Investment Internships
Investment internships give university students, recent graduates, and early-career switchers hands-on project experience working alongside working investment analysts and portfolio professionals, and, at many employers, a path toward a full-time offer. Openings are concentrated across Accounting & Auditing, Technology & Software, and Construction & Real Estate, with Marcus & Millichap, ComCap Holdings, and KeyBank among the employers posting roles now.
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The application period will be open until November 15, 2026. Interviews will begin November 30, 2026.
Role Overview
The Summer Associate program is a ten-week internship opportunity for 2029 graduates. Like Dodge & Cox's full-time Research Associates, Summer Associates work directly alongside one of our investment professionals in an apprenticeship role. Organized on an industry basis, teams evaluate investments in companies located around the world. Over the course of the internship, Summer RAs rotate between industry teams to evaluate current and potential investment opportunities.
Dodge & Cox's well-established reputation often leads companies to seek us out as investors. We routinely host Fortune Global 500 executives at our offices in San Francisco. The Summer Investment program targets candidates with exceptional levels of academic achievement from various disciplines.
Key Responsibilities
- Collecting and analyzing financial and industry data and metrics
- Building and maintaining financial models and databases
- Attending meetings with senior management teams and sell-side analysts
- Participating in weekly training sessions
Ideal Candidate Profile
- Demonstrated interest in financial markets and investing
- Initiative and ability to manage multiple projects simultaneously
- Excellent communication skills and desire to work in a team-oriented environment
- Intellectually curious with a genuine appetite for understanding businesses and industries in depth
- Detail-oriented and conscientious, producing analysis of exceptional quality
- Coachable and eager to learn, able to absorb feedback and build independent judgment over time
- Poised and professional in meetings with company management teams and sell-side analysts
Qualifications
- Matriculating between December 2028 and June 2029
- An excellent academic record
- Coursework in accounting and economics; statistics is a plus
- Strong quantitative and analytical skills, including experience with Excel, PowerPoint, and Word
- Coursework or demonstrated experience in corporate finance or valuation is a plus
- Familiarity with AI tools (e.g., Claude, Copilot) and willingness to apply them to research workflows
Requirements
- Dodge & Cox has a 4:1 hybrid work model, and all Dodge & Cox interns are required to be in their assigned office as noted in the job posting Monday - Thursday each week, with the option to work remotely on Friday.
The monthly compensation for this position is $10,000. Dodge & Cox provides a relocation package or optional housing for all summer interns.
The job description above is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. It is the Company’s policy to provide equal opportunity to all persons without regard to race, color, religion, sex, pregnancy, marital or domestic partner status, sexual orientation, gender identity or expression, age, ancestry, national origin, disability, or medical condition, as defined in state and federal laws. This policy covers all aspects of employment including, but not limited to, recruitment, selection, training, promotion, transfer, compensation, demotion, and termination. By applying for a position with Dodge & Cox, you acknowledge that you have read our EEO Policy
All Dodge & Cox employees must adhere to the Firm’s security policies and Code of Ethics. Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
The application period will be open until November 15, 2026. Interviews will begin November 30, 2026.
Role Overview
The Summer Associate program is a ten-week internship opportunity for 2029 graduates. Like Dodge & Cox's full-time Research Associates, Summer Associates work directly alongside one of our investment professionals in an apprenticeship role. Organized on an industry basis, teams evaluate investments in companies located around the world. Over the course of the internship, Summer RAs rotate between industry teams to evaluate current and potential investment opportunities.
Dodge & Cox's well-established reputation often leads companies to seek us out as investors. We routinely host Fortune Global 500 executives at our offices in San Francisco. The Summer Investment program targets candidates with exceptional levels of academic achievement from various disciplines.
Key Responsibilities
- Collecting and analyzing financial and industry data and metrics
- Building and maintaining financial models and databases
- Attending meetings with senior management teams and sell-side analysts
- Participating in weekly training sessions
Ideal Candidate Profile
- Demonstrated interest in financial markets and investing
- Initiative and ability to manage multiple projects simultaneously
- Excellent communication skills and desire to work in a team-oriented environment
- Intellectually curious with a genuine appetite for understanding businesses and industries in depth
- Detail-oriented and conscientious, producing analysis of exceptional quality
- Coachable and eager to learn, able to absorb feedback and build independent judgment over time
- Poised and professional in meetings with company management teams and sell-side analysts
Qualifications
- Matriculating between December 2028 and June 2029
- An excellent academic record
- Coursework in accounting and economics; statistics is a plus
- Strong quantitative and analytical skills, including experience with Excel, PowerPoint, and Word
- Coursework or demonstrated experience in corporate finance or valuation is a plus
- Familiarity with AI tools (e.g., Claude, Copilot) and willingness to apply them to research workflows
Requirements
- Dodge & Cox has a 4:1 hybrid work model, and all Dodge & Cox interns are required to be in their assigned office as noted in the job posting Monday - Thursday each week, with the option to work remotely on Friday.
The monthly compensation for this position is $10,000. Dodge & Cox provides a relocation package or optional housing for all summer interns.
The job description above is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. It is the Company’s policy to provide equal opportunity to all persons without regard to race, color, religion, sex, pregnancy, marital or domestic partner status, sexual orientation, gender identity or expression, age, ancestry, national origin, disability, or medical condition, as defined in state and federal laws. This policy covers all aspects of employment including, but not limited to, recruitment, selection, training, promotion, transfer, compensation, demotion, and termination. By applying for a position with Dodge & Cox, you acknowledge that you have read our EEO Policy
All Dodge & Cox employees must adhere to the Firm’s security policies and Code of Ethics. Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
Investment Internship Market
Who's Hiring
- Marcus & Millichap37
- ComCap Holdings5
- KeyBank4
- Allianz3
- AES Corporation3
Top Industries Hiring
- Accounting & Auditing
- Technology & Software
- Construction & Real Estate
- Banking & Financial Services
- Investment & Asset Management
Tips for Your Investment Internship Search
Apply in fall for the following summer
Large asset managers, investment banks, and private equity firms open summer intern applications in September and October and close them before the new year. If you wait until spring, most structured programs are already full. Set a calendar reminder and treat fall recruiting as your primary window.
Build a portfolio before you apply
Investment hiring teams want proof you can do the work, not just that you studied it. Document two or three projects, whether a stock pitch, a discounted cash flow model, or a written investment memo, naming the tools you used, the assumptions you made, and where to find the finished output. That artifact gives recruiters something concrete to assess.
Work campus and direct applications together
Campus career fairs surface structured programs tied directly to your university, and professors or career center advisors often know which firms recruit from your school before roles post publicly. Apply directly to smaller firms and regional advisors running their own cohorts at the same time, since those employers rarely appear at campus events but actively hire interns year-round.
Practice your investment interview format out loud
Investment intern screens typically involve a stock pitch, a valuation or modeling exercise, or a case discussion where interviewers weigh how you structure a problem as much as your final answer. Practice walking through your reasoning aloud before the interview, not just in your head, so the explanation sounds clear and deliberate under pressure.
Target structured summer analyst programs early
Major banks, asset managers, and private equity firms run cohort programs designed to train investment interns from the ground up, placing them on live deal or research teams for the duration. These programs recruit early, fill in the first application wave, and carry the clearest path to a return-offer conversation. Identify the ones that match your target sector and apply before the first deadline.
Set your work-type filter before you start
On-site roles are 44% of the investment internships listed here. Decide whether you can relocate or commute to a financial center before you start searching, then filter by location and work type so you are not spending time on roles you cannot accept.
Investment Internships: Frequently Asked Questions
How do I get an investment internship?
Lead with coursework and personal projects rather than work history, since hiring teams expect limited experience at the intern level. For investment candidates, the concrete artifact recruiters want to see is a documented financial model, investment memo, or portfolio analysis showing your tools and methodology. Combine direct applications with campus career fairs, where recruiters often move faster for students they meet in person.
Can an investment internship turn into a full-time job?
Many employers extend return offers to strong interns, but conversion is never guaranteed. For investment interns, what actually drives it is performance on live deal work or portfolio tasks, available headcount on the team, and how early return-offer decisions are made. Position yourself by delivering on real assignments without counting on a standing offer.
When should I apply for investment internships?
Earlier than most candidates expect. Large banks, asset managers, and private equity firms recruit summer interns the preceding fall, often closing applications before winter. Smaller firms, regional advisors, and co-op programs post closer to their start dates, so openings appear year-round. Checking regularly and applying as soon as a role goes live gives you a real advantage.
Are investment internships paid?
Most professional investment internships in the United States are paid. Compensation varies by company size, sector, and location, with larger financial institutions generally offering more structured packages. Listings show pay where the employer discloses it, so you can compare directly when that information is available.
What should an investment internship resume include?
Lead with projects, not work history. Include two or three fully documented projects that show the tools you used and where to see the output, whether that is a published financial model, a written investment thesis, or a case study with a clear recommendation. Add relevant coursework in finance, accounting, or economics, keep the whole document to one page, and put your strongest project first.
Are there remote investment internships?
Yes. Remote and hybrid roles make up 56% of the investment internship listings here, with the rest on-site. Remote cohorts fill quickly once posted, so apply early and use the work-type filter to see only the format that fits your situation.
What is a summer analyst investment internship?
Summer analyst programs are structured internship cohorts at banks, asset managers, and private equity firms built specifically to train people entering investment roles for the first time. They run for eight to twelve weeks, assign interns to live deal teams or research desks, and recruit early in the fall preceding the summer. Competition is high, so identify the programs that match your target sector and apply in the first application window.
Can international students get investment 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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