If you're looking for a Morgan Stanley intern, you mightiness effort a 20-something successful On sneakers eating a burrito bowl.
Morgan Stanley's equity investigation squad surveyed much than 500 of the firm's North American summertime interns connected everything from their preferred java marque to wherever they activity out. The annual survey, conducted successful June and published successful early August, helps the investigation squad way trends.
Most of the respondents were 21 aliases younger astatine the clip of the survey, and the report's authors said they correspond "a cohort that is much driven, ambitious, and engaged pinch the world than ever before."
Here are the regular habits and preferences that specify immoderate of the adjacent procreation of Wall Street leaders.
Sneakers
Nike remained interns' apical sneaker choice, but it continued to suffer power among interns — 28% of this year's respondents said it's their go-to shoe, compared to 36% past twelvemonth and 58% successful 2021. The marque is trying to stage a comeback aft losing crushed to competitors, yet its banal continues to autumn and was down astir 36% since the opening of the year, arsenic of marketplace adjacent connected Friday.
On, a Swiss brand, roseate to 2nd spot astatine 13%, up from 8% past year, and Hoka came successful third.
Apparel
Zara is still interns' favored apparel marque (22%), pinch Uniqlo adjacent down (21%) successful its first twelvemonth successful the survey. Lululemon took the third-place spot, but fell from 22% past twelvemonth to 19% this twelvemonth arsenic the brand continues to struggle to triumph backmost American consumers.
Ralph Lauren made "notable upward strides" and was the preferred prime for 18% of interns. After a slowdown, luxury brands are staging strategical turnarounds, arsenic younger consumers usage them to telegraph position and identity, according to McKinsey. Compared to older customers, much Gen Zers and millennials said exclusivity was down their accrued luxury spend.
Handbags
Luxury brands were besides connected the emergence erstwhile it comes to handbags, reclaiming the apical spot among female interns (20%) aft sliding past twelvemonth (15%). Among the luxury choices, Chanel and Dior came retired connected top.
Coach and Longchamp secured 2nd and 3rd place, respectively. Some 34% of respondents said they didn't person a penchant for a peculiar handbag, compared to 38% past year.
Exercise
More than half of the interns said they for illustration moving retired astatine an indoor gym, and 24% said they'd alternatively workout outside. True to shape arsenic the health-obsessed generation, only 3% of interns said they didn't person a preferred shape of exercise.
Wall Street firms person capitalized connected the wellness boom, pinch galore boasting in-office gyms. Outside the office, high-end gyms for illustration Life Time and Equinox are themselves status symbols and networking hubs, albeit sweaty ones.
Food and drinks
Guacamole is, it seems, forever.
Chipotle was by acold interns' favourite edifice concatenation (57%), followed by Chick-fil-A and Cava, astatine 43% and 32% respectively. Independent java shops narrowly beat retired Starbucks arsenic interns' beverage spot of choice, astatine 49% compared to 46%.
Cars
Mercedes remained the interns' favourite car brand, while Tesla stayed debased connected the list. More than 40% of the respondents said they'd opt for a hybrid vehicle, and only 16% said they'd spell for thing wholly electric.
When it comes to being driven, 31% of interns said Uber is their favored robotaxi, and 29% said they prefer Waymo, up from 23% past year.
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Alice Tecotzky is simply a newsman connected the Finance desk, based successful New York City. She writes astir JPMorgan and what it's for illustration to activity connected Wall Street. Have a tip? Email her astatine [email protected], scope her connected Signal astatine alicetecotzky.05, aliases travel her connected X @atecotzky.Alice graduated from Columbia University successful May 2024 pinch a grade successful English. Before she joined Business Insider, she covered breaking news astatine the Daily Beast and acquisition astatine the Atlanta Journal-Constitution.
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