There are newer employer reviews for Morgan Stanley

4 people found this helpful

Recently deposed IT staffer tells all

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Former Employee - IT Associate in San Francisco, CA
Former Employee - IT Associate in San Francisco, CA

I worked at Morgan Stanley

Pros

Huge, innovative global investment bank with a good reputation. Technology is cutting edge and excellent for an organization that size. Despite market turmoil company is solid and well managed. Growth opportunities exist but usually only for newcomers. Desirable locations for offices to work in.

Cons

Unfortunately many. The biggest downside is lack of security. In my 2 + years there I witnessed severe attrition and laying off. While I can't pretend to know what was going on in each business unit, it did seem that the people who had been with the firm the longest were the first to go. Some well known departments were wiped out and replaced almost entirely. I suspect this is to avoid paying an accruing pension and because of "job performance". The ruthless bankers and managers seemed to be the only ones that survived. Ruthless business I understand, but I've met plenty of successful people who didn't resort to ruthlessness to survive.
I would also have to complain about some of the middle management. Some of the people chosen to serve in the ranks of middle management were flat out incompetent. My department was re-orged entirely, I was told my job had been outsourced, so I went out and got a better job. Some who decided to stay on got fired instead of a new job as a consultant.
All in all, it's a big name shop and if you can get in it's a good place to work, but like a lot of other big name companies, be a little leery of what is "promised" at your interview. You will pay dues no matter where you come from, you will probably not make as much as you thought, and after years of dedication you will probably get pinched. Wish I could be more optimistic but I saw several senior bankers in full crisis mode after losing their jobs when they were obviously planning on retiring from the company. I realize times have changed, but Morgan Stanley doesn't even pretend to honor your time spent there, and to me that kind of sucks.

Advice to ManagementAdvice

Similar complaints from most of us not in management. Underlings are not idiots (at least not all of them). Pay attention to what's happening right under your noses. All banks are in trouble today because small, isolated groups with a lot of authority decided to make some really dumb bets. Question everything, just like you did when you were younger, and avoid the trouble that complacency so often brings.

Doesn't Recommend
Disapproves of CEO
reviews filtered by
  • Any Location
  • Any Job Title
  1. 2 people found this helpful

    Might one day day be good again - Not now!

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

    I worked at Morgan Stanley

    Pros

    Generally has a good reputation in the industry. Compensation levels are comparable to other companies.

    Cons

    Poor leadership and higly stratified environment. A great deal of emphasis placed on title and level. Big differences in what you will experience depending on who your management team is. Very insular and clicky - reminded me of high school.
    You will go through a very long hiring process. Approximately 5 to 10 rounds of interviews depending on group and level. Very hard to get hired from outside above the vice president level.

    There are many different of work life balance programs available, however, they are more likely to be supportive of women wanting modified work arrangements then men.

    In genereal you MUST be very good at navigating internal politics to survive and especially advance.

    Advice to ManagementAdvice

    Give your emplyoees the tools necessary to do the job. Improve your long and mid term planning. Be upfront and forthright with employees.

    Doesn't Recommend
    Disapproves of CEO
  2. some thoughts from a recently laid off employee

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

    I worked at Morgan Stanley

    Pros

    on of the top companies in financial industry. lots of good training is offered. access to a lot of resources. mba is paid for.
    training program if you can get into it is great. great experience that is valued in the industry.

    Cons

    Large company so you feel like a cog in a wheel sometimes. A lot of turnover and turmoil. a lot of red tape. SOX compliance can be very painful. a lot of proprietary technology and internal libraries are used which makes and IT person a lot less marketable. Not a lot of freedom in chosing technology. Everything has to go through an architecture committee which means that a lot of good technologies make it to Morgan Stanley a lot later. Generally hours are long which makes work/life balance impossible. Tough to advance in fixed income IT if you are a woman. In fact most women tend to leave after they start families.

    Advice to ManagementAdvice

    n/a

    No opinion of CEO
There are newer employer reviews for Morgan Stanley

Work at Morgan Stanley? Share Your Experiences

Morgan Stanley

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.