Pros
Morgan Stanley has still maintained a solid reputation amidst the current market situation. There are opportunities for growth if you seek it. You will be pushed to excel unless you resist. Professionally there are people that you will find here that are invaluable to your career. Many people have worked for MS for a very long time. Even if they do a stint at another firm, they eventually return. Therefore, the level of home-grown institutional knowledge at the middle to upper management level is what makes MS stand out. Additionally, on a social level there are many chances to continue to grow your network outside of the office at the local pubs. Above all else the people here are what make it great coming to work everyday.
Cons
Lack of technology resources for the support units. Manual processes inhibit the firm from getting to the next level it needs to reach on the street. "Face time."