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Urgent advice needed! - Equity Trade Support in Morgan Stanley

Hey AF,

I just got a job offer from Morgan Stanley for their equity trade support division. It is a 6 month contract based job. Pay is average. I have been applying for a few ER positions. I want to know what to expect. I don’t plan on working here for more than 6 months. I also plan on studying for level 3 in the process.

Do you think this is a good job to start off in? I am a fresher. Also, is this something that could translate into equity research in the future?
Most importantly, will this be considered as relevant experience for the CFA charter?

I have to revert to them soon. Any kind of advice would be appreciated.

Thanks

¯\_(ツ)_/¯

Hey, you want to spend more than 6 months for full-time studying? It’s not fair for us laugh.

I repeat: CFA is the abbreviation of my last name!

Lol Pierre! No no, I meant I want to start studying ‘somewhere in between those 6 months of work’ (which will most likely start in September) wink

¯\_(ツ)_/¯

Trade support would likely be considered relevant experience I would imagine. People have gotten ER jobs working gigs like that but its not a natural transition, it can be done though. Do you need the money? If so take the job, if not, dont I guess. How long you are out of work can work against you, working for 6mo only can also kind of work against you.

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

Its a contract based assignment(6 months on contract) . So its a third party firm that morgan stanley recruits for their trade support i guess (essentially i will be working with morgan stanley, not for them, guess i failed to mention that in the first post)  Does that make it less lucrative? Also i have just started looking for work since my level 2 results. Should i wait for something more relevant to pop up? 

To me, the pros of this job are: working with a bb, possible relevent work experience and travelling/work hours. 

Cons include, not being anything related to asset management/investment management/ER which was my main preference, my own lack of familiarity with the job,contract based work. 

What is holding me back is the contractual part and the fact that i am not directly working for morgan stanley. Also if i get something more relevant, it will be difficult to take that up because i will be on contract. 

¯\_(ツ)_/¯

i mean work is work, its likely a temp gig that they use to weed people out for full time. It being BB isnt the end all be all, you actually might do a lot less than at a smaller shop. The name is ok but this isnt investment banking its BO/MO type work.

What are the contract terms? Like what recourse do they have against you if you dont finish the term because you find another job?

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

I haven’t t received the contract terms yet. Just got a call today seeking my approval. Still have to talk to the HR department et al.

¯\_(ツ)_/¯

Also, the pay is alright, its probably fair since i am a fresher. 

¯\_(ツ)_/¯

If you don’t need to earn money now and if the job is not as high as what you expect to do in future, if I were you, I wouldn’t do it. There will be a lot of opportunities when you finished the level 3.

I repeat: CFA is the abbreviation of my last name!

What is your second job offer? If you only have one option, the choice is pretty clear…

“The aliens on Mars cloned Hillary Clinton.” - Turd Furgeson

Is this one of those IB KPO jobs based in India/Bangalore? Should probably point this out to the Western readers on here. 

I’ve worked with these sorts of teams before.. it’s not really work that will transition easily to ER… but given no job vs job, the choice is clear.

Second one would include ER in a boutique. But that would be through a family friend who is an MD there. I don’t want to use that path unless i am completely out of options before september. 

¯\_(ツ)_/¯

they will never move you from this ops position to the front analyst role

BenjaminGraham wrote:

Second one would include ER in a boutique. But that would be through a family friend who is an MD there. I don’t want to use that path unless i am completely out of options before september. 

Why would you not do this? 

hei.so wrote:

BenjaminGraham wrote:

Second one would include ER in a boutique. But that would be through a family friend who is an MD there. I don’t want to use that path unless i am completely out of options before september. 

Why would you not do this? 

Because he is clueless to how the industry works? OP use this right now, very few people in the industry are where they are through pulling up their boot straps and out working everyone. The entry level specifically is all people who got jobs because they/their parents etc know someone. If you arent comfortable with that, you likely wont be comfortable in finance.

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

Yayyywork wrote:

hei.so wrote:

BenjaminGraham wrote:

Second one would include ER in a boutique. But that would be through a family friend who is an MD there. I don’t want to use that path unless i am completely out of options before september. 

Why would you not do this? 

Because he is clueless to how the industry works? OP use this right now, very few people in the industry are where they are through pulling up their boot straps and out working everyone. The entry level specifically is all people who got jobs because they/their parents etc know someone. If you arent comfortable with that, you likely wont be comfortable in finance.

This sums up my situation. 

¯\_(ツ)_/¯

What situation? Go talk to the family friend MD. If you don’t want it, refer me.

BenjaminGraham wrote:

Yayyywork wrote:

Because he is clueless to how the industry works? OP use this right now, very few people in the industry are where they are through pulling up their boot straps and out working everyone. The entry level specifically is all people who got jobs because they/their parents etc know someone. If you arent comfortable with that, you likely wont be comfortable in finance.

This sums up my situation. 

Not being comfortable with using connections to get what you want? That is literally all the top jobs in finance do, its not that they are the most fantastic minds in the world, most of them are pretty smart and know the right people. Banking is essentially entirely about relationship building, running a fund is as much about capital raising as it is about managing investments and capital raising is all about relationships.

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'