Morgan Stanley's Global Capital Markets (GCM) division responds with market judgments and ingenuity to clients' needs for capital. Whether executing an IPO, a debt offering or a leveraged buyout, GCM integrates our expertise in Sales and Trading and in Investment Banking to offer clients seamless advice and sophisticated solutions. GCM Strats work with bankers, traders, and other Strat groups across the firm and help differentiate Morgan Stanley's investment banking franchise by using a combination of financial engineering, mathematical modeling, data science and computer science to analyze markets, products and capital market transactions.
Our New York City office is looking for a GCM Strat Summer Analyst to combine financial engineering, mathematical modeling, and computer science to conduct rapid quantitative analysis on capital markets transactions, whether pitches or live execution (for example, debt and equity issuance, M&A, restructuring) and optimizing complex hedging strategies for internal and external clients.
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WE OFFER
- A 10-week in-person program that takes place at Morgan Stanley's headquarters in New York
- Placement in GCM Strats Group
- Summer programming that includes, and is not limited to, regular sessions hosted by Firm representatives on accounting, industry and product-specific training, introduction to Morgan Stanley proprietary analytical tools and an overall introduction to the Firm
- Mentors to aid in your development and provide greater exposure to GCM
- A flat structure experience that will provide you with a high level of responsibility early in your career
YOU WILL
Responsibilities may include and are not limited to:
- Create and maintain data driven analytics and financial models used to advise clients in achieving their financing needs.
- Work with sector coverage, derivatives coverage and syndication teams for high yield bond, leverage loan, investment grade bond, equity (IPO, follow-ons, convertible bonds) issuances to provide differentiated analysis to clients and help source new clients.
- Develop and maintain critical business reporting solutions for the desks' and division's senior management.
- Develop and back test hedging strategies.
- Develop and maintain valuation and risk models. Work extensively with the desks, cross divisional risk departments (such as Credit Risk, Model Risk, Valuation Control, Model Management), and cross divisional Tech departments (such as Fixed Income Tech and Investment Banking Tech).
QUALIFICATIONS
- You are a graduate student in Financial Engineering, Mathematics, Applied Mathematics, Physics, Statistics, Quantitative Finance, Computer Science, Electrical Engineering, Economics or related quantitative discipline
- You are completing your degree in December 2025 or Spring 2026
- You have a keen interest in financial markets
- Excellent quantitative skills and programming ability in a major language
- Outstanding verbal and written communication skills
- Ability to work with a strong sense of urgency while maintaining attention to detail
- You have the drive and desire to work in a team-oriented environment
- Working knowledge of Q/KDB, Python, Java or Scala and desire to learn new techniques
Expected base pay rates for the role will be $72.12 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).
Job Level
Summer Associate
Program
Summer Associate