2027 PhD Summer Intern - Portfolio Management, Quantitative Research Analyst

PIMCO Ltd. - Pacific Investment Management Company; Newport Beach (CA); On-site; USD 174,000 - 236,000; Full time

Benefits offered by this job

Relocation transition bonus

Competitive compensation

Job summary

PIMCO in Newport Beach, CA seeks PhD candidates for a 2027 Summer Internship in Portfolio Management, Quantitative Research Analytics. You’ll develop models for alpha generation and risk management, collaborating with portfolio managers across markets, and use Python (C++ optional) and AI tools from day one.

The program runs 10 weeks from early June to mid-August, with training, mentorship, and hands-on projects.

Qualifications

• Ph.D. candidate in Finance, Economics, Statistics, CS, Operations Research, or Mathematics.
• Expected Ph.D. graduation between Dec 2027 and Jun 2028.
• Business proficiency in English.
• Strong background in asset pricing, fixed income markets, economic theory.
• Experience with time series and panel data econometrics; large datasets preferred.
• Programming proficiency, especially Python; C++ knowledge is beneficial.
• High energy, results-driven, analytical and communicative.
• Curiosity using AI tools to solve problems and drive outcomes.

Responsibilities

• Develop models for alpha generation and risk management.
• Conduct econometric analyses of historical returns.
• Build empirical and risk-neutral valuation models.
• Support macroeconomic research and analysis of large transaction data.
• Collaborate with Portfolio Management on investment process.

Skills

Quantitative disciplines

Time series econometrics

Empirical research

Python

C++

Analytical skills

Communication skills

AI tools experience

Education

PhD candidate in quantitative field

Tools

Python

C++

Job description

PIMCO is a global leader in active fixed income. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 50+ years since, we have worked relentlessly to help millions of investors pursue their objectives - regardless of shifting marketing conditions. As active investors, our goal is not just to find opportunities, but to create them. To this end, we remain firmly committed to the pursuit of our mission: delivering superior investment returns, solutions,and service to our clients.

Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients.

2027 PhD Summer Internship - Portfolio Management, Quantitative Research Analyst

Internship positions are located at PIMCO's Newport Beach, CA Headquarters

Eligibility Criteria:

• Be a Ph.D. candidate from a top program in quantitative fields such as Finance, Economics, Statistics, Computer Science, Operations Research, Physics, or Mathematics.

• Expected graduation from the Ph.D. program between Dec 2027 and June 2028

• Have business proficiency in English.

PM Analytics

The PM Analytics team collaborates closely with Portfolio Management to provide quantitative inputs to PIMCO's investment process. This includes developing models for alpha generation and risk management. Team members may specialize in specific markets (e.g., credit, rates, mortgages) or take on cross-market roles such as asset allocation, portfolio construction, or execution. Key responsibilities involve conducting econometric analyses of historical returns, building empirical and risk-neutral valuation models, applying macroeconomic research, and analyzing extensive transaction data to enhance trade execution.

Desired candidates should possess the following skills and characteristics:

• A strong interest and background in quantitative disciplines, with knowledge of asset pricing, fixed income markets, economic theory, and optimization methods preferred.

• Formal training in empirical research, particularly in time series and panel data econometrics, with experience in analyzing large datasets preferred.

• Proficiency in programming, with a strong preference for Python; knowledge of C++ is also beneficial.

• High energy, a results-driven mindset, and strong analytical, problem-solving, and communication skills.

• Demonstrate curiosity and experience in using new emerging technologies and AI tools in your work or school projects to solve problems and drive better outcomes

The PIMCO Internship Experience:

• The PIMCO Internship is a 10-week program that runs from early June to mid-August, with the expectation that you will be available for the full duration of the program

• The first week includes PIMCO Fundamentals Training, equipping you with essential skills and knowledge for success.

• You will then be assigned a project to complete under the mentorship of a supervisor and peer mentor.

• You are also encouraged to take advantage of the expertise of your teammates and subject matter experts throughout the firm.

• Regular feedback will be provided at mid-summer and at the end of the program to help you achieve your goals.

• At the conclusion of the internship, you will present your findings to the team.

• Your supervisor, peer mentor, senior leaders and team offer guidance and mentorship throughout the summer

• You will gain hands‑on experience with AI-powered tools from day one, with training and resources that help build future ready skills and make an impact from the start

• You will also have opportunities to explore the diverse range of products traded at PIMCO and participate in various educational, networking, and social events.

• As a PIMCO intern, you'll receive competitive compensation, along with a transition bonus to help with relocation to one of our office locations

Interview Process:

• After receiving your application, we will conduct an initial resume review.

• If selected, you will participate in a first-round interview via video conference to discuss your interests and skills.

• Successful candidates will proceed to final-round interviews, which will also be conducted live via video conference and will cover both behavioral and technical topics.

Applications for the internship program are reviewed in phases. Candidates are strongly encouraged to apply as early as possible to be considered in the initial review. Later applications received may still be considered; however, due to the high volume of interest, we cannot guarantee that all applications will be reviewed.

PIMCO is an equal opportunity employer committed to creating an inclusive, cognitively diverse environment.

For more information on PIMCO and Career Opportunities, please visit https://www.pimco.com/us/en/about-us/careers

PIMCO follows a total compensation approach when rewarding employees which includes a base salary and a discretionary bonus. Base salary is the fixed component of compensation that is determined by core job responsibilities, relevant experience, internal level, and market factors. The discretionary bonus is used to award performance and therefore is determined by company, business, team, and individual performance.

Salary: $ 205,000.00

PIMCO recruits and hires qualified candidates without regard to race, national origin, ancestry, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), sexual orientation, gender (including gender identity and expression), age, military or veteran status, disability (physical or mental), any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other basis such as medical condition, or marital status under applicable laws.

PIMCO is an Equal Employment Opportunity/Affirmative Action employer. We provide reasonable accommodation for qualified individuals with disabilities, including veterans, in job application procedures. If you have any difficulty using our online system due to a disability and you would like to request an accommodation, you may contact us at 949-720-7744 and leave a message. This is a dedicated line designed exclusively to assist job seekers with disabilities to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.