Morgan Stanley Internship 2026: Get Accurate Preparation, Ace the Online Tests & Secure Your Summer Internship
One of Morgan Stanley’s most efficient ways of screening candidates applying for the summer internship is via online testing.
I know how stressful it can be and how important it is for you to get your foot in the door of Morgan Stanley, one of the leading and desired financial firms in the world.
You are only starting your 2nd year in the university, and already so much pressure is put on you to jumpstart your finance career. And all the while you must keep up with your studies, which is hard enough.
This is why we worked hard at creating this preparation pack, to lift some weight off your shoulders. It has everything you need to prepare for the unique Morgan Stanley online tests.
It includes:
I am here for you every step of the way, don’t hesitate to contact me for anything.
Start practicing now to beat your competition and secure a summer internship.
Full preparation for the unique Morgan Stanley Summer Internship online tests:
Including:
An investment banking (IBD) summer internship (summer analyst) is like an 8-10 weeklong job interview.
Your best chance of getting a full-time offer at Morgan Stanley is to secure a Morgan Stanley internship.
Problem is, it is not that easy. The acceptance rate for a Morgan Stanley internship is less than 2%. With tens of thousands of applicants per year, you have to stand out to get in.
If you score lower than the benchmark on the online tests, your application will be automatically disqualified.
But don’t worry, we are here to make sure that doesn’t happen.
Note: There is a Morgan Stanley Sophomore internship and a junior internship. Both have the same application process, but the deadlines are completely different. For juniors the deadline is usually around July and for sophomores it is around September.
Looking For Other Finance Tests?
BCG | Aerotek | JP Morgan | Wells Fargo | Tresvista | BPO | Worldquant | Capitec | Bank of America | Credit Suisse | Deutsche Bank | Barclays | Bain | Schroders | PwC | Blackstone| McKinsey | Capital One | Bank Teller Sample Questions | Bank Teller Interview | Bank Assessment Tests | Accounting Questions | HireVue Interview Questions & Tips | Pre-Recorded Interview Preparation
Important note: Morgan Stanley ONLY uses online testing for the Investment Banking Division (IBD) summer internship. If you are applying for a different division, the application process relies mostly on interviews, and there are no online tests involved.
In 2019, Morgan Stanley started working with a test provider called Cut-e (AON).
They administer 4 online tests for the Morgan Stanley Investment Banking Summer Internship application process:
Note that in addition to these online tests, Morgan Stanley also uses an online pre-recorded interview platform called HireVue.
Usually you will be administered 3 out of the 4 test options mentioned above. From our experience, ALL applicants get the Numerical Reasoning Test and the Situational Judgment Test.
The 3rd test could be either the Switch Challenge or the Inductive Logical Reasoning Thinking (ix). In the invitation email you get from Morgan Stanley to complete the tests, or in the home screen of the online test platform, it will clearly state the tests you are going to take.
These tests are much more difficult than in past years, and the Morgan Stanley Switch Challenge and Inductive Logical Thinking test are two of the hardest and most confusing tests out there.
Note: Once you receive the invitation email you will have 48 hours to complete the tests.
Preparing yourself for the tests in 48 hours might be stressful, so you are advised to start your preparation prior to sending the initial application.
If you already got the email, no worries. Try clearing your schedule and dive into the preparation material.
The Switch Challenge is actually a specific and unique Logical Reasoning Test.
This is where most candidates fail, as the questions are both objectively hard, and nothing like you have ever seen before – which makes it that much harder.
In each question, there are 4 symbols that change position according to a specific rule. You need to choose the correct operator (out of three alternatives) to change the order of the symbols according to that rule.
Each operator consists of four digits. Each digit represents the previous position of each symbol before it was changed by the operator. The new order of the symbols’ position matches the position of the digits.
For example:
Which operator is needed?
The correct answer is (C).
In this question there are two rows of symbols and a missing operator. The operator changes the order of the symbols that appear in the upper row to a new order in the lower row.
The digits of the operator represent the symbol according to its position in the upper row before it was changed by the operator. In order to solve this question, you should look at the first symbol of the lower row.
Search the position of that symbol in the upper row. This position is the first digit of the operator.
In this example, a triangle is the first symbol on the lower row. Its position in the upper row is second, so the first digit is 2.
You can now mark answer 2341 because it's the only answer that starts with the digit 2.
In case you can’t rule out the other alternatives, you will continue by checking the second symbol in the lower row- a heart. Then check its position in the upper row.
Its position is third, so the second digit of the operator is 3. The third symbol is a star, its position in the upper row is fourth, so the next digit is 4.
The fourth symbol is a circle, its position in the upper row is first, so the next digit is 1.
The correct operator is 2341.
Tip: When you are presented with a 3-layer question, your best strategy is to first work top-bottom to find the first operator and then work bottom-top to find the 3rd operator.
Once you have both, you can find out which is the 2nd operator (the one in the middle), which is usually the answer you are looking for.
This strategy and many more are found in the full Switch Challenge study guide in our preparation pack.
Start practicing for the Morgan Stanley Switch Challenge and ace the test!
Each question in the test consists of a row of nine objects. All objects but one conform to the same rule, and your task is to select the object that does not fit this rule.
There are numerous sets of rules that might be applied and you have to identify the rule quickly, as you will have only 5 minutes for 20 questions. That is 15 seconds per question.
See if you can handle the time limit in the following example.
The correct answer is object #6.
The objects form a numerical series: When moving from one object to the next, the number of shapes decreases by 1 and then, from the 5th object onwards, increases by 1. The only object that does not fit this rule is object #6, which contains 3 shapes instead of 2.
Note: The varying types of shapes serve as a distraction; the only thing that matters is the number of shapes in each object.
Tip: If the rule is hard to discern, examine the objects carefully, focusing on one characteristic at a time. For instance, you can start by counting the number of shapes in each object while ignoring their colour.
If you do not find a rule concerning the number of shapes, you can examine their colour.
Solving strategies for every situation can be found in the preparation pack.
Start practicing for the Morgan Stanley Inductive Logical Thinking test and beat the time limit!
The numerical reasoning test assesses your ability to retrieve information and draw logical conclusions from numerical data presented in tables and charts. In this test, you will get 6 different documents with data, on which you will be asked 18 questions.
You will also get only 6 minutes to complete the segment.
Arclight's dividend per share in fiscal year 2 was 25% higher than in fiscal year 1.
The word "dividend" implies that the answer to this question is under the "Dividend" tab. The graph reveals the different dividends per share for three companies across a five-year period.
Look at Arclight's area (blue). Dividend per share was 2 Euros in FY 1, and 2.5 in FY 2. Indeed, 2.5 is 25% higher than 2:
(2.5/2)-1=0.25
Therefore, the statement is true.
Note: If you wish to avoid decimals, you can multiply the figures by multiples of 10 (simply by moving the decimal point to the right) until they are integers. In this case you need to multiply the figures by 10 (move the decimal point one place):
2.5*10=25
2*10=20
These numbers are easier to work with. The difference is 25-20=5, and we know that 5 is a quarter of 20 (20/5=4), and that a quarter is equivalent to 25%.
Tip: Before you even read the first question, look at the titles of the tabs (each tab contains one document filled with data) and very quickly scan through their contents.
Note the axis titles of the charts and the column titles of the tables. Do not spend too long doing this; it is only meant to provide you with a very basic knowledge of the information you have to sift through during the test.
All the strategies you need to solve all question types are found in our preparation pack.
Start practicing for the Morgan Stanley Numerical Reasoning Test and improve your score!
This test is designed to assess how well you can extract information from written data and come to the right conclusions.
You will have six sheets of written data to analyze; each is filled with a lot of information that you must quickly absorb and understand.
Your task is to figure out for each of the 18 statements you are presented if it is true, false, or you cannot say. Each statement is regarding only one sheet of data, which adds another trickiness – you have to figure out which sheet is the right one.
Test yourself with this sample question.
In the real test, you will have about 20 seconds per question.
IT investments: Multi-Credit has been making long-term investments in IT and web development to enhance the conversion from cash to electronic payments, thereby increasing processed transactions volume. This is expected to help further securing Multi-Credit’s future position in the market.
Divisions: All three divisions are expected to grow significantly in the next two years. The benchmark for the PB division is set at 25,000 additional businesses and bank partners by the end of that period.
Global expansion: As of the upcoming year, Multi-Credit will be providing sponsorship for major sporting events all over the world, hoping to create better exposure in countries where the company’s market share has been relatively small thus far. Following this, programmes allowing special discounts and access to special events will be launched where Multi-Credit will be best received.
Statement: The long-term investments in IT and web development to enhance conversion from cash to electronic payments has largely failed to increase processed transactions volume.
Explanation:
According to the text, "Multi-Credit has been making long-term investments in IT and web development to enhance the conversion from cash to electronic payments, thereby increasing processed transactions volume."
As processed transactions volume increased, we conclude that these investments are not failing as suggested in the statement.
The statement is, therefore, FALSE.
The verbal reasoning test is a wolf in sheep's clothing. Practicing is the best way to make sure the wolf will not eat you alive.
Start practicing accurately for ALL Morgan Stanley tests and improve your chances of passing to the next stage!
This test is designed to see how you will handle yourself in a real Morgan Stanley work environment. You will have 30 minutes, during which you will be presented with messages from different authorities in the firm.
For each message you will have to respond, choosing from a list of options. You will have to imagine you are in an actual job situation, as an analyst, and respond as you would have in real life.
You will have to figure out what to do in various situations like an error you made in a report, a client complaining or your boss asking you to do something that you don’t have time to do.
It might sound easy enough, but the responses presented are really similar and the answer is not obvious.
During your lunch break, Mark, your colleague, tells you that he was watching you work and knows a better way for you to file and organize documents.
How would you respond?
Explanation:
Primary competency: Communication skills
Secondary competencies: Adaptability; Social intelligence; Working under authority
Best response: C
This is an ideal response. On the one hand, you don’t dismiss Mark’s comments, whilst on the other, you are not going to initiate any change prior to consulting with your superiors. The ability to respond appropriately and sensitively to your colleague demonstrates effective communication and social intelligence. This response also demonstrates your adaptability by showing that you are open to change.
Explanation:
A. In this scenario, you are dealing with a form of criticism from a work colleague. The way you respond to criticism indicates something about your social and communication skills. Choosing this response shows a lack of these skills, as you are being dismissive of Mark's criticism. You are also showing a low level of adaptability by not being open to potential change.
B. You are responding to Mark’s criticism in a very defensive and suspicious way. Not being able to accept criticism in positive and constructive manner demonstrates a lack of social and communication skills. This response also indicates poor social intelligence as the comment made has the potential to create antagonism. Additionally, the content of the comment shows that you are neither adaptable nor open to potential changes.
D. It is difficult not to choose this response as it provides a rational argument for why not to accept Mark’s criticism. However, the fact that you are dismissive of his opinion may damage your ability to build rapport with him, thus showing poor social intelligence. In addition, you are not open to change in your work environment, thus indicating a lack of adaptability.
Tip: For each character in the test you will have a sort of I.D. with important information.
This information might change the way you respond to each individual, so it is wise to read it carefully and know who you are dealing with before responding.
More tips and strategies for this specific test can be found in our preparation pack.
Start practicing for the Morgan Stanley Situational Judgment Test now!
As you have seen already, the Morgan Stanley online tests are very unique and hard to get through.
You have only one chance to get it right!
Our foolproof 3-step method will make sure you improve and get a high score:
Start practicing for the Morgan Stanley internship now!
Morgan Stanley uses online tests only for the Investment Banking Division. If you apply for other divisions such as Fixed Income, Global Markets & Acquisitions, Quantitative Finance, etc, you will have only interviews.
Morgan Stanley is adapting to the COVID-19 crises by making everything they can virtual. The interviews in the application process are either HireVue (pre-recorded video interview), phone interview, or live video interviews. If the current situation will continue through the summer, the internship will be virtual as well, as they have done last summer.
As early as possible. Applications are usually looked at on a rolling basis, which means that once they have filled all the spots, they will stop looking at applications.
Of course, you do! Work hard, score high in the tests, and ace the interviews. They will not be able to ignore you, regardless of what university you come from.
You can, but your chances are much lower. A Morgan Stanley Summer Internship is the safest way to become a full-time analyst.
Yes, you can. Morgan Stanley offers an internship to juniors as well as sophomores. But pay attention, the deadlines are different, so you are advised to check the MS website for accurate information.
No, you don't. You have to take them only once, and your scores will be saved for further applications. So get it right the first time, you only have one chance!
