2027 Fixed Income Off-Cycle Internship (Milan)

About the role

The Milan Fixed Income Off-Cycle Internship offers recent graduates and students completing studies in 2027 or 2028 experience as full-time analysts on the Credit Sales desk. Interns support client ideas, pricing, product development, trade lifecycle activities, automated tools, and company roadshows while gaining exposure to Sales, Trading, and Management.

Responsibilities

• Support client relationship managers by communicating value-added ideas based on personal opinions and Firm research.
• Develop stock-pitching ideas and write investment cases covering competitive advantages, sector characteristics, and valuations.
• Support pricing requests, generate ideas, and assist with products tailored to bespoke client needs.
• Work across the trade lifecycle, from indicative quotes through post-settlement support.
• Improve and develop automated tools, and participate in company roadshows.

Training and Exposure

• Receive on-the-job training while working alongside experienced professionals on varied projects.
• Work within a specific Fixed Income desk for the duration of the internship.
• Gain exposure to Sales, Trading, and Management while building a network across the Firm.
• Undertake additional projects to broaden understanding and improve desk productivity and efficiency.

Requirements

• Be a recent graduate or due to complete studies in 2027 or 2028.
• Demonstrate strong analytical and numerical skills and comfort working with financial data.
• Perform effectively under pressure and against tight deadlines while managing multiple responsibilities.
• Be a collaborative team player committed to professional and ethical standards.
• Communicate complex ideas clearly and summarise them effectively.
• Have an excellent academic background and fluency in English and Italian.

Application

• Submit only a CV and covering letter, both written in English.
• The internship is based in Morgan Stanley’s Milan office.