Morgan Stanley Smith Barney

www.morganstanleysmithbarney.com
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Very unhappy at MSSB in Consulting Group - no recognition, no pay, no opportunities to advance

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

I have been working at Morgan Stanley Smith Barney

Doesn't Recommend
Disapproves of CEO
Doesn't Recommend
Disapproves of CEO

Pros

Name of Morgan Stanley looks good on resume other than that has not been as good as had originally imagined

Cons

Compensation is lower than every other firm anywhere, continue to hire MD's and place people in non-revenue generating roles and cut comp of people actually doing the work

Advice to Management

Get your compensation in line with the street, stop hiring consultants and ex-Mckinsey people to "manage", compensate the people you want to keep, have a vision for where you want to take the business and figure out which people will help you get there

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  1. Helpful (4)

    They offer a Licensing Program, but there is NO TRAINING, the New Jersey training deal is a farce.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Analyst in Overland Park, KS
    Former Employee - Financial Analyst in Overland Park, KS

    I worked at Morgan Stanley Smith Barney

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    MSSB has tremendous products, except lending. Good platforms . Lots of info on the computer systems.

    Cons

    No one cares to help on anything. The coaching program is not good. Really worthless training by a bunch of arrogant New Yorkers. Old time managers do not yet know that most people are on a "do not call list" or always look at caller ID before they take a cold call. No understanding of how to use social media. ABSOLUTELY NO MARKETING.

    They tell you that you are on a two year program and will make $100K if you work hard. That is hooey

    Rules are:

    Pass the Series 7 in two months or you are FIRED !! END OF STORY.

    Pass the Series 66 in two more months or you are FIRED.

    Don't argue with anyone in NJ for your PS1 --- or you are fired.

    Do not make your numbers after three months -- OR YOU ARE FIRED.

    However, I have seen people told to change timesheets so they are not paid overtime, I have seen back dated transactions to save a "favored" FA from being fired. I have seen and experience age related commentary.

    They people manage by fear and nothing more.

    If you have a question -- The answer IS --- It is on the website OR call tech connect. No one in the office other than the CSA's cares to help anyone.

    MSSB says they promote a team concept -- That must be for Martians, it certainly does not apply in Kansas.

    My guess is the failure rate in the FAA program is 95% --- that to me means the program itself is a failure. I have met many people hired at MSSB, and they are good people --- however they are not supported and are doomed by an antiquated system --- WELL THAT IS HOW THE INDUSTRY IS ---
    sure that is how it is, it protects the top dogs by making sure newbies fail. Who gets the accounts when the new ones fail ???????

    When someone leaves or retires --- the account do not go to anyone with less than three years experience ---- Well I hate to tell you but three years at MSSB is a lifetime and no one gets accounts.

    They also use a trailing 12 system so that you are always losing sales off your account base that you did more than 12 months ago. Stupid, but of course they do not tell you that when they hire you.
    IF you do not ask a question, they certainly do not tell you anything. No transparency.

    Advice to Management

    Hire real managers, not just salesmen who think they are managers. DO NOT have producing managers. Know peoples names, introduce new people and help them get aquainted. In 8 months I was never invited to lunch with anyone. The branch manager never took anyone to lunch or had any personal meetings with anyone --- he just flat ass does not care about employees and really has no real desire to be a GOOD manager.


  2. Helpful (2)

    Very Low Comp, No Future Prospects for Growth, Hypocrisy among Senior Management

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

    I have been working at Morgan Stanley Smith Barney

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Great name known throughout the industry, but if you are smart, bright, and hardworking, you will get much better ROI by finding another company to work for.

    Cons

    Comp is getting worse year by year.
    No raises and no bonuses for the majority of employees.
    Hard work is rewarded with praises, but not in compensation.

    Advice to Management

    The system platform is far behind what I saw when I was at Merrill.
    Find competent people to lead technology initiatives.
    The 3D platform is slow and a joke.


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

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