Global Capital Markets

Summer Analyst

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Placement and duration

Summer Analysts in Global Capital Markets (GCM) receive general offers, then are placed onto a desk in one of our main departments during the summer: Equity Capital Markets, Fixed Income Capital Markets, Leveraged Finance or Client Solutions. During the 10-week program, you will be working with our clients on complex, innovative financing and risk management solutions. The environment is market-driven and reflects that of an open trading floor where you are closely integrated with your team. The GCM experience and its flat structure will provide you with a high level of responsibility early in your career.

Training program

The Summer Program begins in early June with a one-week training program at our corporate headquarters in New York City. Training consists of a variety of presentations and exercises led by experts ranging from professors and industry leaders to current Analysts and senior bankers. It includes course work in accounting, industry and product-specific training, introduction to Morgan Stanley proprietary analytical tools and an overall introduction to the Firm. Analysts then spend the summer in one of our specific groups building a foundation of financial skills and a solid understanding of the markets. You will have a junior and senior mentor to aid you in your development and provide greater exposure to GCM and the Firm, and you will participate in regular training sessions hosted by Firm representatives on various topics ranging from new trends in the marketplace to group overviews.

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Lyndal Associate, Global Capital Markets
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Responsibilities

Summer Analysts 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 pursuing an undergraduate degree (junior) or a Master’s degree with a graduation date of December 2019 or Spring 2020.
  • Minimum 3.0 GPA.
  • You have basic knowledge of and a keen interest in finance.
  • You are analytical, adaptive, possess a strong work ethic, are a leader yet team player, as well as a multi-tasker.
  • You possess strong oral and written communication skills.