Morgan Stanley is a financial investment firm that was founded in 1935 by Henry Morgan and Harold Stanley.
Today, Morgan Stanley is one of the world’s leading financial institutions of its kind.
Basically, their purpose is to take money and make more money with it, for their customers.
They have over 80,000 employees, with 1,200 offices in 41 countries throughout the world, including Canada, Australia, Japan, Germany, and Saudi Arabia.
In 2022, the firm’s total assets were over $1.8 trillion.
Though Morgan Stanley does work with many wealthy individuals, its main clients are banks, insurance companies, hedge funds, and pension funds.
Morgan Stanley is in charge of the money management and investments for these institutions.
In 2019, Glassdoor named Morgan Stanley one of the best places to work, based on reviews posted on their site by employees.
But what do the folks that work at Morgan Stanley really think of the company?
Read on for an in-depth look at the most reviewed pros and cons posted by people on sites like Indeed and Glassdoor.
Table of Contents
- Pros Of Working For Morgan Stanley
- Cons Of Working For Morgan Stanley
- 14 Pros and Cons of Working for Morgan Stanley – Summary Table
- Should You Work For Morgan Stanley?
Pros Of Working For Morgan Stanley
One of the things most employees at the firm agree on is that the benefits are great.
Morgan Stanley offers everyone full medical, dental, and vision coverage, as well as covered prescriptions.
They will also help get coverage for extended family members and friends that are in need.
Additionally, they offer a 401K plan that they match up to 5%.
Life and disability insurance coverage is also included.
All new employees start with 20 days of paid time off.
There’s also paid holidays, vacation time, 16 weeks of paid parental leave plus an additional 6 to 8 weeks post-pregnancy.
There are also programs to support gender-affirming transitions, $75,000 to assist with adoption or fertility treatments, and 4 weeks of paid leave to care for injured or sick family members.
2. Great Company Culture
Most employees at Morgan have great things to say about the company’s culture.
Team members are respected, diversity is welcomed, and most people say they enjoy the atmosphere and are friendly with colleagues.
There is also a business casual dress code which allows everyone to be comfortable yet professional.
Employees also get catered lunches from top restaurants during all meetings and a meal allowance of $35 per day.
The company hosts holiday parties and outings as well.
3. Nice Perks
The perks that Morgan Stanley gives are almost as great as the benefits package.
Tuition reimbursement of up to $10,000 a year is offered to everyone, as well as licensing reimbursement and discounts on graduate school test prep.
Free subscriptions to the Headspace mental health app, on-site healthcare centers, mother’s rooms, 50% off gym memberships, and commuter allowances.
The firm will also help pay for daycare, preschool, and aftercare services.
Then there are the deals on products like cars, computers, cell phones, and clothes.
The perks don’t end there; employees get free and reduced admission to tons of museums, movies, theater performances, and amusement parks.
One final touch is that all new parents receive a solid silver spoon engraved with the child’s name.
4. Tons Of Training And Professional Development
Most of the people employed at Morgan Stanley agree that there are plenty of opportunities to keep up with trends, gain new skills, and hear from experts.
Everyone gets a subscription to The Harvard Review, a full online library of training and informational videos from industry leaders, and tons of in-person workshops led by team members and outside experts.
5. Excellent Colleagues
Most of the employees that left reviews wrote that one of the great reasons for working at Morgan Stanley was their co-workers.
They say there’s a real family atmosphere with most people and a lot of team collaboration.
Everyone is willing to help each other out and that’s great when you have so many brilliant minds in one place.
6. Room For Growth
Many reviewers said that if you stay on at Morgan, you will be rewarded for hard work and dedication.
The company does promote people from the inside.
So it’s something to look forward to, when starting at the bottom of a department, that you could one day be managing it, or even the vice president.
7. Family Oriented
The people at Morgan Stanley appreciate that the company values family dynamics.
Not just creating a sense of work-family, but also realizing that one’s personal family is the top priority.
The company is very flexible when it comes to giving time off for any family related, from births to elder care.
Not only do they continue to pay you, but they will help pay the cost of care for parents, grandparents, and even sisters, and brothers.
If there’s a second opinion needed that is not covered, Morgan Stanley will make sure your loved one is seen by a top doctor at no cost to you.
Cons Of Working For Morgan Stanley
One of the biggest complaints we saw about working at Morgan Stanley was the salary.
Though it’s not terrible, a lot of people say it’s not on par with industry standards.
While first-year bankers at Goldman Sachs were making $110,000 or more, Morgan Stanley was paying just $85,000.
This may not sound bad, but a lot of those employees work 100 hours a week!
Once you make it up to management and corporate, however, salaries do improve.
That is if you can hold out that long.
As with most workplaces, employees at Morgan have their complaints about management.
Many of the comments are not personally directed at the people themselves.
They say that, due to high turnover, managers are often spread thin and simply cannot pay attention to details or answer every question.
Other employees say that managers make too many decisions without consulting or even telling employees.
While others say the managers are dishonest and play politics.
3. Walking On Eggshells
You better watch what you say and what you post, or else.
At least that’s what some of the employees say.
They feel a sense of having to walk on eggshells in certain departments and not having the freedom to speak without retaliation.
Others say that things they’ve posted on social media, whether it be a political alliance, a joke, or a retweet have come back to haunt them.
So, be careful what post, that cat wearing a birthday hat may set someone off.
4. Long Hours
Several employees have said that if you want any type of personal life, especially early in your career, this company isn’t for you.
For many, 12-16 hour days are not uncommon.
Working on weekends and late into the evening is also considered normal.
To make it worse, most of that time, you’re sitting at a desk, either on the phone or writing emails, proposals, etc.
It can become mentally and physically exhausting.
While many employees have been with Morgan Stanley for years, several people have stated that layoffs are a regular occurrence at Morgan Stanley.
They occur like clockwork every 2 years according to the company’s earnings.
However, they can happen as often as the end of each quarter of each year.
6. High Employee Turnover
Due to the low-end salary, long hours, and layoff threats, the turnover rate at Morgan Stanley is quite high.
Unfortunately, positions are not always filled, so remaining employees must take up the slack and this causes the vicious cycle of more long hours and employee burnout.
7. Not Many Remote Options
During the pandemic, Morgan Stanley went almost completely remote.
Though nobody liked how they got there, folks were pretty happy to have this work-life balance.
It was great for people with kids and was just a lot less stressful for everyone not having to race to the office every day.
But now, Morgan Stanley, like many other companies, has started the push to return to the office and has done away with many remote work options.
People are not happy about having to wear slacks instead of pajama bottoms.
14 Pros and Cons of Working for Morgan Stanley – Summary Table
|Pros Of Working For Morgan Stanley||Cons Of Working For Morgan Stanley|
|1. Benefits||1. Salary|
|2. Great Company Culture||2. Management|
|3. Nice Perks||3. Walking On Eggshells|
|4. Tons Of Training And Professional Development||4. Long Hours|
|5. Excellent Colleagues||5. Layoffs|
|6. Room For Growth||6. High Employee Turnover|
|7. Family Oriented||7. Not Many Remote Options|
Should You Work For Morgan Stanley?
If you’re looking into working at Morgan Stanley, it might be a great fit if you’re in need of great benefits and tuition reimbursement.
It’s also a great place to develop strong work relationships and even outside friendships.
You’ll have tons of opportunities to keep on top of the latest trends with professional development.
Morgan Stanley is a great place to start and stay for the long term if you’re not all about money.
If that’s the case, you may want to rack up some experience here, then move on to another firm.
The hours are long and weekends will sometimes be a thing.
So, if you’re looking for a strict 40-hour work week, Morgan Stanley may not be for you.
All you can do is weigh the pros and cons carefully before making a decision.