Morgan Stanley Smith Barney Process to Hire?

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ohbrother1's picture
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Joined: 2009-06-30

Had first interview with local branch manager today and things went well.  Going in next week for aptitude test and personality test - what should I expect from these tests?  Sounds like I would meet with a few of the financial advisors in the branch after that to give the branch manager a second opinion - if everything goes well - how long until the offer shows up? 
 
 

akmpres's picture
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Joined: 2009-06-09

Hi Ohbrother1, I went though all those processes over the past two weeks and during my interview with the Branch Manager and 2 other FA's i was verbally offered the job, i followed up with a thank you email and got a telephone call from the MSSB recruiter who found me and he said that the BM loved me and a very nice offer was in the process of being drafted and sent out, It has been a week now, I dont know if i should call or just keep sitting on my hands.  I have a good relationship with the recruriter and he said to sit tight, I am quite anxsous to get started but will keep you posted on my progress.As for the tests, they are simple personaltiy tests and the other is a sample  basic series 7 test, it tests basic math and logic, they want to make sure that you will be able to pass the 7 so this test i guess is a good indicator if you will. Good Luck!

bollinger's picture
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Joined: 2009-06-26

How long was it from application til their first contact call?

SB0807's picture
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Joined: 2009-03-02

The process could take a while. Isn't just up to the branch manager, must go up the chain of command to get approval. In my case I was hired, but couldn't start for two months because they weren't having a training class for those two months.
Have they discussed you being on a team? I was under the impression they were only hiring FA's at the current time that were going to be working on a team.
 

akmpres's picture
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Joined: 2009-06-09

Yes, they are hiring me on to a team, SB0807 did you just get hired under the new MSSB platform or the old MS or SB? I don't think that they have a training date set for the new MSSB, but from the job boards i can see that they are really actively recruiting. 

ohbrother1's picture
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Joined: 2009-06-30

Actually got the call from Branch Manager himself after he looked through about 20 resumes on the MSSB website. He did mention being hired into a team which I'm okay with - asked him about branching out later from the team method and he said it's certainly doable. I thought the base salary questions were gonna come later but he asked me upfront what I'm looking to make.

feebasedrep's picture
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Joined: 2008-12-31

Are you working with a Morgan Stanley Branch or a Smith Barney Branch....have they consolidated processses yet, or are they still separate...looks like their websites to apply are very different.

akmpres's picture
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Joined: 2009-06-09

I am working with a MS branch, I do not think they are hiring on smith barney platform anymore, I know a few guys who work for smith barney here in Manhattan and there platform for new business has been changed but they are still servicing old clients using the old platform. 

SB0807's picture
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Joined: 2009-03-02

akmpres wrote:Yes, they are hiring me on to a team, SB0807 did you just get hired under the new MSSB platform or the old MS or SB? I don't think that they have a training date set for the new MSSB, but from the job boards i can see that they are really actively recruiting. 
 
I was hired on the Smith Barney side. In production 1 year now. I'm not sure exactly but I think they still have the separate training programs for the time being. It may be a year or more before everything is completely merged together.

ohbrother1's picture
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Joined: 2009-06-30

Took the tests Monday and did excellent on the numbers and logic but bombed sales aptitude test - got an average grade - not the highest, not the lowest - don't know how much stock they put into the tests but hope that doesn't affect me too much - I have 10 years of sales experience - branch manager wants me to meet with another FA and I assume I'll find out soon after that if I'll be offered position

akmpres's picture
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Joined: 2009-06-09

ohbrother1 wrote:Took the tests Monday and did excellent on the numbers and logic but bombed sales aptitude test - got an average grade - not the highest, not the lowest - don't know how much stock they put into the tests but hope that doesn't affect me too much - I have 10 years of sales experience - branch manager wants me to meet with another FA and I assume I'll find out soon after that if I'll be offered positionThat's good! Were you given the business plan to fill out yet? That will be the next step.

Greenbacks's picture
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Joined: 2004-12-21

akmpres:
 
Please beware most BM would sell there mothers skin to fill a chair.  You will be gone and he will take control of your accounts that is how he builds his book.
Good luck but beware.

akmpres's picture
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Joined: 2009-06-09

Greenbacks wrote:akmpres:
 
Please beware most BM would sell there mothers skin to fill a chair.  You will be gone and he will take control of your accounts that is how he builds his book.
Good luck but beware. Thank you for the advice greenbacks, what if i was joining a team, I should be worried about the team leader taking my biz, what type of things should i have in my contract that insures that i can build my own book incase of divorce.

bigmag74's picture
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Joined: 2009-06-23

Anyone know if the SB & MS hiring process is still operating separately? I am considering making a move, but found out that my old boss at MS is a regional dir now. He was pissed when I left in 2001 and might put the kybosh on any deal I make if he gets wind before I move. I am in a different city, but I believe he is over the entire state now. If they are not fully merged yet, I might consider an offer from them.

SB0807's picture
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Joined: 2009-03-02

akmpres wrote: Greenbacks wrote:akmpres:
 
Please beware most BM would sell there mothers skin to fill a chair.  You will be gone and he will take control of your accounts that is how he builds his book.
Good luck but beware. Thank you for the advice greenbacks, what if i was joining a team, I should be worried about the team leader taking my biz, what type of things should i have in my contract that insures that i can build my own book incase of divorce.

I wouldn't worry so much about the BM taking advantage of you. Costs 90k plus salary and benefits over 2 years. Not exactly something a BM wants to see on the P&L if there is no long term potential.
 
Personally I would be more worried about being hired on a team and just being used as a glorified CSA. I've heard many stories of trainees thinking they were getting a good deal by starting out on a "big" team. Only to shortly be out of the business because the partnership was disadvantagous to them.

akmpres's picture
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Joined: 2009-06-09

SB0807 wrote:akmpres wrote: Greenbacks wrote:akmpres:
 
Please beware most BM would sell there mothers skin to fill a chair.  You will be gone and he will take control of your accounts that is how he builds his book.
Good luck but beware. Thank you for the advice greenbacks, what if i was joining a team, I should be worried about the team leader taking my biz, what type of things should i have in my contract that insures that i can build my own book incase of divorce.

I wouldn't worry so much about the BM taking advantage of you. Costs 90k plus salary and benefits over 2 years. Not exactly something a BM wants to see on the P&L if there is no long term potential.
 
Personally I would be more worried about being hired on a team and just being used as a glorified CSA. I've heard many stories of trainees thinking they were getting a good deal by starting out on a "big" team. Only to shortly be out of the business because the partnership was disadvantagous to them.Another very good concern, I got my welcome package this week but no solid offer letter, so i don't know how long that is going to take, i am curious to see my base salary and my contract with the team.

Swarley's picture
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Joined: 2008-08-25

Just got my rejection email from MSSB. Man that sucks. Oh well on to the next one.

ohbrother1's picture
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Joined: 2009-06-30

What's in the welcome package if not the actual offer?

akmpres's picture
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Joined: 2009-06-09

ohbrother1 wrote:What's in the welcome package if not the actual offer? benefits, mission statement, hand book, code of conduct stuff, letter from Mack welcoming,

ohbrother1's picture
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Joined: 2009-06-30

I think the hiring process is still separate - I got a rejection email from Morgan Stanley last week but am pretty deep into the process with Smith Barney - met with BM, have taken the tests, met with one of the Senior FAs with another meeting scheduled next week with another of the FAs.

feebasedrep's picture
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Joined: 2008-12-31

That is interesting. My son applied to both Morgan Stanley and Smith Barney in January. Was offered a job by Smith Barney (Southwest Region) in June, got the MSSB rejection e-mail from a Morgan address two days before his start date at Smith Barney. Never even got a chance to talk to anyone one at Morgan, and e-mail came 6 months later?
 
Best of luck to you!

ohbrother1's picture
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Joined: 2009-06-30

Did he start with Smith Barney yet and has he attended the training in Warren, NJ?

akmpres's picture
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Joined: 2009-06-09

The offer letter is in the mail according to my recruiter at MSSB, i sit and wait by the mailbox, hopefully it comes this week. 

feebasedrep's picture
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Joined: 2008-12-31

He started in June...and I believe Warren is scheduled later this Fall, but I am not sure as he is three states away from my office.

Borker Boy's picture
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Joined: 2006-12-09

Hmmm....renewed interest in the wirehouses?
 
I knew it wouldn't be long.

N.D.'s picture
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Joined: 2009-07-14

It is time to start programs back up. By the time the newbs get trained and up and going, it should be the end of most negative news and time for positive growth.

ohbrother1's picture
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Joined: 2009-06-30

Does anybody know how long this process takes?  I think I'm in the home stretch - have faxed in numerous sets of paperwork and met at the office twice.  Meeting set for this Friday with Branch Manager to discuss Business Plan.  I've been in the hiring process going on 4 weeks now.  How long did it take to get the offer for other folks on the board?

Still@jones's picture
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Joined: 2009-03-22

Last year, I interviewed with MS for 7 weeks; and 3 times they said they would give me my offer amount, only to say they were still working on it. 

TwoTour's picture
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Joined: 2008-11-10

Personally, I am just starting the process.  I put in my application and resume' well over a month ago, and received a call with initial telephone questioning/screening today.  I have an interview at the office shortly, but imagine that is make sure my face isn't tattooed or that I have multiple, visible piercings.
 
He did ask me if I was given an offer, if I could start by a certain date, and that is less than three weeks away.
 
I'm looking forward to it.

MBA2FA's picture
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Joined: 2009-06-01

It was exactly two weeks from my first interview with MSSB to my formal written offer.  My start date was one week after that.They can move pretty quickly if they are motivated.

svm21's picture
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Joined: 2009-05-07

Hows it goin so far MBA? Are you in love? Is it everything you dreamed of and more?

damion99's picture
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Joined: 2007-11-19

yess but the question is how do you go about getting motivated......sad thing is i cant wait for this monday to be over

Shift's picture
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Joined: 2009-08-12

I would love to chat with anyone about their offer to work at MSSB.  I am in the process of expecting an offer soon, and don't know what to expect.  Anyone want to chat about what was in their offer?

tqspygame's picture
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Joined: 2009-01-24

What is the process like now? I applied online and 15 minutes later I had a call on my cell asking me to call(from the branch manager). Is this customary? Or is this because I already have licenses and I won't have to go through that?

MBA2FA's picture
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Joined: 2009-06-01

svm21 wrote:
Hows it going so far MBA? Are you in love? Is it everything you dreamed of and more?
I have to say I am loving it do far.  I have a great office.  There are a couple big teams that manage a couple hundred million... quite impressive... and the FA's are very friendly, but busy.  The other new FA's in the office are kinda depressing.  They probably only put in 45 hours or so per week, yet complain how hard the job is.I pretty much stick to my studies most of the day.  I am usually ahead, so I spend some time working on my marketing plan, scouring through the Company Intranet, going through additional online learning modules, reading FA best practices, and listening to the company "squawk box" updates.I really have no complaints at this point.  I can tell that compliance is going to be a pain in my neck, but I had to deal with the same stuff in pharma.I asked my manager if I could ever do anything like teleseminars or webinars as part of my prospecting campaigns... He said, "Well.... I don't want to say no, but... I'll have to check and see..."The MSSB guys seem to get really uncomfortable about any kind of electronic communication.  Considering that we already have the technology to deliver messages via our own internal TV station, yet FA's do not routinely do anything remotely close to that..... I am guessing the answer will be an emphatic "NO!"  It's nice of my manager to look into it anyway.One thing that is more than I have ever dreamed of... the great lunches they bring in every day!  I better watch myself.  I have probably gained five pounds since I started!

akmpres's picture
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Joined: 2009-06-09

I too started in the past week and would agree with MBA2FA, I work on a team that runs 1.2 billion and there are some huge producers in the office, but the rest of the guys are quite beaten down, my complex manager doesn't allow reps so i am not eating as well as MBA, but I too am enjoying my time in the office.  

tqspygame's picture
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Joined: 2009-01-24

How do those new guys expect to make it with only working 45 hours/week. Are they only hiring for teams now?

Akmpres, what are you expected to do on a team the runs 1.2B?

Greenbacks's picture
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Joined: 2004-12-21

.
Well we can see our taxpayer money at work they bailed out the banks and the wires   so now they are hiring again.  <?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />
 
Obama’s stimulus at work in the wire houses.
 
Temporary work for a few but at least they are willing to work doing something.   

MBA2FA's picture
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Joined: 2009-06-01

tqspygame wrote:How do those new guys expect to make it with only working 45 hours/week. Are they only hiring for teams now?

Akmpres, what are you expected to do on a team the runs 1.2B?These guys are solo.  All the rookies in my office are in the 3rd quintile or worse.As a trainee, they don't want me working more than 40 hour/week (BM said he could get in trouble), but I still work more than these guys.I may not now how to succeed in this business, but I can tell you how NOT to succeed.  Just do what these new guys do.An FA came into my office yesterday and introduced himself.  He said I should get out of this office because, "Nothing good happens here."  I asked what he meant.  he said I need to get out... go study at Starbucks, the fancy mall, or somewhere else.  He said I need to go out and meet people now!  He said he built his book to $100MM in five years and didn't do it by hanging around the office.  He said daytime is for networking and nighttime is for studying.Hmmmm.....

chief123's picture
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Joined: 2008-10-28

Why can you only work 40hrs/week? Are you studying(not licensed)? It seems to me that once your licensed you should be putting in 60hrs/week at least..

tigerstyle16's picture
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Joined: 2009-08-21

What was your base salary offer? I am getting conflicting answers from my recruiter and a Financial Advisor that has been with Smith Barney for years. One thing I do know is that Morgan Stanley Smith Barney has a huge push to hire new trainees. I guess because of all the drop-outs when the market dropped and citi about collapsed. I heard the regional guys have had jobs threatened if they don't start hiring some trainees. So to me I would imagine the base salary may be higher than it was years ago or even last year. Just let me know. Thanks...

TopNotch's picture
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Joined: 2009-08-20

75% of your 2008 total income.

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