Morgan Stanley and UBS Warburg win high marks from staff

Morgan Stanley ranked 27th and UBS Warburg crept in at 94th in terms of employee satisfaction in the workplace. Few other financal services firms of any kind made the list. Microsoft, the software company, came first in the ratings.

At Morgan Stanley, where 74% of employees earned over 30,000 a year and 61% were under the age of 35, there were high levels of satisfaction among the workforce, according to the research.

Despite declining profits and redundancies, 84% of staff said they felt proud to work for the firm. Three-quarters thought they could make a difference there and would miss it if they left.

Most of the largest group of professional staff, earning 30,000 a year or more, were entitled to a profit share. This was 10.7% of salary in 2001, the survey said.

Benefits included free health care including spouse and family, life insurance of four times salary and a flexible benefits scheme. New adoptive parents had 126 days of paid leave.

There were two gyms at the London offices and a FlexWork scheme let staff choose the hours they worked. Overtime benefits included free meals and transport home.

At UBS Warburg 60% of staff were under the age of 35 and 72% earned more than 30,000. Unlike at Morgan Stanley, there was no profit-related pay. But there was a generous non-contributory pension ranging from 7% to 27% of salary paid in by the firm.

Benefits included an on-site private medical centre, massages, store discounts and a 25% subsidised canteen.

Other financial services companies in The Sunday Times top 100 list included the financial adviser St James's Place in 31st place, the telephone/internet bank First Direct in 36th, and Standard Life Assurance in 39th.

More than 200 companies took part in the research, which was sponsored by the Department of Trade and Industry.