those are left) and 1% for those doing a $1mm and 20 years of service.  Everthing else is the same on the grid.  I believe there are some cuts for those doing less than $200m or $250m.

Geez,

[quote=Phan2om]Geez,

There are no more delays. Your manager’s will know by tomorrow afternoon. They are all in NJ tonight and they will get it from Sontag on Tuesday.

Word is bad news for $350k or less… basically a motivator to leave. Also hearing that nobody is going to be enthused. I’ve heard a lot of my friends at ML who were not enthralled with the retention deal say they’re waiting for good news in the comp plan. Probably going to go over like a lead balloon. We shall see. 

Have the ML Mgrs said anything why they are taking so long? This is abnormal for Mama but not abnormal for banc of amigo. They usually put out the plan on the 17th with clarification sometime in mid march into the plan year.

Alright lets hear the new grid, it was announced at 2:00 today.

I’d love to hear it as there was no mention of it in my office.  I’m sure that is good news.

No news today for us either- anyone?

Looks like ML is doing a DBS on Thursday at 4:15. We did get an email today that told us to stay off of the chat boards and don’t talk about firm policy…Ha!

Dbs?

DBS is a satellite feed to everyone’s workstations. 

Digital Broadcast System - ML TV

not to be confused with MTV. 

Ok we have the same thing just with a different name. They always have great actors who are so excited about the combined companies. Can I get some chips with the cheese… Ra Fa gooo BofA/ML

Talked to FA at a different branch around 5:30 today, his Director told him that the new comp plan will be “very unkind”.

Well of course it will. The retention was unkind in the mind of many as well. Why would the comp plan be any different at all? Does anyone really think that BofA needs all 16,000 FA’s? They are a carrot and stick company. Stick it to the under the “line” folks" and offer the carrot to the folks they want to keep. It is the same way in every single line of business they operate. They do not look at the securities business any differently than they do any other business line. There has never been anything to tell them otherwise, according to them.