Morgan Stanley 2024 Summer Analyst Program – What to apply?

While you are enjoying your summer vacation, Morgan Stanley has opened applications for the Summer Analyst program. Have you thought about which division you’ll apply for?

We will analyze the current openings with you so you can plan strategically and determine which roles have the highest chances for securing an offer.

 

Which division to apply for? 

🎯Investment Banking Division (IBD) vs. Capital Markets (both under Investment Banking)

✅ IBD acts as the central point of contact.

✅ Analysts are trained to be industry specialists (like TMT or energy). You are expected to have more technical job duties (i.e., financial modelling/ company analysis/ industry analysis).

✅ You’ll interact with senior management to pitch deals and must network to build valuable connections.

✅ Exit opportunities: Leverage on these relationships, IBD practitioners can easily transition to Private Equity/ Venture Capital or start their own business.

 

✅ Capital Markets – It’s divided into DCM – Bond Issuance ; ECM - IPOs

✅ It focuses more on procedure and processes.

✅ Therefore, analysts have to be familiar with listing rules/bond issuance process. In terms of relationship building, there will not be as many client facing opportunities as in IBD.

 

📌Estimated Headcount: ~20 for both IBD and Capital Markets📌

 

🎯Fixed Income Vs. Institutional Equity (both under Sales & Trading)

Morgan Stanley is particularly good at exotic derivatives products, Equities in particular. Therefore, they break down Global Markets into Fixed Income and Institutional Equity. Institutional Equity would be more difficult to get in.

 

The interviews for both fixed income and institutional equity are heavily quantitative.

 

📌Estimated Headcount: ~10-15 📌

 

🎯Compliance/ Finance/ Technology/ Risk Management

We have a webinar to talk about middle and back office division on 1st July! Stay tuned!

 

📌 Estimated Headcount: ~2-5 per division 📌

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