The Fixed Income Research Summer Analyst Program is a 10-week program consisting of one week of classroom training, followed by multiple rotations. Summer Analysts may rotate on various Fixed Income Research desks including Corporate Credit, Interest Rates, Emerging Markets, Foreign Exchange, Municipal Credit, and Securitized Credit. Summer Analysts receive on-the-job training, benefit from working alongside experienced professionals on meaningful projects, and build their skillsets in a dynamic and evolving environment. In addition, the program features a Senior Management Speaker Series, desk teach-ins, networking events, community service, performance reviews, and a robust mentorship program.
Training Program
Summer Analysts begin with a one-day orientation where they are introduced to the Firm's businesses and learn what it's like to be an employee at Morgan Stanley. Fixed Income Research Summer Analysts then attend both Research and Sales & Trading division-specific training where they learn core skills essential for success. The curriculum includes daily market updates, business-specific overviews, and basic product and technical training.
Role and Responsibilities
- Develop investment recommendations on Fixed Income Securities through the study of market fundamentals and technical research.
- Help develop models to identify short-term asset-class disconnects in real time.
- Work on longer-term asset allocation challenges (e.g., the optimal way to generate a 3% return over inflation).
- Assist with the day-to-day production of our research content.
- Be given a specific project during each rotation focusing on anything from developing and pitching a trade idea to creating new valuation and trading models. The project will be presented to the research team at the end of each rotation.
Qualifications and Skills
- You are pursuing an undergraduate degree with a graduation date of December 2025 or Spring 2026.
- Minimum 3.0 GPA.
- Basic knowledge of and a keen interest in finance and markets.
- Strong work ethic, collaborative, ability to multi-task.
- Adaptable, versatile, and analytical.
- Strong oral and written communication skills.
Expected base pay rate for the role will be $52.89 per hour at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.
Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.
It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.
Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).
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