Morgan Stanley's hottest tech team spends 2 days in the office
Morgan Stanley is making a major push into Exchange Traded Funds (ETFs) in 2023. In February, it launched its ETF platform, MSIM, starting with six ETFs from Calvert Research and Management, which it acquired in 2021 when Morgan Stanley bought Eaton Vance. That acquisition included Parametric, which is also set to release an ETF on the platform, but has a very interesting difference in culture to the bank at large.
Parametric is recruiting for a number of positions, including multiple senior software engineers in languages such as Python and Java, with listings as recent as last Friday. On many of these, it mentions “Parametric's hybrid working model. This involves working in the office two to three days a week,” and lets you choose where you work for the rest.
These roles can pay handsomely, too. VP engineers in New York and Seattle can earn a salary of up to $225k. Although MS Parametric is only recruiting senior engineers at present, it wants people who can mentor “new or less senior developers,” indicating its plans to hire fresh talent sooner or later.
Parametric has a slightly higher rating than its parent on Glassdoor, 4.1 stars compared to 4, but it's far from perfect. While, naturally, many reviews praise the “excellent work-life balance and team culture,” some mention the “archaic” legacy systems as a downside. Employees are torn on the workload, however, some praise the low-stress environment while others say there’s “not enough work.”
The hybrid model is at odds with CEO James Gorman’s infamous "careerland" comments when he was very outspoken against remote work. Of course, Gorman is on his way out the door and his successor is as-yet undecided. Until the next CEO is named, we can likely expect the Parametric team to continue operating with its unique model.
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