Asset Management
Morgan Stanley Executive Compensation (FY25)
MS · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025 ◇ Edward Pick | Latest say-on-pay support = May 14, 2026 | Chief executive pay ratio ◇ To the median employee |
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Data as of October 22, 2026Latest filing (8-K): May 15, 2026
7 filings cited on this page
Method: intel.velarion.ai/methodology
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Published by Velarion Company Intelligence
Velarion Member, one year
248 figures on this page: 245 cited to the filing that reported them, 3 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Edward Pick: $24,881,032 → $37,187,657 (49.5% higher)
CEO pay ratio: 180:1 → 273:1 (51.7% higher)
Frequently asked questions
Answers drawn from the data on this page.
Who is Morgan Stanley's chief executive and what were they paid?
Edward Pick, Chairman of the Board and Chief Executive Officer, received $37,187,657 in total compensation for fiscal 2025. Compared with the $24,881,032 reported for fiscal 2024, Pick's total was 49.5% higher.
What was Morgan Stanley's say-on-pay result?
The say-on-pay proposal drew 95.5% of votes cast including abstentions in favor at the meeting held May 14, 2026 for fiscal 2025.
Which companies are in Morgan Stanley's peer group?
Companies named in the disclosed peer group include Bank of America, Barclays, Citigroup, Deutsche Bank and Goldman Sachs, among others.
What is Morgan Stanley's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 273:1, against median employee compensation of $136,396.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
James Gorman Chairman and Chief Executive Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Edward Pick Co-President, Head of Institutional Securities Group, and Co-Head of Corporate Strategy | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Andrew Saperstein Co-President and Head of Wealth Management | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Daniel Simkowitz Head of Investment Management and Co-Head of Corporate Strategy | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Sharon Yeshaya Executive Vice President and Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Edward Pick Chairman of the Board and Chief Executive Officer | ◇ | ◇ | ◇ | — | — | ◇ | ◇ | ◇ |
Andrew Saperstein Co-President and Head of Wealth Management and Investment Management | ◇ | ◇ | ◇ | — | — | ◇ | ◇ | ◇ |
Daniel Simkowitz Co-President and Head of Institutional Securities | ◇ | ◇ | ◇ | — | — | ◇ | ◇ | ◇ |
James Gorman Chairman & CEO | ◇ | ◇ | ◇ | — | — | ◇ | ◇ | ◇ |
Sharon Yeshaya Executive Vice President and Chief Financial Officer | ◇ | ◇ | ◇ | — | — | ◇ | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
James Gorman Executive Chairman | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Edward Pick Chief Executive Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Andrew Saperstein Co-President and Head of Wealth and Investment Management | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Daniel Simkowitz Co-President and Head of Institutional Securities | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Sharon Yeshaya Executive Vice President and Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Edward Pick Chairman of the Board and Chief Executive Officer | ◇ | ◇ | ◇ | — | — | ◇ | ◇ | ◇ |
Andrew Saperstein Co-President and Head of Wealth Management and Investment Management | ◇ | ◇ | ◇ | — | — | ◇ | ◇ | ◇ |
Daniel Simkowitz Co-President and Head of Institutional Securities | ◇ | ◇ | ◇ | — | — | ◇ | ◇ | ◇ |
Eric Grossman Executive Vice President, Chief Legal Officer and Chief Administrative Officer | ◇ | ◇ | ◇ | — | — | ◇ | ◇ | ◇ |
Sharon Yeshaya Executive Vice President and Chief Financial Officer | ◇ | ◇ | ◇ | — | — | ◇ | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Andrew Saperstein | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Andrew Saperstein | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Daniel Simkowitz | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Daniel Simkowitz | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Edward Pick | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Edward Pick | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Eric Grossman | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Eric Grossman | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Sharon Yeshaya | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Sharon Yeshaya | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Andrew Saperstein | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| Sharon Yeshaya | PSU | ◇ | ◇ | — | — |
| Daniel Simkowitz | PSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Eric Grossman | PSU | ◇ | ◇ | — | — |
| Edward Pick | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Severance and change in control
The terms as written in the agreements.
Andrew Saperstein
Co-President and Head of Wealth Management and Investment Management · Terms as described in the company’s compensation discussion · citing a 2026 filing
| Severance cash amount | ◇ |
| Equity acceleration on change in control | ◇ |
| Excise tax treatment | ◇ |
| Non-solicit period | ◇ |
Daniel Simkowitz
Co-President and Head of Institutional Securities · Terms as described in the company’s compensation discussion · citing a 2026 filing
| Severance cash amount | ◇ |
| Equity acceleration on change in control | ◇ |
| Excise tax treatment | ◇ |
| Non-solicit period | ◇ |
Edward Pick
Chairman of the Board and Chief Executive Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
| Severance cash amount | ◇ |
| Equity acceleration on change in control | ◇ |
| Excise tax treatment | ◇ |
| Non-solicit period | ◇ |
Eric Grossman
Executive Vice President, Chief Legal Officer and Chief Administrative Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
| Severance cash amount | ◇ |
| Equity acceleration on change in control | ◇ |
| Excise tax treatment | ◇ |
| Non-solicit period | ◇ |
Sharon Yeshaya
Executive Vice President and Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
| Severance cash amount | ◇ |
| Equity acceleration on change in control | ◇ |
| Excise tax treatment | ◇ |
| Non-solicit period | ◇ |
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Megan Butler | ◇ | ◇ | — | — | — | ◇ | ◇ |
Thomas H. Glocer Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Robert H. Herz | ◇ | ◇ | — | — | — | — | ◇ |
Perry M. Traquina | ◇ | ◇ | — | — | — | — | ◇ |
Dennis M. Naly | ◇ | ◇ | — | — | — | — | ◇ |
Rayford Wilkins, Jr | ◇ | ◇ | — | — | — | — | ◇ |
Jami Miscik | ◇ | ◇ | — | — | — | — | ◇ |
Dennis M. Nally | ◇ | ◇ | — | — | — | — | ◇ |
Shelley B. Leibowitz | ◇ | ◇ | — | — | — | — | ◇ |
Mary L. Schapiro | ◇ | ◇ | — | — | — | — | ◇ |
Erika H. James | ◇ | ◇ | — | — | — | — | ◇ |
Douglas L. Peterson | ◇ | ◇ | — | — | — | — | ◇ |
Lynn J. Good | ◇ | ◇ | — | — | — | — | ◇ |
Yasushi Itagaki, Edward Pick, Hironori Kamezawa, Masato Miyachi and Stephen J. Luczo served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Lead independent director premium | ◇ |
| Audit committee chair | ◇ |
| Compensation committee chair | ◇ |
| Nominating and governance chair | ◇ |
Equity is delivered as Stock Units.
Stock ownership guideline: 5x annual cash retainer ($575,000)
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Bank of America BAC
- Barclays BCS
- Citigroup C
- Deutsche Bank DB
- Goldman Sachs GS
- JPMorgan JPM
- UBS Group UBS
- Wells Fargo WFC
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 14, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 15, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 23, 2024 | = | ◇ | ◇ | ◇ |
Chief executive pay ratio
As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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- Edward Pick (Chairman of the Board and Chief Executive Officer), FY2025 total compensation $37,187,657 (base salary $1,500,000) [exec_comp, SEC accession 0001140361-26-012975, filed 2026-04-02]What this page does not include
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Peer benchmarking
Where Morgan Stanley sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
248 figures on this page: 245 cited to the filing that reported them, 3 calculated from figures it prints.
245 cited to the filing
3 calculated from the filing
Documents cited
- 0000950103-26-007291Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001140361-26-0129752025 Grants of Plan-Based Awards · 2025 Grants of Plan-Based Awards (1) · 2025 Outstanding Equity Awards at Fiscal Year End · 2025 Summary Compensation Table · and 2 more sections
- 0000950103-25-006128Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001140361-25-0123022024 Summary Compensation Table
- 0000950103-24-007114Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001140361-24-0183022023 Summary Compensation Table
- 0001140361-23-0169302022 Summary Compensation Table
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Morgan Stanley executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/MS (accessed 2026).
Short form: data: Velarion
The Morgan Stanley brief, $1,500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
7 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Asset Management rankings
Peers Morgan Stanley discloses
The companies named in MS's own disclosed peer group.
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Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}