2026 Investment Management Spring Co-Op Program - Fixed Income Global Trading (Boston)

Program Overview

Morgan Stanley Investment Management (MSIM) hires undergraduate co-ops to simultaneously contribute to and learn about a group within our division. Co-ops spend six months fully immersed in their work and MSIM culture, resulting in an enriching and formative experience. The co-op role within MSIM is primarily a learning and growth opportunity, which does not necessarily correlate with full-time opportunities within the firm.

Position Overview

This position will be responsible for assisting Traders and Trading Assistants with the daily processes of the Trading Desk. Given the complexity of the Department’s strategy and investment types, this includes daily reporting responsibilities, trade and auction research, and various ad-hoc projects. The co-op acts as a fully integrated member of the Trading Desk and is expected to perform at a high level in all responsibilities.

Responsibilities

• Monitor government auction results using Bloomberg and Thompson Reuters excel links & central bank websites for Research Associates and Analysts.
• Track stats on corporate & sovereign bond issuances within emerging markets.
• Monitor currency hedges on various accounts to inform traders of any over or underexposed currency, and monitor commodity fund exposure with different brokers.
• Inform Analysts and Traders daily of foreign settled cash balances, current repo positions and the position’s repo cash, rate, and haircut.
• Update weekly report with Asian bond yields for Global Income’s Overnight Trader.
• Assist Trading Operations in their daily tasks such as pricing and booking trades.
• Oversee cash balances of department funds in comparison to the fund’s NAV, and project balances for the following business day.
• Manage counterparty trade confirmations and coordinate with the counterparty to resolve any discrepancies.
• Create reports and complete projects on an ad-hoc basis for Portfolio Managers, Analysts, and Traders to use when evaluating different markets & securities.

Requirements

• Available to start in January 2026 and finish role at end of June 2026
  • Ability to extend co-op into early July 2026 preferred 
• Able to commute into downtown Boston for partial in-person working requirement
• Pursuing a Bachelor's degree with an expected graduation date December 2026 or later with a GPA of 3.2 or higher
  • Major in Finance, Computer Science, or related fields
• Demonstrated interest in financial markets through either coursework or work/internship experience
• Knowledge of Python or other programming languages
• Strong MS Office skills: Excel, Outlook, Word
• Ability to learn and use new software applications (i.e. Bloomberg, Reuters, Blackrock. applications)
• Excellent organizational, interpersonal, and time management skills
• Positive attitude, strong work ethic, and attention to detail

Application Process and Deadline

In order to be considered, candidates must apply with their resume and transcript through the Morgan Stanley website. Resumes will be reviewed on a rolling basis starting September 22nd, 2025 and continuing through October 3rd, 2025 or until the role is filled, whichever comes first.

Expected base pay rate for the role will be $30 - $40 per hour 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.