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J P Morgan
08-08-2005, 04:02 PM
Post: #1
J P Morgan

Does anyone know anything about this company? Mr B has an interview with them tomorrow. It's not the ideal job that he would want but it's something! :w00t: I know they are an American Investment company and it's not great news as recently in Scotland there have been so many American companies that have shut up shop and paid people off. So as much as a job in Scotland would be great, we don't want to be jumping from frying pan to fire.

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08-08-2005, 05:02 PM (This post was last modified: 08-08-2005 05:07 PM by karenh.)
Post: #2
J P Morgan
Well, Morgan Stanley are a pretty big investment bank, so I've heard of them obviously, but I haven't worked for them personally. I have worked for other large American corporations though.

Speaking in general terms, I'd guess that Morgan Stanley are much like all other large American Corporations - potentially there are lots of benefits to working for them: good salary, good bonus depending on the job, private healthcare etc. and kudos. Having Morgan Stanley on your C.V would pretty much guarantee you an interview elsewhere if you wanted it!

But on the downside, they do expect you to put in the hours and assume a hardcore work ethic. If your husband works for Morgan Stanley, I would imagine that he will have contracted hours (e.g. 9:30-5:30), but that it would be frowned on by the company if he actually worked to those hours. For some reason, it is important in these companies to be seen to be in the office for 10.5-12 hours per day. No-one actually works those hours of course, because no-one can work a regaular 12 hour day and be productive, but you have to pretend because that is the game and it affects your salary review and your bonus if you don't play it! Its a bit stupid I know, but thats the way it works.

So, my guess is that if Mr Bella starts working for Morgan Stanley, you will see less of him during the working week, but he will be very well paid for the sacrifice and gain the benefit of a having a blue chip company on his C.V. (which is sometimes worth more than gold).

Grouch might be able to help more.

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08-08-2005, 05:17 PM
Post: #3
J P Morgan
Thanks for the insight Karen. The extra hours would be a bit of a blow as he does have to travel to Glasgow everyday, so the travelling time added to the extra hours would mean we would hardly see him. Last month he was on a project which meant he was home at around 7.30/8pm but at least we knew that it was going to come to an end. Plus he got paid overtime for it.

There is no guarntee he will get the job and it will mean a slight pay-cut but as you say will mean being able to put a blue chip company on his CV.

I have pretty much said that the final decision with what he wants to do lies with him. If he feels that he would like to stay here and take on a different role or if he would want to move to Southampton, then I am with him whatever he decides.

btw - He did pass his Certificate of Financial Planning, so that gives him a bit more to add to his CV!

Thanks again, Karen
x

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08-08-2005, 06:41 PM
Post: #4
J P Morgan
One of my best friend's husbands works as a vice president of a department for this company. In fact, they have just transferred to Colombus, Ohio with his job. He used to get home about 6.30pm in the evening from London, and could work from home quite a lot also. They also had bundles of money. Apparently the bonuses are pretty excellent also. Smile But that's about all I know I'm afraid.

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08-08-2005, 06:44 PM
Post: #5
J P Morgan
tigger767 Wrote:One of my best friend's husbands works as a vice president of a department for this company. In fact, they have just transferred to Colombus, Ohio with his job. He used to get home about 6.30pm in the evening from London, and could work from home quite a lot also. They also had bundles of money. Apparently the bonuses are pretty excellent also. Smile But that's about all I know I'm afraid.

Guess I was wrong then....... :w00t:

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08-08-2005, 06:45 PM
Post: #6
J P Morgan
Mr B has just said that the place where he is going is J P Morgan Chase, a sort of subsidary to the Morgan Stanley Group, I think! he is being interviewing for implenting programs and such like, so not really the investment side. One of the girls who used to work where he is, has a job there at the moment and hates it!! :ohmy:

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08-08-2005, 06:52 PM
Post: #7
J P Morgan
Oh gosh Bella - its a hard one really. I think Mr Bella just has to got for his gut feeling.

Mrogan Chase Stanley are still Blue Chip. Big time! I think he just has to work out what is the best available option for him.

There is nothing wrong with going to the interview. He could clear up a lot of concerns at that point.

I have to say he could do much, much, worse than work Morgan Chase Stanley and he would stay in Scotland. He could always ask at the interview about contracted vs expected hours as it is a big bugbear for lots of people and they would expect the question. Be warned though: if their work ethic is long hours, and you ask about it at interview, it could (and does) sound warning bells with the interviewers if you ask about it....

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08-08-2005, 07:00 PM
Post: #8
J P Morgan
karenh Wrote:Guess I was wrong then....... :w00t:


Not necessarily Karen, guess it would be what department you worked in, and also the position you held. He just happens to be the boss. Smile

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08-08-2005, 08:03 PM
Post: #9
J P Morgan
Just to clear things up guys.

JP Morgan is the merged entity of Chase Manhattan Bank, Chemical Bank, JP Morgan and Robert Fleming.

It's a financial behemoth, second in the US only to Citigroup.

Morgan Stanley is one of the biggest investment banks in the world, but not a commercial bank like JPM.

The two groups are not linked in any way.

They split following the Wall Street crash of 1929 due the Glass Steigal act.


I think you'll probably find them to be as fair as most other large employers and the US banks do tend to be good on benefits and ahead of the curve on workers rights etc, due the fact that they regularly get there arsés sued in America.

They tend to pay better than British companies, although they do tend to expect you to absorb their "culture" to a certain extent.

My advice would be to go for it.

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10-08-2005, 08:54 AM
Post: #10
J P Morgan
Well, Mr B had his interview. He way over qualified for the job, but they do encourage training for other positions and departments. The job itself is really crap and he knows for a fact he would hate it, but if he gets it (will know by the end of the week) at least it is a foot-hold in with a good company and there could be opportunities to move within there. There are 500 employees, so quite a large number, although he is bit miffed at them not having a staff canteen!

He also spoke to a girl from Personnel who he not impressed with he had asked questions about pension and various other things that she did not know about! The initial pension scheme and bonuses do appear quite good and as I said if he was offered it, he will have to give it some thought.

I'll keep you posted!

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