Your Opportunity as an Analyst in Sales & Trading

As the needs and demands of both asset classes and users of capital become increasingly complex, this creates substantial opportunities across Sales & Trading for our Analysts. What you gain in depth and breadth of experience 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. As an Analyst you will have the opportunity to rotate within the different functional areas of the division, allowing you to develop your product knowledge as well as further enhance your analytical and quantitative skills.

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 Work with traders and salespeople to provide sophisticated investment strategies
• Structured Product Groups Integrate 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 two weeks on the Firmwide Institutional Training Programme in London with peers from Investment Banking and Private Wealth Management divisions, covering financial modeling and capital markets. This 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 comprises of:

• Two weeks of division-specific classroom training
• Rotations through various job functions and product groups across the trading floor
• 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 anticipate as you make progress and after completing 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.

Mobility is an important part of building a Morgan Stanley career, and analysts are encouraged to rotate within the Sales & Trading division and product areas and functions.

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.

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. 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 role-plays, a group exercise, numerical reasoning test, and interviews with experienced management from the division.

How to Apply
Applications can be submitted from September 1, 2007. They will be reviewed as they are received so we encourage candidates to apply early.

Please visit our website at: http://www.morganstanley.com/about/careers/recruiting/apply.html

Deadlines

We encourage you to apply as early as possible as candidates will be selected on a rolling basis. The deadline for applying to the Full-Time European Sales & Trading Analyst Programme is November 11, 2007.

Please Note: the Full-Time deadline for schools in the Nordic Region is October 1, 2007.

Regional Programmes
Locations: London (all divisions), Paris (Investment Banking, Sales & Trading, Investment Management, Real Estate), Frankfurt (Investment Banking, Sales & Trading, Investment Management), Stockholm (Investment Banking), Milan (Investment Banking, Real Estate).

	Your Opportunity as a Summer Analyst in Sales & Trading

Intensive and challenging, the Sales & Trading Summer Analyst Programme is designed to allow maximum exposure to a variety of job functions within the division and to help you make an informed decision about a full-time career at Morgan Stanley. As a Summer Analyst, you will have the opportunity to rotate within the different functional areas of the division, allowing you to develop your product knowledge as well as further enhance your analytical and quantitative skills.

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

The Sales & Trading Summer Analyst Programme is 10 weeks long and offers a unique insight into the firm’s trading floor environment. The Summer Programme typically offers you the opportunity to work in a variety of product areas, providing a clear understanding of how the division operates as a whole.

The programme features:

• Classroom-based product and technical training
• Opportunity to rotate across various desks within equities & fixed income product areas
• Individual and group project assignments
• Senior management speaker series
• Mentor and buddy support
• Workshops
• Networking events
• Regular evaluation and feedback

The Summer Analyst Programme is your chance to experience the excitement of working in finance and in the markets. It is also a crucial step in your career planning and future career success. Exceptional Summer Analysts may have the opportunity to receive a full-time offer at the end of the Summer Programme.

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

The recruiting team works closely with you throughout the programme. Together with your feedback, they help design and implement the strategy for the programme. The programme structure gives you the chance to revisit the areas of the division where you would like to develop your existing knowledge, deepen relationships with the professionals within the product group, and gain a greater perspective on your involvement with the team. We anticipate this experience will further assist in the important decision-making process you will face at the end of the summer.  

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
We accept penultimate-year undergraduate students with outstanding academic achievements. We welcome applicants from all degree disciplines especially those with a keen interest in the financial markets.

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 role-plays, a group exercise, numerical reasoning test, and interviews with senior management from the division.

How to Apply
Applications can be submitted from September 1, 2007. They will be reviewed as they are received so we encourage candidates to apply early.

Please visit our website at: http://www.morganstanley.com/about/careers/recruiting/apply.html

Deadlines

The deadline for applying to the European Sales & Trading Analyst Programme is December 31, 2007.

Regional Office Internships

Paris
The Paris office offers internships in Investment Banking, Sales & Trading, and Investment Management. Internships vary in length depending on business needs and candidate availability. For further information, email rec_rh@morganstanley.com
Deadline: Recruitment is on a continuous basis
How to apply: Online at http://www.morganstanley.com/about/careers/recruiting/apply.html

Frankfurt
The Frankfurt office offers 2-3 month internships in Investment Banking, Sales & Trading, Investment Management, and Real Estate.
Deadline: Recruitment is on a continuous basis
How to apply: Online at http://www.morganstanley.com/about/careers/recruiting/apply.html