The tough-love advice Morgan Stanley CIO Mike Wilson gives to his new hires to prepare for their career in banking

Getty Images; Jenny Chang-Rodriguez/BI

• Wall Street newcomers are often highly successful.
• But Morgan Stanley's Mike Wilson says a key to success is learning to accept failures.
• Always being ready to up your game as you get promoted is also crucial, he said.

If you're just getting started in your career on Wall Street, Morgan Stanley chief investment officer Mike Wilson has some tough love to share with you: life's only going to get harder.

In an interview with Business Insider in December...