Morgan Stanley - Horrible company! | Glassdoor
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Helpful (1)

"Horrible company!"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Senior Registered Associate in Chicago, IL
Former Employee - Senior Registered Associate in Chicago, IL
Doesn't Recommend
Negative Outlook
Disapproves of CEO

I worked at Morgan Stanley full-time (More than 10 years)

Pros

None to praise about after joint venture with MS. Things just went downhill fast!

Cons

- Healthcare was changed Blue Cross Blue Shield to United Healthcare for benefits... costs went up as well
- Technology and policies cumbersome
- Management does not listen... it's all about the bottom line
- No room for advancement at branch level- approached management to try something new in career- was constantly told... yes we'll work on that, and yet nothing happened. Just getting lip service
- at mercy for advisors to pay you extra and bonuses. Firm base salary very low
- It's all about the FA"s.... operations and other staff are a line item... extra cost for the firm.
- no recognition for doing good work
- absolutely no flexibility for work/home life balance. Only the FA's get that luxury.

after the merger, things only got worse, horrible management, backwards policies, more paperwork.
Overall stressful place to work in. After 15 year at Smith Barney, it was time to leave. Leaving the firm was my own personal decision. It was a dead end job to nowhere.

There was also frustration with FA's in the office as well, they were not listened to by management.
Payout was decreased.... for certain accounts. They are all for pushing their own MS products.
Also frustrating to FA's was the abundance of fees being charged to clients with assets lower than a million.
MS is trying get into Wealth Management and get the million and over clients.... majority of millionaire clients are already established. There first choice would not be MS.... most wealthy affluent people manage their assets with other high end banks that do cater to the rich no fees, elegant offices etc.

MS is a wanna be and they should just give up......

Advice to Management

Recognize your employees for a job well done--- whether it be a lunch, bonus, extra time off.

More flexibility for operational staff and support staff- with work and home life balance.

Increase pay!!!!--- the only people you pay well are the fat cat FA's and managers with insane salaries and bonuses.

Listen to your employees.... however... I take it most of the management are "Yes" people for corporate in New York

Other Employee Reviews for Morgan Stanley

  1. Helpful (2)

    "Pay your employees!!!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Finance Manager in New York, NY
    Current Employee - Finance Manager in New York, NY
    Negative Outlook
    Disapproves of CEO

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

    Pros

    work/life balance
    Flexible with working from home
    does promote internal mobility
    Meet good people

    Cons

    low pay- barely any increase or bonus
    due to low pay.. good people always leave .. so many turnovers. People who stay behind suffer bc they are dumped with all the work and training..

    Advice to Management

    Pay the people.. and recogize the people who deserve it. Not the people who is kissing butt..


  2. Helpful (5)

    "Not a Place To Start Your Career"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor Associate in Chicago, IL
    Former Employee - Financial Advisor Associate in Chicago, IL
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at Morgan Stanley full-time (More than 3 years)

    Pros

    Great benefits
    Autonomy
    Friendly co-workers
    Generous vacation policy

    Cons

    Training program for new FA's is weak at best
    No support after you're licensed.
    Very hard to get a book of business going.
    Probably a great place to end up after you've built a book of business elsewhere.

    Advice to Management

    Management attracts some really great talent but often doesn't work at retaining that talent. The Financial Advisor program is a waste of everyone's time.


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

See Most Recent

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