
Morgan Stanley

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Morgan Stanley mobilizes capital to help governments, corporations, institutions and individuals around the world achieve their financial goals. For over 75 years, the firm’s reputation for using innovative thinking to solve complex problems has been well earned and rarely matched. A consistent industry leader throughout decades of dramatic change in modern finance, Morgan Stanley will continue to break new ground in advising, serving and providing new opportunities for its clients. Morgan Stanley is committed to maintaining the first-class service and high standard of excellence that have always defined the firm. At its foundation are four core values — putting clients first, doing the right thing, leading with exceptional ideas and giving back — that guide its more than 55,000 employees in 1,200 offices across 43 countries.

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![]() | ![]() Change Company | ![]() Change Company | ![]() Change Company | |
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Overall Rating | 3.6/5 based on 1.8k reviews | 3.8/5 based on 7.2k reviews | 3.9/5 based on 6.8k reviews | 3.9/5 based on 5.3k reviews ![]() |
Highly Rated for | ![]() No highly rated category | Work-life balance Job security | Job security Skill development Salary | Job security Work-life balance Company culture |
Critically Rated for | Promotions Job security Work satisfaction | Promotions Skill development | Promotions | Promotions |
Primary Work Policy | Hybrid 90% employees reported | Hybrid 84% employees reported | Hybrid 49% employees reported | Hybrid 84% employees reported |
Rating by Women Employees | 3.6 Good rated by 571 women | 3.9 Good rated by 2.3k women | 3.9 Good rated by 2.3k women | 3.8 Good rated by 1.7k women |
Rating by Men Employees | 3.6 Good rated by 1.1k men | 3.8 Good rated by 4.7k men | 4.0 Good rated by 4.1k men | 4.0 Good rated by 3.3k men |
Job security | 3.0 Average | 3.9 Good | 4.0 Good | 4.0 Good |
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Nordic Markets Academy Launches to Offers Retail Traders Tools to Succeed
- Nordic Markets has launched the Nordic Markets Academy to provide retail traders with tools and education to succeed in trading.
- Headed by former JP Morgan and Morgan Stanley trader Marc Rudajev, the Academy offers exclusive content, proven strategies, case studies, and masterclasses.
- The Academy features an app allowing users to copy verified trades, practice environments for risk-free simulations, community forums, interactive webinars, and real-time market insights.
- Nordic Markets, operating under Bahamas regulation, focuses on eco-conscious operations, strict regulatory accountability, and an education-first approach for traders.

Morgan Stanley sees higher-than-expected iPhone and iPad sales for June quarter
- Morgan Stanley predicts higher-than-expected iPhone and iPad sales for the June quarter due to promotions in China.
- The increase in sales could translate to approximately $4 billion in additional revenue.
- Morgan Stanley reiterates its Buy rating on Apple shares with a $235 price target.
- Apple is facing pushback from the automotive industry over its CarPlay Ultra software.

PhonePe hires JPMorgan Chase, Citigroup, Morgan Stanley and Kotak as IPO bankers: Report
- PhonePe, India’s largest digital payments platform, has selected four global investment banks - JPMorgan Chase, Citigroup, Morgan Stanley, and Kotak Mahindra Capital - to handle its forthcoming IPO.
- The company is aiming to raise $1.5 billion in the IPO, potentially boosting its valuation to $15 billion.
- PhonePe is projected to file its draft red herring prospectus (DRHP) by August, with plans for a listing later this year.
- This IPO signifies PhonePe's shift from a high-growth startup to a publicly traded firm following its restructuring into a public limited company in April 2025.
- Founded in 2016 and originally based in Singapore, PhonePe later relocated its headquarters to India in 2022 to enable regulatory compliance and facilitate an IPO on Indian exchanges.
- PhonePe has now legally transferred the ownership of its IndusOS Appstore to India as part of its IPO arrangements.
- As of May 2025, PhonePe boasts 61 crore registered users, 4 crore merchants, over 34 crore daily transactions, and a total payment value exceeding Rs 150 lakh crore.
- In FY24, PhonePe's revenue reached Rs 5,064 crore, up 74% from FY23, with narrowed net losses of Rs 1,996 crore compared to Rs 2,795 crore in the previous year.
- Excluding ESOP expenses, PhonePe showed a consolidated net profit of Rs 197 crore in FY24.
- The company has raised around Rs 18,000 crore ($2.2 billion) to date, with significant investments coming from General Atlantic, Walmart, Ribbit Capital, Tiger Global, and TVS Capital Funds.

Middle East tensions could unleash a 2-part worst-case scenario that hits stocks, Morgan Stanley says
- Tensions between Israel and Iran could lead to a worst-case scenario for stocks according to Morgan Stanley.
- Morgan Stanley highlighted the risk of oil prices spiking near the end of the business cycle due to Middle East tensions.
- Oil prices surged during the Israel-Iran conflict but have since decreased after the cease-fire.
- A significant increase in oil prices could pose a threat to the business cycle and stocks.
- Morgan Stanley's bear case scenario includes two key parts that significantly increase market risks.
- The first part involves oil prices rising at least 75% year-over-year, potentially reaching $120 per barrel.
- This would likely require sustained disruption to oil supply, notably in the Strait of Hormuz.
- Oil prices have dropped from last year's highs and are currently trading lower than the recent spike.
- The second part of the scenario requires the oil spike to occur late in the business cycle, historically leading to recessions.
- Morgan Stanley acknowledges the negative impact of spiraling oil prices but it is not their base case scenario currently.
- Despite geopolitical risks, Morgan Stanley remains positive on stocks, noting historical post-conflict market performance.
- Other forecasters like JPMorgan and Apollo Global Management have also discussed potential effects of oil price spikes on the economy.
IPO-Bound Meesho Rejigs Board Post Reverse Flip
- Meesho, an ecommerce major gearing up for its upcoming IPO, has revamped its board with only two out of four top institutional investors retaining seats.
- The Meesho Pvt Ltd board, chaired by cofounder Vidit Aatrey, consists of eight members, including CTO Sanjeev Barnwal.
- Peak XV Partners and Elevation Capital are the two institutional investors on the board, with representatives Mohit Bhatnagar and Mukul Arora.
- SoftBank and Prosus Ventures have given up their board seats in the new structure after Meesho's reverse flip and merger into its India entity.
- Independent directors on Meesho's board include Rohit Bhagat, Surojit Chatterjee, Hari Shanker Bhartia, and Kimsuka Narasimhan, bringing expertise in finance and corporate governance.
- Narasimhan has replaced Kalpana Morparia for the fourth independent director seat on the board.
- Meesho is preparing to file its DRHP for a $700 Mn to $800 Mn public issue, having Citigroup, Kotak Mahindra Capital, and Morgan Stanley as its investment bankers.
- As part of its IPO preparations, Meesho's board restructuring aligns with SEBI regulations, ensuring appropriate composition of independent directors for public investor trust.

PhonePe Reportedly Planning India IPO to Raise Up to US$1.5 Billion
- PhonePe, majority-owned by Walmart Inc., is reportedly preparing for an IPO to raise up to US$1.5 billion.
- The IPO could value PhonePe at around US$15 billion, with a draft prospectus expected to be filed by August.
- Founded in 2015, PhonePe is one of India's largest digital payments platforms by volume.
- The company processes over 300 million transactions daily and serves more than 600 million users across 40 million merchants.
- PhonePe operates primarily on India's Unified Payments Interface (UPI), a fast-growing real-time payments system.
- Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley are reportedly appointed to manage the offering.
- Walmart and PhonePe have not commented on the IPO plans.
- PhonePe's IPO news was reported by Bloomberg via DealStreetAsia.
- PhonePe is a major player in the Indian fintech market.
- The IPO could potentially boost PhonePe's financial standing and expansion plans.
- The reported valuation of US$15 billion showcases PhonePe's significant market presence.
- PhonePe's daily transaction volume and user reach highlight its market importance.
- The company's reliance on UPI indicates its integration with India's digital payment ecosystem.
- The appointed banks indicate a strong financial backing for PhonePe's IPO.
- PhonePe's IPO news can impact India's fintech landscape and investor interest.
- The potential IPO underlines PhonePe's growth ambitions and strategic moves in the digital payments sector.

Swiggy GOV growth came at the cost of profitability: Prosus
- Swiggy managed to grow its business and reduce operational losses in 2024 but faced profitability challenges, according to early investor Prosus.
- The company saw a 29% year-on-year growth in gross order value (GOV) and a decrease in adjusted EBITDA loss.
- Growth was driven by food delivery and quick commerce expansion, leading to heightened competition.
- Swiggy's quick commerce arm, Instamart, expanded by adding 316 dark stores during the March quarter.
- In comparison, Zomato's Blinkit added 294 dark stores during the same period.
- March quarter results showed GOV growth with food delivery up by 18% and quick commerce by 101% year-on-year.
- Food delivery segment improved with an adjusted EBITDA margin over GMV of 2.9% by March 2025.
- Quick commerce, however, saw increased investments with an adjusted EBITDA margin over GMV declining to -18%.
- Swiggy aims for contribution breakeven in the quick commerce segment in the next 3 to 5 quarters.
- Balancing growth and cost management remains a challenge for Swiggy in the competitive quick commerce space.
- Morgan Stanley believes Swiggy can withstand quick commerce competition due to its financial strength.
- Prosus, an early investor in Swiggy, holds a 24.8% stake in the company after reducing its ownership post the listing.
- Swiggy's expansion into the travel and lifestyle concierge app, Crew, showcases its diversified efforts.
- The challenge for Swiggy lies in managing growth while ensuring sustainable cost control amidst competition.
- Swiggy's robust financials in food delivery provide support for continued investments in quick commerce.
- Prosus remains a significant investor in Swiggy, with a strategic stake in the company since 2017.

Meesho concludes reverse flip process; likely to file DRHP in 2–3 weeks
- Meesho, an ecommerce marketplace, has completed its reverse flip process and shifted its domicile to India.
- The company is expected to file the draft prospectus for its IPO in the next two to three weeks.
- The National Company Law Tribunal approved Meesho's reverse flip, which is likely to incur a tax of $280-300 million in the US.
- Meesho joins other Indian startups like Groww and Razorpay in moving their domiciles to India.
- Originally incorporated in the US for better access to global capital, Meesho relocates to India in preparation for an IPO on Indian stock exchanges.
- Meesho closed a $550 million funding round with new investors like Tiger Global and valued the company at around $3.9-4 billion.
- Kotak Mahindra Capital, Citi, JP Morgan, and Morgan Stanley are appointed as merchant bankers for Meesho's public issue.
- Meesho's rival Flipkart is also planning to redomicile from Singapore to India for an IPO in 2026.
- The company recorded 34% YOY growth in orders totaling 1.3 billion during the April-December 2024 period.
- Meesho had 187 million unique annual users as of December 31, a 26% increase from the previous year.
- CLSA reports Meesho at a GMV run rate of $6.2 billion and estimates a 26% compound annual growth rate over the next six years.
- Meesho's market share was estimated to be 37% in terms of order volume for 2024 and around 8.5% in terms of GMV.
- The company is focused on its upcoming IPO in India after completing the reverse flip process.
- Meesho's shift is part of a trend among Indian startups to relocate to India for potential stock market listings.
- The company's recent funding round brought in new investors and valued Meesho close to $4 billion.
- Meesho's growth in users and order volume highlights its expansion in the ecommerce market.

MakeMyTrip Raises $3.1 Bn To Buy Back Stake From China’s Trip.com
- MakeMyTrip raises $3.1 billion to repurchase a portion of its Class B shares from China’s Trip Group.
- The funding includes a mix of convertible notes and a primary equity offering.
- The primary equity follow-on offering raised $1.66 billion by selling 18.4 million new ordinary shares at $90 each.
- The remaining funds came from a 5-year convertible senior notes offering with 0% coupon and 35.0% conversion premium.
- Morgan Stanley led the offerings as the bookrunner and stabilisation agent.
- MakeMyTrip planned to raise $1.4 billion through convertible senior notes and $1.25 billion was netted via notes offering to qualified institutional buyers.
- The company increased the number of primary shares from 14 million to 18.4 million for the equity round.
- The capital infusion is aimed at reducing Trip Group's stake in MakeMyTrip from 45.95% to 16.90-19.99%.
- MakeMyTrip and Trip Group entered a share repurchase agreement to facilitate the stake reduction.
- Allegations were made against MakeMyTrip regarding data exposure due to Chinese ownership amidst military tensions.
- The deal raises questions about the composition of MakeMyTrip's board post transaction involving its Chinese stakeholders.

Elon Musk responds to report that xAI is burning through $1 billion a month
- Elon Musk's xAI startup is reportedly burning through cash at a rate of $1 billion per month and expects to spend $13 billion in 2025, dismissing the report as 'nonsense.'
- xAI plans to raise $4.3 billion in new equity funding and $6.4 billion in capital next year, on top of $5 billion in debt with help from Morgan Stanley.
- Of the $14 billion raised since 2023, only $4 billion remained in Q1 2025, and it is expected to deplete in Q2.
- The startup has spent billions on data centers and plans to expand its Colossus supercomputer with over a million GPUs, costing billions of dollars.
- Elon Musk's subdued response to the report contrasts his usual outspokenness, dismissing Bloomberg's claims as 'nonsense.'
- xAI's valuation soared to $80 billion in Q1 2025 from $51 billion in 2024 and has attracted investors like Andreessen Horowitz and Sequoia Capital.


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