Morgan Stanley Reviews in Chicago, IL | Glassdoor

Morgan Stanley Chicago Reviews

Updated February 8, 2017
23 reviews

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Chicago, IL Area

4.0
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Morgan Stanley CEO James P. Gorman
James P. Gorman
9 Ratings

23 Employee Reviews

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Pros
Cons
  • There is a tough work life balance (in 296 reviews)

  • Long hours to establish business; longer time to establish clientele would be helpful (in 337 reviews)

More Pros and Cons

  1. Helpful (1)

    "Consultant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Institutional Consultant in Chicago, IL
    Current Employee - Institutional Consultant in Chicago, IL
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Morgan Stanley full-time (More than 10 years)

    Pros

    Well recognized brand, strong investment platforms that allow you to utilize outside money managers, mutual funds and ETF's that are priced at competitive level. Strong Institutional devision with Graystone Consulting, that allows financial advisors the ability to select Graystone Consultants that are knowledgable in the $20-$500 institutional space.

    Cons

    Company is not run by people that came from the wealth management. Client experience is not as important to Morgan Stanley as it was in the Smith Barney environment. Managers decision making capabilities in centralized and they branch managers have to manage up. The firm has decided to build its own CRM and performance report which has been very challenging and costly.

    Advice to Management

    Focus on Client experience and service, listen to the employees that service the clients. Stop building multiple large groups that do the same thing and then communicate different messages to the financial consultants. Increase investments to focus on decentralized community philantropic endevours


  2. "CSA"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Contractor - Anonymous Contractor in Chicago, IL
    Former Contractor - Anonymous Contractor in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Morgan Stanley as a contractor (Less than a year)

    Pros

    Consistent and great work hours.

    Cons

    Lack of vertical career movement.

  3. "GREAT PLACE"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President Capital Markets in Chicago, IL
    Former Employee - Vice President Capital Markets in Chicago, IL
    Recommends

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

    Pros

    Professional, Fast paced, Intense, fun, great experience

    Cons

    hard Work, Long Hours, Chaotic, Pressure


  4. "Mundane work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Lukas Cohen Wealth Management in Chicago, IL
    Former Intern - Lukas Cohen Wealth Management in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Morgan Stanley as an intern

    Pros

    Nice people, good company name, great place to start as an intern

    Cons

    Extremely mundane work, you basically are on the phones all day. Not much to learn from.

    Advice to Management

    Get to know, or at least try to get to know your interns because building relationships is vital to better work outcomes, which in the end benefits you.


  5. "finacial advisor"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Advisor in Chicago, IL
    Current Employee - Financial Advisor in Chicago, IL
    Recommends
    Positive Outlook

    I have been working at Morgan Stanley full-time (More than 3 years)

    Pros

    as an advisor you are left alone

    Cons

    Like any big company it moves slowly

    Advice to Management

    stop play with the compensation


  6. "Great Company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Intern - Intern in Chicago, IL
    Current Intern - Intern in Chicago, IL
    Recommends
    Approves of CEO

    I have been working at Morgan Stanley as an intern (Less than a year)

    Pros

    Great place to intern, learn a lot, great FAs

    Cons

    There wasn't a position after my internship

    Advice to Management

    Provide jobs for interns, summer and winter


  7. "wealth management intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Intern in Chicago, IL
    Current Employee - Intern in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great team that strives to associate you with accurate information regarding markets

    Cons

    Hours can be a little overwhelming

    Advice to Management

    Be more hands on in market approach

  8. "Wealth Management Intern"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Wealth Management in Deerfield, IL
    Former Intern - Wealth Management in Deerfield, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Morgan Stanley as an intern (Less than a year)

    Pros

    I had a great experience with the team of financial advisors I was assigned to. They were all extremely nice and welcoming, as well as supportive and open to discussing anything that I asked.

    Cons

    The financial advisors did not give me that much work to do, so I got bored a good amount of the time. The most important thing that I was assigned to do was to monitor the different mutual funds that pitched their financial products during lunch time.


  9. "A great working environment and experience at MSWM"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Wealth Management Intern in Chicago, IL
    Former Intern - Wealth Management Intern in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Morgan Stanley as an intern (Less than a year)

    Pros

    -Team-centered, collaborative atmosphere with a good balance of hard working yet friendly, sociable colleagues.
    -Good work-life balance with steady 8-5/6 hrs. Latest could expect to be out is 7-8pm.
    -Relaxed environment yet high performance expectations. You are expected to self-manage and a high degree of employee discretion with workload/reporting.
    -Great exposure to both analytical and client facing responsibilities as an intern.
    -Entrepreneurial environment with much potential to really excel up and receive recognition by both team and institution for outstanding work.
    -Good firm culture -- mutual respect amongst employees, flat hierarchy with easy access to MD, ED and branch Management.
    -They treat their people well, not necessarily salary wise, but as a matter of paying due respect.

    Cons

    -Rigid, established management and difficult to implement improvements to archaic processes, as is custom with large institutions.
    -No formal training process, and hence new employees/interns are left out of the loop on basic things that require some training to pick up.
    -The process of hiring interns could be more efficient.

    Advice to Management

    Formalize an intern-hire process, or at least offer a path of least resistance for (well performing) interns to pursue other opportunities within the firm.


  10. Helpful (1)

    "Wealth Management -- Financial Adviser Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Advisor in Chicago, IL
    Former Employee - Financial Advisor in Chicago, IL
    Positive Outlook
    Approves of CEO

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

    Pros

    Great training, unlimited resources, free reign to build your book

    Cons

    Name recognition a detriment with accounts under $1M, you must build your book fast and you must have a huge pipeline ready to drop before your production date.

    If you fail out it's because you underestimated client acquisition and the sales cycle.


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