Morgan Stanley ranks third place in our competition thanks to the investment it makes in its staff. Employees credit the firm with an 83% positive score for pride and 82% for staff strongly recommending it as a place to work.

The US investment bank fosters a culture that encourages responsibility and high levels of job satisfaction. This starts with training, which is not prescriptive — employees are given a menu to choose from in order to meet their objectives. Personal development plans are then drawn up with managers and continuously reviewed.

Morgan Stanley may be an imposing institution but it doesn’t want staff to be in awe of their bosses. Employees are encouraged to challenge the status quo with new ideas, whether they have been at the firm for 20 years or two weeks. This leads to confidence and gives a sense of stability. More than a third of 6,155 staff in London and Glasgow have been on the payroll for five or more years. Staff feel they can develop and say their job is good for their own personal growth (81%) and that the experience they gain is valuable for their future (80%).

Quarterly presentations provide feedback on performance and enable people to ask questions. Informal lunches or breakfasts are hosted by two members of the European management committee to provide an opportunity for staff to get to know senior employees.

The job comes at a price, though. Staff are often exhausted, gaining only a 37% positive score for the firm on this question and they think they spend too much time at work (43% positive). But this doesn’t stop them having fun at work (77%) and feeling confident they can rely on colleagues to do a good job (80%). In fact, they think the organisation really tries to help them (79%) and most would not leave tomorrow even if they had another job to go to (76% and the second best score for this question). The firm’s Canary Wharf headquarters are near some of the poorest areas of east London and giving back is an important part of the culture. Staff think the firm is run on strong principles (78%).

Benefits include free private healthcare, sports facilities, a noncontributory pension and on-site medical facilities. After a year’s service, mums-to-be get 26 weeks leave on full pay and paternity leave is two weeks on full pay.

Last year the firm spent £200,000 on fun events from quiz nights to the chairman’s summer party and tenpin bowling.

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