Investment Associate Internships
Investment associate internships give university students, recent graduates, and early-career switchers hands-on deal analysis and portfolio work, mentorship from working investment associates, and, at many employers, a path toward a full-time offer. Investment & Asset Management lead the market, with Baird, Truist, and Dodge & Cox among the employers posting roles now.
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Equity Investment Associate Intern
Boston, MA
Pioneer Investments is a diversified asset management firm and a key franchise of Victory Capital Management (VCTR). Founded in 1928, Pioneer currently manages over $125 billion in assets across a wide range of strategies. We are seeking a Credit Research Analyst to join our Corporate Credit Research team.
About Victory Capital:
Victory Capital is a diversified global asset management firm and employs a next-generation business strategy that combines boutique investment qualities with the benefits of a fully integrated, centralized operating and distribution platform.
Victory Capital provides specialized investment strategies to institutions, intermediaries, retirement platforms and individual investors. With 12 autonomous Investment Franchises and a Solutions Business, Victory Capital offers a wide array of investment products and services, including mutual funds, ETFs, separately managed accounts, alternative investments, third-party ETF model strategies, collective investment trusts, private funds, a 529 Education Savings Plan and brokerage services.
Victory Capital is headquartered in San Antonio, Texas, with offices and investment professionals in the U.S. and around the world. To learn more please visit www.vcm.com (http://www.vcm.com) or follow Victory Capital on Facebook (https://nam10.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.facebook.com%2Fvictorycapitalmanagement%2F&data=05%7C02%7Cshall-carger%40vcm.com%7Cecf1f86b6b534ee4f7ec08dcdda41b69%7Cd681f1c4deb2472aa07be455ec360877%7C0%7C0%7C638628944137338095%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=bmGvxUufTD9Ym0hKiRP9XvNz5DqnzDY1Bozw7%2FM6ZIs%3D&reserved=0), Twitter (https://nam10.safelinks.protection.outlook.com/?url=https%3A%2F%2Fx.com%2Fvcmtweets&data=05%7C02%7Cshall-carger%40vcm.com%7Cecf1f86b6b534ee4f7ec08dcdda41b69%7Cd681f1c4deb2472aa07be455ec360877%7C0%7C0%7C638628944137347671%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=Et4MwdklokTt6KfdBlLYiuy0tCoJhyEtxacqWJuOrms%3D&reserved=0), and LinkedIn (https://nam10.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fvictory-capital-management%2F&data=05%7C02%7Cshall-carger%40vcm.com%7Cecf1f86b6b534ee4f7ec08dcdda41b69%7Cd681f1c4deb2472aa07be455ec360877%7C0%7C0%7C638628944137356969%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&sdata=JZC%2FWU1Z%2FlWu2a393UJqkhacnzqD2M7RkQdZRyQMyg4%3D&reserved=0).
General Summary and Purpose:
The Investment Associate Intern assigned to this position will be responsible for assisting and advising the equities portfolio management teams.
You Will:
- Independently and thoughtfully conduct equity research and clearly articulate it.
- Build and maintain complete company models, create income statement and balance sheet forecasts, and perform valuation analysis.
- Convey information verbally and through written notes and reports such as industry reviews, company evaluation analyses, and quarterly company updates.
- Frequent and informal communication with portfolio managers on their holdings.
- Initiate and maintain contacts with company managements.
- Assist DoR in developing and implementing artificial intelligence tools across the equity team.
You Have:
- Experience with artificial intelligence tools and advanced database skills required
- Strong analytical skills and commitment to in depth analysis with extreme attention to details and precision
- Ability to communicate effectively
- Passion for investing
- Strong problem-solving skills are a critical factor of success for the position
- Ability to collaborate with all members of the investment management staff
- Proficiency with Excel and Bloomberg
Our Benefits:
Victory Capital Management offers excellent Medical, Dental, Vision plans, Flexible PTO, Family Medical and Disability Leaves, Education Tuition Reimbursement and a 401k plan with a generous employer match.
Target Compensation:
The target base salary range for this position is $22/hr
Salaries are determined based on internal equity, internal salary ranges, market data/ranges, applicant’s skills and prior relevant experience, certain degrees, and certifications.
Victory Capital Management operates a pay-for-performance compensation philosophy and total compensation may vary based on role, location, department and individual performance.
Victory Capital Management’s total compensation package includes the opportunity for annual compensation bonuses and/or commissions and a generous benefits package.
We are committed to equal employment opportunity without regard to actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, pregnancy-related conditions, and lactation), gender identity or expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, genetic information, height, weight, hair texture or a hairstyle historically associated with race to include braids, locks, or twists; or any other characteristic protected by applicable federal, state, or local laws and ordinances.
Equal Opportunity Employer
This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights (https://www.eeoc.gov/poster) notice from the Department of Labor.
Investment Associate Internship Market
Who's Hiring
Top Industries Hiring
- Investment & Asset Management
Tips for Your Investment Associate Internship Search
Apply in the fall for summer investment associate roles
Large financial institutions and asset managers open summer intern applications as early as August and September for the following year. Smaller boutique firms and co-ops post closer to their start dates. Check listings through the fall rather than waiting until spring, when many structured programs have already closed.
Build a project portfolio before you send your first application
Investment associate hiring teams want something concrete to assess. Build two or three documented projects, such as a discounted cash flow model, a comparable company analysis, or a written investment thesis, and make them accessible via a linked portfolio or PDF. Coursework projects count if you document the methodology and tools you used.
Work your campus network and apply directly at the same time
Campus career fairs surface structured programs tied to your university, and recruiters there often move faster for students they meet in person. Your professors and career center staff frequently know which firms recruit from your school before roles post publicly. Applying directly to smaller firms running their own cohorts alongside campus activity widens the pool you reach.
Practice your technical screen out loud before you apply
Investment associate intern interviews typically include a financial modeling exercise, a valuation question, or a case study where you walk through your reasoning in real time. Practice explaining your approach out loud, not just writing it down, since interviewers weigh how you think through a problem as much as the final answer.
Target structured summer analyst programs early and apply in the first wave
Many large banks and investment firms run formal summer analyst programs built to train people new to the field. These cohorts recruit months ahead of the internship start date and fill fast once applications open. Identify the programs that match your background and submit in the first wave rather than waiting to see if other options come through.
Set your work-type filter before you start searching
On-site roles are 33% of the investment associate internships listed here. Decide what you can realistically commit to before you start applying, then filter by location and work type so you're not sorting through roles you can't accept. Migrate Mate lets you filter by work type directly so you see only the listings that fit your situation.
Investment Associate Internships: Frequently Asked Questions
How do I get an investment associate internship?
Lead with coursework and completed projects rather than work history, since hiring teams expect limited experience at the intern level. For investment associate candidates, the concrete artifact is a documented financial model, valuation analysis, or investment memo with your methodology visible. Combine direct applications with campus career fairs, where recruiters often move faster for students they meet in person.
Can an investment associate internship turn into a full-time job?
Many employers extend return offers to strong interns, but conversion is never guaranteed. What drives it for investment associate interns is consistent performance on real deal work, available headcount on the team, and how early return-offer decisions are made. Position yourself by delivering quality work and building relationships without counting on the outcome.
When should I apply for investment associate internships?
Earlier than most candidates expect. Large financial firms and asset managers recruit summer interns the preceding fall, often closing cohorts before spring semester starts. Smaller companies, boutique firms, and co-op programs post closer to their start dates, so openings appear year-round. Check listings regularly rather than waiting for a single recruiting season.
Are investment associate internships paid?
Most professional investment associate internships in the United States are paid. Compensation varies by company size, industry, and location. Listings show pay where the employer discloses it, so you can compare opportunities directly as you apply.
What should an investment associate internship resume include?
Lead with projects, not work history. Include two or three complete, documented projects showing the financial models, valuation frameworks, or investment analyses you built, the tools you used, and where to see the work, such as a linked portfolio or case study. Add relevant coursework in finance, accounting, or economics and keep the resume to one page.
Are there remote investment associate internships?
Yes. Remote and hybrid roles make up 67% of the investment associate internship listings here, with the rest on-site. Remote cohorts fill fast, so apply early and filter by work type to see them before they close.
What is a summer analyst internship in investment associate roles?
Summer analyst programs are structured cohort internships at banks, private equity firms, and asset managers designed for rising juniors and seniors new to the field. They run eight to ten weeks, pair interns with deal teams, and recruit heavily in the fall for the following summer. These programs are competitive and fill in the first wave of recruiting, so apply as soon as applications open.
Can international students get investment associate internships?
Yes. F-1 students can intern through CPT while enrolled or through OPT work authorization after finishing a degree, and the employer does not have to file anything for either, so many companies are open to international interns. Confirm your eligibility and timing with your university's international student office before accepting an offer.
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