Ever wondered what it's like to intern at a global financial giant like Morgan Stanley? Beyond the prestige and invaluable experience, one burning question often comes to mind for aspiring interns: How much do Morgan Stanley interns actually make? If you're pondering a career in finance, technology, or any other field at a top-tier firm, understanding the compensation landscape is a crucial first step.
This comprehensive guide will break down everything you need to know about Morgan Stanley intern salaries, including factors that influence pay, typical ranges for different roles and locations, and even the often-overlooked benefits that sweeten the deal. So, let's dive in and uncover the financial realities of a Morgan Stanley internship!
Step 1: Start with a Self-Assessment – Why Are You Curious About Morgan Stanley Intern Pay?
Before we get into the nitty-gritty of numbers, take a moment to reflect. Are you looking to understand if a Morgan Stanley internship offers a competitive salary compared to other firms? Are you trying to budget for living expenses in an expensive city like New York or London? Or are you simply curious about the earning potential at one of the world's leading financial institutions? Understanding your motivation will help you contextualize the information that follows.
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| How Much Does A Morgan Stanley Intern.make |
Step 2: Understanding the Key Factors Influencing Morgan Stanley Intern Pay
It's not a one-size-fits-all answer when it comes to intern compensation at Morgan Stanley. Several critical factors play a significant role in determining how much you'll earn.
2.1. Role and Division
The most significant differentiator in intern pay is often the division you're interning in. Certain areas, particularly client-facing and revenue-generating roles, tend to offer higher compensation.
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Investment Banking Summer Analyst: This is often the most sought-after and highest-paying internship at Morgan Stanley. Investment Banking interns are involved in mergers and acquisitions, capital raising, and other advisory services for corporate clients. Expect intense hours but also premium compensation.
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Sales & Trading Summer Analyst: Interns in Sales & Trading get exposure to various financial products and markets. Their compensation is also typically very competitive due to the fast-paced and high-stakes nature of the work.
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Software Engineer Intern: For tech-focused individuals, Morgan Stanley offers robust Software Engineer internships. While perhaps not as high as investment banking, these roles still command excellent hourly rates, especially in tech hubs.
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Wealth Management, Operations, Research, and Other Divisions: Internships in these areas also offer competitive pay, though it might be slightly lower than the core banking or trading roles. However, the experience and exposure are still incredibly valuable.
2.2. Location, Location, Location!
Just like real estate, where your internship is located has a massive impact on your pay. Major financial hubs often have higher costs of living, and salaries reflect that.
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New York City, NY: Unsurprisingly, New York City, being the global financial capital, offers some of the highest intern salaries at Morgan Stanley. This is where a significant portion of their investment banking and sales & trading operations are based.
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London, United Kingdom: Another major financial center, London also offers very competitive compensation for Morgan Stanley interns.
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Other US Cities (e.g., Alpharetta, GA, Atlanta, GA): While still strong, salaries in these locations might be slightly lower than in NYC, reflecting the lower cost of living.
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International Locations (e.g., Montreal, Hong Kong, India): Compensation varies significantly across international offices, often aligning with the local economic conditions and cost of living. For instance, an intern in Montreal might earn less than one in NYC, but their purchasing power could be similar.
2.3. Academic Level (Undergraduate vs. Graduate)
Your educational standing can also influence your compensation.
QuickTip: Short pauses improve understanding.
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Undergraduate Interns (Summer Analyst): These are typically students in their penultimate year of university.
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MBA Interns (Summer Associate): Students pursuing an MBA often command higher salaries as they are expected to take on more responsibility and are on a faster track to full-time roles.
2.4. Program Duration
Morgan Stanley's summer internships typically last around 10-12 weeks. The total compensation will, of course, be a direct function of this duration multiplied by the hourly or weekly pay. Off-cycle internships, which can be part-time or of varying lengths, will have different compensation structures.
Step 3: Breaking Down the Numbers: Typical Compensation Ranges
While exact figures can fluctuate based on the year and specific market conditions, here's a general idea of what Morgan Stanley interns can expect to make:
3.1. Hourly Rates
Morgan Stanley internships are generally paid hourly. This allows for clear calculation of earnings over the internship period.
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Software Engineer Intern (New York City): Reports indicate hourly rates around $52.89/hour for Summer 2025. This translates to a significant monthly income.
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Data Analyst Intern (Alpharetta, GA): For Summer 2024, a Data Analyst Intern in Alpharetta might earn around $43.27/hour.
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Other Roles: While specific hourly rates for Investment Banking or Sales & Trading interns aren't always explicitly stated as hourly on public forums, they are generally annualized for comparison, and we can infer a very high hourly equivalent.
3.2. Monthly and Annualized Compensation
To give a clearer picture, let's look at typical monthly and annualized figures for common internship roles:
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Investment Banking & Markets Intern (New York City): These roles are often annualized in the range of $110,000 to $120,000. For a 10-week program, this translates to a monthly earning of approximately $9,000 - $10,000. This is highly competitive within the finance industry.
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Software Engineer Intern (New York City): With an hourly rate of $52.89, a typical work month (assuming 40 hours/week) would yield around $9,168 per month.
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Data Analyst Intern (Alpharetta, GA): At $43.27/hour, this could be around $7,500 per month.
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Interns in other divisions (e.g., Wealth Management, Operations, Technology in other locations): These roles might see slightly lower figures, perhaps in the range of $6,000 to $8,000 per month, still very strong for an internship.
3.3. Additional Perks and Benefits – The Unsung Heroes of Compensation
It's not just about the base pay. Morgan Stanley offers a range of benefits that significantly enhance the overall value of an internship. These can include:
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Housing Stipends/Assistance: This is a major perk, especially in high-cost cities like NYC. Morgan Stanley often provides a housing stipend (e.g., $2,000/month or a lump sum) or assistance in securing housing for interns. This can save interns thousands of dollars.
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Relocation Assistance: For interns moving from out of town, relocation bonuses (e.g., $500 to $2,000) are common to help with travel and moving expenses.
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Transportation Stipends: Some programs may offer a stipend for daily commute expenses.
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Sign-on Bonuses: Occasionally, particularly for highly sought-after roles or talent, a small sign-on bonus may be offered.
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Professional Development: Access to internal training programs, workshops, and networking events. While not directly monetary, this is invaluable for career growth.
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Mentorship Programs: Pairing with experienced professionals provides guidance and support, which can be highly beneficial for a budding career.
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Networking Opportunities: Exclusive events and opportunities to connect with senior leaders and other professionals across the firm.
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Return Offer Consideration: For top-performing interns, the ultimate "benefit" is often a full-time return offer, which is a direct pathway to a rewarding career at Morgan Stanley.
Tip: Reread key phrases to strengthen memory.
Step 4: How to Research Current Compensation (and Prepare for Application)
Now that you have a good understanding of the factors and ranges, let's look at how you can find the most up-to-date information and prepare yourself.
4.1. Leverage Online Resources
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Levels.fyi: This website is an excellent resource for real-world salary data, including intern compensation, often broken down by role, location, and year.
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Glassdoor & Indeed: These platforms also compile salary information, often based on self-reported data from current and former employees.
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University Career Services: Your university's career services office often has data on salaries from previous internships, as well as connections to recruiters.
4.2. Network with Current and Former Interns
The best way to get accurate, real-time insights is to talk to people. Reach out to alumni or connections who have interned at Morgan Stanley. They can provide firsthand accounts of their compensation and overall experience.
4.3. Tailor Your Application
When applying, ensure your resume and cover letter highlight relevant skills and experiences for the specific role you're targeting. Demonstrate a strong understanding of Morgan Stanley's values and the division you're applying to. A strong application increases your chances of securing an interview, which is the first step to securing an offer.
Step 5: Beyond the Paycheck: The Long-Term Value of a Morgan Stanley Internship
While compensation is important, remember that a Morgan Stanley internship offers far more than just a paycheck.
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Unparalleled Learning Experience: You'll gain hands-on experience in a dynamic and complex industry.
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Robust Networking: The connections you make during your internship can be invaluable throughout your career.
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Brand Recognition: Having Morgan Stanley on your resume is a powerful credential that opens doors to future opportunities, regardless of whether you receive a full-time offer.
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Skill Development: You'll hone critical skills in financial analysis, problem-solving, communication, and teamwork.
In conclusion, Morgan Stanley internships are highly compensated, particularly for roles in Investment Banking and Sales & Trading, and especially in major financial hubs. The attractive hourly rates, combined with valuable benefits like housing and relocation stipends, make these internships financially rewarding experiences. However, the true value extends far beyond the monetary compensation, offering unparalleled learning, networking, and career launchpad opportunities.
10 Related FAQ Questions
QuickTip: Focus more on the ‘how’ than the ‘what’.
Here are 10 frequently asked questions about Morgan Stanley internships, starting with "How to," along with quick answers:
How to apply for a Morgan Stanley internship?
You can apply online through Morgan Stanley's official careers website, usually in the "Students & Graduates" section. Many roles open between April and June the year prior to the internship.
How to prepare for a Morgan Stanley internship interview?
Prepare for both behavioral questions (e.g., "Why Morgan Stanley?", "Tell me about a challenge") and technical questions relevant to the role (e.g., financial modeling for banking, coding for tech). Practice with mock interviews and research the firm extensively.
How to stand out in a Morgan Stanley internship application?
Tailor your resume and cover letter to each specific role, highlight relevant quantitative and analytical skills, demonstrate genuine interest in the financial industry, and leverage any networking connections for referrals.
How to get a return offer from a Morgan Stanley internship?
Perform exceptionally well on your projects, be proactive in learning, network effectively with colleagues and senior staff, demonstrate strong teamwork, and consistently seek feedback.
How to negotiate a Morgan Stanley intern salary?
While typical hourly rates for interns are often fixed, you might have some room to negotiate if you have competing offers, especially regarding housing or relocation stipends. However, proceed with caution as offers can sometimes be rescinded if negotiation is handled poorly.
Tip: Pause whenever something stands out.
How to find out specific Morgan Stanley intern salaries for my desired role and location?
Utilize websites like Levels.fyi and Glassdoor, and network with individuals who have interned in similar roles at Morgan Stanley. University career services can also be a valuable resource.
How to budget for living expenses during a Morgan Stanley internship in NYC?
Factor in high costs for rent (even with a stipend, you'll likely contribute), food, transportation, and social activities. Create a detailed budget before you arrive.
How to network effectively as a Morgan Stanley intern?
Attend firm-wide events, set up informational interviews with professionals in different divisions, ask thoughtful questions, and maintain professional relationships.
How to choose between different Morgan Stanley internship offers?
Consider the type of work that interests you most, the long-term career prospects in that division, the company culture, and the location. While compensation is important, it shouldn't be the only factor.
How to make the most of a Morgan Stanley internship?
Be eager to learn, take initiative, ask intelligent questions, seek feedback, build strong relationships with your team and other interns, and fully immerse yourself in the firm's culture.
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