Morgan Stanley - Electronic trading IT areas are a sweatshop, they will promise you bonuses, but will not deliver. | Glassdoor
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Helpful (2)

"Electronic trading IT areas are a sweatshop, they will promise you bonuses, but will not deliver."

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Vice President- ISGT in New York, NY
Former Employee - Vice President- ISGT in New York, NY
Doesn't Recommend
Positive Outlook
No opinion of CEO

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

Pros

Culture as a company is fairly good, Senior management as a whole is competent and does mostly the right thing. This was the best Investment Bank I have worked for (and I have worked for several). There are a lot of good individuals that work there. Management pushed people way too hard, but was at least not malicious. The business is clean- I never felt pushed to do the wrong thing for clients.

Cons

Extremely long hours (~12 hour days on average), no consideration for personal life. Technology division is now 70% consultants, if you are a full-timer, you will be stuck with a lot of weekend work, as they won't pay
consultants on the weekend. It was just exhausting keeping up, I usually went home because I was spent, rarely did I go home because I felt everything was done. If you are full time, don't expect a bonus in technology. Before leaving, I talked to over 10 people who worked in my area, and the best bonus I heard going back to 2006 was $8000. My jaw was on the floor.

The culture was extremely competitive to "hit the date" on projects, and since bonuses (at least the idea of a bonus) were based on how many projects had your name next to them, teammates would not help each other out. Management has the joke on everyone- no one is getting paid, and it doesn't matter how much you killed yourself the past year!

Its a large company, and it was exhausting to get things done sometimes. Pushing on the right teams to get their work done (when you have no carrot to offer them), following all the procedures to get changes out (You see, we are putting new cover sheets on the TCMs this week, did you get that memo?), etc, just sucked the life right out of me.

Advice to Management

Pay your people, respect their time, and stop spending so much time making yourself look good to your boss that you have no idea what is going on day to day in your group. Do not create a culture of "delivery" when you only have one thing to deliver to your employees- a decent bonus, and fail to do so year after year.

Other Employee Reviews for Morgan Stanley

  1. "Management needs restructuring. Salary is less than competitive among industry leaders for sales assistants."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Registered Associate in San Francisco, CA
    Current Employee - Registered Associate in San Francisco, CA
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Good benefits/PTO, fast-paced learning environment, great advisors

    Cons

    No career growth path, minimal annual raises, sluggish management decisions,

    Advice to Management

    Examine your talent pool at the office and let go of anyone unwilling to learn new things or progress. If someone does want to excel, encourage and fuel their ambition.


  2. Helpful (1)

    "Bring relationships!"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Morgan Stanley full-time

    Pros

    - Great autonomy
    - Good funding for marketing events
    - Location great
    - Platform top notch
    - Fair compensation
    - Great leadership
    - a lot more..

    Cons

    - Not a lot of support until you do $150K GDC
    - Cold Caling
    - Poor success rate of new advisors
    - Extreme barriers to entry for new advisors in the industry

    Advice to Management

    - Incentivize teams for growing and taking on new FAAs
    - Don't focus on recruiting talent, its the business model that needs focus. Focus on B2B, leads, and relationship management and drive those relationships to teams.
    - If the business/executive relationships (the basic FA resource) are focused on by the company then people will want to be a part of that. Talent will come to you, and so with their books.


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

See Most Recent

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