Equity Research Associate Analyst – Capital Appreciation Strategy

T. Rowe Price • Baltimore, MD

17h • Hybrid

About The Position

The Capital Appreciation strategy is a multi-asset class (equities, fixed income, covered calls) strategy managing over $105B (as of 3/31/2026). The strategy is managed by David Giroux, CIO for equity and multi-asset investing and a former Morningstar manager of the year. This role provides fundamental equity research support for the Capital Appreciation team, offering a daily opportunity to learn directly from senior investment professionals. The role involves learning the necessary skills to become a successful institutional investor and offers competitive compensation with significant upside potential for high performers.

Requirements

• Bachelor’s Degree required
• 2-4 years relevant work experience (technology equity research preferred)
• Strong Excel and financial modelling skills including previous experience building three-statement models
• Creativity and ability to imagine

Nice To Haves

• Strong academic background and intellectual curiosity
• Highly motivated, confident self-starter with ability to work independently and with others
• Effective communication skills (verbal and written)
• Demonstrated ability to conduct in-depth thematic research across a broad spectrum of topics which can be additive to the investment process
• Completion of at least level 1 of the CFA preferred
• Demonstrated ability to derive meaningful insights from in-depth research and analysis

Responsibilities

• Company/industry related research projects
• Building/updating financial models
• Assisting in quarterly earnings analysis
• Attending conferences and meetings with management teams
• Preliminary work on new ideas
• Collaborating with the entire Capital Appreciation team and others across the central research platform
• Providing investment insight and impacting the investment process

Benefits

• Competitive compensation
• Annual bonus eligibility
• A generous retirement plan
• Hybrid work schedule
• Health and wellness benefits, including online therapy
• Paid time off for vacation, illness, medical appointments, and volunteering days
• Family care resources, including fertility and adoption benefits

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level