Merrill Lynch is a company based in Pennington, Nj that has hired a total of 2,580 H1B Visa Employees as of May 2023 across 15 locations, with the majority of hires in NY.
The primary jobs hired include Software Developers, Applications, Financial Analysts, and Computer Systems Analysts.
The average salary at Merrill Lynch for the jobs listed above is $94,787.04.
This company has mostly hired people from the Commercial Banking industry
The company has been hiring employees since at least 2011 , and the number of H1B employees has been decreasing over time, while the average salary has been rising over time.
Merrill Lynch has an H1b Visa approval rate of 91.98% .
Merrill Lynch
1500 Merrill Lynch Drive
Pennington,
NJ
2,805
$94,758.73
2,580 Approved
29 Denied
196 Withdrawn
| Job Title | Job Location | Salary | Number Of Jobs |
|---|---|---|---|
| Logisticians | Charlotte, Nc | $42,078.00 | 1 |
| Risk Management Specialists | Jersey City, Nj | $131,685.00 | 1 |
| Credit Analysts | New York, Ny | $136,885.00 | 1 |
Merrill Lynch has been in the H1B Visa program since 2011 where they hired 157 employees. They peaked in 2019 with 324 employees, and have since been on a decline with the most recent number of employees being 15 in 2023.
Merrill Lynch has been in the H1B Visa program since 2011 where the average salary was $86,275. They peaked in 2022 with an average salary of $115,254, and have since been on a decline with the most recent average salary being $94,309 in 2023.
| Job Title | Visa ID | Job Salary | Job Year | Case Status | Normalized Worksite State |
|---|---|---|---|---|---|
| Financial Analysts | I-200-23125-996453 | $123,698.00 | 2023 | Certified | Fl |
| Operations Research Analysts | I-200-23118-976286 | $80,413.00 | 2023 | Certified | Ny |
| Market Research Analysts And Marketing Specialists | I-200-23100-917083 | $54,725.00 | 2023 | Certified | Fl |
| Financial Analysts | I-200-23093-899757 | $123,698.00 | 2023 | Certified | Fl |
| Financial Analysts | I-200-23088-885904 | $105,331.00 | 2023 | Certified | Ny |
| Statisticians | I-200-23191-176524 | $104,603.00 | 2023 | Certified | Ny |
Merrill Lynch is a subsidiary of Bank of America, headquartered in Red Bank New Jersey. Merrill’s employs top wealth management advisors that meet with clients to develop strategies for their financial futures. Employees assist with retirement income planning, guidance on concentrated stock positions, traditional investments and estate planning services while working with estate and tax attorneys. The way Merrill’s advisors go about this is by helping clients identify their personal and professional goals, taking factors such as lifestyle and multi-generational issues into account. Merrill Lynch practices transparency when it comes to advising their clients, allowing them to have access to the knowledge and experience of industry-skilled advisors along with technological resources.
Merrill Lynch also carries hefty credentials with them being named the Top Global Research Firm seven times over the past decade, along with around 70 advisors being recognized by the Financial Times Top 400. Yet, with all of their success, the company claims to feel the need to “give back” with employees involved in non-profit organizations to benefit their communities and local causes. Recently, Bank of America put out a Q&A for those looking to open up philanthropic sectors and businesses during the pandemic. Such suggestions include donating to hospitals to placing investments in clinical research.
Merrill Lynch has been ranked as the 148th among visa sponsoring companies with most hailing from India. According to My Visa Jobs, from 2017 to 2019 Merrill Lynch filed 972 labor condition applications for H1B visas and 127 labor certifications for green cards over the fiscal year. Through the website Immihelp.com, the majority of jobs assigned to foreign workers are analyst and associate positions from 2018 until now, yet that may soon change with the signing of an executive bill this October.
Many of the jobs that Merrill Lynch outsources come from out of India, with 141 H1B foreign worker profiles currently under PERM. The most popular jobs at Merrill Lynch are that of Tech Program Associate Officer, Tech Program Analyst Officer, and Financial Analyst.
The function of a Tech Program Associate Officer is to plan, install, and manage programs for fundraising enlisting support from government agencies, along with setting up budgets and developing reports annually. Needed degrees for this job may vary, but many companies look for a degree in international studies. Other aspects a corporation like Merrill Lynch is looking for in concerning this job are knowledge in word processing and spreadsheet software, having strong writing skills, and having the fortitude to work on multiple necessary tasks and work under tight deadlines. A Tech Program Analyst Officer has similar details to their Associate counterpart, that is devising new company programs and setting up budgets, with similar qualifications needed. Where the positions differ is that analysts have to determine corporate guidelines while not bringing down company profit, identify program data needs, and attend meetings for company strategy. Lastly, Financial Analysts determine operation/program costs, overlook and resolve transactions, and do some form of database maintaining. Qualifications would obviously ask for a degree in the realm of finances, but also have some technical knowledge.
Like any good company, Merrill Lynch seeks to be a well-oiled machine that serves its customers indefinitely. Most of the jobs the company is outsourcing offshore deal with the analytic field. With being a financial advisor organization, it should come as no surprise that analytic roles would play a major part in both local and foreign facilities. Obviously, this would require sifting through a large amount of data and carefully picking what is relevant to a specific client. In our modern age, we do have machines and programs that pick through data for us, but being an advisor requires a kind of intuition beyond numbers.
Again, Merrill Lynch operates as a financial advisory firm, so it stands to reason that they need the best advisors and analysts. When it comes to undertaking major projects or starting up a small business, Merrill’s Financial Analysts can determine what economic decisions their clients make that would benefit them. Then, Merrill’s Tech Analysts can set up the proper budget and establish the right contacts for whatever project the client is trying to execute for their business. Later on, Programmer Associates will design whatever network the business needs or develop new applications to make it run better.
According to the research conducted by CNBC, the reason that most H1B workers hail from India is because both Indian and multinational IT companies work on U.S. contracts. However, this year President Trump has decided to sign an executive order to restrict temporary work visas. His reasoning for this is in response to apparent “high unemployment rates following business closures on account of the Covid-19 pandemic”. Immigration lawyers have stated that this won’t affect many workers within the U.S. on IT contracts, but those applying for or renewing their visas may run into complications from October to the end of the year.
While this may seem damaging to the slew of foreign workers that are currently employed at Merrill Lynch currently, the company has been criticized in the past for how it has treated their H1B workers. Sites like www.pissedconsumer.com contain over a dozen comments complaining about Merrill Edge, the program utilized for personal investing, going back to 2016. The main complaint appears to be centered around a policy that restricts H1B workers from opening an account form here. Going back further, Bloomberg put out an article in 2009 wherein Raj Godhania, a technology worker who had been working with Merrill Lynch for over a decade was fired shortly after moving his family to the U.S. on a Level-1 Visa. Furthermore, moving expenses were not paid, and neither he nor his wife possess the paperwork to qualify working in the U.S. or filing for unemployment due to their British citizenship.