78% of the CEO
James P. Gorman
Pros – I worked in Securites Operations and I can honestly say I cannot think of 1 pro - I had a miserable time there
Cons – Far too much focus on bell curve management and inexperienced managers who have never worked anywhere else trying to mange people using powerpoints from senior leaders.
You have to be in the 'in crowd' or have a military background to progress.
Compensation - you feel its bad when you are there, but that gets confirmed it when you leave for a 25% increase................
Advice to Senior Management – Replace some of the 20 year Operational Directors who have no other industry experience, who are all scared to leave because of either share options or fear of the unknown - some of these individuals are clueless but manage their teams by creating a culture of fear - disagree with them and you get labelled a 'low performer' - this firm doesn't encourage free thinking.
Pros – Salary while training for basic Series 7, 66 etc.
Cons – My advanced skills were effectively thrown in the garbage, even after transferring my CTA registration to the firm. The local office of the firm wanted me to sell mutual funds, not permitted to talk to corporate treasurers like I used to do, or do any sophisticated financial transactions in FX, futures or options, EVEN FOR MY OWN ACCOUNT. DO NOT WORK in retail brokerage if you are a former bank trader of billions per week. Local office of firm also refused to transfer me to a more appropriate venue in New York which could use this skill set.
Advice to Senior Management – Get a clue.
Pros – Standard investment banking training makes you really good at finance and accounting
Morgan Stanley's name always got the attention of anyone who looked at my resume
Superficial attempts at making the culture better
Cons – Where to begin...
Awful culture. Described on Wallstreetoasis as "dog-eat-dog snake pit" - very accurate description from my experience as well.
No sense of camaraderie, analysts treated like sweatshop workers (senior bankers recruit by picking those who they think can churn out the most work, no regard for cultural fit)
Extremely judgmental and high pressure / stress-inducing culture from senior bankers
No one cares about your development or exit opportunities, they just want their work done
Split into Corp Finance and M&A group; unfair to Corp Finance analysts who don't get as much technical exposure or any deals on their resumes
Don't expect to be able to recruit outside of California
Four analysts quit within a 6 month period of working there (out of 10 analysts)
Advice to Senior Management – Don't be so judgmental, and don't be terrible to work with if you don't have to be
Pros – Good name on CV but trust me nothing else. I hated every second from day one
Cons – Worst company i have ever worked for. Depressing and unbelievably rude people. I thank God everyday that I managed to leave!!
Advice to Senior Management – Care about your people not just your payslip
Pros – The pay was good, office hours were good and the management was nice to work for.
Cons – I worked at their Client Advisory Center which was a big title for a call center. Morgan Stanley is a horrible company to their smaller net worth clients. If you had less than $100,000 invested with them, their local financial advisors no longer got paid anything for them so they were encouraged to send them to the call center. The smaller customers get ripped off completely with very high low balance fees and terrible customer service. The training was horrible, and the ethics of Morgan Stanley are non-existent. Many of the smaller net worth clients were not very financially educated and Morgan Stanley took advantage of this. We were not allowed to tell them about the fees they were getting charged, only if they happened to look at their statement and notice the rip off. If we brought the fee structure up to the customer we could get fired. They charged these outrageous fees and hoped the customers would ignore their statements or just not savvy enough to figure it out. Horrible horrible company to work for and worse for their unwitting clients.
No, I would not recommend this company to a friend
1 person found this helpful
Pros – Great for recent grads to gain experience.
Cons – Zero compensation in operations.
Starting salaries are very low, you won't make up money unless you leave company
Won't match other company's offers
Experience employees who do leave, get replaced with Temps, FTE who stay get more work.
Promotions do not come with compensation, never heard of that one.
Advice to Senior Management – start paying competitive wages.
Pros – Street name recognition, local management pleasant and sound interested.
Cons – Unreliable IT, treat support staff badly, understaffed.
Advice to Senior Management – Allow regional and complex managers to make decisions with more autonomy instead of individuals vastly removed from facts making career decisions.
2 people found this helpful
Pros – Can't really think of much. Free coffee?
Cons – Horrible management style. Miserable employees. Weak compensation. There wasn't a smile in the whole place. MS is a dinosaur of a corporation that needs to revamp their management style/corporate culture to get in touch with the 21st century.
Advice to Senior Management – Treat your employees like human beings!
Pros – can be supportive work environment, flexibility if someone can "pull some strings"
Cons – A lot of foot soldiers
Advice to Senior Management – I'm guessing most of them aren't the types to really seek out advice on how to do their jobs better
Pros – nothing nice to say so I won't say anything and that's all I have to say, so 20 word minimum is a hard thing to do when you don't have anything nice to say.
Cons – no team work, managers have no clue
Advice to Senior Management – get a clue
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No thanks –