Summer Analyst, Direct Lending (Summer 2026)

What You'll Do

We're looking for Summer Analyst / Interns to join our Middle Market Direct Lending platform for the summer of 2026! In this role, you'll gain hands-on experience by being involved in a variety of deals and be part of meaningful work! You'll assist in the due diligence, credit underwriting, execution, and portfolio monitoring of private debt investments.

Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!

Principal Asset Management, a subsidiary of Principal Financial group, offers global asset management expertise across a diverse set of traditional and alternative asset classes. Check us out at www.principalam.com!

What You'll Do

• Evaluate new leveraged buyout transactions and investment opportunities, attend management presentations, review deal terms and credit agreements
• Aid in the development of detailed financial models and sensitivity analyses of borrowers and provide analytical support for investment committee materials
• Work with assigned Underwriter and / or Senior Underwriter on all transactions
• Provide responses to inquiries from back office, origination, and marketing
• Actively monitor portfolio company performance and report concerns to underwriter / senior underwriter
• Participate in key areas of due diligence, including business and quantitative analysis, as well as industry and competitive research

Who You Are

Skills That Will Help You Stand Out

Salary Range Information

Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and / or skill level and will be finalized at the time of offer.

Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)

$29 - $29 / hour

Time Off Program

Paid company holidays and any time off required in your state.

Pension Eligible

No

Location(s)

This internship will be located at either our Global Headquarters in Des Moines, IA or New York City, NY or Chicago, IL.

Our Internship Culture

Join an established program that provides hands-on experiences for 200+ interns each year! You'll learn new skills with dedicated teams and mentors, build your professional network and collaborate across a global Fortune 500 company. We care about offering you diverse experiences and exciting challenges that push you to reach for bigger life goals, all while enjoying our flexibility and work life balance. Join us for events such as our Executive Speaker Series, gain career direction, and much more! https : / / www.principal.com / about-us / careers / internships

Internship Stipend

You will receive a lump sum stipend of $3,000. This amount is intended to support incidental expenses you may incur as part of your internship. The Company will provide a tax gross-up on this stipend as a financial benefit, but is not intended to compensate for all tax liabilities.

Work Authorization / Sponsorship

At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO : F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.

Nonimmigrant Workers and Green Card for Employment-Based Immigrants

Investment Code of Ethics

For Principal Asset Management positions, you'll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.

Experience Principal

At Principal, we value connecting on both a personal and professional level. Together, we're imagining a more purpose-led future for financial services - and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our interns.

Principal is an Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

Posting Window

We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.

Original Posting Date

8 / 29 / 2025

Most Recently Posted Date

8 / 29 / 2025