Topic > Merrill Lynch Internship Experience - 1771

This summer I was offered an internship for Merrill Lynch in my hometown of Towson, Maryland. For eight weeks I worked five days a week for an average of thirty hours. There are numerous Merrill Lynch offices in the Baltimore and Washington DC area. Offices in Annapolis and Baltimore are larger in number and consultants. The Towson region has only about fifteen counselors and four client assistants. However, almost all of these consultants began their careers in Baltimore. The Towson office was reserved for more established consultants who already have a list of distinguished clients. Since the office was much smaller, I was the only intern for the summer, which had its ups and downs. On the one hand, being the only intern gave me more responsibility. I had the privilege of meeting all the consultants, giving me new perspectives on how the work is done. Conversely, however, it also meant that I didn't have a defined job description. For example, each consultant would have different tasks to perform. However, this experience proved useful. While I have had numerous tasks to complete, there are some that are more important than others. During my first week, I started managing Customer Review Centers (CRCs). This was a task I performed regularly for almost all consultants. When a client shows up for a meeting, the financial advisor must show the progress the client has made over the years with Merrill Lynch. The Client Review Center provides general information about the entire client: the diversification of their portfolio, the extent of changes their portfolio has undergone, and the client's total assets. In the... middle of the paper... yes, but to a greater extent. For example, I learned the differences between individual retirement accounts (IRAs): the traditional IRA, the Roth IRA, and the SEP-IRA, which I delved into in my journals. It was shocking to see how much the finance courses I took actually paralleled the work I did during my internship. For eight weeks I gave up traditional summer activities. I rarely saw my friends, attended social events, or spent money. I gave up two months in because I knew the reward would be much greater than the risk. The sacrifice I made at first seemed immense to me, but I know that this will only help me in the future. I am truly grateful for the opportunity and recommend this internship to anyone willing to make the sacrifice.