2027 Fixed Income Investment Associate

Dodge & Cox • San Francisco, CA

1d • $155,000 - $180,000 • Hybrid

About The Position

The Investment Associate will play an important role in Dodge & Cox's fixed income investment process and be part of a lean investment team, with a primary emphasis on credit investing, but opportunities to work alongside investment professionals across the firm. The Associate will develop a comprehensive set of skills centered on credit investing, work directly with senior investment professionals, and have the opportunity to meet with management teams representing the largest companies around the world. The bulk of training occurs on the job, supplemented by formal sessions on an interim basis. This person will also gain exposure to firm-wide investment ideas through ongoing research and portfolio management meetings. Investment Associate projects are wide-ranging. As a member of the fixed income investment team, this person will support senior professionals in all aspects of the investment process: identifying new opportunities, conducting research and analysis, advocating to investment committees, and managing portfolio exposures. This is a two-to-four-year position, after which candidates generally pursue other professional opportunities or enroll in business school. Research Associates have gone on to attend business schools including Stanford, Harvard, Wharton, The University of Chicago, and INSEAD.

Requirements

• One to two years of related work experience or an undergraduate experience that demonstrates exceptional potential
• B.A. or B.S. degree and an excellent academic record
• Coursework in economics, statistics, accounting, and finance is a plus
• Strong quantitative and analytical skills, including experience with financial modeling
• Proficiency with MS Excel and PowerPoint
• Coursework or demonstrated experience in corporate finance or valuation is a plus
• Familiarity with AI tools (e.g., Claude, Copilot) and willingness to apply them to research workflows

Nice To Haves

• High level of academic and professional achievement, and future growth potential
• Demonstrated interest in financial markets and investing
• A commitment to high-quality performance and strong attention to detail
• Intellectual curiosity and a drive to learn and improve
• An ability to collaborate effectively within a team-oriented environment
• Initiative and ability to manage multiple projects simultaneously
• Strong verbal and written communication skills

Responsibilities

• Analyze domestic and international corporate and government borrowers, and assist in the preparation of research reports; processes include data collection, fundamental due diligence, financial analysis, and assessment of valuation and potential returns
• Use data to construct and maintain portfolio analysis tools
• Update and maintain research reports on existing portfolio investments
• Prepare client presentation exhibits and reports

Benefits

• Coverage of 100% of all healthcare premiums for employees and their families
• Fully funding a retirement plan at 25% of the total compensation to the IRS limit
• Commuter benefits
• Health & wellness benefits
• Backup care
• Matching gift program
• Employee assistance program
• Life insurance
• Disability insurance

What This Job Offers

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