Morgan Stanley


The Public Finance Summer Associate Program is a 10-week program, including one week of classroom training. The program provides Master's students an opportunity to master the analytical, quantitative and interpersonal skills necessary to develop an exciting and rewarding career on Wall Street. Summer Associates assume the functions of Full Time Associate, servicing the Firm’s investment banking clients in the public sector and not-for-profit sector across the United States. Over the course of the summer, Summer Associates are given an opportunity to explore multiple product areas, including Infrastructure (States, Cities and Local Governments), Higher Education and Not-for-Profit Institutions, Healthcare, Affordable Housing, Public Power and Utilities and Syndicate.


Summer Associates begin with a one-day orientation where they are introduced to the Firm's businesses and learn what it's like to be an employee at Morgan Stanley. Public Finance Summer Associates then attend training where they learn the core skills required to be successful on the job, as well as Public Finance-specific training. The curriculum includes market updates, bond math, the fundamentals of tax-exempt municipal bonds and credit risk analysis. In addition, Summer Associates have several opportunities to network with peers, mentors and managers through speaker events, team building sessions, learning lunches, community service and social events.

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Summer Associates in Public Finance will collaborate with Full-time employees to develop the skills they will need to have a successful summer, including:

  • Draft presentation materials, memos and responses to Requests for Proposals to generate new business.
  • Develop structuring, cash flow financial models, primarily for bond transactions.
  • Shadow full-time employees as they communicate complex ideas and solutions with potential and existing clients.


  • Strong interpersonal, verbal and written communication skills


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.

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Application Process & Deadlines

Students must apply online at If Morgan Stanley recruits on your campus, you may also be required to apply through your school’s on campus system. After submitting your application, you will be asked to complete a video-recorded questionnaire through HireVue. You will receive an email with additional information on how to complete the video after you submit your application. We encourage you to account for this in your application timeline.

Learn more about Our Recruitment Process