2027 PhD Summer Intern - Portfolio Management, Quantitative Research Analyst

pimco; Newport Beach (CA); On-site; USD 40,000 - 54,000; Full time

Benefits offered by this job

Relocation bonus

Competitive compensation

Job summary

PIMCO invites Ph.D. candidates in quantitative fields to join the PM Analytics team for a 10-week summer internship in Newport Beach, CA. You will work on alpha generation, risk modeling, and empirical research under mentorship, applying advanced econometric methods and AI tools from day one.

The program runs early June to mid-August; relocation support is provided and you will present your findings to the team at the end of the internship.

Qualifications

• Ph.D. candidate from a top program in quantitative fields (Finance, Econ, Stats, CS, OR, Physics, or Math).
• Expected Ph.D. graduation between Dec 2027 and Jun 2028.
• Business proficiency in English.

Responsibilities

• Conduct econometric analyses of historical returns to inform alpha generation and risk management.
• Develop empirical and risk-neutral valuation models; apply macroeconomic research.
• Analyze large transaction datasets to enhance trade execution and portfolio construction.
• Collaborate with Portfolio Management to support cross-market roles and asset allocation.

Skills

Quantitative disciplines

Python programming

C++ knowledge

Asset pricing

Fixed income markets

Econometrics (time series/panel)

Education

Ph.D. candidate from a top program

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.

202 7 PhD Summer Intern ship - Portfolio Management , Quantitative Research Analyst

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

Eligibility Criteria:

To apply, you must meet the following requirements:

• 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.

Want to learn more? Hear about The PIMCO Internship Experience from past interns

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 can