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2025 Investment Management Summer Analyst Program - Fixed Income High Yield (Boston)

Morgan Stanley
Boston, MA Full Time
POSTED ON 1/19/2025
AVAILABLE BEFORE 4/18/2025

Morgan Stanley Investment Management ("MSIM"), together with its investment advisory affiliates, has more than 3,200 investment professionals around the world and $1.4 trillion in assets under management or supervision as of September 30, 2023. Morgan Stanley Investment Management strives to provide strong long-term investment performance, outstanding service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations, and individuals worldwide.

Increase your chances of an interview by reading the following overview of this role before making an application.

General Description

The Investment Management Summer Analyst Program is a 10-week program consisting of one week of training and nine weeks working within a specific IM team. Across all IM teams, the curriculum is designed to equip Summer Analysts with the fundamental skills they need to be successful in IM. During the 10-week program, Summer Analysts experience the culture and atmosphere of Morgan Stanley by performing a role similar to a Full-Time Analyst.

The High Yield internship program is intended for talented individuals pursuing an undergraduate degree in a related field. Successful candidates have demonstrated interest in financial markets, economics and / or international affairs. Interns in the High Yield group will provide the department with research assistance by working with portfolio managers, analysts, and operations associates.

The High Yield department manages $21 billion. Members of the High Yield research team contribute to idea generation by conducting thorough fundamental research and relative value analysis. Research is organized by industry specialization with each Senior Analyst covering high-yield companies within two to four industries. When applicable, members of the High Yield Group work closely with analysts from MSIM's equity, leveraged loan, global income, and investment grade teams.

Primary Responsibilities

  • Support portfolio managers, high yield analysts and research associates in their daily work. At a high level, this includes :

i) analysis of industry fundamentals and outlooks, and

  • ii) conducting in-depth fundamental research on individual company business models, operating strategies and outlooks.
  • Participate in daily investment team meetings and company reviews called in response to primary issuance or a secondary market opportunity.
  • Build and maintain proprietary financial models from data contained in company filings (e.g., 10-Ks, 10-Qs) and other data sources (e.g., Bloomberg, S&P CapitalIQ, industry-specific information providers).
  • Create spreadsheets and macros that compile information from multiple spreadsheets and databases into unified reports.
  • Work on special projects within the High Yield Department (e.g., optimizing and screening investment opportunities; assessing portfolio risk exposure; compiling regulatory information).
  • Perform additional assignments as requested.
  • Job Requirements

  • Pursuing a Bachelor's degree with an expected graduation date between December 2025 and June 2026.
  • Strong academic record and extracurricular achievements.
  • Outstanding oral and written communication skills.
  • Strong Excel skills.
  • Experience modeling corporate financial statements (income statements, balance sheets, and cash flow statements), preferably from a credit perspective.
  • The ability to function reliably and independently with a high degree of accuracy and attention to detail.
  • Understanding of the corporate bond and equity markets.
  • Application Process and Deadline

    In order to be considered, candidates must apply with their resume through the Morgan Stanley website and complete their HireVue digital questionnaire. Resumes will be reviewed on a rolling basis until the role is filled or the application deadline, whichever comes first. Applications must be submitted by Friday, July 12, 2024 at 11 : 55 PM EST and HireVues completed by Sunday, July 14, 2024 at 11 : 55 PM EST in order to be considered.

    Expected base pay

    Expected base pay rate for the role will be $52.89 per hour at the commencement of employment. However, base pay is only part of the total compensation package, which, depending on the position, may also include discretionary bonuses and other Morgan Stanley sponsored benefit programs.

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    Salary : $53

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