Your Opportunity as an Analyst in Investment Banking

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

Analysts have long been recognized as essential to Morgan Stanley's investment banking excellence. The firm was the first on Wall Street to introduce an Analyst Program when it hired two women out of Smith College's undergraduate program in 1972. Since then, the Investment Banking Analyst Program has developed into one of the most successful and competitive on Wall Street. Considering the Global Head of the IBD Analyst Program is a former IBD Analyst herself, we are confident that Analysts will have a rewarding experience.

From initial public offerings to mergers and acquisitions, Analysts are exposed to the different components of the investment banking business. Analysts see firsthand how GCM functions and also learn hands-on how to model a complex financial scenario. Analysts develop a comprehensive skill set including financial modeling, valuation techniques and strategic planning. Analysts become masters of multitasking, usually working on several assignments simultaneously. The depth and breadth of experience Analysts gain during their tenure is matched only by the high level of responsibility they are entrusted with so early in their careers.

The Analyst Program in Investment Banking
How the program works and the day-to-day experience you can expect

Analysts are hired into the IBD Analyst Program, then placed into one of the following business units: Industry Corporate Finance Coverage, Mergers & Acquisitions or Real Estate. During the two-year Program, Analysts work on a variety of corporate transactions and take significant responsibility for the delivery of elements of their projects.

Morgan Stanley's lean deal team structure affords Analysts the opportunity to work closely with senior officers on a variety of projects. The work is challenging and Analysts are encouraged to roll up their sleeves, dig into financial statements, and think creatively.

In addition, Analysts may attend client meetings and be asked to speak to pages of a presentation they have worked on. Morgan Stanley Analysts are expected to pursue their assignments with excellence, a collaborative spirit, and by upholding the highest ethical standards.

The roles and responsibilities of an Analyst vary by department, but might include:

• Analyzing detailed corporate and financial information
• Creating statistical exhibits that analyze comparative financial performance
• Building models to illustrate projected financial results and value to companies
• Developing marketing memoranda
• Participating in the execution of financings and M&A transactions
• Delivering sections of research presentations
• Acting as the liaison for the team and other parts of the firm

The firm encourages open lines of communication between professionals at all levels, and has implemented a formal mentorship program for its junior bankers. Analysts are matched with an officer-level mentor who remains with them throughout their employment to provide career guidance, networking connections and other leadership support.

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

The Analyst Program begins in July with five weeks of intensive classroom-based training typically covering an introduction to the firm, the essentials of finance, accounting and computing software or quantitative analysis. The classroom provides an environment where Analysts can exchange ideas and learn from their peers. Analysts also benefit from practical sessions covering topics such as valuation techniques, modeling methodologies and real-life case studies. During the training, Analysts work in smaller teams to put valuation and modeling skills to practice and develop a “pitch book,” which is presented to senior bankers, as if they were clients, at the end of the initial training.

The training program also hosts a series of guest speakers who talk to Analysts throughout the five weeks about a range of subjects including the importance of networking, community involvement and stress management. Analysts also attend a number of social events throughout this five-week period. At the end of training, we hope that Analysts will have built a strong network among their peers and be able to understand financial concepts, build a dynamic model from scratch and have a strong understanding of the Morgan Stanley culture.

As an Analyst's career progresses, they may continue to participate in regular Analyst training sessions, ensuring that their skills and knowledge continue to grow. They also continue to have the guidance of a mentor, who can provide career advice and facilitate networking connections.

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

The firm provides ongoing training and mentoring throughout the Analyst Program. Analysts will be encouraged to take on responsibility and develop their careers as fast as they are able to.

Although the program typically has a two-year term, in certain circumstances an Analyst may be considered for a third year or offered a position in another division. The Senior Analyst position would allow you to broaden your experience of investment banking and take advantage of the firm's mobility opportunities.

Exceptional Senior Analysts may be offered the Accelerated Career Path (ACP), which promotes someone directly to Associate-level positions and a long-term career with the firm. Alternatively, we hope that Analysts find that the skills and experience they develop are highly valued in other industry sectors where results and intellectual focus are critical.

Is Investment Banking Right for You?
A checklist to help you decide if you have the skills and temperament for this area

• You have excellent quantitative and analytical skills and are comfortable working with financial data.
• You are driven to achieve results and perform well under pressure.
• You are a committed team player.
• You are able to manage multiple projects simultaneously.
• You are able to articulate complex ideas simply and summarize effectively.
• You're committed to excellence in your work and maintain high professional and ethical standards.

Requirements

You should have a strong academic background and a four-year Bachelor's degree or equivalent. Although a background in accounting or finance is helpful, we hire Analysts who have studied a variety of subjects, including languages, philosophy, and art history.

Selection Process

Selected applicants will have the opportunity to meet with Morgan Stanley bankers both on campus and in our offices.

How to Apply

Please visit our website at: http://www.morganstanley.com/about/careers/recruiting/apply.html. You should also check with your school's career center for specific campus application guidelines.

Deadlines

For application deadline information for the North American Investment Banking Analyst Program, please consult with your school's career center.