2025 Institutional Equity Strats Summer Associate Program - PhD (New York)
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About The Position
The Institutional Equity Strats Summer Associate Program at Morgan Stanley is an intensive 10-week internship designed for PhD candidates, providing them with the opportunity to work alongside full-time professionals on impactful quantitative projects. Throughout the program, Summer Associates will be integrated into a specific team, allowing them to gain hands-on experience and contribute to real-world projects. The program includes a variety of components such as a senior strat speaker series, product area training, networking events, and community service initiatives. Individual coaching and continuous feedback are integral to the program, helping Summer Associates to understand the long-term career opportunities available at Morgan Stanley. The program begins with a week-long introductory training that contextualizes the work Summer Associates will undertake. This training includes market knowledge, finance workshops, coding, and product training. Following this initial training, Summer Associates will receive ongoing, individualized on-the-job training as they join their assigned desks and begin their daily responsibilities. Each Summer Associate will have a direct manager and a program mentor, both of whom will provide invaluable support throughout the internship. As part of the Institutional Equity Strats team, Summer Associates will engage in various quantitative roles that require expertise in statistical analysis, applied mathematics, computer science, and computational finance. The teams are responsible for operating leading trading platforms, market-making operations, and derivative structuring, pricing, and risk management. Summer Associates will leverage their technical skills to tackle complex mathematical problems and contribute to the development of data and analytical decision-making tools, conduct analyses, present research ideas, and deliver valuation and risk management systems. The program offers exposure to multiple groups within Institutional Equity Strats, including Derivatives, Delta One, Automated Market Making, and Quantitative Research, allowing for a diverse and enriching experience.
