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Internship Programmes

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Morgan Stanley's internship programs are available to exceptional undergraduate and advanced degree students. This is your best first step to joining their full-time Analyst or Associate programs.


Summer Analyst Programs

Designed to give interns the opportunity to experience the life of a full-time Analyst. Interns work on real business needs and are provided with training and guidance that enable them to make an impact.

Summer Associate Programs

Summer Associate Programs are available to students pursuing MBA, MFE or PhD Degrees. These programs are designed to provide candidates with in-depth exposure and hands-on experience in their business area while rapidly enhancing their professional skills and knowledge.

Additional Internship Programs

Morgan Stanley offers internships beyond the summer cycle. In EMEA Morgan Stanley offers internship programs throughout the school year. These programs vary in length and scope, but are focused on formally introducing candidates to the industry.


Institutional Securities

Bank Resource Management

This department is responsible for working closely with Morgan Stanley's Prime Brokerage, Equities, Fixed Income and Treasury divisions to help investors and the firm finance trading activities. Their trading desks use repos and reverse repos, and lend and borrow securities to help large investors execute their investment strategies while managing risk and exposure to each firm. Morgan Stanley's clients include many of the world's leading hedge fund and mutual fund managers, banks and institutional investors. They transact in stocks, options and bonds on a daily basis to help finance their clients and the firm, as well as provide highly valued, analytical insight into the global markets.

Commodities

This department is responsible for providing risk management, investor products, financing solutions and liquidity across commodities markets including oil, metals and power & gas. They service a wide variety of clients including producers and consumers; refiners and utilities; central, private and retail banks and sovereign wealth funds worldwide. With knowledge of both the financial and physical aspects of commodities, they are execution specialists, salespeople, market analysts and originators. Working closely with colleagues across Morgan Stanley, including Investment Banking and Wealth Management, they offer efficient access to capital to help clients protect and grow their business and to take advantage of market opportunities.

Equity Research

This department is responsible for researching macroeconomic and microeconomic conditions along with company fundamentals, and for collecting and analysing financial information to make specific investment recommendations. Research Analysts use Morgan Stanley's proprietary framework for Risk-Reward analysis to identify investment opportunities for clients. They use their interactions with leading investors to identify the key debates driving asset prices; they build financial models to explore alternative scenarios; and they make recommendations based on relevant evidence that is not yet reflected in current prices. They regularly publish research notes to discuss their conclusions and thinking.

Fixed Income

This department is responsible for assessing and actively managing risk, trading securities and structuring, as well as executing innovative transactions in the fast-paced and constantly changing global markets. The team comprises four groups: Macro Trading, which includes interest rate and currency products; Credit Trading, which covers a variety of credit-related securities, derivatives and loans; Securitised Products, which is involved in trading and structuring of asset-backed securities and derivatives; and Distribution, whose salespeople help institutional clients achieve their investment objectives and provide access to the rest of the firm. Fixed Income Research also works closely with Morgan Stanley's traders and salespeople to analyze trends and strategies for clients to use.

Fund Services

This department is responsible for providing administration services to Hedge Funds. Using Morgan Stanley's proprietary, globally accessible technology platform, we provide a full range of fund administration services. These include daily accounting and financial reporting; transfer agency and investor services; middle and back-office support; and integrated portfolio analytics. Morgan Stanley Fund Services is supported by more than 600 dedicated professionals based in New York, London, Dublin, Glasgow, Mumbai, and Bangalore.

Global Capital Markets

This department is responsible for helping clients raise capital, whether as stock, bonds or related products. GCM combines the firm's investment-banking skills with its sales and trading expertise, so it can offer clients fresh ideas and worldwide distribution in the capital markets. Morgan Stanley works to help clients get the most value from each stage of a transaction, while managing risk.

Institutional Equity & Prime Brokerage

This department is responsible for originating, distributing and trading equity, equity-linked and equity-derivative securities, and is a global leader in this business, operating in more than 25 countries. Equity Sales & Trading distributes content, provides liquidity and financing, and develops client solutions. It helps the firm's clients frame the investment debate and provide liquidity or market access via cash, derivative and financing products. It also offers exchange-traded funds/notes linked to a variety of strategies and markets; helps fund managers increase their efficiency and performance through commission management; provides a complete spectrum of electronic trading services; assists hedge funds and others with prime brokerage services; and conceives quantitative and derivative strategies for the firm's clients.

Investment Banking

This department is responsible for helping a wide variety of clients around the world make and execute decisions about their business strategy and financial structure. Morgan Stanley is one of the top firms in mergers and acquisitions (M&A), underwriting equity and related issues, corporate debt and high-yield debt financing.

Public Finance

This department is responsible for raising capital to fund projects for public sector and not-for-profit institutions. They structure tax-exempt and taxable offerings and derivative solutions to meet the needs of state and local governments, hospitals and healthcare organizations, higher education and cultural institutions, housing authorities, transportation agencies, water and sewer systems, power utility systems and student loan agencies. They need to fund vital projects with the least burden on public resources.

Strats & Modeling

This department is responsible for revenue-generating activities that are centered on analytics and technology. Embedded Strat teams work inside the firm's Global Capital Markets, Banking, Commodities, Equity and Fixed Income businesses. Other teams focus on practice areas like Market Modeling, Core Analytics and Model Standards and Enforcement.

Investment Management

This department is responsible for managing investments on behalf of both institutional and individual investors. Morgan Stanley Investment Management's (MSIM's) institutional clients include pension funds, foundations and endowment companies. The firm's objective is to help its clients achieve outstanding long-term investment performance by offering them a wide array of equity, fixed income and alternative investments, such as real estate, private equity and hedge funds.

Wealth Management

This department is responsible for enabling Morgan Stanley's Financial Advisors and Wealth Advisors to help meet the investment and financial needs of individuals, families, businesses and institutions. Morgan Stanley Wealth Management is a global leader in wealth management with a network of approximately 800 offices and 16,000 Financial Advisors. Their wide range of products and services include brokerage and investment advisory services, financial and wealth planning, credit and lending, cash management, annuities and insurance, retirement and trust services.

Corpoate Treasury

This department is responsible for accessing long and short-term financing, analysing the liquidity position of the firm and optimizing its global capital base. Corporate Treasury acts as a partner to senior management and business units by providing forecasted business unit cash capital and liquidity needs. The department maintains relationships with regulators and creditors, and manages the firm's foreign exchange and interest rate exposure.

Credit Risk

This department is responsible for managing and overseeing the firm's credit risk - the risk that Morgan Stanley might face if a borrower didn't meet its obligations. Credit Risk Management (CRM) reviews transactions that may pose this kind of risk to the firm. The Credit Risk Department keeps track of internal risk limits, works with the business units and reports to management on credit risk issues.

Finance

This department is responsible for protecting Morgan Stanley's business by acting as keeper of the firm's books and records and by serving as trusted advisor to Morgan Stanley's businesses and its senior management team. The 2,500 employees of Finance worldwide maintain relations with Morgan Stanley's various industry and government regulators and also with the outside investment community. Finance provides financial planning, and timely, accurate and clear financial information, analysis and advice to support business decisions and manage firmwide risk.

Human Resources

This department is responsible for providing HR support and strategy to all of Morgan Stanley's businesses worldwide. The division consists of Coverage, Product, and Operations teams. HR Coverage consists of teams of HR generalists who provide support to the firm's business units. Product teams are centralized groups that focus on specific HR functions, such as Benefits, Learning and Development, Recruiting and Data Analysis. Morgan Stanley's HR Operations team focuses on optimizing the department's business processes, improving technology and developing strategic recommendations.

Internal Audit

This department is responsible for validating that the firm operates with appropriate controls and risk-management processes. Auditors use risk-based methodology to evaluate the adequacy and effectiveness of the firm's internal controls. Internal Audit reports directly to the Board Audit Committee and ensures Morgan Stanley's compliance with internal guidelines for risk management and monitoring and industry rules and regulations. It also ensures that the firm meet its fiduciary responsibilities to shareholders.

Market Risk

This department is responsible for managing all market risk exposures arising from the Morgan Stanley's business activities. Each group in Market Risk serves a well-defined role: Risk Managers, Research (includes Risk Capital, Analytics, and Model Review), Portfolio Analysis and Risk Reporting, and Information Technology.

Operational Risk

This department is responsible for preventing financial loss or other potential damage to the firm's reputation due to inadequate or failed internal processes, people, systems or external events. Operational Risk Management works with the business units and control groups to help ensure Morgan Stanley has a transparent, consistent and complete program for managing operational risk, both within each area and across the firm globally.

Firm Strategy & Execution

This department is responsible for supporting Morgan Stanley's senior-level decision makers, including the CEO, CFO, business unit heads and other members of the Management Committee, as they find new ways to strengthen the Firm's leadership in global financial services. The group, based in New York, advises them on strategic alternatives by analysing industry dynamics across lines of business. It also provides execution services related to principal (internal) mergers and acquisitions.

Operations

This department is responsible for the front line of defense for Morgan Stanley's financial well-being. Operations is one of the largest divisions in the firm, with many essential responsibilities. These include settling and recording transactions each day, identifying and mitigating operational risks, developing strong client relationships and partnering with Technology to realise the potential of IT today and tomorrow. The division continually looks for ways to improve current operations while actively supporting the development of new markets, businesses and structures.

Technology

This department is responsible for working as a strategic partner with their business units and leading global technology companies to redefine how Morgan Stanley does business in increasingly fast-moving and complex global financial markets.

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