Every year, Morgan Stanley – one of the world’s leading financial services companies – recruits over 1,500 interns from nearly 40 countries and a pool of tens of thousands of candidates. But, according to one of their former recruiters, “The students who go the extra mile always attract more attention.”
The financial services giant, which reported $48.2 billion in annual earnings in the fiscal year, 2020, is, no wonder, selective about its interns and employees. But the process doesn’t necessarily have to be intimidating when your foundation and groundwork are solid. We help you achieve that in the following 3 ways:
1. Sharpen Your Social Skills
Before we highlight what can differentiate your application in order to get an interview call, remember that you might have an opportunity to make an impression even before you apply. You can find out about the various networking events that Morgan Stanley may hold at your campus through their Campus Application Center.
While being around hard-core professionals at this stage might seem daunting, remember, that this is your chance to stand out. Developing and practising your social skills can significantly help you in this area. How do you approach someone you don’t know? What is your body language? Are you maintaining eye contact? Are you sharing your ambitions and asking them about their experiences? You’ll be in a better position to ace and feel comfortable at networking events once you have practised effective communication.
2. Ensure the Basics are Extraordinary
The only surefire way to get an interview call is to apply. And to do it extremely well. For this reason, you should allow yourself a couple of weeks to get the online application in place even if you only need a resume and cover letter. Both these elements must be impactful.
We have detailed the process to create the perfect resume in this article. In your cover letter, tell the recruiter why you are interested in joining Morgan Stanley and your chosen business area.
The company itself shares the following tips on crafting a powerful cover letter:
- “Write it like a letter—include your address, Dear Sir/Madam (or better still, the name of the person, if you know who the interviewer is), and make sure to end it with a closing (“Yours faithfully,” etc).”
- The first paragraph should outrightly mention why you’re writing the letter. Mention the position you are applying for and if you learned about it through a recruiting event.
- The middle 2-3 paragraphs should explain why Morgan Stanley—your reason for choosing the division, what about the company interests you, and why you might be a good fit.
- Close the cover letter by thanking the recruiter and stating that you are looking forward to a positive response.
- Needless to say, proofread the letter like it’s the most important document you will ever write and don’t use one-size-fits-all prototypes for all positions.
- Don’t hesitate to include experiences or skills that make you unique.
3. Actively Reach Out and Display Resourcefulness
Often as young individuals, we may hesitate to reach out to those who are more accomplished than us. But the only thing stopping us is our mental block. As an aspiring investment banker, your biggest resource is your university’s career services department as well as LinkedIn. Networking at university events is one part of the process but what else can you do to show that you have gone the extra mile?
Think about, what have I got to lose? If you reach out politely to a current or former Morgan Stanley employee, the worst that could happen is that you never hear back. But the best possible scenario, even if one person gets back to you, is that you can gain access to real-time information and experiences. Morgan Stanley recruiters highly value this skill of resourcefulness.
A leading Morgan Stanley recruiter says, “I like to see that students have reached out to their college or university alumni who now work at Morgan Stanley. It shows they’re resourceful, have initiative, and are self-starters. You can also ask alumni questions you might feel uncomfortable asking a recruiter.”
Conclusion
A foot in the door at Morgan Stanley is a dream for many would-be investment bankers but a reality for a selected few. The difference isn’t necessarily your credentials or background but how well you can express your strengths and convince the recruiter that you are driven like none other. Exceptional communication skills, a stellar and honest resume and cover letter, and self-motivation or resourcefulness can help you navigate that gap to reach the next stage of getting hired at Morgan Stanley.
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