Equity Capital Markets Analyst

T. Rowe Price; Baltimore (MD); Hybrid; USD 115,000 - 160,000; Full time

Benefits offered by this job

Competitive compensation

Annual bonus eligibility

Generous retirement plan

Hybrid work schedule

Health and wellness benefits

Paid time off

Family care resources

Job summary

T. Rowe Price, a premier global asset management firm, is seeking an Equity Capital Markets Analyst to support the Head of ECM in identifying, evaluating, and executing public equity transactions across portfolios.

You will work with portfolio managers, traders, and banks to source market intelligence and drive transaction execution. The role emphasizes building external relationships, delivering market insights, and supporting participation decisions.

Qualifications

• Bachelor's degree.
• 1–3 years of experience in equity capital markets, investment banking, sales & trading, investment management, equity research, or another related financial services role.
• Demonstrated interest in equity capital markets and public equity investing.
• Strong understanding of financial markets, corporate finance, and equity valuation concepts.
• Excellent analytical, quantitative, and problem-solving skills with the ability to synthesize complex information into actionable investment insights.
• Exceptional organizational skills and attention to detail, with the ability to manage multiple priorities in a fast-paced environment.
• Strong written and verbal communication skills.
• Demonstrated ability to build and maintain productive relationships with both internal stakeholders and external market participants.
• High level of professionalism, integrity, and sound judgment.
• Self-motivated, intellectually curious, and eager to continuously learn.
• Advanced proficiency in Microsoft Excel and PowerPoint.

Responsibilities

• Participate in the evaluation and execution of public equity capital markets transactions from announcement through settlement.
• Proactively identify emerging equity capital markets opportunities by monitoring issuer activity and market developments.
• Gather, analyze, and synthesize market intelligence on IPOs, follow-on offerings, block trades, and other equity capital markets activity.
• Develop and cultivate trusted relationships with investment bank Equity Capital Markets and Syndicate professionals, as well as financial sponsors.
• Coordinate indications of interest, order communication, and allocation discussions with bookrunners throughout the transaction lifecycle.
• Analyze transaction valuation, pricing, investor demand, allocations, and aftermarket performance to provide investment insights.

Skills

Analytical thinking

Communication

Problem-solving

Team collaboration

Education

Bachelor's degree

Tools

Excel

PowerPoint

Bloomberg

FactSet

Python

SQL

Job description

At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident.

We believe doing the right thing for our clients and our associates is good business. With a career at the firm, you can expect opportunities to create real impact at work and in your community. You’ll enjoy resources to support your career path, as well as compensation, benefits, and flexibility to enrich your life. Here, you’ll find a collaborative culture that respects and values differences and colleagues who share a spirit of generosity.

Join us for the opportunity to grow and make a difference in ways that matter to you.

Role Summary

The Equity Capital Markets Analyst role will support the Head of Equity Capital Markets in identifying, evaluating, and executing public equity capital markets transactions across the firm's investment portfolios. The role encompasses the full spectrum of public equity issuance, including initial public offerings (IPOs), follow-on offerings, block trades, convertible offerings, accelerated transactions, and other public equity financing events.

Partnering closely with portfolio managers, research analysts, traders, investment banks, and financial sponsors, the Junior Trader will serve as a key resource for market intelligence, transaction execution, and relationship management. Success in this role requires developing trusted external relationships, identifying emerging equity capital markets opportunities, and delivering timely market insights that enhance the firm's investment process.

Responsibilities

• Participate in the evaluation and execution of public equity capital markets transactions from announcement through settlement, ensuring timely coordination across internal and external stakeholders.
• Proactively identify emerging equity capital markets opportunities by monitoring issuer activity, ownership changes, lock-up expirations, sponsor monetization trends, and broader market developments, delivering actionable insights to portfolio managers, research analysts, and traders.
• Gather, analyze, and synthesize market intelligence on IPOs, follow-on offerings, block trades, convertible offerings, and other equity capital markets activity, communicating timely insights that support investment decisions and transaction participation.
• Develop and cultivate trusted relationships with investment bank Equity Capital Markets and Syndicate professionals, as well as financial sponsors, to enhance market intelligence, improve access to investment opportunities, and strengthen the firm's position in public equity capital markets.
• Coordinate indications of interest, order communication, and allocation discussions with bookrunners throughout the transaction lifecycle.
• Analyze transaction valuation, pricing, investor demand, allocations, and aftermarket performance to provide investment insights and support future participation decisions.
• Produce regular internal commentary on equity capital markets activity, notable transactions, and emerging market trends for portfolio managers, research analysts, and traders.
• Develop and maintain transaction analytics, including allocation history, participation trends, bank scorecards, aftermarket performance, and other metrics that strengthen the firm's Equity Capital Markets capabilities.
• Maintain accurate transaction records and ensure data integrity across internal systems and reporting processes.
• Identify opportunities to improve workflows, reporting, analytics, and automation to enhance the efficiency and scalability of the Equity Capital Markets function.
• Collaborate closely with portfolio managers, research analysts, traders, legal, compliance, operations, and other internal partners to ensure seamless transaction execution and effective communication.
• Contribute to strategic initiatives that strengthen the firm's Equity Capital Markets platform, expand market relationships, and enhance the investment team's access to differentiated investment opportunities.

Qualifications

Required:

• Bachelor's degree.
• 1–3 years of experience in equity capital markets, investment banking, sales & trading, investment management, equity research, or another related financial services role.
• Demonstrated interest in equity capital markets and public equity investing.
• Strong understanding of financial markets, corporate finance, and equity valuation concepts.
• Excellent analytical, quantitative, and problem-solving skills with the ability to synthesize complex information into actionable investment insights.
• Exceptional organizational skills and attention to detail, with the ability to manage multiple priorities in a fast‑paced environment.
• Strong written and verbal communication skills.
• Demonstrated ability to build and maintain productive relationships with both internal stakeholders and external market participants.
• High level of professionalism, integrity, and sound judgment.
• Self‑motivated, intellectually curious, and eager to continuously learn.
• Advanced proficiency in Microsoft Excel and PowerPoint.

Preferred

• Bachelor's degree in Finance, Accounting, Economics, Mathematics, or a related field.
• CFA designation or progress toward completion; MBA or other advanced degree is a plus.
• Experience evaluating or executing public equity capital markets transactions, including IPOs, follow‑on offerings, block trades, or convertible offerings.
• Experience with Bloomberg, FactSet, Capital Markets Gateway (CMG), or other financial market and equity capital markets platforms.
• Experience with data analysis tools such as VBA, Python, SQL, Power BI, or similar technologies.

Core Competencies

• Equity Capital Markets Knowledge
• Market Analysis & Investment Insight
• Relationship Management
• Communication & Collaboration
• Analytical Thinking
• Attention to Detail
• Initiative & Intellectual Curiosity
• Professional Judgment & Integrity
• Process Improvement & Innovation
• Adaptability

FINRA Requirements

FINRA licenses are not required and will not be supported for this role.

Work Flexibility

This role is eligible for hybrid work, with up to one day per week from home.

Base Salary Ranges

Please review the job posting for the location of this specific opportunity.

$115,000.00-$160,000.00 for the location of: Maryland, Colorado, Washington and remote workers

$115,000.00-$160,000.00 for the location of: Washington, D.C.

$115,000.00-$160,000.00 for the location of: New York, California

Placement within the range provided above is based on the individual’s relevant experience and skills for the role. Base salary is only one component of our total compensation package. Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.

Commitment to Diversity, Equity, and Inclusion

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspectives that move our business priorities forward and enable us to deliver strong client outcomes. Here, you can expect equal opportunity and fair and consistent treatment for all.

Benefits

We value your goals and needs, at work and in life. As an associate, you’ll be supported with resources, benefits, and work-life balance so you can thrive in ways that matter to you.

Featured Employee Benefits To Enrich Your Life

• Competitive compensation
• Annual bonus eligibility
• A generous retirement plan
• Hybrid work schedule
• Health and wellness benefits, including online therapy
• Paid time off for vacation, illness, medical appointments, and volunteering days
• Family care resources, including fertility and adoption benefits

Learn More About Our Benefits.

T. Rowe Price is an equal opportunity employer and values diversity of thought, gender, and race. We believe our continued success depends upon the equal treatment of all associates and applicants for employment without discrimination on the basis of race, religion, creed, color, national origin, sex, gender, age, mental or physical disability, marital status, sexual orientation, gender identity or expression, citizenship status, military or veteran status, pregnancy, or any other classification protected by country, federal, state, or local law.