Associate Equity Research Analyst – Equity Research

Morningstar; Chicago (IL); Hybrid; USD 70,000 - 95,000; Full time

Job summary

Morningstar Development Program seeks an Associate Equity Research Analyst in Chicago. This full-time, hybrid role focuses on coverage of stocks and original, unbiased research for investors.

Ideal candidates have a bachelor’s degree by May 2027 and 0–2 years of experience, with strong writing and reasoning skills, curiosity, and attention to detail. An interest in investing and willingness to learn are a plus.

Qualifications

• Bachelor's degree to be completed by May 2027 from any field.
• Zero to two years of full-time work experience.
• Strong reasoning and writing skills with attention to detail.
• Curiosity with a willingness to learn and explore investing questions.
• Interest in investing and quantitative thinking is a plus.

Responsibilities

• Develop a deep understanding of covered companies and industries using research, news, and data.
• Assist in building and maintaining company and industry models to grow modeling skills.
• Develop proficiency with Morningstar equity research methodologies and financial statement analysis.
• Support the team in publishing timely, insightful research updates for investors.
• Collaborate on deep-dive research that is differentiated and clearly communicated.
• Maintain an investors-first mindset and awareness of behavioral biases.

Skills

Reasoning

Writing

Curiosity

Attention to detail

Clear communication

Education

Bachelor's degree

Tools

Financial modeling

Job description

Morningstar Development Program – Equity Research | Morningstar

The Tone:

This is an early career, full-time role at Morningstar, located in a hybrid capacity in Chicago, IL. Morningstar is one of the largest independent sources of fund, equity, and credit data and research globally, advocating for investors’ interests. This position is a crucial part of the Morningstar Development Program, designed to prepare recent college graduates for successful, long-term careers within the company. As an Associate Equity Research Analyst, you will contribute to impartial ratings on stocks and provide original, influential, thoughtful, and unbiased research that empowers investors.

The TL;DR

• Role: Early Career
• Type: Full-time
• Location: Hybrid, Chicago, IL
• Pay: $83000 yearly
• Team: Equity Research team, specifically a sector team
• Mission: Facilitate coverage of stocks and contribute materially to topical and thematic research within a sector.

What You’ll Actually Do

• Understand: Acquire a deep understanding of the companies and industries your team covers by gathering and interpreting relevant research, news, and data.
• Model: Help teammates develop and maintain company and industry models to build your modeling expertise.
• Master: Develop high proficiency with Morningstar’s equity research methodologies and disciplines, including financial statement analysis and corporate finance.
• Publish: Support your team’s efforts to publish timely and insightful research updates aimed at a broad audience of investors.
• Collaborate: Work with teammates on “deep dive” research that is differentiated, substantiated, and clearly communicated.
• Advocate: Sharpen your awareness of behavioral biases and embody an “investors first” mindset at all times.

The Must-Haves

• Background: A bachelor’s degree, to be completed no later than May 2027, from any field of study, preparing you for an Associate Equity Research Analyst role.
• Experience: Zero to two years of full-time work experience.
• Skills: Strong reasoning and writing skills, irrepressible curiosity, high personal standards for thoroughness and attention to detail, and the ability to communicate complex ideas clearly and succinctly.
• Bonus: An interest in investing, coupled with a willingness to learn and a penchant for experimenting with new ways to approach questions and puzzles.