Morningstar Development Program - Equity Research

Morningstar, Inc.; Chicago (IL); On-site; USD 75,000 - 91,000; Full time

Benefits offered by this job

401k match up to 6%

Stock ownership potential

Company provided life insurance

Job summary

Morningstar, Inc. in Chicago offers a two-year Development Program designed for recent graduates with 0–2 years of experience, rotating through teams in equity research.

The program provides mentoring, practicum opportunities, and exposure to different business areas to foster long-term career growth. You will start as an Associate Equity Research Analyst in the equity track, gaining hands-on experience, training opportunities, and collaboration with a team of researchers in a supportive,

Qualifications

• Bachelor's degree to be completed no later than May 2027
• Please include the word "Resume" in the file name of the resume you upload to your application on the front page
• Highly motivated to succeed in a stimulating environment
• Irrepressible curiosity, with an eagerness to dig deep and explore widely
• Creativity, with a penchant for experimenting with new ways to approach questions and puzzles
• High personal standards for thoroughness and attention to detail
• Strong reasoning skills
• Ability to communicate complex ideas clearly and succinctly

Responsibilities

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

Skills

Curiosity

Creativity

Strong reasoning

Communication

Education

Bachelor's degree

Job description

The Program:

At Morningstar, we want people who are smart, creative, hard-working, curious, and passionate about their work. We hire all majors, including liberal arts, as we appreciate the different perspectives they bring to our company. We built the Morningstar Development Program to prepare recent college graduates for successful, long-term careers here at Morningstar. Throughout this two-year program, you will be placed in a cohort where you'll receive ongoing career development, networking, mentoring, training opportunities, practicum program opportunities, and exposure to different areas of the business to help you succeed at Morningstar. We are accepting applicants with zero to two years of full-time work experience. While we look for individuals who have an interest in investing, we welcome all fields of study.All positions are based in our Chicago office. Within our equity track, you will start as an Associate Equity Research Analyst.

Equity Research:

Morningstar's Research group provides impartial ratings on stocks, funds, markets, and portfolios. Morningstar is one of the largest independent sources of fund, equity, and credit data and research in the world, and our advocacy for investors' interests is the foundation of our company. We believe that our researchers are among the most respected in the industry, and that we offer original, influential, thoughtful, and unbiased research. We offer stimulating career paths and the opportunity to work alongside talented and collaborative teammates.

Job responsibilities:

• Acquire a deep understanding of the companies and industries your team covers by gathering and interpreting relevant research, news, and data.

• Build modeling expertise by helping your teammates develop and maintain company and industry models.

• Develop high proficiency with Morningstar's equity research methodologies and disciplines relevant to equity research, including financial statement analysis and corporate finance.

• Support your team's efforts to publish timely and insightful research updates aimed at broad audience of investors.

• Collaborate with teammates on "deep dive" research that is differentiated, substantiated, and clearly communicated.

• Sharpen your awareness of behavioral biases and embody an "investors first" mindset at all times.

Application Requirements:

• A bachelor's degreeto be completed no later than May 2027

• **Please be sure to include the word "Resume" in the file name of the resume you upload to your application on the front page.

• Highly motivated to succeed in a stimulating environment.

• Irrepressible curiosity, with an eagerness to dig deep and explore widely.

• Creativity, with a penchant for experimenting with new ways to approach questions and puzzles.

• High personal standards for thoroughness and attention to detail.

• Strong reasoning skills.

• Ability to communicate complex ideas clearly and succinctly.

The base salary for this position is $83,000.00

This role will be posted until October 5, 2026.

Compensation and Benefits

At Morningstar we believe people are at their best when they are at their healthiest. That's why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:

• Financial Health

  • 100% 401k match up to 6% of salary

  • Stock Ownership Potential

  • Company provided life insurance - 1x salary + commission

• Physical Health

  • Comprehensive health benefits(medical/dental/vision)including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plansand coverages

  • Additional medical Wellness Incentives - up to $300-$600 annual

  • Company-provided long- and short-termdisabilityinsurance

• Emotional Health

  • Trust-Based Time Off

  • 6-week Paid Sabbatical Program

  • 6-Week Paid Family Caregiving Leave

  • Competitive 8-24 Week Paid Parental Leave

  • Adoption Assistance

  • Leadership Coaching & FormalMentorshipOpportunities

  • Annual Flex Stipend - $1000 annually to cover personal education & well-being expenses

  • Tuition Reimbursement

• Social Health

  • Charitable Matching Gifts program

  • Dollars for Doers volunteer program

  • Paid volunteering days

  • 15+ Employee Resource & Affinity Groups

Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.