2026 Fixed Income Off Cycle Internship (Milan)

In the Fixed Income division, we work in fast-paced and constantly changing global markets to assess and manage risk, trade securities, manage relationships with clients, and structure and execute innovative transactions.

Since 1935, Morgan Stanley is known as a global leader in financial services, continuously evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

PLACEMENT AND DURATION

The Sales & Trading Off-Cycle Internship Programme is an opportunity to experience the culture and atmosphere in the Sales & Trading Division by taking on some of the roles and responsibilities of a Full-time Analyst for a short period. The Program length varies between three or six months, depending on business needs and candidate availability. You will be assigned to Morgan Stanley Fixed Income Distribution desk where you will undertake work which directly supports delivering exceptional ideas to our clients. There will also be opportunities to undertake additional projects to broaden your understanding, as well as improve the productivity and efficiency of the desk. This Off-Cycle internship is available in our Morgan Stanley Milan office.

TRAINING PROGRAM

You will receive on-the-job training and benefit from working alongside experienced professionals on a variety of projects.

RESPONSIBILITIES

Off-cycle Interns are hired onto specific desks where they remain for the duration of their programme, providing assistance on a wide range of tasks including:

• Market and Financial analysis
• Industry research
• Market and Internal trading commentaries
• Review and processing of relevant market headlines
• Preparation of slides and other written materials
• Please note that client facing activity is not allowed under the term of an Off-Cycle Programme.

QUALIFICATIONS / SKILLS / REQUIREMENTS

• You have strong analytical and numerical skills that put you at ease with financial data
• You are results-driven, and perform well under pressure and against tight deadlines
• You are a proven team player and can manage a wide range of responsibilities
• You are committed to excellence in your work and maintain high professional and ethical standards
• You articulate complex ideas simply and summarise them effectively
• You have an excellent academic background and fluency in English and Italian.

WHAT YOU CAN EXPECT FROM MORGAN STANLEY

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 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. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.