• 24 Jun 2014 at 2:59 PM

New York’s Hottest New Club Is Gorman

This place has everything: 22 year-olds willing to work 100 hours/week, an exclusive location next to the Times Square M and M’s store, the attention of a Fox Business reporter who obsessively tracks the size of the CEO’s balls, a regular who looks like a zombie, $20/night Seamless allowance, 24 year-olds who don’t give a FUCK, and a bouncer who’ll throw you out for calling him Jim.

Morgan Stanley, owner of the world’s largest brokerage, received about 90,000 applications for its summer program for analysts and associates. More than 1,000 people, or roughly 80 percent who received offers, accepted a spot and began working in the past few weeks, Chief Executive Officer James Gorman, 55, said today in a memo to employees. Mary Claire Delaney, a spokeswoman for the New York-based bank, confirmed the contents of the memo. Wall Street firms have been touting the selectivity of their programs for recruiting junior talent to counter worries that they’re less attractive employers in the wake of the financial crisis. The acceptance rate of less than 2 percent is lower than Harvard College’s 5.9 percent for the coming year’s freshman class.

It’s unclear where the applicants who turned Gorman down are headed, but Club Lloyd seems like a pretty good guess.

Morgan Stanley Gets 90,000 Summer-Program Applications [Bloomberg]

14 comments (hidden to protect delicate sensibilities)
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Comments (14)

  1. Posted by guest | June 24, 2014 at 3:02 PM

    +1 one for the click-thru to the google directions from ms to m and m store.

  2. Posted by guest | June 24, 2014 at 3:06 PM

    but where are the clients' m and m's?

  3. Posted by guest | June 24, 2014 at 3:14 PM

    kids today…

  4. Posted by Quant me maybe... | June 24, 2014 at 3:21 PM

    Just out of curiosity, what does one of these young banker interns make after getting in the door?

    >Guy who wonders if 70,000 of the applications come from Mumbai.

  5. Posted by guest | June 24, 2014 at 3:38 PM

    not enough!
    -disgruntled 3rd year

  6. Posted by Quant me maybe... | June 24, 2014 at 3:53 PM

    Actually, the reason I ask is pretty simple. It costs a lot to live in NYC – figure maybe $2000/mo rent with a roommate, another couple thousand for food and booze and maybe another thousand for a wardrobe that doesn't consist primarily of cargo pants, . It costs even more to actually enjoy it. If Google is paying interns like $17,000 for the summer, is MS in line? Because I think Google has a big dev center in the meat packing district so it's not like you have to move to a totally different job market.

  7. Posted by WWI Afficionado | June 24, 2014 at 4:19 PM

    $2000/mo for intern rent? They're living in squalor in murray hill and sipping $1 beers on Wednesdays at Turtle Bay, they're pocketing a good chunk of change

  8. Posted by guest | June 24, 2014 at 4:23 PM

    most importantly, these are college kids. many are still on their parents' dime and are having their rent covered. 10-15k in boozing money is not bad.

  9. Posted by Goods | June 24, 2014 at 4:47 PM

    The experts speak of a cultural problem, I think they might be right! I also live with roommates; I use four, five, and six years old kids. I save money to enjoy the 17 very interesting museums from nine countries.

  10. Posted by guest | June 24, 2014 at 4:53 PM

    can you leave this comment again, but have it make sense?

  11. Posted by Alt_EST | June 24, 2014 at 6:03 PM

    Seth, also, rumor has it that admission to GORMAN now has reciprocal benefits with the New York's hottest new club: DEALBREAKER. It has everything: brutal treatment of new entrants, old guys screaming about natural gas, zombie bankers, and most shockingly, a guy who defends Texas. Owner Beth Lezzin provides free margaritas and the DJ is a sentient pig who remixes piano standards.

  12. Posted by Adam | June 24, 2014 at 6:31 PM

    Bess at her BESSTTTT !

  13. Posted by guest | June 25, 2014 at 11:59 AM

    Comment of the week frontrunner.

  14. Posted by Guest | June 25, 2014 at 1:24 PM

    maybe time to update the god damn banner