MSIM- High Yield Research- Analyst

Overview

Morgan Stanley Investment Management (“MSIM”), together with its investment advisory affiliates, has more than 1,100 investment professionals around the world and $1.6 trillion in assets under management or supervision as of March 31, 2022. MSIM strives to provide strong long-term investment performance, outstanding service, and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations, and individuals worldwide.

General Description

The Investment Management Analyst Program in the Fixed Income High Yield group typically runs five years and is intended for talented graduates who possess a strong interest in financial markets. The program begins with extensive training designed to equip Analysts with the fundamental skills they need to be successful in investment management.

The Analyst will support industry coverage and portfolio management workflows within the High Yield group’s investment team. Successful Analysts will gain substantial job responsibility and may progress to the Associate level during the program. Progression beyond the five-year program is dependent on staffing needs. This position offers an unparalleled opportunity to influence investment decision‑making while learning directly from experienced portfolio managers, analysts, and operations team members.

The High Yield department manages $26.4 billion as of March 31, 2025. Members of the High Yield research team contribute to idea generation by conducting thorough fundamental research and relative value analysis. Research is organized by industry specialization with each Senior Analyst covering high‑yield companies within two to four industries. When pertinent, members of the High Yield Group work closely with analysts from MSIM’s equity, leveraged loan, global income, and investment grade teams.

Primary Responsibilities

• Assist Senior High Yield Analysts and Portfolio Managers in their evaluation of potential investment opportunities. At a high level, this includes: (i) analysis of industry fundamentals and outlooks, and (ii) conducting in-depth fundamental research on individual company business models, operating strategies and outlooks. This work typically results in a conclusion regarding the creditworthiness of the company being evaluated and the relative attractiveness of their debt instruments.
• Build and maintain proprietary financial models from data obtained from company filings (e.g., 10‑K, 10‑Q) and other data sources (e.g., Bloomberg, S&P Capital IQ, industry‑specific information providers). In addition to company‑specific financial models, credit analysis often includes additional elements, such as: sensitivity analyses, peer comparisons and industry‑specific analyses.
• Prepare detailed initiation of coverage research reports and periodic updates.
• Take part in due diligence meetings with management teams.
• Participate in daily investment team meetings, company reviews (often occurring as a result primary issuance or a secondary market opportunity) and industry reviews.
• Work on special projects and assignments for the High Yield Team.
• Responsibility increases are based on merit and investment performance.

Job Requirements

• A bachelor’s degree and approximately 0-2 years of relevant work experience
• Strong academic record combined with extracurricular achievements
• Outstanding oral and written communication skills
• Strong Excel skills; experience modeling corporate financial statements (income statements, balance sheets, and cash flow statements), preferably from a credit perspective
• The ability to function reliably and independently with a high degree of accuracy and attention to detail
• Understanding of the corporate bond and equity markets

What You Can Expect from Morgan Stanley

We are committed to maintaining the first‑class service and high standard of excellence that have defined Morgan Stanley for over 89 years. Our values—putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back—aren’t just beliefs, they guide the decisions we make every day to do what’s best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work‑life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.

Expected base pay rates for the role will be between $100,000 and $125,,000 per year for Associate level at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long‑term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley's goal is to build and maintain a workforce that is diverse in experience and background but uniform in reflecting our standards of integrity and excellence. Consequently, our recruiting efforts reflect our desire to attract and retain the best and brightest from all talent pools. We want to be the first choice for prospective employees.

It is the policy of the Firm to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, religion, creed, age, sex, sex stereotype, gender, gender identity or expression, transgender, sexual orientation, national origin, citizenship, disability, marital and civil partnership/union status, pregnancy, veteran or military service status, genetic information, or any other characteristic protected by law.

Morgan Stanley is an equal opportunity employer committed to diversifying its workforce (M/F/Disability/Vet).