Morgan Stanley uses its benefits package to gain a competitive edge, and has responded to employee requests for more choice and family-friendly policies.
During the 13 years, Dawn Nicholson, managing director of HR for EMEA at Morgan Stanley, has worked in investment banking, she has seen a increase in the number of perks offered to staff. “When I joined Morgan Stanley, the classic three core benefits were standard risk benefits, pension and medical,” she says.
Since then, the investment bank has broadened its offering to include an on-site medical service, a near-site emergency childcare facility, childcare vouchers, a cycle-to-work scheme, a new pension plan (introduced last year in response to pensions simplification), subsidised gym membership, and several health and wellbeing initiatives.
Morgan Stanley is one of the growing minority of investment banks that doesn’t offer a flexible benefits plan. Instead, benefits are available on top of salary to all 6,500 UK staff. “Benefits have an important role to play. In this industry, it is important to have a competitive package and we are always looking to offer the best and most competitive benefits,” Nicholson explains.