New guy - need some advice

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Mar 19, 2006 10:43 pm

hey guys - long time lurker...

I've been interviewing with a Morgan Stanley branch manager for the past few weeks - each time he makes it pretty clear that he wants to bring me on board but by the end of the conversation, says something like "we've met our hiring quota for the year and can't afford to bring on any new trainees"... or "I'd love to bring you on but I've already got two trainees who aren't producing..." however, he always emails or calls me back for other interviews or to see if I've come up with any new marketing ideas. I get the feeling that I'm just one sentence away from being offered a position but cant seem to say just the right thing... know what I mean?

More than once he's said "we're not stock brokers, we're problem solvers..." and I'm thinking about suggesting he fires the two non-producing trainees, pays me half for the first year, and saves the company a good deal of money... fwiw, my resume is good, I've got a prospecting list worth approx $12mil, and great references (one being a broker at the same firm). The friends/family/former clients that have already agreed to utilize my services should more than cover any base salary cut I offer... Besides this, is there anything else I can bring to the table?

btw, we're in a mid-sized city (approx 200k) theres a ML branch (wont return my calls), a couple of EJ's (not hiring at this time) and a handful of independents... plus this particular MS which dominates this city.


Mar 20, 2006 3:45 am

It sounds like he's closing you, instead of you closing him. 

Maybe he's testing you to see if you have the right stuff to turn Mr. Prospect into Mr. Client.

I don't believe EJ's not hiring.  EJ is always hiring.

Mar 20, 2006 6:19 am

Do not suggest that he fire the two non-producing rookies.  He is not using the phrase non-producing as a negative, instead it's a fact of his life at this point.

Managers really do have to pay attention to how many people they hire, how much they pay them, when any formal training classes will be conducted and so forth.

It is very possible that he would love to hire you, but simply can't at this point.  Obviously he's in the best seat in the house as far as knowing what's going on in his branch, who might be about to quit, whether those rookies are short timers and all the rest.

I'd go back to him with some variation of the idea that you have a lot to offer the firm and the branch but that you understand why the door is not open enough for your to walk through right now.

Approach him as a mentor of sorts, ask what you could do for a while that would develop skills that would make it even easier to hit the road running when the door does open.  Assume the close, assume you're going to get the job but that you'll have to be patient.

Toss out the line, "I know that things worth having often require waiting for the proper time and I'm prepared to wait, but I dont' want to waste the time.  I assume that if you were me you'd spend the time developing sales presentation skills, but what type of industry would work best?"

Then shut up.  If he really does like you he'll volunteer something.  Perhaps he'll tell you what he did early in his career, but he'll say something.

Listen to him and close the deal with a version of, "Thanks for the advice, I really appreciate it.  I am going to explore that.  I assume that if I knock on your door in a year or two having made my mark over there that you'll see in me the same success that you see in yourself and want me on your team."

Don't say if I come back in a few weeks, or even a few months.  Give him some breathing room--a year or two sounds like a long time but it's really not.  During that time try your best to run into him somehow.  If you happen to close a big sale be sure he knows about it and how you cannot thank him enough for having suggested that you check that industry out.

How in the world can he say no when you come back again some day--just don't make it too soon.

You said you have a friend who works there.  That buddy should be able to let you know if somebody quits or if there seems to be a parade of interviewees coming in and out.

Mar 20, 2006 12:50 pm

I say look elsewhere.  RJ is hiring, give them a call.

Mar 20, 2006 1:06 pm


I say look elsewhere.  RJ is hiring, give them a call


Do you work in the human resources department in St. Pete?  If not what gives you the right to make that statement?

Mar 20, 2006 4:34 pm


I say look elsewhere.  RJ is hiring, give them a call.


...there isnt one of those around here...

Mar 20, 2006 8:53 pm

EJ is always hiring.  Call one of the rep’s and ask for growth leaders number and call.

Mar 20, 2006 10:12 pm

I know its been beaten to death...

but, lets say I actually start at one of these firms... any suggestions as to obtaining qualified leads? I've already got the list of friends/family/former clients (I'm a realtor with a nice list of names) and am preparing to cold call my rear off... anything else I can do?


Mar 21, 2006 9:39 am

He may be waiting to see if you try to close on him.

A little closing pressure is appropriate at this point, but do NOT try a hard close.

There are several good suggestions above.  It’s probably best to try both.  Start to pursue other firms and then make sure that the MS manager knows that you’re looking at other options ONLY WHEN you are approaching an offer with another firm.