Morgan Stanley Public Finance, Opinions?

Just got 1st round from MS for Public Finance, any insight on compensation, career progression/exits ETC.

For internship btw

6,459 WSO Academy Investment Banking Session Reviews: 4.82/5

Nov 2026 Cohort

5.00/5

Investment Banking Mock Coffee Chat

“Ernest was extremely helpful and candid throughout our conversation. He gave me a clear, honest picture of why he moved into investment banking and how Evercore’s structure works, including the shift from a generalist program to the pod system and how specialized groups like RESA recruit directly. His explanation of why Evercore’s integrated coverage and product model creates more well-rounded bankers was especially insightful, and his example of co-advising alongside Morgan Stanley with a much leaner team showed me how much responsibility juniors get early on. His recruiting advice was practical and specific. He pointed me to technical resources, including Evercore’s own technical page, the 400 guide, Peak Frameworks, and shortcuts for converting IRR to MOIC. He emphasized building an anecdotal “why Evercore” answer from real conversations, focusing deeply on one industry, and tailoring my questions to the seniority of the person I’m speaking with. I left with a concrete plan for preparing for recruiting and would gladly speak with him again.”

Class of '29 Sep 2026 Cohort

5.00/5

Investment Banking Mock Coffee Chat

“Constantin is extremely nice and helpful! We talked about some genergal questions I had about recruiting and networking, and then dived into more specific problems I had. He has not only very knowledgable, but also very helpful, sharing also personal ancedotes to tell me what my next steps should be. ”

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2 Comments

chantingcorgi

IB

5y

Not too sure about comp. I don't think they're part of ISG so the $110k MIGHT not apply. Exits are tough. Many end up in some form of government. Best exit could be a lateral move to DCM (GCM FICM) since they both deal with IG debt. Super niche area of finance overall.

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Authored by: Certified Investment Banking Professional - 2nd Year AnalystCertified Investment Banking Pro

IB

Intern in IB - Cov

5y

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Authored by: Certified Investment Banking Professional - 2nd Year AnalystCertified Investment Banking Pro

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Morgan Stanley Public Finance, Opinions?

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