I will be joining Morgan Stanley for the summer in investment banking. I was wondering whether anyone had done their intern program, and had any views on how it went?
Also should I be looking to lateral to Bstone or GS after the summer for FT when thinking of exit opps or is the MS brand equity enough?
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You're gonna get flamed like hell for this post, but the answer is yes, MS is fine. The GS bankers on this board will probably disagree.
Assuming you're interested in banking, Morgan Stanley will give you a better experience than Blackstone. And when it comes to GS vs MS, which one is more prestigious really depends what group you're in. For instance, everyone knows GS TMT is the shit, but if you're in NYC and not in TMT then I would argue that MS M&A and MS Sponsors are both better than any other group at GS. Moreover, MS currently has a better reputation on the west coast due to their tech group in Menlo (which is imo the most prestigious industry group on the west coast), although GS is starting to really revamp their west coast ops.
I think MS is fine. No opportunity will be closed to at MS that would have been open at GS (assuming you do well at both places).
That said, I think the MS name is still slightly behind. It's like Stanford/Harvard. Harvard unfortunately for whatever reason will always be a better brand name than stanford, even though stanford is so so so close behind.
Interesting analogy..
I don't care what anyone says. MS will be golden on your resume. No one will give a GS guy additional credit for working at GS, you're on the same level. By the way MS places more in Silver Lake, TPG on the west coast.
I agree completely with BB M&A. MS sponsors and M&A place the lights out. Every door is opened to you and I've noticed that many banks and groups have general relations with PE shops they tend to place into. For example, Blackstone hasn't hired a GS TMT or UBS LA analyst in the past few years but regularly takes MS analysts.
GS TMT does very well with KKR, TPG, and tends to place one analyst every year into other funds like Providence and TA Associates.
I'd personaly take MS M&A over any other job on the street before considering fit and other conditions but thats my opinion. Some will value the GS brand name more.
Culture is sooo important in your final decision; brand difference is marginal.
Anyone know how Morgan Stanley's transportation industry group is regarded both within the firm and by PE firms? I believe the group is separate from Industrials, which is somewhat unique and different than other BB models. Any reason for this???
What are the stronger groups in London? Same as in the states?
So that would be M&A, Sponsors, Tech, what else?
thoughts? exit opps?
bump
But it really doesn't matter, you can pretty much go anywhere from those two banks.
I would however say, if you want to do Hedge Fund and make piles and piles and piles of $$$ quick, you will have a better chance out of GS. Hedge funds like Och Ziff, Eton Park that hire bankers... love GS because most of them were funded by... GS alumns.
What about PE and Hedge Funds @ MS? Would you be better off in M&A or FSG?
M&A definetely has better exit opps and is also a much smaller group than FSG.
How/when do they determine who gets into which groups? I got an offer for "IBD", and was told that they don't slot people into groups until much later.
industrials at MS places real well....past two years: KKR, Silverlake, Carlyle, et al. Small group.
MS industrials is not the strongest group at all, placement is a result more of the "MS" than the "industrials"
haven't heard much about culture at MS. whats the consensus?
Culture can be group-dependent, but more of a star culture than GS. Still big on teamwork though, like everyone else. Everyone i've met is VERY aware and proud of the fact that they work for one of the strongest firms out there, both historically and today.
cool people that you'd go to the bars with?
Around when does MS tell their interns what group they are in and is there any meet & greet process that occurs first?
Also, does anybody know how MS sponsors/m&a or any other of their groups did in past years as far as exit opps. go? thanks
hey im a newbie so wats TMT or FSG?? thx
telecom, media, technology and financial sponsors group
THX!!!
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