2025 Institutional Equity Derivatives Trading & Structuring Sophomore Summer Analyst Program (New York)

Morgan Stanley’s Institutional Equity Division (IED) is a world leader in the origination, distribution and trading of equity, equity-linked and equity-derivative securities. The Division services a global Institutional client base, providing clients with innovative product solutions that help to generate alpha within their portfolios.

Overview & Placement

The Institutional Equity Sophomore Summer Analyst Program is a 10-week program consisting of one week of classroom training, followed by multiple rotations across the Equity division through our Trading, Distribution and Prime Brokerage desks. Summer Analysts receive on-the-job training, benefit from working alongside experienced professionals on meaningful projects, and build their skillsets in a dynamic and evolving environment. In addition, the Program features a Senior Management Speaker Series, desk teach-ins, networking events, community service, performance reviews, and a robust mentorship program.

Please apply to this program if you are interested in our more quantitative, trading or structuring/content roles with Equities. Please note, you should apply for the 2025 Institutional Equity Sophomore Summer Analyst Program (New York) if you are interested in our Sales, Prime Brokerage or Sales-Trading roles within Equities.

Training Program


Summer Analysts begin with a one-day orientation where they are introduced to the Firm's businesses, learn about what it is like to be an employee at Morgan Stanley and network with Summer Analysts throughout the Firm. For the remainder of training, Summer Analysts will attend divisional specific training where they learn core skills essential to a successful summer. The curriculum includes daily market updates, business-specific overviews, and basic product and technical training.

Roles & Responsibilities

Equity Derivatives: Across global equity derivatives markets, Morgan Stanley is a leading provider of execution services and solutions. Our product suite encompasses equity options, equity swaps, warrants, structured notes and futures on individual securities, indices, and baskets of securities.

Some of our Derivatives Trading & Structuring desks include:
• AMM
• Baskets
• ETFs
• Exotics
• Structuring
• QDS

Qualifications/Skills/Requirements

•You are pursuing an undergraduate degree with a graduation date of December 2026 or Spring 2027
•Minimum 3.0 GPA
•While no prior knowledge of finance or trading is required, candidate must have a keen interest in finance and markets
•Candidate is collaborative, a quick learner, adaptable, versatile, a multi-tasker, enjoys solving problems, and possesses a strong work ethic
•Strong interpersonal, verbal, and written communication skills

This program is open to applicants of any race, gender or other protected characteristic.
Program Focus: Morgan Stanley prides itself on fostering an environment that promotes diverse talents and perspectives. One way we demonstrate our commitment to diversity is through the Sophomore Summer Program. This program has a strong emphasis on attracting populations who have experienced barriers to entry in the finance industry, including: Women, Hispanic, Black, veteran, disabled, LGBTQ+, first-generation college students and those from economically disadvantaged backgrounds.

Application Process and Deadline

In order to be considered, candidates must apply by September 6, 2024 at 11:55 PM EST. You must also complete a Hirevue video within 48 hours of completing the rest of your application and by the September 6th deadline.

Expected base pay rate(s) for the role will be $36.06 per hour 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).