Morgan Stanley
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If anything tells you about compensation, see CEO Gorman's latest quotes from Bloomberg http://www.bloomberg.com/news/2012-01-25/morgan-stanley-ceo-says-workers-complaining-of-pay-cuts-need-new-attitudes.html
If you don't like your pay, leave. Nice attitude. They hire you at flat or equal base comp, and the promise of a bonus as a significant part of total compensation. You are even guaranteed a range your first partial year. It never happens agian. 2008, 2009, 2010 and 2011, the same story. We're sorry. All of the attend of the crash on high paying executive salaries and the fortunes trades and investment bankers make funnels down to tech, ops and support people who also get screwed, and often rely on their bonus comp to pay their mortgages, escalating commuting costs or paying for their kid's education or saving for their own retirement.
Management used bonus comp as a way to get you in the door, and then after that, they reposition it as "gravy" you cannot and should not be counted on. Quite a bit of bait and switch.
If you don't like your pay, leave. Nice attitude. They hire you at flat or equal base comp, and the promise of a bonus as a significant part of total compensation. You are even guaranteed a range your first partial year. It never happens agian. 2008, 2009, 2010 and 2011, the same story. We're sorry. All of the attend of the crash on high paying executive salaries and the fortunes trades and investment bankers make funnels down to tech, ops and support people who also get screwed, and often rely on their bonus comp to pay their mortgages, escalating commuting costs or paying for their kid's education or saving for their own retirement.
Management used bonus comp as a way to get you in the door, and then after that, they reposition it as "gravy" you cannot and should not be counted on. Quite a bit of bait and switch.
Show Comments (1)
You can make a lot of money but be ready for the firm to take most of it away from you!
I work at a front office IT position and began to make $80k plus $10k signing bonus.
The compensation is good but the main concern is that management has created a culture that loses clients and revenue from the firm so no once can operate about their compensation potential.
Salary is based upon 30-40% of all your commissions.
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