Wealth Management

[Anonymous No.15172961]

I just got head hunted for a wealth management position with Merrill Lync.
Is anyone actually in the /biz/ professionally or are you all literally nothing but a bunch of NEETs or McCucks flipping burgers?
Starting salary is $60K
Wat do?
Can I just play Minecraft and Runescape at work?

[Anonymous No.15172989]

>>15172961
how did you get that job? What degree? What school? Previous experience?

[Anonymous No.15173018]

>>15172961
>wealth management position
Salaried or commissioned? Support or front lines?

[Anonymous No.15173024]

>>15172961
$60k? They're fucking with you, friends in pwm are starting $80-100k and basically that much in bonus Y1

[Anonymous No.15173087]

>>15173024
He should still take the job if it's salaried, then move on to a nice job like your friend has after 2-3 years.

"Experience" is king, even if it's only on paper.

[Anonymous No.15173098]

>>15172961
It's a sales job. Your job will be to trick people into buying stocks and bonds.

[Anonymous No.15173145]

>>15172961

While you were pushing numbers around I was helping mine craft server admins monetize their servers with crypto mining.

Dandolo Fucking City

[Anonymous No.15173206]

>>15173018
They weren't specific. I checked out glass door and the reviews are meh.
>>15173024
I graduate next year so I mean $60K is gonna be a retarded amount of money for me to handle to begin with.
>>15173098
I mean yeah but fuck normies man. I'm all in on gold and silver. I'm just gonna turn my $60K worth of goy bucks into precious metals and some crypto.

[Anonymous No.15173227]

Yeah I head the investment strategy desk at a startup wealth management fund. What do you want to know OP?

[Anonymous No.15173235]

I call larp

[Anonymous No.15173240]

>>15173206
>buying boomer rocks
The blind leading the blind

[Anonymous No.15173245]

Reasoning
Too many questions and red flag words
OP is as always a faggot

[Anonymous No.15173262]

>>15173227
How soul sucking is it?
I want massive return on my time and sheeit
Do you deal with baby boomers?

[Anonymous No.15173276]

>>15173240
>Anon has kids
>Went all in on memecoins
>has kids
>Anon dies
>Kids don't know his wallet password
>Kids lose out on millions of memecoins

[Anonymous No.15173288]

>>15173245
sh-shut up

[Anonymous No.15173298]

>>15173206
That's good man, go for it. If it sucks just find something else. $60k is comfy AF right after college.

[Anonymous No.15173321]

1. put everything in index/etfs
2. play runescape and minecraft

you will outpreform everyone

[Anonymous No.15173486]

>>15172961
60K???? Wtf get another one lmao

[Anonymous No.15173522]

>>15172961
What could you be doing for merill lynch where they come for you, but you only get 60k? I work for an RIA so I can actually answer any questions you have if you want

[Anonymous No.15173716]

>>15173522
Idk I don't really trust 'em desu
Bank of America bought them out during the Recession because they fugged up everyone's investments.
So, yeah I think I'll just do it for the money but redpill me on how to negotiate for more salary.

[Anonymous No.15173777]

>>15173262
If you have a passion for finance and spreadsheets then its pretty good desu. Otherwise yes its soul sucking.
I only talk to high networth clients and they are all boomers so yes lots of boomers. The pay gets good once you've been around for a couple years without fucking anything major up, but desu I've never worked for a corporation so not sure how it will be at merril.

[Anonymous No.15173834]

>>15173206
bro im a freshman and think 60k ain't shit. fucking no money and all work.

[Anonymous No.15173848]

>>15172961
That will be a pure sales job and the requirement for success in that job is to look at least 45.

[Anonymous No.15173874]

Been in Finance for a couple years working for BB in NYC, you more than likely got scouted to be a financial advisor or sell some type of insurance policies. They require you to sell X amount before they’d consider sponsoring you for your Series 7 and series 63 (two licensing you need to actually advise people about their money) the tests aren’t hard I have a lot of friends that have them that started right where you are and they love it.

Pro: you’re a salesman for the first 3 years. They start you off with a livable salary/wage as they teach you to sell as long as you sell x amount of insurance policies or introduce them to x amount of new customers. After a year they expect you to have so many policies sold so you can begin living off the commission the premium generate. Year 7 you have a fat book of business making you over 100k and you just maintain and add 3-5 new clients a year and you’re set.

Cons: you’re a fucking cold calling salesman for 7 years trying to build that book of business. It’s brutal. Northwestern mutual has a turn over rate of 88% in the first year alone. If you enjoy talking to randoms and begging your friends and family to buy your life insurance policies until you sit for you 7 and 63 then go for it, but most people wouldn’t.

If you’re doing something else lmk and I’ll give you some better insight.

[Anonymous No.15174006]

>>15172961
>are you all literally nothing but a bunch of NEETs or McCucks flipping burgers?
>Can I just play Minecraft and Runescape at work?
sounds like you fit right in

[Anonymous No.15174101]

>>15173716
Comfiest picture I’ve ever seen. Got any more?

[Anonymous No.15174175]

>>15173145
>Dandolo Fucking City
Based and Dark Towerpilled

[Anonymous No.15174242]

>>15172961
CFP here. What's your questions?

[Anonymous No.15174417]

>>15174101
Yeh, fren. lots. just wish to be free from financial enslavement tho.
>>15174006
I know, right? Minecraft mansions are great.
>>15174242
what's a CFP?
>>15173874
why do they tell jewish lies? i thought i was gonna manage wealth not sell cars and shit

[Anonymous No.15174433]

>>15173777
trips of truth

[Anonymous No.15174479]

>>15173834
k

[Anonymous No.15174510]

>>15174417
It's the highest level of education you can obtain as a wealth manager. Think of a CPA designation to an accountant. Similar to that.

[Anonymous No.15174746]

Investment Banker at a BB here.

[Anonymous No.15174829]

>>15174746
gib green text of a normal day

[Anonymous No.15174842]

>>15172961
have fun getting automated out

[Anonymous No.15174923]

>>15174842
DETROIT BECOME HUMAN NIGGA
PLAY THAT GAME

[Anonymous No.15175028]

60k is decent for your first real job. jump on it. more than the money, the experience should be what you want. put in some time, but always be looking for a better job.

[Anonymous No.15175082]

>>15172961
I got offered wealth management with morgan stanley but it was less than that and in a very high cost of living location so I just ghosted them instead.

[Anonymous No.15175122]

>>15175082
yeah i really don't want to live in POZZED Jew York City or San Fran. Fuck that shit.

[Anonymous No.15175279]

>>15172961
>Merrill Lync
Merrill Lynch. And they don't headhunt for "wealth management positions", those are retail sell-percentage-points they have more people trying get hired for than they need. No job worth headhunting for at Merrill Lynch pays as little as 60k a year. And, those positions are filled from their FADP program, which you can apply for right now, here:
https://www.ml.com/merrill-lynch-advisor/new-advisor.html, without paying some poo or scammer a fee to do it.

You aren't being "headhunted", some poo or try hard "consultant" scraped your email or socials and is trying to scrape a fee off you.

Nobody "headhunts" entry level jobs. Nobody.

Stop falling for email/social media scams.

[Anonymous No.15175305]

>>15175279
oh shit. OP btfo

[Anonymous No.15175390]

>>15175279
well shit nigga then how much fucking money do i need to get paid
who gives a fuck if some try hard douche wad wants a good quarterly review

[Anonymous No.15175426]

>>15175122
I picked defense because I figured it would be something that was recession/meltdown proof and have been putting everything into non equity investments since. I loved investing and wanted to go into that field and even built up the network for it but everything seems so out of whack under the hood of our economies. I don't know why you would want to deal with boomer investments at a time like this unless you are in a real top class family office or something like that. I know people say this every ten years but I don't know how the fuck we can keep the show going at this point. Seems like negative interest rates are inevitable but that also seems incompatible with the advent of btc It's difficult to lessen the blows this time when governments are competing with crypto, even if they manage to reduce the burden on companies using smart contracts or some other form of automation. People are going to really lose faith this time. Everyone can feel that our society is severely fucked up from the past 50 years even if they can't quite place the reason(((s))) why.

[Anonymous No.15175427]

>>15173874
Holy fucking brutal. Take this advice and run op. Not worth

[Anonymous No.15175428]

>>15175390
did you really make this post after getting a recruiter email? kek. that's not a job offer retard.

[Anonymous No.15175473]

>>15172961
Sure thing bud. Anything just to make you forget your pitiful existence.

[Anonymous No.15175506]

>>15175390
>well shit nigga
Well, start by not talking like a retarded 16 year old wigger. Give that a shot.

And, if you're still in college, work harder. You'll know if someone is trying to recruit you. There will be no doubt in your mind, and it won't be by email.

But keep letting us know every time you get the same scammy emails everyone else on your campus gets, during breaks from Minecraft. Because you're on your way, anon! Yep!

[Anonymous No.15175525]

>>15175428
I bet you're fun at parties

[Anonymous No.15175534]

>>15175506
why do i even come here anymore
you're all faggots with low self esteem who can't take shit seriously

[Anonymous No.15175547]

>>15175473
you take that back

[Anonymous No.15175554]

>>15175426
the ride never ends
thanks for ur input fren
all i get are answers from self righteous pricks who think they know it all

[Anonymous No.15175626]

>>15175534
And you're a pathetic troll.

[Anonymous No.15175649]

>>15175626
yeah okay go fuck yourself

[Anonymous No.15175655]

>>15175547
What university do you go to? How are your grades? I and people I know might be interested.

[Anonymous No.15175686]

>>15173874
Nailed it.

WM is a glorified sales job.

I am top 10 MBA who looked into it. It's literally just posers pretending to know the market (hint: they don't)

Remember to get some oliver ppls glasses faggot

[Anonymous No.15175714]

>>15175554
From what I can tell nearly every professional field you choose is starting to show signs of fuckery from a decade of SJW-tier employment policies. Turns out replacing men with women and minorities isn't very scalable. Even in defense, which is a bit of a holdout for old white dudes, I can see it happening. That doesn't even get into the effects on society at large when you have both sexes working full time.
Also >>15175686 is right about WM in particular being posers. I tried to emphasize in my first post that a lot of it is really lame unless you can slip into a more prestigious niche. In general though the people that have clawed their way up over the past 7-10 years are making good money now. I'm willing to bet there are better opportunities out there for you instead of following the same path as them.

[Anonymous No.15175717]

OP btfo

[Anonymous No.15175864]

>>15174842
>have fun getting automated out
>human garbage npcs replaced by based artificial intelligence übermensch
lol

[Anonymous No.15176091]

>>15175714
WMs are basically babysitting retirees and not answering the phone when the stock market takes a shit. They sell percentage points, to the 401k crowd and fixed income crowd. They funnel "ideas" from the real players, to get people to buy into the firm's chosen investments, to drive growth. And nobody is gonna be front line doing that right off that bat, they have training programs, like the one I listed, and you'll go train in a field office, under a senior manager who handles the whales, and makes a yearly check up call to everyone else. They make the rent from the monthly fees herding 401k cats.

But since the OP is a proven troll, /threaddead.

[Anonymous No.15176399]

>>15172961
I'm unironically an employee or Merrill, I work in Brooklyn but my main office is in Manhattan across from the World Trade. Let me begin by telling you that if your starting salary is 60k you're being recruited to work either in a Bank of America branch convincing low IQ boomers and immigrants why they should stop looking for FDIC insured products with shit return and invest in Merrill wrap accounts or you'll be in a middle office where you'll be working with a group of Financial Advisors who have passed the FADP program where you'll be sourcing potential clients for these FAs. Keep in mind these FAs are mostly guys who inherited massive books from their fathers and are entitled pricks.

All in all I would recommend you take the job ONLY if you're interested in personal finance and financial planning and if this will be your first job out of school. Be a good puppet and get your licenses through Merrill, once you do start your CFP which they also sponsor. As soon as you get your CFP and have 2-3 years under your belt get the fuck out of client facing roles. The average Joe you deal with is so fucking stupid speaking to them for more than 5 minutes gives you a migraine. Look into sales training roles through Merrill Academy (the guys who train new guys like you basically) or a role in supervision (the guys who review KYC notes and suitability.)

Good luck buddy and enjoy the next 5 years of wage slaving. You'll learn a lot at the very least.

[Anonymous No.15176498]

>>15173716
this picture is depressing af because I used to live in a ski town at the base of a ski resort with a view just like this and a big titty based blonde gf but fucked it all up and am homeless neet now

[Schiff Will Win !!L6zziHG8/KZ No.15176514]

>>15173240
t. NEET with <$1000 net worth