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There are newer employer reviews for Morgan Stanley

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Morgan Stanley, a good place to work - if you can handle working for a large sized company.

  • Comp & Benefits
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Associate in New York, NY
Current Employee - Associate in New York, NY

I have been working at Morgan Stanley

Recommends
Approves of CEO
Recommends
Approves of CEO

Pros

Salary and benefits are excellent. Company follows through on their committment to balancing work / life issues with real incentives and suggestions. They also support additional training or education efforts with their wallet - not just lip service.

Cons

Everything you might want to do - no matter how large or small - requires you know the policy, and follow it. Need a new PC? New PC arrived with 2 business days. The staff to set it up (must be union person) - 5 weeks. On the plus side - it's usually pretty easy to find the policy - very good search features on intranet.

Advice to Management

Not applicable

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  1. Helpful (1)

    Stable, good pay, great work-life balance, becoming a telemarketing job

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor (Client Advisory Center- Salary With Bonus) in Columbus, OH
    Current Employee - Financial Advisor (Client Advisory Center- Salary With Bonus) in Columbus, OH

    I have been working at Morgan Stanley

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Positive corporate culture (gender equality initiatives, employee appreciation and performance-based incentives), great benefits (best medical benefits package I have ever seen, great employee discounts at dozens retailers/etailers and okay employee discounts on brokerage accounts) and vacation package (I got 3 weeks to start, now new hires only get 2 weeks to start- you get the vacation as of Day One), great professional development opportunities, open-door policy with senior management, great work-life balance, I get a salary plus bonus instead of commission-only.

    Cons

    Pay may be lower than that of other companies (this may be offset by great work-life balance), my office is several states away from New York City, so advancement opportunities are nonexistent unless I were to relocate to NYC, and I am not relocating to that overpriced place unless my salary were to at least triple. Going from a customer-service business model to a hard-core telemarketing business model- this is causing significant turnover and eroding morale.

    Advice to Management

    Since you are obviously changing our business model from customer-service to hardcore telemarketing, have the courage to come out and say it. Your vague platitudes and assurances about the integrity of our business model is nothing more than a house of cards. The Emperor wears no clothes!

  2. Helpful (4)

    Recently deposed IT staffer tells all

    • Comp & Benefits
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - IT Associate in San Francisco, CA
    Former Employee - IT Associate in San Francisco, CA

    I worked at Morgan Stanley

    Doesn't Recommend
    Disapproves of CEO
    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.

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

See Most Recent

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