2027 Institutional Equity Strats Summer Associate Program (New York)

About the role

The 10-week Institutional Equity Strats Summer Associate Program offers hands-on experience in quantitative finance, working on trading platforms, derivative pricing, and risk management. Participants receive training, mentorship, and networking opportunities in a team-oriented environment.

Program Details

• 10-week intensive summer program in New York City.
• Work alongside full-time professionals on quantitative projects.
• Includes senior speaker series, product training, networking, and community service.
• Week-long introductory training on market knowledge, finance, coding, and products.
• Ongoing individualized on-the-job training with direct manager and mentor.
• Focus on understanding long-term career opportunities at Morgan Stanley.

Responsibilities

• Work on statistical analysis, applied math, computer science, and computational finance.
• Support trading platforms, market making, derivative structuring, pricing, and risk management.
• Develop data and analytical decision-making tools and valuation systems.
• Conduct analysis, present research ideas, and develop frameworks and workflows.
• Collaborate within one of three groups: Derivatives, Delta One, or Quantitative Research.
• Apply technical expertise to solve complex, unsolved problems in finance.

Team Groups

• Derivatives: Implement quantitative models for pricing and risk management.
• Delta One: Focus on cash products and enable sales and trading innovation.
• Quantitative Research: Design and maintain models driving equity trading engines.
• Teams use finance, econometrics, statistics, math, computer science, and data science.
• Systems support internal trading groups and firm clients globally.
• Emphasis on systematic, evidence-based market understanding.

Qualifications

• Pursuing PhD or Master's in Financial Engineering, Math, Physics, Statistics, Engineering, Quantitative Finance, or related field.
• Degree completion between December 2027 and June 2028.
• Strong programming skills in C++, Java, Matlab, Python, R, or Scala.
• Excellent mathematical academic training and interest in financial markets.
• Ability to work in intense, team-oriented environment with strong decision-making.
• Strong communication skills required.

Application Process

• Application deadline: 2026-10-14 23:59 ET.
• Online assessment required; invitations sent starting early September.
• First-round interviews via Zoom begin late September.
• Superday interviews via Zoom start early October.
• Contact [email protected] for questions or conflicts.
• Encouraged to apply early due to two waves of application reviews.

Compensation and Diversity

• Expected base pay between $72.12 and $84.14 per hour, individualized.
• Total compensation may include commissions, bonuses, and benefits.
• Morgan Stanley is an equal opportunity employer committed to diversity.
• Recruitment reflects standards of integrity and excellence.
• Workforce diversity includes all protected characteristics by law.
• Firm policy ensures equal employment opportunity without discrimination.