Morgan Stanley

Here we are:

• Smart people
• Good infrastructure (compared to some other top banks)
• Year on year improvements in the culture. It moves further from classical financial player image (at least in IT). Work-life balance improves
• Competitive pay

MS, being one of the largest financial institutions, comes with obvious downsides.

• You might get unlucky with your team. I haven't worked in or with such, but I've heard a couple of bad stories.
• There are a number of formal processes that you do need to follow. It is impossible to be productive and follow them 100%, though.
• Cross-team/department communication and collaboration can be complicated and politicized, making large projects a chore.
• There is a strange situation with quality assurance in some areas of IT.