Multiple rounds of recruitment, I am listing them in the order: 1. CV shortlisting via job portal / internal references 2. Telephone Screening round (generally one, can be multiple) 3. Face to face rounds (generally multiple ranging from 3 to 8) 4. Global Management round (Morgan Stanley is a Global company, so global opinion is valued for any new position being recruited) 5. HR round (this is more a salary negotiation round) Note - Morgan Stanley is extremely strict with their background verification, so make sure you provide authentic information while applying.