merrill lynch client associate salary
What is more prestigious, kpmg or Merrill lynch? The CA is there to help the FA grow their business. They are the primary point of contact for clients and must be able to answer questions, provide advice, and resolve any issues that may arise. They must also be able to work independently and as part of a team, and must be able to handle stressful situations with professionalism and poise. Your input helps Glassdoor refine our pay estimates over time. What your skills are worth in the job market is constantly changing. With technology and automation taking over many aspects of the job, client associates must be able to build strong relationships with clients in order to provide them with the best possible service. Find your market worth with a report tailored to you, New research shows how to set pay for remote employees. That beingsaid, I expect CAs to get fully licensed, to know aboutinvestments and be able to advise clients. game without laying it all on the line just yet. The table shows below the name of the job title below you may be interested in including salary range and total compensation. But I do feel like the banking side of this role constantly presents excessive and additional work that was not a part of the business prior to 2008. Merrill Lynch Client Associates earn $40,000 annually in Bethesda, MD, or $19 per hour, which is equal to the national average for all Client Associates at $40,000 The estimated total pay for a Registered Client Associate at Merrill Lynch is $122,940 per year. High turnover due to middle management struggling to adapt to a modern workplace culture. Find out more about, Get started with your Free Employer Profile, Client Associate interview questions at Merrill Lynch, Client Associate employees at Merrill Lynch. Member login! Your input helps Glassdoor refine our pay estimates over time. The To help speed this along, wed really appreciate it if you would, This category could use your help. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Lots of people that are client associates tend to make it a career for 2-3 decades. I also know that it was acquired by Bank of America in 2009, but still operates as a separate entity. These professionals all had unique skill sets and perspectives, so I learned how to adapt to these differences while still providing quality service.. The best thing is the amount they match, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. Client Associate professionals working at Merrill Lynch have rated their employer with 3.9 out of 5 stars in 595 Glassdoor reviews. Your best bet is to take a salary you can live Median Annual Salary: $94,364 ($45.37/hour) Top 10% Annual Salary: $124,950 ($60.07/hour) Merrill Lynch Client Associate Job Requirements To be hired as When answering this question, it can be helpful to highlight some of your most important skills and qualifications. A lot of unnecesary pressures from the BofA side of the business. The estimated additional pay is $48,536 per year. I have seen clients fill out depositslips and list the CA as their Financial Advisor. The best thing is the amount they match, Learn How to State Your Case and Earn Your Raise, Climb the Ladder With These Proven Promotion Tips, A Guide to Negotiating the Salary You Deserve, How to Prepare for Your Interview and Land the Job. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. Your input helps Glassdoor refine our pay estimates over time. Anonymously share your salary to help the community, Averages based on self-reported salaries. Additional pay could include bonus, stock, commission, profit sharing or tips. I work in a low paying region and a basic, non-registered CA gets little. Thank you very much guys. Got an offer at Merrill Lynch to take over a 100 million dollar retirement transition plan in 5 years, or to join a 5 person Merrill Lynch team that manages a lot. She makes GOOD money and never even went to Employers ask this question to learn more about your personality and how you might fit into their company culture. Search open, Client Associate professionals rate their compensation and benefits at Merrill Lynch with 3.8 out of 5 stars based on 595 anonymously submitted employee reviews. As your abilities grow, one of two things happen. This requires a thorough understanding of financial concepts and the ability to interpret data. There is management, back office, specialist and FA. I interviewed a prospective CA onFriday that I hope we can get because she is exactly what welook for in that position. Client associates at Merrill Lynch typically start out as entry-level employees, but they can move up to become financial advisors or branch managers. Compensation depends entirely on supplemental comp from FA. college, just learned the biz and made the clients love her. Glassdoor has 5,530 Merrill Lynch reviews submitted anonymously by Merrill Lynch employees. The "Most Likely Range" represents values that exist within the 25th and 75th percentile of all pay data available for this role. Pay ranges for the same job title may differ based on the location and the responsibilities, skills, experience, and other requirements for a specific job. Additionally, staying informed of new regulations and laws that may affect their investments or financial plans is essential. A CA should be extremelyvalue added in reviewing clients accounts and identifyingbusiness opportunities. Understanding these developments and being able to explain them to your clients will give you an edge over other professionals in the field. They must have excellent organizational and communication skills. Get a free, personalized salary estimate based on today's job market. You may also be responsible for ensuring that clients have access to the financial resources they need, such as loans or mortgages. That being said, I expect CA's to get fully licensed, to know about investments and be able to advise clients. The estimated base pay is $74,660 per year. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Also, mlmanager, would you recommend this position as a starting point for someone who wants to become a trader? Select a company name to explore and learn more about other companies across the industry and to compare average salaries with those at Merrill Lynch. This question is a common one in interviews. I just graduated from Tulane University with a double major in Finance andAccounting. The starting salary varies from region to region. Merrill Lynch 3.8. Merrill Lynch & Co Inc pays its employees an average of $61,600 a year. Events! You will have a lot of work to do every day, the list of tasks is never ending. It also requires staying up-to-date on industry trends and regulations in order to provide accurate advice and guidance. This requires excellent organizational skills and the ability to prioritize tasks. On Fishbowl, you can share insights and advice anonymously with Merrill Lynch employees and get real answers from people on the inside. Verify your email to use filters. [/quote]. Client Associate Average Salary at Merrill Lynch, Merrill Lynch Client Associate without location (73 salaries), Browse Merrill Lynch Salaries by Job Title . They assist the sales team with sales leads and maintaining (and building on) client relationships. There may be multiple reasons for pay differences - one of which is a small number of salaries submitted per job. A Client Associate at Merrill Lynch is responsible for providing exceptional customer service to clients. One of the bigger producers in my office is a woman who was formerly a Edward Jones advisor with 30 million AUM and roughly 250k gross production. Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. They want to know that you are self-aware, so its important to answer honestly but in a way that shows youre working on improving the weakness. There is management, backoffice, specialist and FA. Engage in conversations about Client Service Associate pay with other professionals in the community. Thanks! Very fast pace. Boston University. I have excellent communication skills and am highly organized. Example: In my previous role as a client associate, I worked with many different groups of people. Its also an opportunity for you to show that you have strong communication skills, can work well with others and are willing to take direction from someone else. It is a good area to get experince if you have none. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. There are lots of opportunities to grow into a specialized client associate role which will allow the team to Talk with management and your FAs and let themknow that you dont want to be a CA forever. Manage all client account opening, transferring, and closing processes, ensuring that procedures are followed correctly. The estimated base pay is $59,621 per year. She is licensed, takes an active role inher FAs business, she helped a group of FAs triple theirproduction by organizing their book and pointing out what theyare doing that works and showing them opportunities Shealso seeks out opportunites in the office in order to provideexpertise in specific areas.As a manager, I expect that a CA do everything and do it well. One, your FA's recognise the value you bring and they add supplemental comp or other FA's or management recognise your abilities and you get a new team that is willing to pay you more. Yourbest bet is to take a salary you can live with, get licensed ifyoure not already and start working. Yes, they do inherit books. If you are lucky, you will work with an FA that doesn't think we still live in the 1970's lol. I am interviewing for a Client Associate position at Merrill Lynch in NYC. Financial advisors are responsible for providing advice to clients on investments and other financial matters. The average salary of Merrill Lynch jobs will vary according to location, department, and job description. A good CA can make This can include sending them monthly updates on their accounts, answering their questions and concerns and ensuring they are satisfied with the service they receive. Certification or licensing may be required depending on the state in which the position is located. Geez-this is the most impressive post I've seen about Merrill of all. People that are client associates at Merrill Lynch jobs will vary according to location, department and! As their financial Advisor Glassdoor '' and logo are registered trademarks of Glassdoor, Inc. `` Glassdoor '' and are., New research shows how to set pay for remote employees this position as a client Associate, expect..., commission, profit sharing or tips is essential take a salary you can live with, get ifyoure. Geez-This is the Most impressive post i 've seen about Merrill of all or tips and anonymously. 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