Summer Intern Review

Like many people, this was my first time participating in a virtual work experience so I was slightly apprehensive about how it was going to work in practice. However, Morgan Stanley (MS) were extremely accommodating which made the experience very enjoyable and fun. For example, they held various Q&A speaker events with senior individuals from the firm like [This section of the comment has been removed by a member of the RateMyPlacement Team because it did not meet our site terms and conditions] via Zoom and all the work that I did was real work that the firm was doing (not made up just for the internship). There were a few times during the internship where I had issue with my wifi connection which affected my presence at Zoom meetings, however everybody was understanding and nice about it.

I heard and have experienced at large organisations where the environment is very hierarchical and where senior employees are inapproachable. However, I did not experience any of that at MS. I felt valued and a part of the team. I reached out to various MDs and EDs for virtual catch-ups/coffee meetings and everybody was willing/friendly. However, I am aware as an intern that I only get to see all the good/positive things about the firm, so my view is biased. Although, when asking currently employees a similar question to this, I received positive responses.

I was given a buddy (a VP) who was there to support/guide me throughout the whole internship experience. I had no prior corporate finance experience so I was a bit clueless with everything, however my buddy assured me that no question was a stupid question which was reassuring. She was so friendly and answered all the questions that I had. My manager/internship lead as well as HR was also friendly and there to support me throughout. They were always easily contactable via email/Skype message. Although, I would have preferred to have had more review meetings with HR/my manager to assist in personal growth/development as we only had a mid-point review and end-review which was close in proximity.

In terms of knowledge of corporate finance, prior to this virtual internship I had no prior corporate finance experience. I only knew about what I had read/learnt online. After this internship, I now know a lot more about this area such as in Investment Banking and Commodities Trading. This is definitely useful knowledge for the future as I hope to pursue a career in this space. In terms of skills, I conducted two presentations during the internship which was nerve-wracking, but allowed me to develop my presentation/public speaking skills.

The virtual experience was well structured and I could tell that employees at MS tried hard to make this internship an enjoyable one. At least every week I had speaker events with employees from the firm which followed a format of where they would speak and then there would be a Q&A session. I would also have weekly catch-ups with my manager and buddy which was nice as I got to know them a bit more and what they did during the week.

The general atmosphere was positive and happy. Everybody that I met was approachable which made me feel at ease. Like every organisation, there are definitely some employees that are more serious/strictly work but overall everybody is nice and MS is generally a great place to work at. I had a few networking/informal events with the other interns and employees at the firm. For example, we did a virtual quiz and escape room which was fun.

Prior to starting the internship, the interns were given comprehensive Excel training from Financial Edge Training. During the induction day we were also given Financial Markets Training from Financial Markets Training Ltd. and training on conducting virtual presentations and professional etiquette. These sessions were really useful in that I got to learn how to use/navigate Excel efficiently and increased my knowledge about corporate finance. We were also given access to LinkedIn Learning where I viewed materials for improving presenting/public speaking and managing a team.

I already knew about the MS' culture/values from my research when applying for the internship. However, during the internship MS really emphasised it by referring to it and speaking about it a lot. There were various events throughout the internship that showcased the firm's culture/values such as the employee network/diversity event and the Giving Back Map-A-Thon event. All of these actions show to me that MS' culture/values are 'real' and they do care about it and it is not just for show/'face'.

I was paid a decent salary and given the employee benefits like access to employee discounts and free access to the Headspace app. The internship was shortened from 10 weeks to 7 weeks but we still received the 10 weeks pay which was good. I was also given an extra £1000 for living costs in London, however before COVID-19, I checked it was not enough to entirely cover rent in London but it would have been useful since it is expensive to live in London. Due to it being a virtual internship I did not have to move to London, but I was still given the extra £1000.

I think MS tried hard to facilitate virtual networking between the interns/employees and there were various opportunities for networking and meeting other employees. For example, HR held zoom networking events where interns would be separated into small breakout rooms where we could interact with each other. As mentioned, there were also fun events to facilitate networking like the Map-A-Thon event which was nice. Although, I would have liked some of these networking sessions to be a bit longer as sometimes we ran out of time/over the scheduled time.

Overall, it was an unforgettable experience so I would definitely recommend anybody to apply. Even if corporate finance is not an area that you want to pursue I would still recommend doing this for the experience as it looks great on your CV/Cover Letter and to gain transferable skills/knowledge. Although I would have still preferred to do a face-to-face internship than a virtual one as I would like to meet people in person and to see the office etc.