2026 Investment Banking Off-Cycle Internship (London)

Overview

In the Investment Banking division, we offer global expertise in market analysis, advisory, and capital-raising services for corporations, institutions, and governments. Since 1935, Morgan Stanley has been a global leader in financial services, continuously evolving to serve our clients and communities in more than 40 countries.

Off-Cycle Investment Banking Internship

The Investment Banking Off-Cycle Internship provides an opportunity to experience the culture and atmosphere of the Investment Banking Division (IBD) by taking on responsibilities similar to a Full-Time Analyst for a short period. The internship typically starts in January or August and lasts five months, though length may vary based on business needs and candidate availability. You will be assigned to a specific group in a specific region, building basic skills in financial analysis, accounting, and valuation, while working on a wide range of domestic and international transactions.

Training Program

You will receive on-the-job training and benefit from working alongside experienced professionals on a variety of projects.

Role and Responsibilities

• Gather and synthesize financial and operating information about companies, industries, and governments.
• Create and update financial models.
• Gather market data to analyze trends and help value and price transactions.
• Draft presentations and memoranda for a wider audience within the Firm and the financial services industry.
• Attend team discussions and client meetings, where you may be asked to deliver parts of a presentation.

Qualifications and Skills

• Strong analytical and numerical skills with comfort handling financial data.
• Results-driven, able to perform well under pressure and against tight deadlines.
• Proven team player with the ability to manage a wide range of responsibilities.
• Excellent academic background and fluency in English. Ability to communicate effectively in multiple languages is an advantage.
• Ability to articulate complex ideas clearly and summarize them effectively.
• Commitment to excellence and high professional and ethical standards.

Application Deadline

The application deadline for this position is Monday, 4 May 2026. We recruit on a rolling basis, so applications are encouraged as soon as possible. We aim to review all applications in a timely manner; however, response times may vary due to high volumes. Applicants will receive an update via email when a decision is reached. Please note that all assessment centres will be held in London.

What You Can Expect from Morgan Stanley

At Morgan Stanley, we raise, manage, and allocate capital for our clients—helping them reach their goals. We have a long-standing history of differentiating through client focus, integrity, innovative ideas, and a commitment to diversity and inclusion, across more than 80,000 employees in 1,200 offices across 42 countries. You’ll have the opportunity to work with top professionals in an environment that supports and empowers you. Our teams are collaborative and creative, and we are dedicated to supporting employees and their families with comprehensive benefits. For more information about our global offices, please visit:

Morgan Stanley Global Offices