Putnam Equity Associate Intern

Franklin Templeton • Boston, MA

20h • $37 - $47 • Onsite

About The Position

This internship is intended for undergraduate students who will be entering their junior or senior year in the Fall 2027 semester. Putnam Investments, a Specialized Investment Manager (SIM) of Franklin Templeton, is a diversified, equity-only asset manager with roots dating back to 1937. We manage a range of active equity portfolios with a focus on stock-specific opportunities. Our approach — stock-driven rather than style-driven — is designed to produce consistent outperformance, regardless of the market environment. As of December 31, 2024, the firm managed over $121 billion in assets under management in strategies covering the style, geography, and capitalization spectrum, as well as sustainable solutions. We offer these strategies in a number of vehicles to meet the investment needs of our global clients and investors. Available vehicles include mutual funds, institutional separate accounts, SMA/model portfolios, ETFs, CITs and UCITS. The Equity Associate role is that of a junior Analyst, conducting fundamental research to make buy and sell recommendations on stocks just as would a more senior member of the research team. The internship will begin with a one-week training program including accounting, modeling and valuation training. In the following eight or nine-weeks, the Intern will focus on completing an industry project and will independently assume coverage of two stocks. For each, the investment case will be detailed through written research and a brief presentation given to a group of senior Analysts and Portfolio Managers. At the end of the summer, we will look to extend full-time offers to those who demonstrate the aptitude, passion and desire it takes to become a successful full-time Equity Associate.

Requirements

• In the process of completing a BA or BS degree required.
• Candidates with superior undergraduate academic records from all majors are encouraged to apply.
• Self-driven individuals, who thrive in an autonomous environment and are excited about the opportunity to make a meaningful impact, while serving as a fiduciary to Putnam’s shareholders, will do best.
• Demonstration of passion that can be applied to investing.
• Strong work ethic coupled with the desire to win.
• Ability to learn quickly and to effectively convey conclusions.
• Team player; additive to overall process with positive attitude, leadership by example, and active involvement at all levels to advance the investment dialogue.
• Candidates must be a U.S. citizen or national, refugee, asylee, or lawful permanent resident.

Nice To Haves

• Prior work experience in the financial industry is helpful but not necessary.

Responsibilities

• Build and leverage industry expertise – perform deep analysis on companies within covered industry subgroups, building relationships with company management teams, as well as with suppliers, customers, and competitors.
• Leverage that expertise to anticipate trends for each company, including an understanding of material ESG issues that will affect long-term fundamentals.
• Identify and develop insights on key stock drivers – figure out ‘what matters’ for each stock, performing creative and differentiated research to build conviction around likely outcomes for each critical variable and the resulting implications for companies’ profitability and stock prices.
• Communicate effectively to drive impact – articulate the investment case clearly, iterate with incremental analysis to support or disprove the theses, and present the finished product to a group of senior Analysts and Portfolio Managers.

Benefits

• competitive hourly pay of $37 - $47 USD per hour
• total reward philosophy where all aspects of compensation and benefits are taken into consideration in determining compensation
• resources focused around Experience, Exposure, and Education, to help you achieve your professional development goals

What This Job Offers

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