Morgan Stanley

  www.morganstanley.com
  www.morganstanley.com

Morgan Stanley Reviews in Purchase, NY

Updated July 26, 2014
Updated July 26, 2014
1,770 Reviews
3.5
1,770 Reviews
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Morgan Stanley CEO James P. Gorman
James P. Gorman
836 Ratings

Review Highlights

Pros
  • Their work life balance policies allow you to work from home when you cannot get in (in 114 reviews)

  • Since it's difficult to get into Morgan Stanley, you'll work with very smart people (in 92 reviews)


Cons
  • Very limited work/life balance, which they claimed was very important to them (in 106 reviews)

  • Long hours in the operation department when the market is bad (in 118 reviews)

More Highlights

9 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    Many opportunities if you work hard.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President, Product Management in Purchase, NY
    Current Employee - Vice President, Product Management in Purchase, NY

    I have been working at Morgan Stanley full-time (more than 5 years)

    Pros

    Senior management team is excellent. There is alot of mobility if you work hard and go after it.

    Cons

    Compensation is not very competitive.

    Advice to ManagementAdvice

    It's not 2009 anymore, you need to provide better financial incentive.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    It was not my favorite company, at least in my department. It's a big name though and looks decent on your resume.

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

    I worked at Morgan Stanley full-time

    Pros

    The name of the company on you resume.
    4 weeks paid vacation per year.

    Cons

    Boring projects. If you have skills, you will lose them in a few years if you don't keep yourself updated on your own. You really have to like finance to do this job, and I think I don't like finances much unless I'm dealing with my own.

    Advice to ManagementAdvice

    Allow them to be more creative, and listen to them when they say they aren't the one for a particular task. The very LAST thing you want to do is put your creative talent on a project that is going to destroy their morale and make them feel like dying. Hopefully it's not like this in all of the departments.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  3.  

    Great culture with opportunity’s everywhere

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

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

    Pros

    Morgan Stanley went through some tough times during the financial crisis, as did the rest of the industry. With the joint venture behind them it really feels like the company is gaining momentum and heading in a positive direction. The work environment is positive and the people are great.

    Cons

    Morgan Stanley might pay on the lower end (not really sure because I am just relying on hearsay). People always tell me I would be making more money if I left the firm but in my experience the grass is always greener on the other side.

    Recommends
    Positive Outlook
    Approves of CEO
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  5. 5 people found this helpful  

    Horrible Pay and Conditions in 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 3 years)

    Pros

    Great gym. Free parking onsite.

    Cons

    This review specifically applies to wealth management trading floor based primarily in Purchase that covers top Financial Advisors' UHNW, middle market and HNW Clients. The division falsely advertises itself as Capital Markets, that is NOT to be confused with the venerable Global Capital Markets desk in the city that brings deals to the market for major companies.

    Firstly, the horrible compensation ranges say it all:

    After ones first three years, compensation (both base and 'bonus') is far below street avg even within UHNW/how bucket:
    - Analyst ( yrs 1-3): $95k-$120k
    - Associate ( yrs 3-6): $110k- $160k
    - VP ( yrs 6-10): $110-$170k --> you are stuck now and doing exact same work as A2
    ED (yrs 10- infinity): $150-$250k

    In the past four months alone, the unit has lost 12 of its stronger performing analysts, associates and younger vps. It even lost its HR Rep in charge of "retaining talent." One would think management would be inquisitive as to this brain drain, especially when they trumpet the wealth management's staff support's "intellectual capital" as a point of strength in helping the firms top individual Clients. But they have not nor do they seem to care. They recruit finance and Econ majors from schools like Harvard, Brown, Georgetown, BC, Nova etc, train them up over a year period, only to lose many by year three. THE ENTIRE ANALYST CLASS OF 2008 IS GONE; all left to greener pastures.

    Over the last four years, there has been 4 different heads of this division. That's right- MDs in charge of managing a 300 person division that produces a half billion in revenue per year just can't seem to stick around. This volatility at the top trickles down to the next rung of management (EDs and newer MDs) where a culture of solo performance, selfishness, complete lack of communication and mendacity permeates the environment.

    Some examples:

    - Multiple colleagues have told me, and I've heard it myself, that their manager told them that their performance review nor rating does NOT determine ones compensation. When pressed on what actually determines compensation, no manager has ever explained it. If for example you are a trader at the associate or vp level and produced $15MM in PnL for the year, you could very well get a 'bonus' of $20-30k pretax, and a low base; very uncompetitive for a 11 hr/day job with a 1 hr commute each way. This has occurred multiple of times to multiple ppl; don't think you'd be an exception. Regardless, no manager has ever explained the discrepancy between performance and pay. One can only infer it is because the division's management is of extremely poor quality and does not advocate senior execs on the divisions value add.

    - stagnate compensation between analyst-vp. Many second year analysts get paid as much if not more than first-third year vice presidents. One third year associate recently left to lesser competitor and was offered twice their MSWM capital markets total compensation.

    - three star associates who made VP in the last four months left to competitors after they found out their promotion came with a DROP in year on year compensation. They wete doubled at other firms. What kind of management promotes its up and coming officers only to then lower their year on year pay? Bad managers.

    - There is an institutional desk in the city at Broadway and 42nd- where management should encourage relationships and communication to open up, there actually is a policy that says sales staff in Purchase cannot communicate with their colleagues in the city about any market/ job related issue.

    - On top of a traders' PnL not being linked to anything comp related, neither are the sales force's sales commission. A sales person may do proactive trades that generate $10mm in gross credits over a year, but the managers do not attribute that work at the end of the year to that persons' efforts. Instead liken it to something that would have happened anyway. Well, what's the point of having a sales force then.

    If you don't believe those numbers just do a check on glassdoor but select "Purchase" as location, not nyc. If you decide to join this desk despite this warning, realize you will. E joining a glorified help desk

    Advice to ManagementAdvice

    - I've heard a couple managers (ED level) use bigoted slurs that are regarded as homophobic in mainstream professional cultures. They should know better by then. I'm sure
    the you get talent hears this as well and doesn't appreciate it. There is only one female traders and no ethnic minority traders.

    - it is in Purchase. It is a major pain to ever so anything with clients. Management in fact encourages trading personal NOT to get to know clients or do standard things at other firms such as dinner, drinks, etc. as a trader, you have limited if any 'street coverage'. And in sales, you do not actually get to speak directly with clients, instead must go through a Financial Advisor. Integrate personnel there with the main institutional desk in the city.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  6. 3 people found this helpful  

    Look out for number One

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President Operations in Purchase, NY
    Current Employee - Vice President Operations in Purchase, NY

    I have been working at Morgan Stanley full-time (more than 5 years)

    Pros

    Premier investment company. You will get some good experience although the approach is much more segmented. This allows management to plug and play people instead of developing a more broad knowledged individual. This is also why people leave the firm- lack of training and a dead end job.

    Cons

    The company has changed alot over the years- you feel like a number. They don't value effort any more- it's about dollars and sense even if that means putting people in seats that don't know what they are doing to save 20k a head. Sad but that is what the firm has come to. Poor leadership from the top- manage by fear not by what you can accomplish.

    Advice to ManagementAdvice

    You have brought this company to it's knees by the poor approach to it's workers. Yeah there will always be people that want to work at Morgan Stanley- you can get great experience and there are still some good people working there. I would say the average stay of a person who works at Morgan probably went from 10 plus years to under 5.

    Recommends
    Neutral Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    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 an year)

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
  8.  

    Regular

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Anonymous Employee in Purchase, NY
    Current Employee - Anonymous Employee in Purchase, NY

    I have been working at Morgan Stanley

    Pros

    Morgan Stanley has a terrific reputation and is recognized as one of the top financial services firms in the world

    Cons

    Compensation has suffered on recent years and it remains to be seen what impact this will have on Morgan Stanley's ability to attract and retain top talent

    Advice to ManagementAdvice

    I think that senior leaders should focus more on talent and compensation. It is understood that banks now operate in a different environment but at a fin svcs firms there's not much more in terms of competitive advantage than people

    Doesn't Recommend
    Disapproves of CEO
  9.  

    Challenging and stimulating work environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Private Wealth Management Analyst in Purchase, NY
    Current Employee - Private Wealth Management Analyst in Purchase, NY

    I have been working at Morgan Stanley

    Pros

    Intellectual capital, ideaflow, level of expertise among colleagues

    Cons

    voltility in the markets carried into job

    Advice to ManagementAdvice

    they are very receptive to young ideas and perspectives, commendable

    Recommends
    Approves of CEO
  10. 1 person found this helpful  

    A Worsening Picture

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - GWMG Analyst in Purchase, NY
    Current Employee - GWMG Analyst in Purchase, NY

    I have been working at Morgan Stanley

    Pros

    Name recognition, great place to begin, networking

    Cons

    Very difficult to advance, especially to another area of the firm. Too much politicing. Significant differences from department to department in terms of culture, pay, and opportunities. Not a good place to develop talent, as it is underappreciated and under-utilized (not to mention the worst error, underpaid!)

    Advice to ManagementAdvice

    Give more consideration to those working to become established. Make moving on to new areas of the firm a bigger emphasis and one that is more realistic. Currently, dept have no push to look internally before externally. Someone with talent in one area of finance, with the right drive, determination and example, should be successful in other areas of finance just as easily. Also, reinstate the tuition reimbursement program, or at least increase it from the new $10k a yr max (it was 100% reimbursement as early as spring 2008).

    Disapproves of CEO

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