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Since its founding in 1935, Morgan Stanley and its people have helped redefine the meaning of financial services.

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About

Since 1935, Morgan Stanley has served as the preeminent financial advisor to companies, governments and investors from around the world. Discover what makes Morgan Stanley such a great place to work below.

Your Career
Benefits
Training
Progression

What to expect

Morgan Stanley's Analyst programs will launch your career quicker than you ever thought possible. Whatever part of the firm you join, you will be building on Morgan Stanley's global presence and longstanding reputation as a financial industry leader. You will also learn to establish and develop a personal network of colleagues who may well become lifelong friends.

Morgan Stanley offers you an unsurpassed platform for building your career. Its global reputation, broad presence and deep understanding of the financial world will keep you intellectually challenged. You will find that the quality of its people makes the firm personally and professionally rewarding.

Associate Programmes for Graduates

Your opportunity as a Morgan Stanley Associate

Institutional Securities

Equity Research
This department is responsible for providing in-depth analysis of companies, industries, and markets to assess the investment outlook in equities. It collects and analyses financial information. Research analysts use Morgan Stanley's proprietary framework for risk-reward analysis and their interactions with leading investors to identify the key debates driving asset prices. They build financial models to explore alternative scenarios, make recommendations based on relevant evidence not yet reflected in current prices and publish research notes.

Global Capital Markets
This department is responsible for helping clients raise capital, whether as stock, bonds or related products. GCM combines the firm's investment banking skills with its sales and trading expertise, so it can offer clients fresh ideas and worldwide distribution in the capital markets. Morgan Stanley works to help clients get the most value from each stage of a transaction, while managing risk.

Investment Banking
This department is responsible for helping a wide variety of clients around the world to make and execute decisions about their business strategy and financial structure. Morgan Stanley is one of the top firms in M&A (mergers and acquisitions), in underwriting equity and related issues, in corporate debt and in high-yield debt financing.

Strats & Modeling
This department is responsible for revenue-generating activities that are centered on analytics and technology. Embedded Strat teams work inside the firm's Global Capital Markets, Banking, Commodities, Equity and Fixed Income businesses. Other teams focus on practice areas like Market Modeling, Core Analytics, and Model Standards and Enforcement.

Analyst Programs for Undergraduates

Your opportunity as a Morgan Stanley Analyst

Institutional Securities

Bank Resource Management
This department is responsible for working closely with Morgan Stanley's Prime Brokerage, Equities, Fixed Income and Treasury divisions to help investors and the firm finance trading activities. Its trading desks use repos and reverse repos, and lend and borrow securities to help large investors execute their investment strategies while managing its risk and exposure to each firm. Morgan Stanley's clients include many of the world's leading hedge fund and mutual fund managers, banks and institutional investors. It transacts in stocks, options and bonds on a daily basis to help finance its clients and the firm, as well as provide highly valued, analytical insight into the global markets.

Commodities
This department is responsible for providing risk management, investor products, financing solutions and liquidity across commodities markets including oil, metals and power & gas. It services a wide variety of clients including producers and consumers; refiners and utilities; central, private and retail banks and sovereign wealth funds worldwide. With knowledge of both the financial and physical aspects of commodities, they are execution specialists, salespeople, market analysts and originators. Working closely with colleagues across Morgan Stanley, including Investment Banking and Wealth Management, Commodities offer efficient access to capital to help clients protect and grow their business and to take advantage of market opportunities.

Equity Research
This department is responsible for researching macroeconomic and microeconomic conditions along with company fundamentals, and for collecting and analysing financial information to make specific investment recommendations. Research Analysts use Morgan Stanley's proprietary framework for Risk-Reward analysis to identify investment opportunities for clients. They use their interactions with leading investors to identify the key debates driving asset prices, they build financial models to explore alternative scenarios and they make recommendations based on relevant evidence that is not yet reflected in current prices. They regularly publish research notes to discuss their conclusions and thinking.

Fixed Income
This department is responsible for assessing and actively managing risk, trading securities and structuring, as well as executing innovative transactions in the fast-paced and constantly changing global markets. The team comprises four groups: Macro Trading, which includes interest rate and currency products; Credit Trading, which covers a variety of credit-related securities, derivatives and loans; Securitised Products, which is involved in trading and structuring of asset-backed securities and derivatives; and Distribution, whose salespeople help institutional clients achieve their investment objectives and provide access to the rest of the firm. Fixed Income Research also works closely with traders and salespeople to analyse trends and strategies for clients to use.

Fund Services
This department is responsible for providing administration services to Hedge Funds. Using Morgan Stanley's proprietary, globally accessible technology platform, it provides a full range of fund administration services. These include daily accounting and financial reporting; transfer agency and investor services; middle and back-office support; and integrated portfolio analytics. Morgan Stanley Fund Services is supported by more than 600 dedicated professionals based in New York, London, Dublin, Glasgow, Mumbai, and Bangalore.

Global Capital Markets
This department is responsible for helping clients raise capital, whether as stock, bonds or related products. GCM combines the firm's investment banking skills with its sales and trading expertise, so it can offer clients fresh ideas and worldwide distribution in the capital markets. It works to help clients get the most value from each stage of a transaction, while managing risk.

Institutional Equity & Prime Brokerage
This department is responsible for originating, distributing and trading equity, equity-linked and equity-derivative securities, and is a global leader in this business, operating in more than 25 countries. Equity Sales & Trading distributes content, provides liquidity and financing, and develops client solutions. The department helps the firm's clients frame the investment debate and provide liquidity or market access via cash, derivative and financing products. It offers exchange-traded funds/notes linked to a variety of strategies and markets; helps fund managers to increase their efficiency and performance through commission management; provides a complete spectrum of electronic trading services; assists hedge funds and others with prime brokerage services; and conceives quantitative and derivative strategies for the firm's clients.

Investment Banking
This department is responsible for helping a wide variety of clients around the world to make and execute decisions about their business strategy and financial structure. Morgan Stanley is one of the top firms in M&A (mergers and acquisitions), in underwriting equity and related issues, in corporate debt and in high-yield debt financing.

Public Finance
This department is responsible for raising capital to fund projects for public sector and not-for-profit institutions. The department structures tax-exempt and taxable offerings and derivative solutions to meet the needs of state and local governments, hospitals and health care organisations, higher education and cultural institutions, housing authorities, transportation agencies, water and sewer systems, power utility systems and student loan agencies. They need to fund vital projects with the least burden on public resources.

Strats & Modeling
This department is responsible for revenue-generating activities that are centered on analytics and technology. Embedded Strat teams work inside the firm's Global Capital Markets, Banking, Commodities, Equity and Fixed Income businesses. Other teams focus on practice areas like Market Modeling, Core Analytics, and Model Standards and Enforcement.

Investment Management

Investment Management
This department is responsible for managing investments on behalf of both institutional and individual investors. Morgan Stanley Investment Management's (MSIM's) institutional clients include pension funds, foundations and endowment companies. Its objective is to help its clients achieve outstanding long-term investment performance by offering them a wide array of equity, fixed income and alternative investments, such as real estate, private equity and hedge funds.

Wealth Management

Branch Analyst
This department is responsible for enabling Morgan Stanley's Financial Advisors and Wealth Advisors to meet the investment and financial needs of individuals, families, businesses and institutions. Morgan Stanley Wealth Management is a global leader in wealth management with a network of approximately 800 offices and 16,000 Financial Advisors. Its wide-ranging services include brokerage and investment advice, financial and wealth planning, banking and lending, cash management, annuities and insurance, retirement and trust services.

Wealth Management
This department is responsible for enabling the firm's financial advisors and wealth advisors to meet the investment and financial needs of individuals, families, businesses and institutions. Morgan Stanley is a global leader in wealth management, with a network of approximately 800 offices and 16,000 financial advisors. Its wide-ranging services include brokerage and investment advice, financial and wealth planning, banking and lending cash.

Company Management

Corporate Treasury
This department is responsible for accessing long and short-term financing, analysing the liquidity position of the firm and optimising its global capital base. Corporate Treasury acts as a partner to senior management and business units by providing forecasted business unit cash capital and liquidity needs. The department maintains relationships with regulators and creditors, and manages the firm's foreign exchange and interest rate exposure.

Credit Risk
This department is responsible for managing and overseeing the firm's credit risk- the risk that Morgan Stanley might face if a borrower didn't meet its obligations. Credit Risk Management (CRM) reviews transactions that may pose this kind of risk to the firm. The Credit Risk Department keeps track of internal risk limits, works with the business units and reports to management on credit risk issues.

Finance
This department is responsible for protecting Morgan Stanley's business by acting as keeper of the Firm's books and records, and by serving as trusted advisor to Morgan Stanley's businesses and its Senior Management team. The 3,000 employees of Finance worldwide maintain relations with Morgan Stanley's various industry and government regulators, as well as with the outside investment community. Finance provides financial planning and timely, accurate and clear financial information, analysis and advice to support business decisions and manage Firm-wide risk.

Human Resources
This department is responsible for providing HR support and strategy to all of Morgan Stanley's businesses worldwide. The division consists of Coverage, Product, and Operations teams. HR Coverage consists of teams of HR generalists who provide support to the firm's business units. Product teams are centralised groups that focus on specific HR functions, such as Benefits, Learning and Development, Recruiting and Data Analysis. Morgan Stanley's HR Operations team focuses on optimising the department's business processes, improving technology and developing strategic recommendations.

Internal Audit
This department is responsible for validating whether the Firm operates with appropriate controls and risk-management processes. Auditors evaluate the adequacy and effectiveness of the Firm's internal controls using a risk-based methodology developed from professional auditing standards. Internal Audit helps ensure Morgan Stanley complies with its own guidelines for risk management and monitoring as well as industry rules and regulations. Internal Audit reports directly to the Board Audit Committee and helps verify whether the Firm meets its fiduciary responsibilities to shareholders, adheres to corporate-governance standards and legal and regulatory requirements.

Market Risk
This department is responsible for managing all market risk exposures arising from Morgan Stanley's business activities. Each group in Market Risk serves a well-defined role: Risk Managers, Researchers (encompassing Risk Capital, Analytics and Model Review), Portfolio Analysts, Risk Reporters and Information Technologists (IT) all do their part.

Operational Risk
This department is responsible for preventing financial loss or other potential damage to the firm's reputation due to inadequate or failed internal processes, people, systems or external events. Operational Risk Management works with the business units and control groups to help ensure Morgan Stanley has a transparent, consistent and complete program for managing operational risk, both within each area and across the firm globally.

Firm Strategy & Execution
This department is responsible for supporting Morgan Stanley's senior-level decision makers, including the CEO, CFO, business unit heads and other members of the Management Committee, as they find new ways to strengthen the Firm's leadership in global financial services. The group, based in New York, advises them on strategic alternatives by analysing industry dynamics across lines of business. It also provides execution services related to principal (internal) mergers and acquisitions.

Operations

Operations
This department is responsible for preventing financial loss or other potential damage to the firm's reputation due to inadequate or failed internal processes, people, systems or external events. Operational Risk Management works with the business units and control groups to help ensure Morgan Stanley has a transparent, consistent and complete program for managing operational risk, both within each area and across the firm globally.

Technology

Technology
This department is responsible for working as a strategic partner with the firm's business units and the world's leading technology companies to redefine how the firm does business in global financial markets that are evermore fast-moving and complex. Morgan Stanley's major investment in technology results in quantitative trading systems, cutting-edge modeling and simulation software, comprehensive risk and security systems, and robust client-relationship capabilities, plus the world-class infrastructure that forms the backbone of these systems and tools. Its clients value Morgan Stanley insights, applications and infrastructure, which add competitive advantage to their businesses, and to its.

Benefits

Financial

Stock Options

Pension scheme

Life assurance

Health/Medical

Permanent health insurance

Private medical insurance

Discounts/Travel

Gym membership

Training

Morgan Stanley's leadership success rests on the talents of its people, so its future lies in enabling them to be the best they can be. Which is why - whether you join it as an intern or a graduate - you can expect world-class training and development. Depending on the area that you join, you will learn how to manipulate analytical tools, cutting-edge technology and data resources. However, classroom-based and on-the-job training and workshops are just one aspect of your development. You will also receive regular mentoring and coaching as well as be invited to networking events and senior management presentations for you to know the culture, understand its core values and key products as well as build a network of contacts - all necessary foundations for a truly exceptional and rewarding career.

Your development

Your success depends on being equipped to take on new career challenges. Morgan Stanley prepares you for responsibility, starting with introductory programs known for their depth and rigor. Continuing tutorials and programs from Morgan Stanley University offer new skills and knowledge to people at every level.

Outside the classroom, your most important professional growth takes place on the job. The Morgan Stanley culture of mentorship means that you work with senior people who want to help you achieve your personal and business objectives.

At Morgan Stanley you will find a wide variety of challenging roles. You will be encouraged to make full use of your skills, and offered opportunities to learn more and advance your career. To attract and keep the best in the industry Morgan Stanley nurtures its employees' talents through a culture that is open and inclusive, where people can achieve their individual and professional goals.

What does the futre hold?

Career mobility within Morgan Stanley is one of the keys to your success and the firm's. Morgan Stanley take an active approach to getting the right people into the right jobs at the right time. The firm's talent management efforts offer programs and initiatives to provide learning opportunities, improve knowledge and skills, and actively help employees manage their career path.