2027 Investment Banking and Global Capital Markets Strats Summer Associate Program (New York)

About the Role

Morgan Stanley is a worldwide leader in investment banking, recognized for performance in mergers & acquisitions (M&A), underwriting of equity transactions, corporate debt issuance, and high-yield debt financing. With professionals in 30 countries, the Firm provides clients with traditional and innovative financing solutions to support business strategy and financial structure decisions.

The New York City office is seeking Strats Summer Associates for the Investment Banking and Global Capital Markets Divisions. The role combines financial engineering, mathematical modeling, and computer science to conduct rapid quantitative analysis on capital markets transactions (including pitches and live execution such as debt and equity issuance, M&A, and restructuring) and to optimize complex hedging strategies for internal and external clients.

Program Details

• Duration: 10-week in-person program at Morgan Stanley headquarters in New York.
• Divisional Placement: Placement in either the Investment Banking Division (IBD) or Global Capital Markets (GCM) Strats Group.
• Training: Regular sessions hosted by Firm representatives covering accounting, industry and product-specific training, an introduction to Morgan Stanley proprietary analytical tools, and an introduction to the Firm.
• Mentorship: Mentors to support development and provide exposure to IBD or GCM.
• Early Responsibility: A flat structure experience designed to provide a high level of responsibility early in your career.

Responsibilities

• Create and maintain data-driven analytics and financial models used to advise clients in achieving strategic needs.
• Analyze transaction data, client behavior, and market activity to support M&A, IPO, and capital raising pitches.
• Work with sector coverage, sponsor coverage, and M&A teams to provide differentiated analysis and help source new clients.
• Develop and maintain critical business reporting solutions for desk and division senior management.
• Build dashboards and tools for bankers, including pipelines for ingesting, cleaning, and transforming financial and alternative datasets, often in collaboration with engineering teams to ensure scalable and efficient systems.

Qualifications

• Graduate student in Financial Engineering, Mathematics, Applied Mathematics, Physics, Statistics, Quantitative Finance, Computer Science, Electrical Engineering, Economics, or a related quantitative discipline.
• Completing your degree in December 2027 to June 2028.
• Keen interest in financial markets.
• Excellent quantitative skills and programming ability in a major language.
• Outstanding verbal and written communication skills.
• Ability to work with a strong sense of urgency while maintaining attention to detail.
• Drive and desire to work in a team-oriented environment.
• Working knowledge of Q/KDB, Python, Java, or Scala, with a desire to learn new techniques.

Process Details

• Applications will be reviewed on a rolling basis; you are encouraged to submit as soon as you feel ready.
• Candidates selected to progress to an interview will be evaluated for both the Investment Banking and Global Capital Markets Divisions; final divisional placement will be communicated later.
• Your divisional preference may be taken into consideration.
• Expected base pay: $72.12 per hour at the commencement of employment. Base pay is only part of the total compensation package, which may also include discretionary bonuses and other Morgan Stanley sponsored benefit programs.