I want to ask current or past employees, I just got hired for MS and I start soon. I currently got a decent job that happens to be safe during the covid 19 crisis. Im worried about being laid later this year if I move forward with MS. Is it a good time to start?
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i was hired january 2019 for a lead job then booted out march 2020 as they change my job description and expected me to do something i wasnt hired for neither they cared to provide training. i was also in a year i love my dad and my wife had a baby!!! i was in the cloud technology group. I had a great experience as a contractor there but terrible experience as an employee. my experience was management never cared about me neither my ideas were any valuable. I would not recommend working for MS as employee and the feedback i see here is very accurate. Most people there are good but others specially the ones that want to move up are ruthless and careless about other human beings
In terms of Tech, Morgan Stanley hasn't moved forward since before the financial crash. Too many people have been in the same job since they started. Tech too proprietary. As a result they are cliquey don't listen to anything anyone new has to offer. it's run by people that have had only one place on their CV - Morgan Stanley! 15-30 yrs with no experience from anywhere else.
And boy do they talk and talk and talk before making a decision (usually the wrong one). 3 or 4 years pass before they make a decision about a technology while the market has moved on.
I've noticed that young people tend to move on quickly. Management not doing anything about this.
If you are older, I'd consider it but if you are young give investment banking a miss. MS is boring.
One high level MD under Rooney resigned last week.
Obviously he know big cuts are coming, including himself.
Far too many VPs in technology, I can see many of them getting the boot to flatten out the organization.
If you're a technologist, stay away. Technology is hopelessly proprietary, outdated and staffed by long-timers who won't accept the fact that it's no longer 2005. Management is clueless. Rooney knows it too - he's trying to reshape and modernize the organization. Translation: Instability, ongoing head count cuts.
I was there in IT when they layer off 1500 people. I moved if for this job my wife had just given birth my bad passed away my grandma passed away. My manger didn’t care gave me a a mediocre review and a few days later I was laid off. Not even a chance to talk or a chance to take a few weeks off to deal with any of that. I say I would work for a company that cares for the right people at all times not take you like a number in a spreadsheet. I would not recommend working for MS with my experience. But I. The other hand the people are great there is a Lot of great people there. I left a lot of friends
I'm a manager at MS and I agree with a lot of what's been written here. Last year's cuts were like a punch in the face, and the firm is still reeling. The tech organisation is in poor shape, imho : understaffed, outdated and led by a team that, frankly, doesn't seem to understand technology. They regard tech as a cost, and the idea of investing for the future seems to have been forgotten in the race for a higher ROCE or whatever metric is fashionable this quarter. You should also be aware that Rooney and co are determined to cut the numbers of EDs and MDs which means less chance for career advancement, especially so if you're white and/or male (the notorious "diversity overlay" that is applied when making promo decisions).
I have worked there previously and I would not suggest working for MS if you are in technology. MS will sell you off like a change to outsource
It sounds like you already quit your job when you asked for this advice.
I would have advised against going to MS. There has been a lot of people who left from technology, myself included. The bonus dried up and raises are a thing of the past. MS will continue to lean up and that is their hope with their many initiatives. One of them being the Agile Transformation.
I work there right now and, honestly, i'd think very hard about it. Last year's cuts were punishing and the firm is still reeling. I'm planning to give notice at the end of the year : morale is at rock-bottom after last year's cuts and I suspect there will be more to follow next year. Plus, the tech budget has been cut so hard it's ridiculous; management blew all the cash on this hopeless Agile transformation and there doesn't appear to be any money left to hire any actual staff.
If you have a safe job, it’s not probably the right time to move. The reason why they are hiring now is to most probably plug a hole due to someone leaving. When the cuts do come if it is a choice of keeping you or your manager, you can think what the choice would be.
If you currently have a safe job, I would avoid MS like the plague. Layoffs will happen regardless of what Gorman pledges.
Are you in tech ? Also are you a college grad or an experienced hire?