Merrill Lynch
Merrill Lynch
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Assessment Day
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Credit Crisis 2008: WikiJob is unable to verify any of the information on pages relating to Merrill Lynch of Lehman Brothers because of the unprecedented financial events of 2008. We will edit these pages as and when we have further information.
Merrill Lynch is an investment bank that provides capital markets services, investment banking and advisory services, wealth management, asset management, insurance, banking and related products and services on a global basis. There are more than 50,000 employees in 36 different countries. The company currently holds over £293bn of assets under its management worldwide.
Merrill Lynch was founded by Charles E Merrill and Edmund C Lynch, who met at the New York YMCA in 1907, shared a boarding-house room together, before starting a business partnership.
Core Business
[Edit]Merrill Lynch core lines of service are:
- Global Markets
- Investment Banking
- Private Client Services
- Investment Management
Graduate Programme
[Edit]About 140 graduates are hired every year in the UK, divided into the firm's key divisions:
- Global Markets
- Global Investment Banking
- Global Private Client
- Global Research
- Technology
- Human Resources
Of these, Investment Banking has the largest intake.
Merrill Lynch graduate programmes start with an intensive two-month training and orientation programme at the company's global headquarters in New York, no matter where you are planning to work. Training includes an introduction to financial markets and an overview of core key business-skills. There is also a computer training course, and one week of preparation and tutorials for the Financial Services Authority certification exam. You will subsequently return to your local office which for most European Merrill Lynch recruits is likely to be London. Other principal European offices are in Dublin, Frankfurt, Madrid, Milan, Paris and Moscow.
Whilst on training graduates are paid the normal ML salary and provided free accommodation whilst living in New York.
Graduates are reviewed at the end of two years' service and are given contract extensions if promoted. Just over 80% of graduates have their contracts renewed.
Merrill Lynch interview questions
Credit Crisis 2008: WikiJob is unable to verify any of the information on pages relating to Merrill Lynch of Lehman Brothers because of the unprecedented financial events of 2008. We will edit these pages as and when we have further information.
Application Requirements
[Edit]You will need to show recruiters that you are highly ambitious, confident and highly motivated to succeed. You’ll be a natural team player with a desire to work in financial services. Whatever your academic background, you'll need to show that you have an inquiring mind by asking lots of pertinent questions and that you can communicate complex messages in a clear, simple and articulate way. Relevant work experience and foreign languages are also an advantage.
Application Process
[Edit]The application process for full-time jobs and summer internship programmes opens in September and closes in mid-December. Offers are made as early as possible during the school year with full-time offers usually completed by December and summer offers by March. It takes the following format:
- Online Registration
- Online Application
- Online testing
- Interview/Assessment Centre
Online Application
[Edit]Merrill Lynch operates an online application process which includes online tests. Practice tests are available if required on the Merrill Lynch website.
Applications can be made via the website.
Questions at this stage will include:
- Describe a major piece of work undertaken during your undergraduate degree course.
- Why you think that you are a strong candidate for this programme.
- Why you are applying to this particular business division of Merrill Lynch and why you have chosen to apply for a role in this location.
Any additional information to support your application
Online Testing
[Edit]This is in two parts and will test your numeracy and analytical thinking.
Part One
The first part of the test will ask you to provide relatively concise answers to difficult numerical based questions. Once you have completed this test, you will be informed almost immediately by email if you have been successful.
If you have passed this section of the test you will be invited to complete the second, more drawn out, psychometric section.
Part Two
If successful at this stage, you will be invited to a first round interview, this is usually an hour long interview that involves sitting another longer numerical reasoning test and a 45 minutes one on one technical interview with a representative of the division you are applying for.
Online Application Form
[Edit]Questions you will likely find on the application form:
- Describe a major piece of work undertaken during your undergraduate degree course (please limit your answer to 150 words)
Personal Statement: Please use the space below to describe in less than 400 words:
- Why you think that you are a strong candidate for this programme.
- Why you are applying to this particular business division of Merrill Lynch and why you have chosen to apply for a role in this location.
- Any additional information to support your application
Interview/Assessment Centre
[Edit]If successful at the first round interview, you will be invited to attend the assessment centre that involves the following activities.
- Numerical test
- Case study
- Trading game
- Presentation
- Interview(s) with executive director(s)