Morgan Stanley

The IT division is a patchwork of teams with different work habits, culture, and technology.

One can usually expect a good work environment, modern(ish) technology, challenging problems, and plenty of learning opportunities, especially if one joins the right team. Make sure to learn about the specific team you are about to join.

A great place for fresh graduates to learn technology, boost your resume, and master the English language.

Work in some teams can be stressful; others might use obsolete or firm-specific technology with no convertible market value.

Promotions are decided by committees with members from your wider department. Therefore, advancement is more dependent on visibility and social connections than actual achievements, potential, or expertise.

Think twice before accepting an offer of a contractor role. While treated equally to employees in usual workplace matters, contractors are not entitled to bonuses, find it more difficult or less likely to get a raise, and cannot get promoted.

Conversion of contractors to full-time employees does happen, but there are no guarantees and chances differ from team to team.

If you are a mid-career professional, make sure to join at the compensation and organization level you really want to be. Getting ahead within the organization will be much more difficult.

Do you want to be promoted to a VP or ED from within? Think about embarking on the campaign trail for president.

An interesting pattern, however: some contractors might get converted directly into a VP role if they happen to be the last senior member of a team hit by turnover. This hurts morale.

To reduce turnover, work on providing steady career advancement for mid-career professionals. Do not employ contractors in long-term positions.