Trailblazer PACESETTER Late Bloomer
Company Narrative
Morgan Stanley, an investment banking company, has been ranked as a PACESETTER on the Women’s Power and Influence Index.
With its Institute for Inclusion, Morgan Stanley works to support and advance its female employees. Even though Morgan Stanley did not publish its pay parity figures, it has a clear equitable pay policy supported by an annual compensation review process.
As of 2022, women make up 40% of Morgan Stanley’s workforce, while 26% of its leadership positions are held by women.
Sufficient information on Morgan Stanley’s subsidized childcare policies and pay parity could not be found.
Workforce Profile
Equitable Pay
✓ Does the company demonstrate a clear and transparent commitment to equal pay?
“Attracting, retaining and advancing diverse talent is a priority for Morgan Stanley. Our policies and practices, including those on pay, reflect and promote that commitment. Our compensation programs are competitive within our industry and help ensure equitable rewards for all employees through:
• Robust practices that support fair and consistent compensation, and help ensure reward decisions are based on merit
• Ongoing review of compensation decisions, including at the points of hire, promotion and mobility
• Regular assessment of our rewards structure to help ensure equity for all employees”
Ref: Morgan Stanley DEI report, pg 11
✓ Does the company perform an annual analysis of gender pay equity and pay disparities?
“Year-end evaluations assess each employee’s performance, conduct and contributions, and reflect feedback from managers, direct reports and peers. This feedback is critical to performance, pay and promotion….We regularly review representation, hiring, promotion, attrition, compensation and other key data, and leverage that data to identify gaps, shape our strategy and goals, and evaluate progress toward those goals.”
Ref: Morgan Stanley DEI report,pg 10
“To ensure fairness in pay, we employ a number of practices. Employee compensation decisions are regularly reviewed and adjustments are made when warranted.”
Ref: Morgan Stanley DEI report, pg 11
✓ Do female employees earn at least 95% of what their male counterparts earn?
Information regarding this criterion was unavailable or incomplete.
Career Growth
✓ Does the company demonstrate a commitment to actively attracting, retaining, and/or promoting women within the organization?
“Workforce: In 2021, the Firm set representation objectives to increase women officers by 25% globally, and Black and Hispanic officers by 50%. In 2022, we continued to make progress towards those objectives.”
Ref: 2022 ESG Report pg 24
“A diverse workforce is critical to our continued success and ability to serve our clients. We strive to attract and retain underrepresented talent at all levels and in all roles, and employ D&I strategies to help our colleagues thrive…At Morgan Stanley we have committed to improving representation among underrepresented groups in our workforce. To do this, in 2021 we set Representation Objectives. As a result of our efforts, in 2022 we achieved meaningful improvements in representation at the new hire and various officer levels.”
Ref:2022 ESG Report, pg 26
✓ Does the company provide professional development programs designed specifically for female employees?
“The Institute for Inclusion Talent Accelerator Women’s Leadership Program for Executive Directors and Vice Presidents is designed to help women officers grow their careers at the Firm through targeted skill development, career guidance, one-on-one coaching and opportunities to engage with and learn from senior leaders.”
Ref: 2022 ESG Report, pg 31
“The Women’s Leadership Program for Executive Directors and Vice Presidents in North America represents a significant investment in the development and advancement of women at Morgan Stanley. The program is designed to further career growth for women officers through targeted skill development, guidance on career management, one-on-one coaching, and opportunities to meet with senior leaders and network with peers. ”
Ref: DEI Report, pg 19
✓ Does the company provide professional development programs designed specifically for diverse employees?
“The Institute for Inclusion’s Talent Accelerator’s Multicultural Leadership Program supports career advancement for underrepresented vice presidents and executive directors. Program elements include self-assessments, skill-building workshops, career guidance, one-on-one and small group coaching, opportunities to meet senior leaders, peer networking, and manager-specific programming to help support underrepresented employees.”
Ref: 2022 ESG Report, pg 30
✓ Does the company offer a formal mentoring program to support the career advancement of all female employees?
“INVESTMENT MANAGEMENT
Women’s Mentoring Circles: Focusing on the development of women vice presidents, senior associates, associates and analysts within our Investment Management business, Women’s Mentoring Circles provide the support and space needed to discuss topics relevant and important to women in the financial services industry. This six-month program covers topics including Authentic and Inclusive Leadership, Career Advancement, and Personal Branding, with each circle consisting of five mentees and two mentors at the executive director level.”
Ref: 2022 ESG Report, pg 35
✓ Does the company offer a formal mentoring program to support the career advancement of diverse employees?
“INVESTMENT MANAGEMENT
Women’s Mentoring Circles: Focusing on the development of women vice presidents, senior associates, associates and analysts within our Investment Management business, Women’s Mentoring Circles provide the support and space needed to discuss topics relevant and important to women in the financial services industry. This six-month program covers topics including Authentic and Inclusive Leadership, Career Advancement, and Personal Branding, with each circle consisting of five mentees and two mentors at the executive director level.”
Ref: 2022 ESG Report, pg 35
✘ Does the company have policies and programs in place to actively recruit female candidates?
Information regarding this criterion was unavailable or incomplete.
✓ Does the company have policies and programs in place to actively recruit diverse candidates?
“Throughout 2022, we continued to deliver against our strategy to support, develop and advance our workforce, contribute to meaningful change in society, and invest in a more equitable and accessible marketplace:
• Workforce: In 2021, the Firm set representation objectives to increase women officers by 25% globally, and Black and Hispanic officers by 50%. In 2022, we continued to make progress towards those objectives”
Ref: 2022 ESG Report, pg 24
Work-Life Balance
✓ Does the company demonstrate a commitment to providing support and/or time off for women with children?
“We also support employees and their families through flexible work, family leave, child and elder care resources, and family-building support, including assisting with the cost of fertility, adoption and surrogacy services.”
Ref: 2022 ESG Report, pg 16
✓ Does the company provide child care support for employees?
“Family matters at Morgan Stanley. Whether you’re welcoming a new addition, watching your children grow or caring for aging parents, there’s support:
-Dependent day care flexible spending accounts to help defray the cost of preschool, before- or after-school programs, child care and summer camp
Subsidized backup care for children and adults, plus discounts on and help finding child care, preschools, tutors, learning pod instructors, enrichment programming and summer camps and parental coaching, including a family support concierge for individual guidance.”
Ref: Perks & Benefits, pg 2
✘ Does the company offer subsidized child care?
Information regarding this criterion was unavailable or incomplete.
✓Does the company offer paid maternity leave for birthing parents?
“To best help our employees support their families, the Firm introduced up to four weeks of paid family caregiver leave for employees to care for a family member with a serious health condition, and expanded parental leave to a minimum of 16 weeks globally—in addition to up to six to eight weeks for any approved medical leave for employees who give birth.”
Ref: 2022 ESG Report, pg 16
✓Does the company provide paid parental leave that extends beyond birthing parents to include surrogacy, adoption, and paternity leave?
“To best help our employees support their families, the Firm introduced up to four weeks of paid family caregiver leave for employees to care for a family member with a serious health condition, and expanded parental leave to a minimum of 16 weeks globally—in addition to up to six to eight weeks for any approved medical leave for employees who give birth.”
Ref: 2022 ESG Report, pg 16
✓ Does the company demonstrate a commitment to supporting the health benefits of its female employees?
“We also support employees and their families through flexible work, family leave, child and elder care resources, and family-building support, including assisting with the cost of fertility, adoption and surrogacy services.”
Ref: 2022 ESG Report, pg 16
“A $75,000 maximum family building benefit to assist employees with the cost of adoption, surrogacy and fertility treatments—including IVF and egg- and sperm-freezing and 12 months of storage.”
Ref: Perks & Benefits, pg 2
✓ Does the company offer women-specific health benefits for female employees?
“We also support employees and their families through flexible work, family leave, child and elder care resources, and family-building support, including assisting with the cost of fertility, adoption and surrogacy services.”
Ref: 2022 ESG Report, pg 16
“A $75,000 maximum family building benefit to assist employees with the cost of adoption, surrogacy and fertility treatments—including IVF and egg- and sperm-freezing and 12 months of storage.”
Ref: Perks & Benefits, pg 2
Workplace Standards
✓ Does the company have a policy listing prohibited behaviors, such as harassment and retaliation?
“Morgan Stanley is committed to providing a work environment that promotes diversity and inclusion, and where everyone feels a sense of belonging and is treated with dignity and respect. Our policies promote equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender or transgender, gender identity or expression, sexual orientation, national origin, citizenship, disability, marital and civil partnership or union status, pregnancy, veteran or military service status, genetic information or any other characteristic protected by law. Misconduct, including discrimination, harassment, retaliation or other forms of unprofessional behavior, will not be tolerated. For more information, refer to the Nondiscrimination/Anti-Harassment Policy that applies to your region. These policies include mandatory procedures for reporting discrimination or harassment.”
Ref: 2023 Code of Ethics and Business Conduct, pg 3
✓ Does the company mandate all employees to undergo harassment and discrimination training?
“Our Code of Conduct and Code of Ethics and Business describe our ethical business practices, guiding the day-to-day behavior of our employees worldwide. We require every employee to certify his or her adherence to, and understanding of, the Code of Conduct when they join the Firm, and on an annual basis thereafter.”
Pg: 2022 ESG Report, pg 102
✓ Does the company have a defined harassment policy that includes promptly addressing reported incidents?
“Directors, officers and employees are expected to cooperate in internal investigations of allegations of violations of the Code of Ethics, the Code of Conduct and other policies and procedures. Violations may subject you to discipline including the cancellation of previously awarded deferred compensation and/or, if applicable, the termination of your employment.”
Ref: 2023 Code of Business Conduct pg 1
Stakeholder Engagement
✓ Does the company demonstrate a commitment to helping external stakeholders address gender equality issues?
“The Morgan Stanley Inclusive Ventures Group (MSIVG) works to address the significant market inefficiency limiting access to capital for women and ethnically diverse startup founders. Previously named the Multicultural Client Strategy Group, MSIVG’s innovative approach to bridging investment gaps focuses on changing investor attitudes and behaviors, accelerating growth and investing directly in early-stage, technology enabled companies founded by underserved entrepreneurs. Launched in 2016, MSIVG’s mission is to deliver strong returns and long-term value by creating a more equitable investment landscape.”
Ref: 2022 ESG Report,pg 94
✓ Does the company offer and support initiatives that promote gender equality in the community?
“The Morgan Stanley Affirmative Summer Internship Program supports women and ethnically diverse students in Brazil. The five-week program, launched in 2019, allows students to gain training in soft and hard skills, and offers students the opportunity to meet with leaders and expand their network.”
Ref: 2022 ESG Report,pg 29
✓ Does the company demonstrate a commitment to helping internal stakeholders/employees address gender equality issues?
“To achieve greater gender equity, we offer a range of targeted programs to help women at our Firm thrive. In addition to supporting advancement for ethnically diverse colleagues, the Institute for Inclusion’s new Talent Accelerator also focused its efforts on creating programs to support the advancement of women at Morgan Stanley.”
Red: DEI Report, pg 19
✓ Does the company offer equity-focused trainings, speaker programs, or events for employees?
“It is the firm’s policy to maintain zero tolerance for all discriminatory practices, including harassment. Morgan Stanley provides diversity training throughout various divisions within the organization. The training uses interactive techniques to facilitate constructive dialogue about issues such as diversity, cross cultural awareness and workplace harassment.”
Ref: Career Development, pg 3 (North America)