Good pay makes Morgan Stanley a great place to work

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This financial contentment was one of the factors which put the investment bank in ninth place on the Sunday Times list of the best companies to work for in Britain.

Morgan Stanley was the only investment bank to appear on the list. Three law firms, three of the big five accountancy firms and two credit card issuers also made the grade.

One fund manager, Fidelity Investments, appeared at number 27, while pay and benefits consultants Watson Wyatt came in at 42.

Survey co-author Milton Moskovitz said the workaholic culture of investment banks acts against them as good employers and not many applications to take part were received from companies in the sector. In the US list, Goldman Sachs recently appeared in 15th place, while Merrill Lynch has made the grade in the past.

Kent-based Fidelity Investments, which employs 2,200 people in the UK, was singled out by employees for an environment of trust. Some 90% of employees answered 'yes' to the question, &quotManagement trusts people to do a good job without looking over their shoulders,&quot an exceptionally high score, according to Moskovitz.

Fidelity has a very entrepreneurial culture in which all employees can progress, said executive director of international HR Brian Reilly. &quotI started as a phone rep in 1982,&quot he said. Reilly also pointed to widespread share ownership, covering all permanent employees, and a &quotgrowth shares&quot scheme, whereby the value of shares is paid out to employees as Fidelity hits certain growth targets.

The Best Companies To Work For ranking has been running in the US for several years, but made its debut in the UK this year, and is based principally on employees' views of their workplace.

Companies that apply for ranking must send out questionnaires to 250 randomly selected employees. Individuals send their answers directly to the external organisers of the survey. Additional points are awarded for company culture and specific policies.