Department Profile

The Fixed Income Division is comprised of Interest Rate and Currency Products, Credit Products and Distribution. Professionals in the Division assess and actively manage risk, trade securities, and structure as well as execute innovative transactions in the fast-paced and constantly changing global markets. Morgan Stanley aligns its municipal investment banking, underwriting, sales, trading, lending, and M&A advisory in one integrated organizational group under the umbrella of the Municipal Securities Division.

Background on the Team

Within Municipal Securities, the Public Finance Investment Banking group raises capital to fund projects for public sector entities and not-for-profit institutions in the United States. The group plans financial strategies and structures tax-exempt and taxable offerings along with derivative solutions to meet the needs of wide variety of important public organizations.

Primary Responsibilities

As an Associate or Vice President in Public Finance Investment Banking, you may:
• Provide investment banking services to the largest and most notable debt issuers nationwide
• Prepare and execute live transactions, including crafting rating agency, investor roadshow, and sales memorandum materials
• Prepare marketing materials, from product pitches based on market dynamics to extensive responses and proposal requests
• Perform cash flow analyses to evaluate debt financing alternatives
• Create and update credit models and conduct peer credit analysis
• Monitor and analyze client financials including debt portfolios - identifying opportunities including potential refinancings or restructurings
• Conduct debt capacity and affordability analysis
• Research and analyze market data to share insights with clients
• Field and respond to client inquiries, including travel for client meetings and conferences
• Undergraduate degree
• Experience in public finance banking, financial advisory, or related fields
• Advanced knowledge of MS Excel (preferred), DBC (preferred) and familiarity with other common software including Word and PowerPoint
• Business development acumen with track record of establishing, maintaining, and enhancing client relationships
• Strong work ethic, collaborative, ability to multi-task
• Adaptable, versatile, and analytical
• Strong communication and teamwork skills

Expected base pay rates for the role will be between $150,000 and $200,000 per year for Associate, and between $175,000 and $250,000 per year for Vice President, 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.