Company Battle: Morgan Stanley vs Credit Suisse
MBA graduates on the prowl for post-graduate employment opportunities would do well to investigate international banking giants Morgan Stanley and Credit Suisse, both of which offer many attractive perks to employees.
New York City’s Morgan Stanley primarily handles the investments and assets of governments, corporations, and institutions. Zurich, Switzerland-based Credit Suisse is highly regarded for its bank-client confidentiality and overall discretion with regard to client information.
Morgan Stanley vs Credit Suisse: Salaries
The most common entry-level position for MBA graduates is as an associate. Luckily, associates are compensated handsomely at both companies.
Morgan Stanley offers an average salary of $108,659 according to Glassdoor data, with the possibility of an additional $21,732 in bonuses, on average.
Credit Suisse remains competitive with Morgan Stanley at an average annual salary of $111,572 and an average overall pay of approximately $112,000. However, there is the potential for healthier bonuses at Credit Suisse, with a ludicrous average bonus pay of $67,980. Still, reviews from current and former Credit Suisse employees on Glassdoor seem to suggest that bonuses are actually few and far between. Whereas reviews from Morgan Stanley employees suggest that they are more generous.
Morgan Stanley vs Credit Suisse: Company Culture
Credit Suisse and Morgan Stanley actively fosters inclusion in the workplace, with a number of key diversity initiatives. In addition, both banks have implemented innovative strategies to demonstrate corporate responsibility and philanthropy.
Credit Suisse offers several employee networks designed to foster collaboration, including networks for family, women, veterans, LGBT professionals, and POC professionals. Additionally, Credit Suisse offers the Real Returns™ Program, which offers senior bankers the chance to return from an extended career break.
Morgan Stanley also encourages their employees to volunteer regularly, as exemplified by its Global Volunteer Month, the most recent iteration saw 48,000 employees in 36 countries volunteer over 262,000 hours of their time.
Morgan Stanley’s Vice Chairman Tom Nides and Chief Human Resources Officer Jeff Brodsky, shown with over 300 volunteers during the company’s 2018 Global Volunteer Month.
Credit Suisse is known for its collaborative working environment and flexible working hours. Morgan Stanley, on the other hand, promotes a supportive workplace culture, but work occurs at a much faster pace and over longer hours. Some might find the fast-and-furious approach preferable, as it offers more learning opportunities, but it can be difficult to maintain a healthy work-life balance.
Both banks rank highly by various publications on workplace cultures, but Morgan Stanley seems to consistently come out on top. According to Vault, Credit Suisse ranks at 19th as the best place to work, whereas Morgan Stanley comes in 4th. eFinancialCareers also ranks Morgan Stanley as the 4th most ideal employer, citing its competitive bonuses and salaries, as well as its progressive initiatives on issues like workplace diversity and corporate social responsibility. Despite their attractive salaries, positive office environment, and accommodating working hours, Credit Suisse comes in slightly behind at 10th. Finally, Glass Door ranked Morgan Stanley at 100 overall in its 2019 list of ‘Best Places to Work.’
Morgan Stanley vs Credit Suisse: Hiring Rates and Versatility
Morgan Stanley features over 57,000 employees, spread out over 41 countries. There are opportunities to work in North America, Europe, the Middle East, Africa, Japan, and Asia Pacific.
Credit Suisse features 46,840 employees working across 50 different countries. However, a number of positions are only available in Switzerland. In spite of these figures, Credit Suisse claims that there are still many opportunities for mobility, both internally (with respect to opportunities to work across departments as well as potential promotions) and geographically. In 2017, 4,100 employees made an internal move and 47 percent of vacancies were filled internally.
Top 5 European MBA Programs for ROI
There’s no denying that European business schools are commanding a growing share of MBA students. According to the latest trends, as MBA applications have dropped in the U.S., they’ve increased. Last year, 61 percent of European business schools reported an increase in application volume.
There are many reasons for this increase, from the changes in U.S. immigration policies to the desire for a more globally focused education. However, one of the most appealing aspects of European business schools has to be cost. American business schools typically require a hefty investment in tuition as well as two years of foregone salary. In Europe, it is far less.
Many schools in Europe receive government funding, allowing it to offer lower tuition. For example, an MBA at IMD in Switzerland costs just CHF 60,000 for its One Year MBA. This low tuition cost and short program length also translates into a powerful return on investment (ROI). Continue reading…
Are Business Schools Equipped to Handle Climate Change?
The United Nations’ panel on climate change issued an alarming warning earlier this month. In order to avoid worsening events such as increasingly deadly storms and heat, the extinction of coral, and ever rising sea levels, member nations must act fast. Global leaders of business must pay particular attention to this warning, as the world economy will need to transform in order to support the vital decrease of carbon emissions.
Top MBA Recruiters: Credit Suisse
After all the hard work that MBA students put into earning their degree, the task of searching and applying for the perfect job can be daunting. Thankfully, the advanced skills of MBAs are high in demand: many companies are looking for graduates just as much as graduates are looking for them.
A top company for recruiting graduates, Credit Suisse has consistently placed high in surveys of top MBA employers. A 2014 list from CNN Money ranked it 44th out of 100 top MBA employers, and a 2015 Bloomberg survey of the top ten companies for paying MBAs the most found Credit Suisse in sixth place.
About Credit Suisse
Credit Suisse has been in operation since 1856, when it was founded in Zurich, Switzerland. Today, Credit Suisse is a leading global private bank and wealth manager with operations in more than 50 countries. More than 48,200 people from 150 different nations are employed by the company worldwide.
Credit Suisse serves its clients through three divisions which focus on specific regions: Swiss Universal Bank, International Wealth Management and Asia Pacific. The regional divisions are in turn supported by two specialized areas in investment banking: Global Markets and Investment Banking in Capital Markets.
Why MBAs Love Credit Suisse
Recruiters at Credit Suisse make MBA hiring and development a priority in the company, hosting campus events at universities across the world. The company offers a number of programs in almost every business area for graduates. Through the Analyst and Associate Internship program, MBA students will contribute to one of the world’s leading financial companies by combining training with real-world professional experience. The company also offers an MBA Fellowship for first year MBAs, which includes a summer internship at a Credit Suisse U.S. office and a $15,000 stipend for the first year of business school.
Life at Credit Suisse
Graduate students typically gain full-time positions at Credit Suisse through intern class conversions, but a number of positions also become available for new applicants every fall. Below are just a sampling of the position available for MBAs:
- Finance—an inside look in a leading bank, the finance analyst will expand their experience in accounting, insurance, investor relations and group control.
- Human Resources, Communications and Branding—a role in supporting the company’s major business divisions through recruitment and retention of top talent, while maintaining open communication with employees and other stakeholders.
- Technology—IT experts will work in an environment centered on innovation and technical excellence.
- Global Markets Chief Operating Officer & Chief Financial Officer—this positions works out of the Credit Suisse New York office with specialists who aim to improve the companies operations. This is a two-year rotational program for analysts to learn about modeling, market data and financial control- skills that are applicable throughout several industries.
Landing a Job at Credit Suisse
Even though Credit Suisse tops the lists among MBA employers, landing a job with the company can still be competitive. In 2015, Credit Suisse hired just five MBAs—still making it the 9th largest employer of MBAs that year.
Credit Suisse typically hires full-time employees through their internship program, so obtaining an internship can be a crucial first step to obtaining employment with the company. According to the website, Credit Suisse searches for:
- Leaders who can inspire loyalty and mobilize others.
- Critical thinkers with the ability to solve problems.
- Self-starters.
- The ability to work as a team and adapt easily to build strong relationships.
- Effective communicators who can both listen and articulate their ideas.
- A commitment to high ethical standards.
London’s Largest MBA Employers
For MBAs looking to begin a career in London, there is an array of amazing opportunities. Not only are there a number of top companies hiring large numbers of MBAs, but those with advanced degrees tend to earn more and witness more growth than those without. In fact, a recent analysis of MBA graduates from the London Business School reveal that 93 percent of students had received and accepted a job offer within three months of graduation. The average salary for such graduates was $117,596.
London is home to a number of international companies and remains a bustling center of global business. Here are just a few of the top London companies currently hiring MBAs.
McKinsey and Company is a global management firm which works alongside some of the top public and private sector organizations in the U.K. to address their most pressing needs in technology, strategy and operations. Partnered with several leading companies in London and around the world, McKinsey aims to set long-term goals surrounding challenges of the economy, as well as contribute to dialogue about current trends in business and society.
McKinsey & Company’s has more than 90 global offices, including London, where it has operated for over 50 years. McKinsey was the top employer of London Business School MBAs last year, with a staggering 38 new hires among graduating students.
The Boston Consulting Group is a massive consulting group now with more than 80 locations in 48 countries. A leading advisor for business strategy around the globe, the BCG remains a top employer of MBAs in London. The company also provides students opportunities to get involved before graduating. Each fall, BCG recruits undergraduate, graduate and Ph.D. students as associates to help solve some of the toughest client challenges.
Founded in 1856 out of Zurich, Switzerland, Credit Suisse is one of the leading global private banks, employing more than 48,200 people in 150 different countries. Focusing on three different business areas—Swiss Universal Bank, Asia Pacific and International Wealth Management—Credit Suisse is constantly looking for ways to make inroads into new markets and support and elevate its employees.
Credit Suisse offers analyst and associate programs in all major areas outside of Switzerland, which are available to MBA and MA students. The company also offers a 8-10 week summer internship program just for current MBAs.
Bain & Company is a leading management consulting firm, which works with business leaders across the U.K. to help make companies more valuable. Established in 1979, Bain London is the oldest office and the first outside of the United States.
The Bain London offices are home to more than 456 employees and—in 2006—Bain was recognized by the Financial Times as the #1 “Best Place to Work”. Bain actively recruits MBA students from top programs around the world, and is open to applications for consultant positions from students in the second year of their program or nearing the end of a one year degree.
Established in 1926, today A.T. Kearney is a leading global management firm with offices in more than 40 countries worldwide. Partner-owned, A.T. Kearney works with two-thirds of the Fortune Global 500, and some of the top non-profit and governmental organizations around the world.
A.T. Kearney is a top employer of business students in London and provides a multitude of opportunities for MBAs to get involved even before they join the career force. Each year, the company offers a the Global Prize Annual Strategy Case Competition, which invites post-graduate students to take on real-world consulting challenges.
Cable Executive Shares Leadership Insights for CEO Lecture Series at Rutgers Business School
At a recent Rutgers Business School CEO Lecture series event, Eric Tveter, chief executive of UPC Cablecom, and Rutgers MBA ’97, offered the crowd of students his unique take on leadership.
When, in 2009, the 55-year-old executive was tapped to turn around the fortunes of UPC Cablecom, a Swiss cable company, Tveter said that the five C’s of management – communication, culture, commitment, collaboration and customer – guided his efforts to bring the company back on track.
“Commitment is doing what you say you’re going to do,” he said. “We set realistic goals. We under promised and over delivered.” For Tveter, an American taking the helm of a troubled company in Switzerland where the public has a natural tendency to be skeptical, commitment proved to be particularly vital. “You’re not known by the commitments you make,” he added. “You’re known by the commitments you keep.” Continue reading…
