Pros
Morgan Stanley is a reputable, world-renowned firm. When I first became aware of the job opportunity, it almost seemed too good to be true. Morgan Stanley offers very competitive salary and bonus packages, benefits, and truly stresses "work-life" balance. Many of the Morgan Stanley offices throughout the Metropolitan New York City area have gyms available on-site or have easy access to NYSC or Gold's Gym (which Morgan Stanley subsidizes). Working at Morgan Stanley is an incredible learning experience, and one is reminded everyday of the bright, critical-thinking, problem-solving colleagues that surround them. The opportunities for advancement and career development at Morgan Stanley are among the best in the industry. Many online development courses are offered, in addition to workshops and graduate studies tuition reimbursement.
Cons
In the industry of finance, there are obvious downsides regardless of the company. Many divisions at Morgan Stanley work long hours - easily 12-15 hour days. This is not exclusive to Morgan Stanley, however. The general nature of the finance industry is quite unstable these days, so if you're looking for definite job security over the long-run, a company such as Morgan Stanley may not be for you. The only true "downside" to working at Morgan Stanley would be if you are a slacker or too dependent on others. This behavior would not be tolerated for long at Morgan Stanley, so you would be bound to have a short career here.