FrequentlyAskedQuestions

Whatwelookfor
Whattypesofpositionsareavailableforrecentcollegeoruniversitygraduates?
WehirerecentcollegegraduatesintoourAnalystProgramswithinthefollowing
divisions:EquityResearch,FinanceAdministration&Operations,FixedIncome,
InformationTechnology,InstitutionalEquity,InvestmentBanking,Investment
Management,PrivateEquity,PrivateWealthManagement,PublicFinanceand
StrategicPlanning.
TheAnalystProgramisdesignedforapplicantswhowillcompletetheir
undergraduateoruniversitydegreein2005.TheITAnalystProgramis
designedforcandidatescompletingalllevelsofdegrees,i.e.,BA/BBA/BS,
MA/MS,MBA,PhD.TheJuniorAssociateProgramisdesignedfor
undergraduateoruniversityapplicantsinterestedinEquityResearch.
TheSummerAnalystProgramisdesignedforapplicantswhowillcompletetheir
undergraduateoruniversitydegreein2006orlater.TheITSummerAnalyst
Programisdesignedforcandidatesintheprocessofcompletingalllevelsof
degrees,i.e.,BA/BBA/BS,MA/MS,MBA,PhD.TheSummerJuniorAssociate
Programisdesignedforundergraduateoruniversityapplicantsinterestedin
EquityResearch.
Whattypesofpositionsareavailableforcandidateswithadvanceddegrees?
WehirerecentMBAsandothergraduatestudentsintoourAssociatePrograms
withinthefollowingdivisions:EquityResearch,FixedIncome,Information
Technology,InstitutionalEquity,InvestmentBanking,Investment
Management,PrivateWealthManagementandPrivateEquity.
TheAssociateProgramisdesignedforapplicantsthatwillcompletean
AdvancedDegreein2005.CandidateswithanAdvancedDegreeinterestedin
ITmustapplytotheInformationTechnologyAnalystProgram.
TheSummerAssociateProgramisdesignedforapplicantswhowillcomplete
theirAdvancedDegreein2006.CandidatescompletinganAdvancedDegree
whoareinterestedinInformationTechnologymustapplytotheITSummer
AnalystProgram.

Whattypesofpositionsareavailableforcandidateswithmaster'sorPh.D.
degrees?
WehirecandidateswithgraduatedegreesintoeitherourAnalystorAssociate
Programsbasedontheirlevelofexperience.
WhatacademicbackgroundmustIhave?
MorganStanleylooksforcandidates,inallmajors,whohaveastronginterest
inbusinessandfinance.Ourtrainingprogramsaredesignedtoteachyouthe
basics.Weencouragecandidatesfromalldisciplinesandbackgroundstoapply.
Whatqualitiesdoyoulookforincandidates?
Weseekenergetic,creative,wellrounded,outgoingandselfmotivated
individuals.Youneedtohavetheabilitytolearnquickly,strongquantitative
andanalyticalskillsandadesiretothriveinadynamic,highpressure
environment.
HowwillIknowifMorganStanleyisrightforme?
Tolearnmoreaboutouropportunities,exploreourwebsitetogainabetter
understandingoftheFirm,ourcultureandtheresponsibilitiesyouwillbegiven
fromthestart.Taketimeduringtheinterviewprocesstomeetasmanypeople
aspossibleandfindoutifthisenvironmentisrightforyou.
Howtoapply
WhenwillMorganStanleybevisitingmycampus?
ReviewourOnCampusCalendartofindoutthedatesofourcampus
presentationsandinterviews,orcheckwithyourcareerplacementoffice.
HowdoIapply?
Pleasecompleteouronlineapplication.
CanIapplytomorethanonedivision?
Yes,butthemoreyouknowabouteachdivision,thebetter.Exploreour
websitetolearnmoreabouttheopportunitiesineachareatodecidewhichis
rightforyou.
Whathappensduringtheinterviewprocess?
Mostofourfirstroundinterviewswilltakeplaceoncampus.Dependingonthe

division,secondroundsmaytakeplaceoncampus,butallfinalroundsareheld
atoneofourbranchorregionaloffices.
DoesMorganStanleyoffersummerinternships?
Wehaveanumberofinternshipprogramsforqualifieduniversitystudents.To
apply,pleasecompleteouronlineapplication.
DoesMorganStanleyhiresummerassociates?
WehaveformalsummerassociateprogramsforMBAandothergraduate
studentsbetweentheirfirstandsecondyearsofbusinessschool.Theprogram
lengthisapproximately10to12weeks,andresponsibilitiesvarydependingon
thedivisionalprogram.Thisisavaluableopportunityforyoutogainexperience
inyourareaofinterest,aswellasworkonchallengingandexcitingprojects.
Pleasecompleteouronlineapplication.
RecruitmentProcess
Attendapresentationoncampus
TherecruitingprocessbeginsinSeptembereachyear,whentheMorgan
StanleyRecruitingTeampresentsgeneralinformationaboutcareer
opportunitiesatourFirm.Pleasereviewouroncampuscalendarforalistingof
thedatesaMorganStanleyAsiaPacificrepresentativewillbeatyourschool.If
you'reinterestedinacareerwithus,joinusforthispresentation.Takesome
timetotalkwithourcolleagueswhohaveworkedintheAsiaPacificoffices
they'llexplainthemyriadopportunitiesavailableatMorganStanleyAsiaPacific,
sharetheirownobservationsoftheFirmandwhytheyselecteditfortheir
careers.
Applyonline
WeencourageyoutoreviewthisCareersWebsitetolearnmoreaboutMorgan
StanleyAsiaPacificandtheBusinessUnitsthatarerecruiting.Pleaseusethe
onlineapplicationtosubmityourapplicationtheapplicationhasfurther
informationondeadlinesforeachprogramwerecruitfor.Ifyouqualifyfor
consideration,we'llcontactyoutoarrangeaninterviewtodiscussavailable
opportunities.
Interviewwithus
Wetypicallyhaveatleasttworoundsofinterviewsforourgraduateand

summerprograms.
Interviewswillbearrangedeitheroncampusorviaphoneforthefirstround.
Eachcandidatecanexpecttohaveapproximately2430minuteinterviews.
Thefinalstageofourprocessisusuallyafulldayinterviewsessionheldat
MorganStanley'sofficesinNewYork,London,Beijing,HongKongand
Singapore.Ifyouneedtotravelmorethanaday,youwillbeaccommodatedin
anearbyhotel.
Theseinterviewsarewithourprofessionalsatalllevelsofseniorityandare
designedtohelpyoulearnmoreaboutus,meetourprofessionals,findout
moreabouttheroleandwhatitisliketoworkattheFirm.Itisalsoan
opportunityforustomeetyouandhaveaclearpictureofyoursuitabilityfor
theroleyouhaveappliedfor.Typicalareasthatareexploredinourinterviews
include:problemsolving,analysis,intelligence,decisionmaking,leadership,
interpersonalskills,motivation,beliefsandvalues,careeraspirations,
knowledgeand/ortechnicalcapability.
Ifwedon'tvisityourschool
Unfortunately,MorganStanleyrepresentativescan'tvisiteveryschool.
However,pleasereadthroughthiswebsiteformoreinformationaboutMorgan
StanleyAsiaPacific,reviewthejobdescriptionsfortheBusinessUnitsthatare
recruitingandcompleteouronlineapplication.
InterviewQuestions(AsiaPacific)
Asuccessfulinterviewrequiressolidpreparation.Youranswersshouldbeclear,
conciseandshowyourgenuineinterestintheFirm.Interviewquestionsarenot
alwaysdifficultinfact,somecanbequitesimple.
Belowaresomeexamplesofgeneralinterviewquestionsyoumaybeasked.
Youshouldalsobepreparedtoanswerspecificqueriesaboutyourbackground,
yourqualifications,previousinternshipsorpositionsyou'veheld,yourschool
experiencesandtheaccomplishmentsincludedonyourresume.
Weareinterestedintestingyourinterpersonalskills,motivation,career
aspirations,companyfitandleadership.

Youshouldcomewithquestionsforusaswell!Theinterviewisanopportunity
foryoutoaskaboutyourroleandresponsibilities,thedivisionyouareapplying
toorMorganStanleyingeneral.
Yourschool'scareerservicesoffice,libraryorresourcecentercanhelpyoufind
othersourcesandquestionsasyouprepareforinterviews.
GeneralInterviewQuestions
>Tellmeaboutyourself.
>Whatareyourstrengthsandweaknesses?
>Howwouldyourfriendsdescribeyou?
>Areyouentrepreneurial?
>Whatarethemostimportantthingstoyouinajob?
>Givemeanexampleofasituationwhereyoudemonstratedleadership.
>Giveanexampleofhowyouworkedonateam.
>Howcreativeareyou?Giveanexample.
>Whyareyouinterestedintheindustry?
>Whydidyouchoosetointerviewwithus?
>WhohaveyoumetfromourFirm?Whatdidyoulearnfromhim/her?
>DescribetheidealpositionforyouwithinourFirm.
>Whatqualitiesdoyouthinkmakesomeonesuccessfulinbusiness?
>Whydoyouthinkyouarequalifiedforthisposition?
>Whydidyouselectyourcollegeorbusinessschool?
>Whatcourseshaveyoulikedmost?Least?Why?
>Whatareyoulearningthatwillhelpyouinyourworkwithus?
>Whatdoyoudoinyoursparetime?
>Whatwouldyoulikemetoknowmostthatisnotinyourresume?
InterviewQuestions(NorthAmerica)
Asuccessfulinterviewrequiressolidpreparation.Youranswersshouldbeclear,
conciseandshowyourgenuineinterestintheFirm.Interviewquestionsarenot
alwaysdifficultinfact,somecanbequitesimple.
BelowaresomeexamplesofGeneralInterviewQuestions,aswellasspecific
questionsforInvestmentBankingandSalesandTrading.Youshouldalsobe
preparedtoanswerspecificqueriesaboutyourbackground,yourqualifications,

previousinternshipsorpositionsyou'veheld,yourschoolexperiencesandthe
accomplishmentsincludedonyourresume.
Youshouldcomewithquestionsforusaswell!Theinterviewisanopportunity
foryoutoaskaboutyourroleandresponsibilities,thestrategyofaspecific
grouporMorganStanleyingeneral.
Yourschool'scareerservicesoffice,libraryorresourcecentercanhelpyoufind
othersourcesandquestionsasyouprepareforinterviews.
GeneralInterviewQuestions
>Tellmeaboutyourself.
>Whatareyourstrengthsandweaknesses?
>Howwouldyourfriendsdescribeyou?
>Areyouentrepreneurial?
>Whatarethemostimportantthingstoyouinajob?
>Givemeanexampleofasituationwhereyoudemonstratedleadership.
>Giveanexampleofhowyouworkedonateam.
>Howcreativeareyou?Giveanexample.
>Whyareyouinterestedintheindustry?
>Whydidyouchoosetointerviewwithus?
>WhohaveyoumetfromourFirm?Whatdidyoulearnfromhim/her?
>DescribetheidealpositionforyouwithinourFirm.
>Whatqualitiesdoyouthinkmakesomeonesuccessfulinbusiness?
>Whydoyouthinkyouarequalifiedforthisposition?
>Whydidyouselectyourcollegeorbusinessschool?
>Whatcourseshaveyoulikedmost?Least?Why?
>Whatareyoulearningthatwillhelpyouinyourworkwithus?
>Whatdoyoudoinyoursparetime?
>Whatwouldyoulikemetoknowmostthatisnotinyourresume?
InvestmentBankingInterviewQuestions
Withintheinvestmentbankingindustry,questionscanbemorespecific.You
shouldbepreparedtodescribeyourunderstandingoftheFirm,thefinancial
marketsandhowyouthinkyoucouldcontributetothebusiness.
>Whyinvestmentbankingversussalesandtrading?Whatisthedifference?
>Giveanexampleofyourquantitativeskills.
>Inwhatareaofinvestmentbankingdoyouwanttowork?

>Tellmeaboutthetimeyouworkedthehardestinyourlife.
>Tellmeaboutatimeyouhadtodeveloprelationshipswithothers.
>Doyoufollowthemarket?Forhowlong?Doyouinvest?
>Describeasituationinwhichitwasdifficulttoobtaininformationyouneeded,
andhowyoumanagedtobesuccessful.
>Doyoufollowanystocks?Whichonesandwhy?
>WhatwasMorganStanley'sstockpriceyesterday?
>Describeaninstanceinwhichyou'vehadasignificantimpactonasituation,
eitherinsideoroutsideyourjob.
Sales&TradingInterviewQuestions
Sales&Tradingpositionsrequireyoutothinkquicklyandhaveakeeninterest
inthemarkets,atoleranceforriskandsellingskills.
>WhySalesandTradingversusInvestmentBanking?
>AreyouinterestedinSalesorTrading?Why?
>WhatdoesaTraderdo?WhatdoesaSalespersondo?
>Doyouwanttosellortradeequityordebtinstruments?Why?
>Howdoyoumeasuresuccessinyourlife?
>Whatmakesyouthinkyoucansell?
>WhataboutyourpersonalitywillmakeyouagoodTrader?
>Ifinterestratesrise,whathappenstobondprices,andwhy?
InterviewHintsandTips
Inorderforyoutogetthebestoutoftheinterviewandforustogetthemost
fromyouitisessentialthatyouprepareforyourinterview.Youshouldtake
timetothinkaboutyourexperiencestodate,e.g.academicachievements,
previousinternships,andpositionsofresponsibilityandhowtousethese
experiencestoillustrateyouranswers.Duringtheseinterviewswewillalsobe
lookingforyoutoshowthatyouhavethoughtclearlyaboutthedivisionyouare
applyingtoaswellasastronginterestinFinancialServices.
Youshouldcomewithquestionsforusaswell!Theinterviewisatwoway
processandisjustasmuchanopportunityforyoutofindoutaboutus,our
cultureandmoreabouttheroleandresponsibilities.Trytorelaxandenjoythe
interview.
Youruniversitycareersofficecanprovideextrahelptoprepareyoufor

interviewsandwehavealsoincludedsomeexampleinterviewquestionsbelow
togetyoustarted.
Whatarethemostimportantthingstoyouinajob?
Givemeanexampleofasituationwhereyoumotivatedothers
Tellmeaboutatimewhenyouworkedaspartofateam.
Whatattractsyoutoacareerinthisindustry?
Whydidyouselectyouruniversity?
Whatcourseshaveyoulikedmost?Least?Why?
Whatareyoulearningthatwillhelpyouinyourworkwithus?
Tellmeaboutatimeyouhadtodeveloprelationshipswithothers.
Describeasituationinwhichitwasdifficulttoobtaininformationyouneeded,
andhowyoumanagedtobesuccessful.
Describeaninstanceinwhichyouhadasignificantimpactonasituation
RecommendedReadings(ASIAPACIFIC)
Thereareliterallyhundredsofsourcesofinformationaboutthefinancial
servicesindustryandMorganStanley.Yourschool'scareerservicesofficeor
resourcecentermaygatherthisinformationforyouandhelpyouselectother
sources.
Thefirstplacetobeginisourcorporatewebsite,morganstanley.com.From
researchreportstocompanynewstoglobaleconomicdata,thissiteisupdated
dailyandcanprovideyouwithin epthinformationabouttheFirm,our
productsandourindustry.
U.S.Publications
>Barron's
>Fortune
>Forbes
>InternationalFinancingReview
>InstitutionalInvestor
>InvestmentDealers'Digest
>Investor'sBusinessDaily
>RedHerring
>TheNewYorkTimes
>TheWallStreetJournal

>www.bloomberg.com
>www.TheStreet.com

EuropeanPublications
>TheFinancialTimes
>TheEconomist
>ProspectsDirectory
>GTICityandFinanceJournal
>GTITargetGroup
>GTICareersServiceGuides
>Career2000Magazine
>GTIITNOW
>www.citykid.co.uk
>OxbridgeGuidetoInvestmentBanking

AsiaPacificPublications
>AsianWallStreetJournalwww.awsj.com
>FinanceAsiawww.financeasia.com
>FarEastAsianEconomicReviewwww.feer.com/
>SouthChinaMorningPost,HKwww.scmp.com
>AustralianFinancialReviewwww.afr.com
>BusinessTimesSingaporebusinesstimes.asia1.com.sg/home/
>KoreaHeraldwww.koreaherald.co.kr/
>BangkokPostwww.bangkokpost.net/
>iDSFinancewww.idsfinance.com/
>Quamnetwww.quamnet.com/fcgibin/index.fpl
>Asiamoneywww.asiamoney.com/
>TheAssetOnlinewww.theassetonline.com/
>MorganStanleyChinaWebsitewww.morganstanleychina.com
FinancialTerms
Analyst:AnentrylevelpointforcollegegraduatesintoMorganStanleyin
EquityResearch,aseniormemberoftheresearchteam.
Assets:Thevariousresourcesthatanindividualororganizationowns.

Associate:AnentrypointforgraduatestudentsintotheFirmAssociates
generallymanageateamofAnalysts.
BlockTrade:Atradethatinvolvesalargequantityofstock(i.e.,10,000shares
ormore)orlargedollaramountofbonds(i.e.,$200,000ormore).
Bond:Aloanthatentailsapromisebyacorporate,municipalorgovernment
entity(theborrower,or"issuer")torepayaborrowedamount("principal")ona
specificdate("maturity")atanagreeduponinterestrate.
Commodities:Rawmaterialssuchaspreciousmetalsorgrains,contractsfor
whichareboughtandsoldoncommoditiesexchanges.
Controllers:Thedepartmentwithinafirmthatoverseesfinancialaccountsand
transactions.
DebtCapitalMarkets(DCMS):Responsibleforsoliciting,structuringand
executingMorganStanley'sinvestmentgradedebtandrelatedproduct
businesses,includingnewissuesofbothpublicandprivatedebt.
Derivatives:Optionsandfuturesonvarioussecuritiesorcommodities.
Equity:Themonetaryvalueoftheownershipofaninvestment.
EquityCapitalMarkets(ECMS):Undertakestheorigination,structuring,
marketingandpricingofpublicofferingsandprivateplacementsofequityand
equityrelatedsecurities.
EquityFinancingServices(EFS):EFSisanequityfacilitationbusinessproviding
sophisticatedglobalproductsandservicestoperformanceorientedmoney
managers.ThetwoprimarybusinesseswithinEFSarePrimeBrokerageand
SecuritiesLending.
EquityResearch:AnalystsinEquityResearchfocusonunderstandingthe
fundamentalsoftheeconomy,anindustryoranindividualbusinesstoassist
theFirm'sclientsinmakingsoundinvestmentdecisions.

FID:AbbreviationfortheFixedIncomeDivisionatMorganStanley.
Finance:TheFinancedivisionisaserviceorganizationresponsibleforthe
guardianshipoftheFirm'sfinancialwellbeing,andconsistsoffivedepartments:
Controllers,Treasury,Tax,RiskManagementandInvestorRelations.
FixedIncome:Bonds,billsandinterestbearingnotesthatpayaspecific
interestrateoverthelifeofaloan.
Future:Acontractthatobligatesitsholdertopurchaseorsellacommodityor
securityataspecificpriceonagivendate.
FX:AbbreviationforForeignExchange.
HedgeFund:Afundthatoffersaninvestorbalance,ora"hedge,"againstthe
risksofotherinvestments.
Hedging:Aninvestingstrategydesignedtobalance,or"hedge,"investment
risks.
HighYieldCapitalMarkets(HYCMS):AgroupwithinInvestmentBankingthat
workscloselywithCorporateFinanceanddedicatedhighyieldsales,trading
andresearchprofessionalsintheFixedIncomeDivisiontooriginate,structure
andexecutepublicandprivateplacementsofhighyielddebtsecuritiesfor
noninvestmentgradedomesticandemergingmarketcorporationsand
sovereignentities.
IBD:AbbreviationfortheInvestmentBankingDivisionatMorganStanley.
IED:AbbreviationfortheInstitutionalEquityDivisionatMorganStanley.
Index:Themathematicalvalueofanassetgrouping.Throughindices,the
performanceofvariousmarketsectorscanbemeasuredovertime.
IPO:AbbreviationforInitialPublicOffering,theinauguralissuanceofstockor
othersecuritiesbyacompanyforsaletothepublic.
Issue:Financialsecuritiesthataremadeavailableforsale.

MD:AbbreviationforManagingDirector,aseniormemberofMorganStanley
whooverseesateamofAnalystsandAssociates.
Mergers,AcquisitionsandRestructuringDepartment(MARD):TheM&A
departmentwithintheInvestmentBankingDivision.
MorganStanleyRealty(MSR):MSRprovidesabroadrangeofinvestment,
financingandadvisoryservicestodomesticandinternationalrealestate
companiesthroughthreedistinctgroups:TheRealEstateBankingGroup,the
RealEstateDebtCapitalMarketsGroup(REDCM)andtheMorganStanleyReal
EstateFund(MSREF).
MorganStanleyIM:MorganStanleyInvestmentManagement.
Option:Aninvestor'srighttopurchaseorsellasecurityorcommodityona
specificdateforapredeterminedprice.Ifthisrightisnotexercisedbythe
option'sexpirationdate,theinvestorforfeitstheinvestment.
PrivateEquity:Capitalprovidedtoinvestorsincompaniesthathave
demonstratedoperationalexcellence,soundlongtermstrategiesand
attractivegrowthpotential.
PrivateWealthManagement:Provideshighlycustomizedfinancialadviceand
investmentsolutionstoindividuals,familiesandfoundationswith$10millionor
moreininvestableassets.
Prospectus:Thelegalofferingdocumentforaninvestmentinsecurities,
indicatingdetailsofterms,feesandchanges.
ResearchAnalyst:AgraduatelevelentrypositiontotheEquityResearch
division.
Risk:Thealwayspresentchanceoflossesorothernegativeconsequencesasa
resultofaninvestment.
RoadShow:Amarketingtripdesignedtoexplainandanswerquestionsabouta
company'sbusinessobjectivesandstrategytopotentialinvestors,usuallyfor

thepurposeofsellingthoseinvestorsanequitystakeinthecompany.
Salesperson:Inthefinancialworld,apersonwhosejobistosellsecuritiesfor
brokers,dealersand/orcorporations.
SalesTrader:ActsastheliaisonbetweentheFirm'stradersandinstitutional
tradersfacilitatestheexecutionofthecustomer'sorders.
Securities:Typically,stocksandbonds.
Stock:Aninvestor'sownershipofaportion(denominatedin"shares")ofa
corporation.
Syndicate:Inthefinancialworld,agroupofinvestmentbankerswhopurchase
securitiesfromanissuerforresaletothepublic.
Tombstone:Aprintadvertisementinthefinancialpressthatannouncesa
securitiesoffering.
Trader:Aprofessionalwhopurchasesandsellssecuritiesforbrokers,dealers
andhis/herownaccounts.