Changes at MS
75 RepliesJump to last post
It was made in jest - that's all. Opinions are like @$$holes - everyone has one and everyone should feel free to speak it.
I look at old Putsy when he was on this board. A lot of what he said was crap, but it instigated a lot of debate and good feedback from others.
joe - did you like the number eleventy kabillion dollars?
Great:;
Was afraid of the background check
And English major Joe. I am felmale. You referred to me as male.
You know what you and they say about ass uming?
Opinions are like @$$holes - everyone has one and everyone should feel free to speak it.
-------------------
I thought it was, "...everyone has one and they all stink." Oh, never mind, that was for excuses, not opinions.
Hi all,
I’m new to the forum. I couldn’t find any other posts really addressing
this topic, but if I missed them, I apologize.
I’ve just had a 2nd round interview for the position of Wealth
Managment Analyst at MS. I understand what the job function is, but I still
have a few questions that I’m hoping someone with any MS experience, or
specifically WMA experience, could answer.
1) Unlike other BB firms, MS doesn’t hire analysts for Private Wealth
Management, only associates. With the corporate changes at MS, is the
WMA position turning into the equivalent of a PWM analyst at other firms
(as far as compensation, competition, and prestige)?
2) In the geographic area that I’ll be working, a registered 1st year
financial sales assistant earns a base salary of roughly 40K. A financial
analyst earns a base salary of roughly 55K. This is the 75th percentile,
which i’m assuming MS is a part of. Since WMA seems to be a
combination of the 2 jobs, what pay can I expect? Also, this is a 1 year
position, what type of signing bonus and/or end of year performance
bonus is there?
3) This is my first corporate job. I know it’s a bad idea to bring up salary
before an offer is discussed. When is an appropriate time? This is a job
that I definitely want, but it will be very hard to say yes if the salary is in
the high 30’s/low 40’s. The cost of living here is extremely high, and the
hours for this job are much longer than those of a typical rookie broker.
(They said 60 hrs/week is likely for the first year). I think this justifies a
salary closer to that of the financial analyst’s, but I don’t want to ruin my
chances by fighting for more $$$.
Any and all insight would be appreciated.
Thanks.
The WMA position has nothing to do with PWM, in terms of job function or prestige. WMA is a branch position in, gasp, plain-old retail. You will probably be able to make $50,000 if you negotiate properly. You will help Morgan Stanley’s “wealth advisors” with marketing and presentations (materials).
Rookie brokers, including me, work much more than 60 hours a week. That is a disrespectful comment.
[quote=Biasedrecruiter]
Great:;
Was afraid of the background check
And English major Joe. I am felmale. You referred to me as male.
You know what you and they say about ass uming?
[/quote]Actually I was not assuming anything. Others made implications as to your gender. Not I. In the English language it is customary to use the male pronoun when the gender of the party in question(such as yourself) is unknown. That is, unless you want to use the awkward, new age alternatives such as s/he or "he or she". Whatever.
I had no idea that you were "relmale", whatever the hell that is.
What I do know is that your grammar and spelling are rather poor, and that you're arrogant to assume that I would like to swap tax returns with you.
I have an idea. How about if I keep my income but take your tax rate. I bet I'd come out way ahead.
Nearly all trainees have been failing, so the WMA position was created to make registered assistants that may some day become advisors. It is not a hot advisor training program. It is not a advisor training program!
ugh… this job gets worse and worse the more I hear about it. Is there any
upside to it?
The upside for the few that really make it is $400-$800k a year doing something that is like nothing else on earth.
"Like nothing else on earth", Well said.
Playing 3B for the New Yankees is..."like nothing else on earth". With the upside to make the $10-$25 Million.
The fact of the matter my friend is that MS is redifining itself as we speak. Retail, PWM, Asset Management, the whole comapny. I think the only certain thing is that John Mack will take home a nice check this year. After that all bets are off. You can make money anywhere, you can be happy or miserable anywhere, and you can work as long and/or as hard as you want...even if you're a "Rookie Broker". The great thing about this country is we have choices.
Another thing MS brokers can count on is paying for Purcell’s personal secretary for life at $1.9 Million.
[quote=BrokerRecruit]
Go back and read my posts, Kool-Aid chugger. When have I solicited someone on the board? Do I have my contact info posted at the bottom of my posts or in my profile?
Read some of my last posts, especially on this board. When have I told someone they need a recruiter?
Spend more time working on your reading comprehension and less door-knocking, smart guy.
[/quote]Point # 2
"When have I solicited someone on the board?"