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	Your Opportunity as an Analyst in Sales & Trading

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

As the needs and demands of asset classes and users of capital become increasingly complex, substantial opportunities are created across Sales & Trading for our Analysts. The depth and breadth of experience you gain will be matched only by the high level of responsibility you are given early in your career with Morgan Stanley. Intensive and challenging, the Sales & Trading Analyst Programme is designed to allow maximum exposure to a variety of job functions within the division.

The Analyst Programme in Sales & Trading
How the programme works and the day-to-day experience you can expect

Within the different business functions the following roles exist for Analysts joining the programme:

• Salespeople Communicating value-added ideas to their clients based on their own opinions and the firm's research, and managing client relationships
• Traders Providing liquidity for our clients and managing the firm's residual risk positions
• Sales Traders Interacting with the trading desks of our clients, giving market insight and facilitating customer orders
• Research Working with traders and salespeople to provide sophisticated investment strategies
• Structured Product Groups Integrating the structuring, marketing and origination of products, such as structured interest rates, credit derivatives, and asset-backed securities

Roles and responsibilities depend on the product or function that you join but may include:

• Developing research into actionable trading ideas and pitching them to clients
• Designing new structures and payoffs for the sales force to market to clients
• Running pricing models
• Acting as a middle-man between the client and our trading desk to manage currency trade executions
• Actively managing the relationship between the firm and the hedge funds to attract more business

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

The Analyst Programme begins with the Firmwide Institutional Securities Training Programme in London with peers from other Investment Banking, Investment Management and Private Wealth Management. The training covers financial modeling and capital markets and enables Analysts to grasp a broad understanding of each business in the Institutional Securities group while they deepen their capital markets knowledge and network amongst their Analyst peers.

Afterwards, Analysts undertake the Sales & Trading specific training which generally consists of:

• Two weeks of division-specific classroom training
• Intensive IT training, including Bloomberg, Excel and desk-specific applications
• Practical skills sessions
• Regulatory exam Financial Services Authority (FSA) preparation

In addition to the formal training, the Analyst programme includes the opportunity to hear from experienced professionals in the division and to participate in practical workshops, a structured mentor-and-buddy programme, and organised social events. This will enable you to build a network of contacts throughout the division and the firm.

Developing Your Career
What you can expect as you progress through and complete the programme

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 career. To help in this process, you will be assigned a mentor to ease your transition to the corporate environment, provide career guidance, day-to-day advice, and to connect you to the Morgan Stanley network.

Analysts are encouraged to investigate other product areas and functions within the Sales & Trading division.

Additional training throughout the year will enable you to enhance your product knowledge as well as develop your professional skills. We also support you in taking language classes and financial examinations, such as Chartered Financial Analyst (CFA) and FSA qualifications, where necessary. In addition, we have a tuition reimbursement programme for Analysts that are interested in continuing their education outside Morgan Stanley.

The programme typically has a two-year duration, at which time, performance permitting, you may be considered for an accelerated career path to Associate level.

Regional Programmes
We hire candidates for positions throughout the EMEA region. Although the majority of our opportunities are in London, we have a limited number of positions available across the rest of the region. 

Is Sales & Trading Right for You?
A checklist to help you decide if you have the skills and temperament for this area

• You are able to analyse and interpret complex information quickly and accurately.
• You have a strong aptitude for numbers.
• You actively generate and share new ideas.
• You can communicate complex ideas clearly and succinctly.
• You thrive under pressure and changing situations.
• You are committed and work hard toward the achievement of goals.

Requirements
An outstanding academic record with a minimum 2.1 honours degree or equivalent and a keen interest in the financial markets is required. Candidates from all degree disciplines are encouraged to apply.

Selection Process
The selection process consists of two stages, including interviews and an assessment centre. At the assessment centre, candidates can expect to be assessed in a number of exercises comprising a group exercise, a presentation exercise, a numerical reasoning test, and interviews with experienced management from the division.

How to Apply
To submit your application, please apply online via our website.

Deadlines
Please apply online by 3 December 2010.

	Your Opportunity as a Quantitative Off-Cycle Intern in Sales & Trading

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

Your specialist numerical and research skills would be the key to identifying opportunities in the Sales & Trading division. We have opportunities throughout the Sales & Trading division including Equity Derivatives, Quantitative Strategies, Quantitative Modeling, Foreign Exchange, Interest Rates, Credit, Securitized Products, Commodities, and Emerging Markets.

How the programme works and the day-to-day experience you can expect

The Quantitative Off-Cycle internship programme is designed to help you experience the culture and atmosphere of Morgan Stanley and also allow you to explore opportunities in Sales & Trading. You would be assigned to a specific team where you would work closely with accomplished professionals on a series of substantive projects. You would also have the chance to learn about the activities of other teams throughout Sales & Trading.

The programmes vary in length depending on business needs and candidate availability but typically last for 3 - 6 months.

Throughout the programme, you would typically benefit from individual coaching and continuous feedback, enabling you to maximise your opportunities and make an informed decision about a long-term career with the firm.

Within the different business functions the following roles exist for Quantitative Off-Cycle Interns joining the program:

Strategists: Strategists sit on the trading desk, are the primary modellers for new products, and team with the traders on delivering innovative trade ideas using models to analyse risks and opportunities in trading books for complex derivatives. Responsibilities include creating models and strategies the desk will use to drive trading decisions, analysing and managing the risk of the positions currently on the books, creating pricing and marking models and creating trader efficiency tools.

Quantitative Modellers: The Quantitative modellers, utilizing large, and often incomplete and asynchronous financial time series data, perform empirical research on market dynamics.  The firm relies upon the theoretical correctness and computational efficiency of this research and these models for identifying revenue generating opportunities and for managing large risk positions.

Traders: Providing liquidity for our clients and managing the firm's residual risk positions

Structured Product Groups: Integrating the structuring, marketing and origination of products, such as structured interest rates, credit derivatives, and asset-backed securities

Developing Your Career
What you can expect as you progress through and complete the programme

Management takes a keen interest in your progress as an Intern, and you will be encouraged to take on responsibility quickly with a view to developing your experience. To help in this process, you will typically be assigned a "buddy" who will act as your confidant and provide you with day-to-day advice.

At the end of the internship, you will have gained first hand knowledge of the role of an Analyst in Sales and Trading. In addition, you will have had the opportunity to build a strong network amongst your peers and professionals within the business and have a strong understanding of the Morgan Stanley culture.

Successful quantitative Off-Cycle interns may receive a full-time offer of a role at the end of the internship. 

Is Sales & Trading Right for You?
A checklist to help you decide if you have the skills and temperament for this area

• You have an active interest in the financial markets and how they are influenced by external markets.
• Your analytical and quantitative skills enable you to rapidly assimilate and evaluate complex numerical information.
• You are insightful and creative in the way you test and interpret information.
• Your communication skills enable you to explain complex propositions in a simple and compelling manner.
• You are a team player who puts results ahead of individual recognition.
• You are able to create profitable trading opportunities for both Morgan Stanley and our clients.

Requirements

• You are studying for a Masters or other advanced degree with expertise in a quantitative subject.
• You have a strong mathematical component to your first degree.
• You have strong programming skills.
• You have a keen interest in the financial markets
• You are able to communicate effectively in both written and verbal English.
• You are available to take up full time work in 2011 or 2012

Selection Process
If selected, you will have a series of interviews with both a technical and behavioural focus via telephone, videoconference or at our offices in London. 

How to Apply
Applications can be submitted from early September 2010 and will be reviewed as they are received so we encourage candidates to apply early. To submit your application, please apply online via our website.

Deadlines
The deadlines for the Quantitative Off-Cycle Programme vary so please check the website for details.