Your Opportunity as an Analyst in Global Capital Markets

An overview of this program’s objectives and how you can benefit

As the nexus between Investment Banking and Sales & Trading, Global Capital Markets (GCM) comprises traditional market coverage and underwriting groups, as well as a number of product groups focused on providing customized capital structure solutions for our clients. You will be working with our clients on complex, innovative financing and risk management solutions in the fast-paced environment of a trading floor with immediate access to market information. Our objective is to teach you how to structure and execute capital-raising transactions for the firm's clients. The environment is market-driven and reflects that of a trading "desk" where you would potentially sit right next to your Managing Director. The GCM experience and our structure will provide you with a high level of responsibility early in your career. Opportunities in the Americas include work in New York City, São Paolo, or Menlo Park.

The Analyst Program in Global Capital Markets (GCM)
How the program works and the day-to-day experience you can expect

During your career as an analyst in GCM, you will work in one of our main departments: Equity Capital Markets, Fixed Income Capital Markets, or Leveraged & Acquisition Finance. The roles and responsibility vary by group.

If you work in Equity Capital Markets, you will learn how to read complex financial models. You will become extremely proficient in  basic multiples such as P/E and Aggregate Value/EBITDA, which are important in understanding how to value companies.   You will learn how equity deals are priced,  allowing you to play an active role in the origination and execution of transactions. You will work closely with your Corporate Finance counterparts in IBD.

In Fixed Income Capital Markets, you will  provide clients with valuable updates on market news and trends, including how these affect their access to the debt capital markets. Other responsibilities include weekly market updates, working with our trading and syndicate desks on rate views, product management, and assisting in deal execution. Within the FICM product groups you will also build and run complex financial models. A well-trained Analyst is an important asset in winning new mandates, executing derivative trades, and structuring transactions.

In Leveraged & Acquisition Finance, you will provide clients, both corporate and financial sponsors, with various financing alternatives in the context of debt and/or loan financing, leveraged buyouts, and acquisition financings.  As part of the team, you will provide advice on structure, tranching, and pricing,  gather information, and prepare client presentations.

Launching Your Career
The initial training that you receive on starting the program

Your analyst career begins in July with a thorough five-week training program at our headquarters in New York City. The program consists of a variety of presentations and exercises led by experts ranging from professors and industry leaders to current Analysts and enior bankers. It includes course work in accounting, industry and product-specific training, introduction to Morgan Stanley proprietary analytical tools, as well as an overall education about the firm. Throughout the program, you have the opportunity to work in small groups with your classmates. Numerous social events are hosted to give  you  a chance to  get to know  other first year Analysts within, your  new division and across the firm. Whether you earned a liberal arts or finance-related degree, Morgan Stanley's premier training program provides you with all the necessary skills so you can hit the desk running.

Developing Your Career
What you can anticipate as you make progress and after completing the program

After completing the formal training program, your training will continue on the job. Senior management takes a keen interest in your progress as an Analyst and will look to you for fresh perspectives and new ideas. You will be encouraged to take on responsibility quickly with a view to developing your knowledge tool kit. Senior bankers regularly host training sessions on various topics including new trends in the marketplace, group overviews, and how to better partner within the firm to serve our clients. As an Analyst, you will have a mentor to guide you, andto further develop your careers, senior managers will evaluate you and provide you with feedback.

Many Analysts will choose to rotate within Global Capital Markets, the Investment Banking Division, Sales & Trading, and across the globe, in both product and industry groups. This rotation generally occurs at the start of your third year. Also, exceptional Analysts may be invited to apply for promotion to Associate, which provides you with a long-term career at the firm.

Is Global Capital Markets (GCM) Right for You?
A checklist to help you decide if you have the skills and temperament for this area

Are you interested in the financial markets, and do you have a desire to learn about how to successfully operate in the context of the global capital markets? If so, GCM is the place for you. As you are thinking about where to launch your career and how you can make the most impact, you should also consider the following:

• Are you comfortable working closely with senior team members?
• Do you like to be in a fast-paced environment?
• Do you have strong analytical and numerical skills that put you at ease with financial data?
• Are you a committed team player with the ability to manage a wide range of responsibilities?
• Are you driven to achieve results, and will you push yourself to perform well under pressure and against tight deadlines?
• Can you articulate complex ideas simply and summarize them effectively in your speaking and writing?

Requirements

To apply for the program, you must be a rising college senior with an outstanding academic track record and a strong interest in the financial markets.

Selection Process

As a candidate, you will go through one or two rounds of interviews on campus followed by a half-day of interviews in the New York office. During campus interviews, you are interviewed simultaneously by two bankers. If you move forward in the process, you will be invited to the office for a "Super Day" which consists of five to six one-on-one interviews. The interview process allows you to meet with a variety of our bankers from various groups and level of seniority. Our goal is for you to truly gain a sense of our department and the people who make up GCM.

If we do not have a recruiting program at your school, we will review your resume and contact qualified candidates for a phone conversation potentially followed by an interview in the office.

How to Apply

The GCM North America hiring process is centralized out of our New York office. Please visit our website at http://www.morganstanley.com/about/careers/recruiting/apply.html to apply for your desired position. If you feel that your skills are suited to more than one department, please apply to more than one. In addition, please contact your career center to learn more about the firm and see if we have a recruiting program at your school. If so, please also apply via your career center's channels.

Deadlines

If we have a recruiting program at your school, please ask your career center about the timeline. When applying on our website, applications for the Full-time Analyst Program will open up around the end of August and will remain open until the end of November/beginning of December. Generally, interviews take place in October.