MD vs. Executive Director

there is none. Goldman has executive managing directors and partner managing directors. Most firms just have Managing Directors though

executive director at GS is assumed to be VP..

At UBS - Exec Director is the level before MD, similar to senior vp at other banks.

There is a difference between Executive Director and Executive Managing Director. Executive Director is the same thing as a Senior Vice President and it is the position before reaching Managing Director.

GS has Executive Managing Directors and they are Managing Directors but they are not Partner Managing Directors.

EMDs at Goldman take home between $1.5 and $3 million a year. Goldman PMDs take in over $7 million per year

Anybody know the difference at Morgan Stanley?

I believe Morgan Stanley just has the usual Analyst, Associate, Vice President or Executive Director and Managing Directors.