Don't screw up!
About two dozen of the University of Miami’s brightest students sat in a meeting room at Morgan Stanley’s Manhattan headquarters last week, nodding and scribbling in leather binders as managers told them how to break into the firm’s wealth management division. As executives and associates spoke, the talk came to rest on a sobering theme: Don’t screw up.
Bloomberg News reports that the students, all of whom had an interest in pursuing a finance career, responded with laughter to less hard-edged tips - don’t write 'LOL' in your e-mails, don’t arrive at an interview not knowing who the chief executive is, don’t post drunk pictures on social media—but when a managing director warned against cheating in a post-financial-crisis world, the room was silent.
'There are a lot of people who could have been up here with us talking today, but they made bad decisions, and they’re out of the game,' said Adam Carlin, managing director of wealth management at Morgan Stanley and a University of Miami School of Business alumnus who sponsored the trip along with Richard Bermont, senior vice president of wealth management. 'Really think about the decisions you make,' Carlin said, 'and what they say about you.'
Carlin’s comments echoed what many Wall Street executives have been trying to say since the financial crisis—they’re committed to stamping out corruption. Fraud, complaints about nonexistent work-life balance, and accounts of greed have smeared Wall Street’s image.
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