Four lessons you can learn from Morgan Stanley’s 2016 associate class on Wall Street

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Contrary to popular perception, investment banks in the U.S. are still hiring MBAs into their associate programs. Morgan Stanley has just hired a pool of new associates in New York, this is what it takes to get hired as an MBA in investment banking now.

1. Morgan Stanley likes hiring military veterans

After serving in the U.S. Marine Corps, Chris Barton got his MBA at Cornell University’s Johnson Graduate School of Management, where his activities and societies included Peter Nolan Scholar, Association of Veterans, Investment Banking and Finance Club, Teaching Assistant – Investment Banking Immersion and Private Equity Intensive Practicum. He also took part in the ski club.

After serving in the U.S. Air Force, Ethan Ellison with an MBA with specializations in accounting, corporate finance and quantitative finance from NYU Stern, where he was a teaching fellow, member of the Stern Investment Management & Research Society, co-editor of NYU Stern's investment newsletter, eVALUATION, and portfolio manager of the Michael Price Student Investment Fund (MPSIF). He was an equity research summer associate at Morgan Stanley and got an offer to join the firm full time upon graduation.

2. Students at elite business schools based in New York may have a leg up

Doris Lo, who's just joined as an associate in IBD, got her MBA from NYU Stern, where she participated in the Graduate Finance Association, Stern Real Estate Club, Asian Business Society and student government. She also completed the CFA. She was a summer associate at Morgan Stanley before getting an offer for a full-time position after graduation.

Jimmy Jin, investment banking associate, got his MBA from Columbia Business School and earned his CFA designation. His experience included stints at Bain & Co., A.T. Kearney, Milestone Capital and CITIC Capital before doing the investment banking summer associate program. He was recently hired into Morgan Stanley’s M&A group.

Matt Cashia also got both his MBA (and law (J.D.) degree) from Columbia. He worked as a summer associate in the M&A division of the prestigious Cravath, Swaine & Moore law firm, then was a summer associate at Morgan Stanley before accepting a full-time associate position in the M&A department upon his graduation.

Darren Xu worked as an associate at PwC and Forum Partners before getting his MBA from Columbia, where he participated in the Greater China Society and the Public Speaking Association. He was a summer associate in Morgan Stanley’s investment banking division, then a spring associate at Fortress Investment Group before accepting a full-time associate role in Morgan Stanley’s IBD after he graduated.

3. Students from top business schools in the southern U.S. are welcome, too

After graduating with his Bachelor's degree, Maxx Karr worked as a credit analyst at Citi before entering graduate school. He graduated with an MBA from Duke University's Fuqua School of Business, where he participated in the Private Equity Club, Asset Management Club, Fuqua Hoops and Energy Club. He worked as a summer associate at Morgan Stanley and received an offer to join the bank as a full-time investment banking associate after he graduated from Fuqua.

4. Landing good internships matters

Avril Kuo got her Master's degree in financial engineering with a concentration in financial risk engineering in the School of Systems & Enterprises at the Stevens Institute of Technology, during which time she worked as a graduate assistant and interned at TD Ameritrade. Upon graduation, Morgan Stanley hired her as a business management analytics associate.

Claire Van Dyk got a B.S. in finance from Manhattan College, where she was a member of the varsity volleyball team, Finance Club and Student Athletes Advisory Committee. She was a fund services intern at Morgan Stanley before getting an associate job in the wealth management division.

Pat Lia got his Bachelor’s degree in corporate finance from the University of Massachusetts, Amherst, where he was a pitcher on the baseball team and interned at ICAP. Upon graduation, he joined Morgan Stanley Wealth Management as an associate.

Jessica Crowell-Graff got a B.S. in business/managerial economics at Rider University, where she was a member of the Business Honors Program, Baccalaureate Honors Program and Economics Club. She passed the Series 7 and 66 exams. She interned at Morgan Stanley before getting hired as a full-time associate.

Anthony Kim got a B.S. in finance from St. John's University’s Tobin College of Business, where he was a member of the National Society of Leadership and Success and interned at Morgan Stanley Wealth Management. After graduation, he was brought on board as an associate.

Photo credit: simonkr/GettyImages

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