2026 Investment Banking Summer Associate Program (Private Capital Advisory)

2026 Investment Banking Summer Associate – Private Capital Advisory (PCA)

Morgan Stanley is a worldwide leader in investment banking. We are one of the top firms in mergers & acquisitions (M&A), underwriting of equity transactions, corporate debt issuance, and high-yield debt financing. With professionals in 30 countries, we are consistently recognized for our performance in traditional and innovative financing solutions, helping clients around the world to make decisions about their business strategy and financial structure.

Role and Responsibilities

Morgan Stanley's Private Capital Advisory (”PCA”) team is a global team focused on advising leading financial sponsors and institutional investors on a wide range of strategic secondary market liquidity solutions including, but not limited to, continuation funds, strip sales, fund tender offers and private IPOs. The team works closely with industry and product groups within investment banking, as well as other business units across the firm to provide relevant market insights, structuring advice, and best-in-class execution to our clients.

As a member of the team, successful candidates will be responsible for providing advisory, structuring and execution services to clients with investments across the private capital universe. The successful candidate will work closely with professionals throughout the firm to deliver high quality advice to our clients. You will play an important role on a team that includes senior professionals who will encourage you to go beyond the numbers and think creatively. Roles and responsibilities of a Summer Associate vary but may include:

• Managing and assisting with business development, transaction execution and other key strategic initiatives
• Performing financial analysis, strategic business analysis and critical thinking across transaction opportunities
• Preparing and delivering client presentations in a clear and compelling manner
• Contributing to team discussions and client meetings

Qualifications and Skills

• You are an MBA or a J.D. student graduating between December 2026 and June 2027.
• You have at least two to three years of work experience (preferred)
• You can manage multiple projects, provide comprehensive financial analysis, and develop thoughtful transaction and client solutions
• You have excellent analytical and decision-making abilities

Expected base pay rate for the role will be $175,000 USD per year at the commencement of employment.  However, base pay is only part of the total compensation package, which, depending on the position, may also include discretionary bonuses 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).