Morningstar Development Program - Wealth

Morningstar Credit Ratings, LLC; Chicago (IL); Hybrid; USD 60,000 - 80,000; Full time

Benefits offered by this job

401k match

Stock ownership potential

Life insurance

Health benefits

Tuition reimbursement

Mentorship programs

Parental leave

Volunteer days

Education stipend

Wellness programs

Flexible work options

Job summary

Morningstar Development Program (MDP) – Wealth Chicago invites recent graduates to a two-year program designed to build expertise in investment research and client service. You will join a cohort with structured training, mentorship, and growth opportunities while supporting Wealth initiatives and advisor relationships.

The role blends analytics with relationship management, offering exposure to Morningstar’s investment solutions, portfolio insights, and cross-functional collaboration within a

Qualifications

• Undergraduate degree in finance, economics, business, or related field preferred; all majors welcome.
• Strong critical thinking and writing skills to synthesize information and form clear ideas.
• Foundational knowledge of investing through coursework, internships, or personal interest.
• Strong communication skills and comfort with client-facing interaction.
• Working knowledge of Excel (filters, pivot tables, formulas) and ability to verify AI-generated output.
• Demonstrated ability to learn new tools quickly; experience using AI tools is a plus.
• Leadership and initiative shown through school, work, or extracurriculars.

Responsibilities

• Support the Wealth team’s key initiatives across data analytics and client service.
• Pull, analyze, and synthesize data to inform team decisions and client conversations.
• Support advisor and client relationships through follow-up, materials preparation, and responsive communication.
• Collaborate with cross-functional partners to learn how the Wealth business operates.
• Adhere to compliance, regulatory, and company policies and procedures.

Skills

Critical thinking

Strong writing

Client-facing

AI tools

Leadership

Education

Undergraduate degree

Tools

Excel

AI tools

Job description

Morningstar Development Program (MDP) – Wealth Chicago | 2027 Cohort

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, because we value the different perspectives they bring. We built the Morningstar Development Program (MDP) to prepare recent graduates for successful, long-term careers here. Throughout this two-year program, you will join a cohort and receive ongoing career development, networking, mentoring, and training to help you succeed. We are accepting applicants with less than two years of full-time work experience. We look for people with an interest in investing, and we welcome all fields of study. All positions are based in our Chicago office.

The Role

As an MDP in the Wealth Track, you will work at the intersection of investment research and client service. You’ll partner with advisors and wealth management organizations to help them better understand and implement Morningstar’s investment and portfolio solutions. This role combines analytical problem-solving with relationship-building, giving you the opportunity to influence client outcomes while developing deep knowledge of financial markets and wealth management practices. As part of a larger Wealth team, you will support key business initiatives while participating in the program’s structured training, mentorship, and professional development opportunities designed to accelerate your growth as a future leader.

Job Responsibilities

• Support the Wealth team’s key business initiatives across data analytics and client service
• Pull, analyze, and synthesize data and reports to inform team decisions and client conversations
• Support advisor and client relationships through follow-up, materials preparation, and responsive communication
• Collaborate with cross-functional partners to learn how the Wealth business operates
• Adhere to compliance, regulatory, and company policies and procedures

Requirements

• Undergraduate degree in finance, economics, business, or a related field preferred; all majors welcome
• Strong critical thinking and writing skills, with the ability to synthesize information and form clear ideas
• Intellectual curiosity, adaptability, and a willingness to take on new challenges
• Foundational knowledge of investing (for example, how stocks and ETFs work) through coursework, internships, or personal interest
• Strong communication skills and comfort with client-facing interaction
• Working knowledge of Excel (filtering, pivot tables, formulas) and the ability to verify AI-generated output
• Demonstrated ability to learn new tools quickly; experience using AI tools is a plus
• Leadership and initiative, shown through school, work, or extracurriculars
• A resume is required to apply. Please include the word "Resume" in the file name.

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 plans and coverages
• Additional medical Wellness Incentives - up to $300-$600 annual
• Company-provided long- and short-term disability insurance
• 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 & Formal Mentorship Opportunities
• 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.

Applicants With Disabilities Need Accommodation

Morningstar is committed to working with and providing reasonable accommodation to individuals with disabilities. If, because of a medical condition or disability, you need a reasonable accommodation for any part of the employment process, please call [phone] or email [e-mail] and let us know the nature of your request and your contact information. Please note: We only accept calls from applicants who need accommodation related to a disability. Please, no calls with unrelated questions or requests. Please be sure to include the title and location of the open position you’re interested in when you leave a message.

US Applicants

Morningstar is an E-Verify program participant. Learn more: This Organization Participates in E-Verify (English) This Organization Participates in E-Verify (Spanish) Right to Work (English) Right to Work (Spanish).

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Morningstar is strongly committed to creating and preserving equal opportunity for all employees and applicants. We make all employment decisions—including recruitment, hiring, compensation, training, promotion, transfer, discipline, termination, and other personnel matters—without regard to race, color, ancestry, religion, sex, national origin, age, disability, protected veteran status, marital status, sexual orientation, genetic information, citizenship, gender identity and expression, parental status, or other legally protected characteristics or conduct.