Morgan Stanley Reviews in Chicago, IL | Glassdoor

Morgan Stanley Chicago Reviews

5 reviews

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Chicago, IL Area

1.0
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Morgan Stanley CEO James P. Gorman
James P. Gorman
3 Ratings

5 Employee Reviews

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Pros
Cons
  • work life balance is not very good (in 298 reviews)

  • Long hours to establish business; longer time to establish clientele would be helpful (in 340 reviews)

More Pros and Cons

  1. Helpful (2)

    "Registered Client Service Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Registered Client Service Associate in Chicago, IL
    Current Employee - Registered Client Service Associate in Chicago, IL
    Doesn't Recommend
    Negative Outlook

    I have been working at Morgan Stanley full-time (More than a year)

    Pros

    Occasional free lunch. Mediocre benefits.

    Cons

    Outdated systems, managers with no answers- often they provide an incorrect answer just to feel like they have supplied you with an answer. Very poor organizational culture. A large majority of the staff is miserable. Management doesn't know how to lead and build relationships. There are a few "have's" among the associates and many "Have nots".

    Advice to Management

    Learn how to lead. Learn how to communicate with your financial advisors so they don't walk around the office treating everyone like complete garbage. Act as if you care if this is reported to you. Get a system that works, technology is important.


  2. "Financial Advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

    I worked at Morgan Stanley full-time (Less than a year)

    Pros

    great reputation; lots of products

    Cons

    very little support, training, help for new hires

    Advice to Management

    better support, training, help to new hires

  3. Helpful (2)

    "Branch Examiner"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Legal and Compliance in Chicago, IL
    Former Employee - Legal and Compliance in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Morgan Stanley full-time (More than 8 years)

    Pros

    Ability to move around and learn different aspects of the business.

    Cons

    Management is very unprofessional. They have obvious favorites and treat the other employees poorly. I worked in more than one department and office and had multiple management changes found this to be the case overall. Work life balance was terrible.

    Advice to Management

    Have managers take courses on how to effectively manage employees. Do not promote people just because they have been there a while, promote people who actually earned the promotion.


  4. Helpful (1)

    "Bureaucracy, sub par training, mediocre management, tarnished brand"

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

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

    Pros

    Used to be the brand, the financial crisis, and almost going out of business changed that. Intellectual capital was deep, some of the most intelligent people used to work here.

    Cons

    Change terms of employment contract, compensation agreements, response to correct problems brought to managements attention slow, company stuck with a broken model for wealth management, not willing to change. Too many management layers, resulted in a bloated cost structure, too many people in "senior" management roles who did not contribute to the client experience. Was hard to tell exactly what they did, and why the position existed.

    Advice to Management

    Listen to clients, potential clients, focus on what's important to them, fix your technology, use to leverage, improve the client experience.


  5. Helpful (1)

    "Horrible company!"

    StarStarStarStarStar
    • 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


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