Global Capital Markets

Full-time Associate

apply for the program

Placement and duration

GCM Associates are placed into one of our main departments: Equity Capital Markets, Fixed Income Capital Markets, Leveraged Finance, or Client Solutions. Associates work with our clients on complex, innovative financing and risk management solutions in the fast-paced environment of a trading floor with immediate access to market information. The GCM experience and flat structure will provide you with a high level of responsibility early in your career.

Training program

All new Associates participate in a Firmwide orientation program that covers the Firm's businesses, the transition from an academic setting to a corporate environment and opportunities for establishing a network throughout the Firm. GCM Associates then participate in a comprehensive training program in our New York office. During the Program, they will learn corporate valuation methodologies, financial statement analysis, and modeling from some of the industry's top professionals. Associates are also trained and prepared to complete mandatory regulatory exams (i.e., Series 79) and have an opportunity to network with senior officers within Investment Banking, Global Capital Markets and other areas of the Firm.

Get to Know Our Recent Recruits

You’re working on transactions that you see on the front page.
Lyndal Associate, Global Capital Markets
Neel

Responsibilities

Full Time Associates in GCM work in one of our main departments: Equity Capital Markets, Fixed Income Capital Markets, Leveraged Finance or Client Solutions. The roles and responsibilities can vary by group and may include.

  • Equity Capital Markets: Learn how to read complex financial models and understand basic multiples such as P/E and Aggregate Value/EBITDA, in order to value companies; learn how equity deals are priced and play an active role in the origination and execution of transactions while working closely with your Corporate Finance counterparts in Investment Banking.
  • Fixed Income Capital Markets: Provide clients with valuable updates on market news and trends and how these affect their access to the debt capital markets; work with our trading and syndicate desks on rate views, product management and deal execution; build and run complex financial models.
  • Leveraged Finance: Analyze and create—for both corporate and financial sponsors—various financing alternatives in the context of debt and/or loan financing, leveraged buyouts and acquisition financings; create complex financial models and work closely with Investment Banking professionals to develop projections and valuation and merger analyses as it relates to evaluation of capital structure alternatives; develop client presentations.
  • Client Solutions: Provide clients with holistic solutions to various issues, from asset monetization and relationship lending to pension and risk across all sectors, including financial institutions and corporate clients; supply valuable analysis on market news and trends and the subsequent effect on clients’ access to capital markets; collaborate with trading and syndicate desks on rate and market views, product management and deal execution; structure complex financial transactions and develop, in conjunction with Investment Banking, valuation analysis as it relates to merger and acquisition activity.

Qualifications/ Skills/ Requirements

  • You are an MBA and /or J.D. student in your final year of study.
  • You have at least two to three years of work experience (preferred).
  • You can manage multiple projects, provide complicated financial analysis and develop appropriate corporate finance solutions.

alt

Morgan Stanley New York

Founded in New York City in 1935, Morgan Stanley has evolved into one of the world's foremost financial institutions, with more than 55,000 employees in 43 countries. Our New York headquarters offers the finest in financial thinking, products and execution to individual investors, companies, institutions and government agencies. We offer our clients the personalized attention and service of a boutique, the intelligence and creativity of the brightest professionals in the industry and the global resources of Morgan Stanley.

Learn More

Application Process & Deadlines

Students must apply online at www.morganstanley.com/campus. If Morgan Stanley recruits on your campus, you may also be required to apply through your school’s on-campus system.

Learn more about Our Recruitment Process