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Morgan Stanley Cougars Cruising For Young Bucks

Like Peter Thiel and Demi Moore, James Gorman is after young blood.
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(Getty Images)

James Gorman (Getty Images)

Morgan Stanley used to be a hot commodity amongst young college grads looking to score quick on Wall Street. But times have changed. Investment banking just isn't sexy as it once was, and now everyone is drooling over Facebook and Snapchat. But old Morgan Stanley's still got a few tricks up the old sleeve – namely, handing out promotions to kids who are still getting used to the taste of beer. As eFinancialCareers reports, some special 21 year-olds are making associate in as few as four months:

According to multiple public profiles of Morgan Stanley’s New York-based technology associates, it’s eminently possible to join the bank as an analyst in tech and to get promoted to associate anything from four to nine months later. People are making associate in Morgan Stanley’s U.S. team within less than 12 months of leaving university.

But these aren't your standard junior analysts and budding wealth advisers taking months to reach a rank that used to take around three years. Morgan Stanley's managers are specifically on the lookout for promising tech studs.

Want to get a quick promotion to associate at Morgan Stanley? Forget the investment banking division (IBD). Forget sales and trading. Try the tech team. Specifically, try the tech team at Morgan Stanley in New York City. There, it seems, you can make associate within record time

That's one way to stem the tide of elite college graduates flooding Silicon Valley instead of taking up positions at a bank whose chief retention strategies for junior bankers of late have been slashing bonuses and making employees sign loyalty oaths. By contrast, the approach with techies has been more, Oh, you think Silicon Valley can please you like I can? Baby, I'll give you a promotion right here, right now, I don't care who's watching.

The irony is that some of those young bucks may be the ones programming their colleagues out of a job amidst a $1 billion cost-cutting exercise know euphemistically as Project Streamline.

Morgan Stanley is promoting special 21 year-olds after 4 months [eFinancialCareers]



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