2025 Investment Management Spring Co-Op Program - Fixed Income Municipal Bond Research (Boston)

Program Overview

Morgan Stanley Investment Management (MSIM) hires undergraduate co-ops to simultaneously contribute to and learn about various groups within our division.

Co-ops spend six months fully immersed in their work and MSIM culture, resulting in an enriching and formative experience.

The co-op role within MSIM is primarily a learning and growth opportunity, which does not necessarily correlate with full-time opportunities within the firm.

Position Overview

Assist senior municipal research investment analysts with credit research, surveillance and relative value initiatives in the Fixed Income Municipal Bond Department.

The department oversees more than $38 billion in total assets, whose holdings include both tax-exempt and taxable bonds, and whose proceeds finance a myriad of infrastructure improvement projects throughout the United States.

Responsibilities

• Support municipal research investment group on long-term projects and day-to-day activities
• Assemble financial data from multiple databases to generate a variety of reports used to facilitate credit prioritization, investment opportunity and environmental sustainability scores
• Automate financial analysis workflows, quality controlling data inputs and outputs
• Conduct, along with senior analysts, credit quality reviews and assessments of existing holdings via analysis of comprehensive annual financial reports and other relevant material
• Create spreadsheets to generate financial ratios pertinent to credit-risk profile determination
• Develop quantitative models to support fundamental research by collecting, maintaining and analyzing financial and statistical data
• Assist with surveillance of bond holdings through evaluation of periodic financial reporting, monitoring various news sources and communication with peer group professionals, external industry analysts, and management teams

Requirements

• Available to start in January 2025 and finish role at end of June 2025
• Ability to extend co-op into early July 2025 preferred
• Able to commute into downtown Boston for partial in-person working requirement
• Pursuing a Bachelor's degree with an expected graduation date between December 2025 and June 2026
• Strong accounting skills and familiarity with financial statements
• Major / Concentration in Finance or Accounting or experience with accounting coursework
• Quantitative skills (Python, SQL or R preferred) a plus
• Experience or demonstrated interest in the investment management industry
• Advanced Excel skills and proficiency with general computer applications (Microsoft, Word, Outlook)
• Excellent oral and written communication
• Must be organized, detail oriented, work well independently and as a member of a team

Application Process and Deadline

In order to be considered, candidates must apply with their resume through the Morgan Stanley website. Resumes will be reviewed on a rolling basis starting August 31, 2024 and continuing through September 30, 2024 or until the role is filled, whichever comes first.

Applications will no longer be accepted after September 30, at 11 : 55 PM EST.

Expected base pay rate for the role will be $30 - $40 per hour at the commencement of employment. However, base pay is only part of the total compensation package, which, depending on the position, may also include discretionary bonuses and other Morgan Stanley sponsored benefit programs.

Job Level

Co-op

Program

Spring Co-op