[mbiondi]

Morgan Stanley pays their bonuses at the end of the year. Very few will quit in August. Only the ones who were on their way out anyway. Most will work hard to find jobs between now and December when they receive their "bonus".

[mancerayder]

Probably true - but just adding the bonuses aren't known until mid January and not paid out til end of Jan or Feb.

It's precarious if people make it too obvious they are searching when there is bonus-decision-time being done. Someone might hear a tip and not pay you anything if they know you might leave.