Job Title: Vice President
Location: New York, NY
Submitted on: 16-Jul-04
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Job Title |
Workplace
Survey |
| Vice President |
Morgan Stanley on the retail side is not diverse AT ALL. I am a black
woman, and was the highest ranking and most visible black woman on the
retail side of the firm as a VP! Many times I attended incentive
programs where I was the only black person in an audience of 700
people. That situation did not change the entire time I was there.
The hours on the retail side of the firm are much more reasonable than
institutional, and in fact many folks head home by 6:30 or so at the
latest.
It is fairly family oriented at corporate hq for retail folks - many
folks will head out early to catch their kid's game, or for a charity
board meeting. The people were nice enough, but it is definitely still
an old boy's network. I helped launch a very profitable product for
the firm, yet when a new counterpart [white male] was hired he made
more $$ in base salary than my base and bonus combined. DW used to be
very cheap on base salary and give large bonuses in proportion [100%].
New people who are getting hired are getting a better deal.
If you are a favored person, especially if you are a guy, the sky is
the limit. Management tends to promote people who they are comfortable
with, and not necessarily the person who should really get the job. If
you are not a 'favored' person, you will still eventually get promoted,
but it will definitely take longer.
I don't want to sound as though I didn't enjoy my tenure - there were
many ups along with the downs. It was simply time for me to move on
after 12 years.
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