Essay on Merrill Lynch Internship Experience

Essay on Merrill Lynch Internship Experience

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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 D.C. area. Offices in Annapolis and Baltimore are greater in numbers and advisors. The Towson region only has about fifteen advisors and four client assistants. However, almost all of those advisors started their careers in Baltimore. The Towson office was for more established advisors who already have a distinguished client list. Because the office was much smaller, I was the only intern for the summer, which proved to have both its ups and downs. On one hand, being the only intern gave me more responsibility. I had the privilege to meet with all the advisors, giving me new perspectives on how the job is done. However, on the contrary, it also meant that I did not have a defined job description. For instance, each advisor would have different tasks for me to perform. Nonetheless, this experience proved to be beneficial.
Although I had to carry out numerous tasks, there are several that were more important than others. During my first week, I began running Client Review Centers (CRC). This was a task that I regularly executed for nearly all the advisors. When a client comes in for a meeting, the financial advisor needs to show the progress their client has made over the years with Merrill Lynch. The Client Review Center gives the entire client's general information: the diversification of their portfolio, the amount of change his portfolio has undergone, and the client's total assets. In...

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...sses, but to a greater extent. For example, I learned the differences between the Individual Retirement Accounts (IRA): the Traditional IRA, Roth IRA, and the SEP-IRA, which I went into detail in my journals. It was shocking to see how much the finance classes I took actually drew a parallel to the work I did during my internship.
For eight weeks, I gave up the traditional summer activities. Rarely did I see my friends, go out to social events, nor did I have spending money. I gave up two months because I knew the reward would be much greater than the risk. The sacrifice I made seemed immense at first, but I know that this can only help me in the future. I am truly grateful for the opportunity and recommend this internship to anyone willing to make the sacrifice as well.

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