2026 Fixed Income Summer Analyst Program (New York)

Morgan Stanley • New York, NY

326d • $52

About The Position

The Fixed Income Summer Analyst Program is a 10-week program consisting of one week of classroom training, followed by multiple rotations across Fixed Income. Rotations may include Global Credit & Municipals, Securitized Products, Foreign Exchange/Emerging Markets, Interest Rates, and Commodities. 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. 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 Summer Analysts then attend 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.

Requirements

• Pursuing an undergraduate Bachelor's degree (junior) or a Master's with a graduation date of December 2026 or Spring 2027.
• Minimum 3.0 GPA.
• Keen interest in finance and markets, although no prior knowledge of finance or sales & trading is required.
• Analytical, adaptive, possess a strong work ethic, are a leader yet team player, as well as a multi-tasker.
• Strong oral and written communication skills.

Responsibilities

• Understand how a client base is developed and maintained; create investment ideas; learn how we sell and cross-sell the Firm's products; represent the Firm when interfacing with clients on important business issues.
• Assist in generating trade ideas and analysis; support all aspects of the market-making and trade execution process, from providing research analytics on trades to relative value analysis.
• Help develop investment recommendations on Fixed Income Securities through the study and analysis of market fundamentals and technical research. Understand how we use the existing firm model database to develop new models.
• Learn how to build valuation models to help issuers and investors optimize a transaction's economics, and quantify sources of value and risk.

Benefits

• Expected base pay rates for the role will be $52.89 per hour at the commencement of employment.
• Total compensation package may include commission earnings, incentive compensation, discretionary bonuses, and other short and long-term incentive packages.
• Morgan Stanley sponsored benefit programs.

What This Job Offers

• Career Level: Intern
• Industry: Securities, Commodity Contracts, and Other Financial Investments and Related Activities
• Education Level: Bachelor's degree
• Number of Employees: 5,001-10,000 employees