There are newer employer reviews for Morgan Stanley

Merit-based, high-performing, low bureaucracy IT organization

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Former Employee - Associate in New York, NY
Former Employee - Associate in New York, NY

I worked at Morgan Stanley full-time (more than 3 years)

Recommends
No opinion of CEO
Recommends
No opinion of CEO

Pros

The most capable and talented co-workers I have ever had worked at MS. The pay is high for software development work. Promotions are frequent, merit-based, and often from within the group. The hours are very manageable (high 40s-low 50s per week). One of the most pleasantly surprising things was how little bureaucracy there was for such a large organization. The goal is to enable the business group to make money and most things that are extraneous to that goal are eliminated. (This is based on 4 years in the Fixed Income software development group)

Cons

A relatively large percentage of the compensation was distributed through year-end bonuses. Those were based both on performance reviews and the profitability of the business group for which your team worked. If either your performance reviews or your group's profitability suffered, your bonus would suffer, too. That said, that was the standard compensation model for the finance industry and was no different than any other finance firm.

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  1. Helpful (4)

    Treats employees poorly

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY

    I have been working at Morgan Stanley full-time (more than 3 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Free coffee. A great brand name that now is losing its luster as talented people are leaving in droves.

    Cons

    Despite getting the highest of performance ratings, I have not had a bonus since I joined the firm. They have told me each year that after the integration expenses are behind us, you will get what you deserve. And now that integration is over, the new story is that there are other expenses that were unanticipated.

    The technology on the wealth management side is crap. FAs are frustrated and there is a reason why MS lost the most number of FAs last year of any wirehouse.

    Senior management is so focused on margins, they are stepping on the pay for lower level employees (i.e. VP, AVP).

    Morale is vey low.

    I plan on leaving this firm as soon as I can.

     If you are thinking of working here, try to negotiate a salary you will be happy with for the next three or four years knowing that there will be no pay raise and no bonus.

    Advice to Management

    Don't be greedy. Share the firms success by giving raises and bonuses. Whatever bonus pool and salary raises you do allocate are so low, there is nothing left after the EDs and MDs are paid.

  2. Helpful (2)

    Lack of Opportunities in MS Wealth Management Capital Markets

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Wealth Management Capital Markets in Purchase, NY
    Current Employee - Wealth Management Capital Markets in Purchase, NY

    I have been working at Morgan Stanley full-time (more than a year)

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    + There's been some great people I've met after starting my career on Wall Street over two years ago.
    + Learn a variety of capital market products within a year.
    + If you live in CT or Westchester, the commute is ideal.
    + Nice gym for $15/month

    Cons

    - The managers of this 300 person operation recruit smart Top 20 College seniors to positions promising an opportunity in "Sales and Trading" at Morgan. This could not be further from the truth:
    - No client interface. You are told that your clients are Financial Advisors, who actually 'own' the client relationship. They block your ability to pitch ideas directly to clients.
    - You often become a help desk/support for these Advisors. Need to know how to set up a printer? Call MSWM Capital Markets. Often you may have various trade ideas ready and waiting, but get too bogged down in the help desk function of the job to even get a chance.
    -Pay is awful for the work. Despite having to work 12 hours/day and deal with 2.5hr commute. Associate pay is 30% below street average. VP pay is at same level as analysts at other firms.

    Advice to Management

    Increase transparency for job openings on the trading floor.
    Increase communication/ie, stop lying to employees about compensation, layoffs, etc.
    Provide expectations for what sales and traders performance metrics.
    Allow people to transfer to other areas of the firm. Don't trap them there.

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