Morgan Stanley CMBS Originations

Does anyone have experience with MS in the CMBS originations group? I'm interested in learning about the culture, deal flow, hours, comp (analyst/associate level), etc.

I've looked through past posts but haven't seen anything too recent or detailed. Thanks in advance.

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CMBS Originations at MS has solid deal flow with both their large loan and conduit verticals. All CMBS at the bank falls underneath their "Fixed Income" umbrella. If you had a choice, go with LL as you have exposure to stronger borrowers and brokers along with the ability to work on "trophy" deals. In 2018, their LL group has been most active with nationwide portfolio refis. Culture seems better than most CMBS groups at large banks, in my experience. Comp at analyst/associate level is healthy at market.

Space and place.
 

I would think being a full employee is better than a consultant. Do you or anyone else have insites to what it's like as a consultant vs an actual employee?

 

To add a personal observation - it depends on the shop whether being a consultant vs. full-time matters or not.

At shops that have a huge presence of consultants, theres generally no difference and it actually might be better (all cash comp, sometimes better benefits, etc.) than being full-time. At shops that have one-off consultants, its a different story and it may be a rough experience.

My understand is that everyone at MS CMBS is a consultant but this may have changed over the past year or so.

 

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