>> The direct path is that it's the entry level position
as an analyst within credit risk management.
Some people have stayed on as an analyst,
[inaudible] analyst promoted to associate onto VP.
We have one senior level executive director who joined the firm 12 years ago,
one of the first recruits out of Penn State ever.
We have people in different stages in their career.
Others have chosen to move to different parts within the firm.
And this is a typical career path for somebody within credit risk management
that they would start in credit which has a very broad based view of Morgan Stanley.
We touch all areas of the firm where there's a risk component.
So that's lending, trading, and trading would include secured transactions,
derivative transactions, mortgage trading, lending through various other means,
that there is really no risk product within the firm where credit is not involved.
So you get a bird's eye view of what Morgan Stanley does.
And perhaps you find, as some people do, that there's other areas where you work
or other colleagues you work with we feel a connection, and you like the pace
of what they do or you like their angle on a transaction better.
People have moved to investment banking to capital markets.
They've moved to the trading side.
They've moved to other aspects of risk.