Why Morgan Stanley’s Job-Hunt Ban Was Doomed To Fail

Morgan Stanley HQ

No matter how hard you try, it appears workers will do their best to avert imminent unemployment.

Morgan Stanley last week rescinded a short-lived policy that barred junior bankers from searching for jobs until their two-year contracts were more than half done, Bloomberg News reported. Predictably, it didn’t work.

'Telling employees that they can’t look for jobs while working for you is like telling them not to use the Internet', says Wanda Cumberlander, assistant dean of applied management degrees at Georgetown University’s School of Continuing Studies. 'These things are unrealistic'.

The block - intended to keep people focused on their jobs - had been in place for only about a year. But it was hard for Morgan Stanley to enforce. Many broke the rule and left the bank before the investment-banking analyst program, entry-level jobs typically filed by college graduates, was complete. Those who complied said it was unfair and complained that when their term was up, they were at a disadvantage to other applicants who got a head start in the recruiting season. Morgan Stanley declined to comment for this story.

Hit the link below to access the complete Bloomberg Businessweek article:

Why Morgan Stanley’s Job-Hunt Ban Was Doomed To Fail

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