Morgan Stanley Smith Barney

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Morgan Stanley Smith Barney Reviews in New York City, NY

Updated August 14, 2014
Updated August 14, 2014
472 Reviews

3.2
472 Reviews
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Morgan Stanley Smith Barney President Greg Fleming
Greg Fleming
139 Ratings

Review Highlights

Pros
  • Additionally, the hours are extremely good and able to maintain a great work life balance (in 11 reviews)

  • Good benefits/PTO, fast-paced learning environment, great advisors (in 21 reviews)


Cons
  • There is a disconnect between the companies desire for Financial Advisor Associates to succeed and their actions (in 20 reviews)

  • Invariably, unless you are part of a team you will not make it through the training program (in 13 reviews)

More Highlights

110 Employee Reviews Back to all reviews

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  1.  

    Company does not have a clear vision for their international wealth management business

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

    I worked at Morgan Stanley Smith Barney full-time for more than 3 years

    Pros

    Brand name, Smart people, pay

    Cons

    Impersonal, unclear vision for the international wealth management business

    Advice to ManagementAdvice

    Define international wealth management strategy

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Senior management is great at patting themselves on the back.

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

    I have been working at Morgan Stanley Smith Barney full-time for more than 3 years

    Pros

    Free coffee. Motivational posters in the elevators speaking about how great the company is doing.

    Cons

    No raises or bonuses in the three years I have been there, despite having the highest possible performance reviews.

    The CEO is an arrogant man full of himself. The level of disregard he shows to the employees is astounding but is rewarded by the board.

    Any kind of promotion within the firm is by title only. HR refuses to bump up salaries equal to the new title.

    Only way to get head from a salary stand point is to leave for another role.

    Advice to ManagementAdvice

    Pay your employees fairly. Cost of living has gone up, but pay has been stagnant for years. If you are raking in millions in bonuses, there needs to be some level of fair incremental raise for the rank and file employees as well.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  3.  

    The absolute worst, Purchase runs like a warehouse, no leadership, lots of know- it-alls

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

    I have been working at Morgan Stanley Smith Barney full-time for more than 3 years

    Pros

    Location and that's about it.

    Cons

    No transparency, HR isn't knowledgeable or strategic thinkers so you're off on bad footing from day 1. Sr mgmt. often micromanages, never any recognition or rewards. Negotiate salary upfront because that's all you're getting. The Purchase building is rundown. Needs a facelift along with archaic technology and programs. Hard to believe this is a financial institution. Operates more like a warehouse. Revolving door of know-it-alls.

    Advice to ManagementAdvice

    Leave and get a new job elsewhere. I hear McDonald's is hiring.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5.  

    Morgan Stanley

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Wealth Management IT  in  New York, NY
    Current Employee - Wealth Management IT in New York, NY

    I have been working at Morgan Stanley Smith Barney full-time for more than 5 years

    Pros

    Not too much that is positive in this company. Culture integration with joint venture not solidified.

    Cons

    Poor morale, lots of cliques, and with constant lay offs, we're always wondering when it will be our turn. Company values consultants more than employees. I've seen too many incompetent staff promoted, because of favoritism or senior positions go to outside hire, again to people who know the hiring manager.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    Treats employees like commodoties

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst  in  New York, NY
    Former Employee - Analyst in New York, NY

    I worked at Morgan Stanley Smith Barney as a contractor for more than 3 years

    Pros

    - Good infrastructure.
    - Good hardware to get the work done but bad support structure.

    Cons

    - very bad focus on the process management
    - opaque access to management
    - manager knows to play politics - sides the subordinates and then flips coin to his manager,

    Advice to ManagementAdvice

    - learn to treat people as humans not commodites

    Doesn't Recommend
    Negative Outlook
  7. 1 person found this helpful  

    No one is happy working there, from top down.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Software Engineer  in  New York, NY
    Current Employee - Senior Software Engineer in New York, NY

    I have been working at Morgan Stanley Smith Barney full-time for more than 3 years

    Pros

    When you have nothing to do, it could last a very long time, flexible working hours.

    Cons

    no room to grow, very unhappy employees, no bonus, no raise, no nothing, one can only feel happy still having a job.

    Advice to ManagementAdvice

    Terrible management ... wrong culture.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Brain Drain at Morgan Stanley

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software Engineer  in  New York, NY
    Current Employee - Software Engineer in New York, NY

    I have been working at Morgan Stanley Smith Barney full-time for more than 5 years

    Pros

    - Good Training Programs
    - Flexible work schedule
    - Ability to work from home
    - Good Pay

    Cons

    "You will loose your skills, dignity and job over a period of time"

    Career prospects in IT are bad. Morgan Stanley is an outsourcing factory. They hire people in India, transfer knowledge to them then lay you off. Most people in IT feel they are the next lamb of slaughter. This is how it works. They will introduce you to a few consultants, then they will ask questions about application and you will help them set up.. They will then be assigned new tasks and you will help them cross train. Slowly they will do the work and you will be on sidelined. After 6-12 months when management feels consultants know most of the application, you will be marked for layoff. Consultants then will be hired as full time employees at Morgan Stanley in India. My colleagues who have been with firm for 15-20 years are now training their replacements.

    It is a terrifying situation for technology professionals.

    If you are an IT professional, go somewhere else.

    Advice to ManagementAdvice

    Hire from India, NOT from Cornell, MIT, Columbia and NYU, only to suck their productivity and lay them off. You have made this company cheap!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 2 people found this helpful  

    The company is imploding. Stay far away.

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

    I have been working at Morgan Stanley Smith Barney

    Pros

    The firm has good name recognition.

    Cons

    - Management is terrible
    - Don't care about clients
    - Push product
    - Excessive fees charged to clients
    - Bureaucracy: Layers and layers of management that don't do anything
    - Training programs is just silly.

    Advice to ManagementAdvice

    Focus on taking care of your clients instead of pushing product, nickle and diming your clients, and treating FAs like second class citizens.

    Doesn't Recommend
    Disapproves of CEO
  10.  

    Very unhappy at MSSB in Consulting Group - no recognition, no pay, no opportunities to advance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    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

    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 ManagementAdvice

    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

    Doesn't Recommend
    Disapproves of CEO
  11. 1 person found this helpful  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    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

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Disapproves of CEO

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