There are newer employer reviews for Morgan Stanley
There are newer employer reviews for Morgan Stanley

See Most Recent

Helpful (4)

Recently deposed IT staffer tells all

  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - IT Associate in San Francisco, CA
Former Employee - IT Associate in San Francisco, CA
Doesn't Recommend
Disapproves of CEO

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 Management

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.

Other Employee Reviews for Morgan Stanley

  1. Helpful (1)

    Stay away from the RFE Program unless you are a sales superstar.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor Trainee in Columbia, SC
    Former Employee - Financial Advisor Trainee in Columbia, SC
    Doesn't Recommend
    No opinion of CEO

    Pros

    Morgan Stanley is a very large company with alot of advancement opportunities.

    Cons

    I chose to be a financial advisor trainee and the turnover rate for this position is nearly 80% and are basically given 3 months in production to make or brake an almost impossible sales goal. If you know alot of people with money you should have no problem. Managers also treat you as the statistic just to meet hiring goals. Great opportunity for the right person but just don't get to comfortable unless you are a sales superstar.

    Advice to Management

    Make it more possible for someone to succeed as a financial advisor other than 3 months.


  2. It used to be great and could be again if management start rewarding results again

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President
    Former Employee - Vice President
    Doesn't Recommend
    Approves of CEO

    Pros

    Morgan Stanley still has the best IT infrastructure on the Street Four weeks vacation standard isn't bad for a US company The real Morgan Stanley people are top notch Good benefits In the right areas - fantastic esprit de corps

    Cons

    After the Dean Witter takeover it stopped being a meritocracy There have been a lot of great people forced out, e.g. Guy Chariello In the wrong areas it is full of cronyism and superficial congeniality - if you are a type A that cares about results and working hard to achieve them it will wear on your soul after a while

    Advice to Management

    Recognize talent and reward it. Recognize those that get results even if it means shaking things up and makeing know-nothings and slackers off feel uncomfortable - they should be uncomfortable because they are taking up space that someone who wants to be productive could be taking! Fire the dullards that want to keep an maintain a culture of superficial congeniality within MSAM IT and replace them with dynamic leaders that recognise BS when they see it.


There are newer employer reviews for Morgan Stanley
There are newer employer reviews for Morgan Stanley

See Most Recent

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.