Hey guys - will keep this brief. Currently a first year MBA student and was fortunate to receive offers from(for the generalist associate pool) and (choose your own adventure, probably would choose PEI and dabble in industrials) in NY for the summer, and looking for a little input. Most of what I found comparing these two is ca. 2008-2010 so would love an updated look.
Lay of the land as I see it:
Lazard: gut feel tells me this is a slightly better cultural fit, top power and utilities group on the street, marginally higher pay.
Morgan Stanley: marginally better-known brand outside of finance, pool lets me try multiple industries before specializing, slightly better lifestyle as a first year associate.