Morgan Stanley Internship (2024 Guide)
Updated November 20, 2023
Morgan Stanley student internships are highly sought-after. They are often the first step towards a lucrative career in the world of finance and investment.
This article examines what’s on offer at Morgan Stanley and how to successfully apply for an internshp place at the highly respected financial organization.
What Is Morgan Stanley?
Morgan Stanley (established in 1935) is a multinational financial services and investment company based in New York, in the US.
Morgan Stanley raises, trades and manages wealth for individuals, institutions and governments.
With over 73,000 employees across more than 40 countries, career opportunities with the globally recognized financial giant are highly prized.
Morgan Stanley Summer Internship: What’s on Offer?
According to information on its website, over 1,500 interns join Morgan Stanley each year.
Despite the high number of places available, the process of securing a Morgan Stanley summer 2024 internship will be fierce and highly competitive.
There are a diverse range of opportunities available across various employment divisions including information technology, investment banking and equity research.
The organization is comprised of three major businesses:
- Investment management – Including mutual funds and institutional investment products
- Wealth management – Including brokerage and investment services, annuities and insurance
- Institutional securities – Including real estate, capital raising and corporate lending
There are 14 Morgan Stanley 2024 summer analyst internships (summer interns) across the following areas:
- Finance
- Investment Management
- Technology
- Fixed Income
- Research
- Public Finance
- Institutional Equities
- Investment Banking
- Wealth Management
- Human Resources
- Business Administration
- Risk
- Operations and Logistics
- Internal Audit
These 10-week intensive internships are available to undergraduates. There are also opportunities for students in MBA, PhD or Masters programs.
Applicants are required to have a minimum grade point average of between 3.00 to 3.49 GPA. Interns receive academic credit for their experience.
Having a growth mindset is essential for all applicants. The ability to identify and overcome challenges with resilience is vital for a successful placement.
For current available opportunities, see the careers search page at Morgan Stanley.
These programs are extremely valuable for gaining a wealth of experience and skills. Some opportunities are paid and may include bonuses; check the website for current details.
An internship is excellent preparation for a future career in the finance sector. Additionally, interns also gain a mix of transferable skills applicable to a range of disciplines.
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What do Interns at Morgan Stanley Do?
All interns are expected to contribute towards Morgan Stanley by making a positive impact throughout their placement.
Interns are assigned a team to work in, a manager and a peer mentor to guide them through the process. The specific duties will vary depending on the industry area.
Some programs include a four to five week assignment. This is an opportunity for interns to showcase their abilities and talents to senior staff at the end of their experience.
Interns are educated through taught in-class sessions as well as training on the job. Induction sessions are designed to prepare interns for work in a hectic and fast-paced environment.
Working as an integral member of a team, interns are expected to rise to challenges and solve problems.
This is a unique chance to understand what is involved in a career at Morgan Stanley.
The precise training schedule varies depending on the role and the area you choose to work in. Some positions involve rotations so interns can experience different aspects of the business.
Interns are fully guided and supported throughout their placement. This ensures they leave with a well-rounded view of Morgan Stanley that informs the direction of their future career.
A successful placement can help launch a full-time career at Morgan Stanley. Although not all interns are selected for a future role, internships should be viewed as a 10-week intensive interview process.
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Types of Internships
Morgan Stanley runs an insight program for first year students on a three-year course and second-year students on a four-year course.
This intensive week-long program gives students a chance to learn more about working in the banking industry and life at Morgan Stanley.
For those who know they want to pursue a career at a financial institution, there are two different types of internships.
- The summer analyst internships are available during the summer
- Off-cycle internships are opportunities that become available throughout the year.
Both program types offer interns the chance to discover their strengths and decide where in the business they best fit.
Some of the available Morgan Stanley summer programs include:
-
Investment Banking Summer Associate – The Morgan Stanley investment banking internship is an opportunity to take on the responsibilities of a full-time analyst. Interns gain skills in financial analysis, accounting and updating financial models. This summer internship offers a competitive salary.
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Global Capital Markets Summer Associate – Morgan Stanley Summer Associates are placed in the Project Finance group and are responsible for providing clients with finance and risk management solutions. This is an opportunity for students currently on an MBA program with previous work experience.
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Public Finance Summer Associate – Students with financial market knowledge can apply for the public finance program. Responsibilities include drafting proposals to generate new business and developing cash flow financial models.
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Equity Research Summer Associate – This is a placement within a sector depending on the skill set of the candidate. Options include media, telecommunications and utilities. Interns develop skills in fundamental analysis, gather data and network across departments.
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Sales and Trading Summer Associate – Students with a keen interest in finance and strong communication skills gain a wide skill set during this 10-week Morgan Stanley sales and trading internship. Interns solve real-world business problems and collaborate with development teams.
Why Choose a Morgan Stanley Internship?
The Morgan Stanley summer analyst program is incredibly competitive. Of the thousands of applicants received, around only two percent are offered an internship.
An internship offers applicants a unique opportunity to learn from talented and driven professionals who are experts in their field.
Morgan Stanley values diversity amongst the workforce and accepts interns from different educational backgrounds.
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Some of the benefits include:
- Exposure to staff in senior management positions
- Opportunities for networking
- Extensive on-the-job training
- Connected to a team and mentors
- Feedback to help improve performance
- High chance of a job offer for worthy candidates
- Experience the Morgan Stanley working culture
- Valuable resume building experience
- Community service involvement
- Develop problem-solving abilities
- Shadowing skilled employees
- Social events with mentors
- Morgan Stanley sophomore diversity program
Securing a place on an internship program is competitive. Highlighting your unique skills and aptitude in your application is vital.
Based on your performance on the program, successful interns are given a Pre-Placement Offer (PPO).
This shows how important it is to regard your internship as an extended interview.
How to Apply for a Morgan Stanley Internship in 2024
Always refer to the information provided on the Morgan Stanley careers page for the opening and closing dates for the internship scheme.
Morgan Stanley recruits interns on a rolling program. Aim to apply as early as possible for the best chance of selection.
The intern application process follows a standard series of steps.
Step 1. Find the Right Program for You
Interns are subject to intense training programs and work on challenging projects. For this reason it is important to select the right area for you.
Consider your unique interests and personal skills, read the descriptions provided for each program. Decide whether you can imagine yourself fulfilling that role.
Internships don’t necessarily require a background in finance (for example, you could pursue a Morgan Stanley software engineer internship). Intern recruiters are looking for high achievers and a positive attitude.
Always check the academic qualifications required for the specific post you apply for.
Step 2. Apply Online
Your resume should highlight your key achievements and skills.
Some of the soft skills Morgan Stanley look for in candidates include:
- Excellent teamwork abilities
- Communication skills
- Leadership ability
- Attention to detail
- Planning and time-management
- Problem-solving ability
Try to highlight any non-academic skills or hobbies that demonstrate these skills and your personality traits.
Format your resume clearly and neatly to increase your chance of it being selected for the next round of the application process.
You might be asked some specific questions as part of your online application. These need to be answered fully and to the best of your ability. You may also be asked to submit a cover letter.
Your cover letter should explain why you want to work at Morgan Stanley and why you are best suited to the position. All the information included must be relevant to the area you are interested in working in.
It is worth remembering that Morgan Stanley accepts applicants from a range of academic backgrounds.
So, although finance and business backgrounds are popular, applicants have been chosen from humanities or the arts.
After submitting your application, you will be able to track progress on your Morgan Stanley profile online.
Step 3. Take Some Online Tests
After your resume passes the initial screening, you will be asked to confirm if you wish to pursue your application.
Prior to acceptance as an intern, a range of online psychometric tests and aptitude tests must be completed.
These tests can include:
- Numerical reasoning
- Verbal reasoning
- Situational judgment
- Inductive reasoning and logical thinking
Your invitation email will list which tests you need to complete as part of your application.
The best way to succeed at the aptitude tests is to practice beforehand.
Some of the questions can feel unfamiliar, so it is wise to get a feel for the test format prior to taking the tests.
Step 4. Attend an Interview
After the successful completion of the online application and aptitude tests, you will be invited to an interview. This could be via telephone, video or in-person depending on the location.
To set yourself up for a high chance of success at an interview, arrive with a positive attitude. If attending online, present yourself professionally and communicate clearly.
Make sure you know everything you have written on your resume and can talk around the information.
Be honest about what you currently know about finance. Having a can-do attitude is more important than specific financial knowledge.
During the interview it is important to:
- Be yourself and express your personality
- Express your willingness to learn and develop
- Be passionate and excited about the opportunity
- Show genuine interest in the role you are applying for
Prepare and practice your answers to common interview questions. This will help you express yourself with confidence at your interview.
This interview will include general interview questions to get an idea of your motivations and aptitude for the role.
For example, one of the questions you are likely to be asked is “Tell me about yourself”. Your answer should showcase your personality, positive outlook and enthusiastic attitude.
You may also be asked to attend a technical interview, depending on the internship you have applied for.
JPMorgan now operates under the name JPMorgan Chase & Co. One of the founders of Morgan Stanley was the grandson of J. P. Morgan.
Although they are similar companies, they operate as separate entities.
You must first apply for an internship placement via the careers page on the Morgan Stanley website. After you have submitted the application form, you will be asked to complete a selection of psychometric tests.
If you are successful, you will be invited to interview. Applications are highly competitive so you must fully prepare at each stage of the process.
After you have submitted your application and completed the online pre-employment tests, it can take around three weeks to hear back about your application.
Morgan Stanley is a bank that values diversity. It places the emphasis on innovation and recognises the achievements and contributions of interns.
Prepare for your interview by researching the organization and the role. For example, for a Morgan Stanley wealth management internship, you may want to research the range of financial products and services they offer to their clients.
Morgan Stanley emphasizes learning about what motivates you and finding out how you can contribute to the team.
Be aware of this and prepare examples that highlight this during your interview.
Given that the acceptance rate for an internship is less than 2%, it is very hard to secure an internship at Morgan Stanley.
That shouldn’t put you off trying though.
Persevere with the application process and you could be accepted onto one of the most prestigious financial internships.
The culture at Morgan Stanley is influenced by their five core values.
These are: do the right thing, put clients first, lead with exceptional ideas, commit to diversity and inclusion and give back.
The culture is hard-working, supportive and innovative.
Morgan Stanley supports its employees and their families by providing benefits and perks. These include flexible working options, healthcare and wellbeing support and employee networking groups to promote career development.
Associates at Morgan Stanley earn an average of around $100,000 per year. This varies depending on location and division.
Check with the careers page on Morgan Stanley for current salary rates.
Final Thoughts
A Morgan Stanley sophomore internship is a valuable opportunity. It provides a real-world, project-based experience of working in the banking and finance sector.
Being able to network with other departments gives you an insight into where you best fit within the company. This helps you decide what direction to take your career in.
A summer internship at Morgan Stanley requires hard work, determination and perseverance. It identifies individual strengths that help determine your future career path in finance, investment and beyond.
