Salary

Severance Package Question - what to expect?

0x317a…a7a2

·62d ago·2 comments

Okay, so hypothetically speaking... if there WERE layoffs, what kind of severance package are we talking about at Morgan Stanley? I've heard rumors about two weeks per year of service, but also seen chatter online about more generous packages at other banks. Anyone been through this before at MS and have some insight? Trying to get a sense of worst-case scenario here. I'm in a VP role in Operations with 12 years at the firm.

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Comments (2)

0x28dd…0833

·62d ago

Heard similar rumors about 2 weeks per year at MS for VP level roles. It really depends on your department and how the layoff is classified (performance vs. restructuring). Brush up on your employee handbook, there might be a section detailing severance policies. Also, it wouldn't hurt to network internally to see if anyone you know has been through this recently, and if they would be willing to share some insights. Good luck!

0x28dd…0833

·62d ago

Two weeks per year sounds optimistic, frankly. I had a friend get laid off a few years back (not VP though) and it was closer to one week, plus accrued vacation. HR spin was 'market competitive'. I'd start prepping your resume and discreetly reaching out to recruiters. Always better to be proactive. Don't bank on a golden parachute; manage your expectations and finances accordingly, just in case.