Intern - Quantitative Research, Principal Asset Allocation (Undergrad or Graduate - Summer 2027)

Principal Financial Group; New York, Des Moines (NY, IA); On-site; USD 40,000 - 55,000; Full time

Benefits offered by this job

Lump-sum stipend

Internship program

Job summary

Principal Asset Management, a subsidiary of Principal Financial Group, invites applications for the Summer 2027 Quantitative Analyst Intern role in New York City. You will support research and portfolio analysis across global equities, fixed income, currencies, and commodities, collaborating with the investment team.

You will leverage Python and SQL, conduct backtesting and risk analysis, and help enhance data-driven workflows.

Qualifications

• Pursuing a Bachelor’s, Master’s, or PhD in a quantitative field (e.g., Financial Engineering, Finance, Economics, Mathematics, Statistics, CS)
• Proficiency in Python; familiarity with SQL
• Strong interest in quantitative investing and global macro/multi-asset strategies
• Strong analytical and problem-solving skills with the ability to work with large datasets
• Availability to work full-time and onsite in New York City, NY or Des Moines, IA during Summer 2027

Responsibilities

• Conduct quantitative research and analyze financial and macroeconomic data
• Support development, testing, and evaluation of systematic investment signals and portfolio models
• Perform backtesting, performance attribution, risk analysis, and portfolio diagnostics
• Work with large financial datasets and help improve research workflows
• Summarize research findings and present results to portfolio managers and investment team members

Skills

Python

SQL

Quantitative research

Data analysis

Large datasets

Communication skills

Education

Bachelor's/Master's/PhD in a quantitative field

Tools

Bloomberg

FactSet

Job description

What You'll Do

This Summer 2027 Quantitative Analyst Intern will support quantitative research and portfolio analysis for systematic multi-asset investment strategies. The intern will work closely with the investment team on research, data analysis, model evaluation, and portfolio analytics across global equities, fixed income, currencies, and commodities. Key responsibilities may include:

• Conducting quantitative research and analyzing financial and macroeconomic data
• Supporting the development, testing, and evaluation of systematic investment signals and portfolio models
• Performing backtesting, performance attribution, risk analysis, and portfolio diagnostics
• Working with large financial datasets and helping improve research and analytical workflows
• Summarizing research findings and presenting results to portfolio managers and investment team members

Principal Asset Management, a subsidiary of Principal Financial group, offers global asset management expertise across a diverse set of traditional and alternative asset classes. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years! Check us out at www.principalam.com.

Who You Are

• Currently pursuing a Bachelor’s, Master’s, or PhD degree in Financial Engineering, Finance, Economics, Mathematics, Statistics, Computer Science, or a related quantitative field
• Proficiency in Python; familiarity with SQL
• Strong interest in quantitative investing, financial markets, and global macro/multi-asset investment strategies
• Strong analytical and problem-solving skills, with the ability to work with large and complex datasets
• Availability to work full-time and onsite in New York City, NY, or Des Moines, IA during Summer 2027

Skills That Will Help You Stand

• GPA of 3.5 or higher
• Previous internship, research, or project experience related to investments, quantitative research, asset management, or financial markets
• Familiarity with financial derivatives (e.g., options and futures) and an understanding of how they are used to manage risk and support investment decisions
• Chartered Financial Analyst (CFA) candidate
• Experience with Bloomberg, FactSet, or similar financial data platforms
• Experience conducting quantitative research and backtesting investment strategies, particularly strategies involving futures, forwards, or other derivatives
• Familiarity with statistical analysis, time-series analysis, or quantitative modeling
• Strong written and verbal communication skills, including the ability to clearly communicate quantitative research and investment insights
• Candidates with advanced quantitative coursework or relevant research/project experience are especially encouraged to apply

Salary Range Information

Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.

Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)

$29 - $40 / hour

Salary Details

The following locations are examples of market-specific salary ranges across different geographies.

• Des Moines, IA: $29/hr
• New York City, NY: $40/hr

Time Off Program

Paid company holidays and any time off required in your state.

Pension Eligible

No

Location(s)

This internship will be located at our New York City, NY, offices. Check out what our global headquarters looks like here:

Our Internship Culture

Join an established program that provides hands-on experiences for 200+ interns each year! You'll learn new skills with dedicated teams and mentors, build your professional network and collaborate across a global Fortune 500 company. We care about offering you diverse experiences and exciting challenges that push you to reach for bigger life goals, all while enjoying our flexibility and work life balance. Join us for events such as our Executive Speaker Series, gain career direction, and much more! https://www.principal.com/about-us/careers/internships

Internship

You will receive a lump sum stipend of $4,000. This amount is intended to support incidental expenses you may incur as part of your internship. The Company will provide a tax gross-up on this stipend as a financial benefit, but is not intended to compensate for all tax liabilities.

Work Authorization/Sponsorship

At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.

Nonimmigrant Workers and Green Card for Employment-Based Immigrants

Investment Code of Ethics

For Principal Asset Management positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.

Experience Principal

At Principal, we value connecting on both a personal and professional level. Together, we’re imagining a more purpose-led future for financial services – and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our interns.

Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!

Principal Asset Management, a subsidiary of Principal Financial group, offers global asset management expertise across a diverse set of traditional and alternative asset classes. Check us out at www.principalam.com!

Principal is an Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.