Morningstar

Investment research & data provider
Last updated:
January 6, 2026
Company details
HQ
Chicago, IL
HEADCOUNT
10000+
ORG TYPE
Corporate
SECTOR
Professional Services
About the company
Morningstar provides independent investment insights, data, ratings, and software used by individual investors and institutions. The company also runs products and businesses such as PitchBook, Sustainalytics, and DBRS Morningstar alongside Morningstar-branded research and analytics. Morningstar serves financial advisors, asset managers, institutional investors, and fintech teams building investor-facing products. The company is headquartered in Chicago and operates globally.
Locations and presence
Morningstar operates across 40-plus offices worldwide, with a major hub in Chicago and a long list of regional offices across North America, Europe, and Asia-Pacific. Many roles follow a hybrid setup with regular in-office collaboration, commonly framed as at least three days per week, with some postings indicating four days in-office in most locations.
Palpable Score
76.4
/ 100
Morningstar offers clear, recurring early-career entry points through both internships and a structured two-year graduate program, with plenty of detail on mentoring, training, and early ownership of work. Hiring transparency is better than average because the company publishes a process outline and promises closure, but candidate feedback suggests the experience can be inconsistent. Pay looks broadly market-aligned for early roles and internships, yet public salary-range transparency and outcomes data like conversion rates and retention are limited.
Pillar 1: Early-career access

Score

17.0
/ 20
  • The company promotes the Morningstar Development Program as a two-year, full-time placement for recent graduates spanning groups such as investment management, data, tech, and research.
  • Morningstar runs recurring internships, including a broad summer internship program and dedicated campus technology internship tracks.
  • The company explicitly frames internships and early roles as a leadership pipeline and recruits students for both internship and full-time opportunities across multiple functions.

Pillar 2: Hiring fairness and transparency

Score

13.8
/ 20
  • The company publishes a “Recruitment Journey” that sets expectations on stages like online application, HR screening, and one or more team interview rounds, with role-based assignments signposted early.
  • Morningstar states that non-finalists can expect a feedback email, which sets a baseline expectation for closure rather than silent rejection.
  • The company has mixed public candidate reports mentioning long timelines and communication gaps, which lowers confidence that the published process plays out consistently across teams.

Pillar 3: Learning and support

Score

17.0
/ 20
  • The company describes the Morningstar Development Program as cohort-based with ongoing career development, networking, mentoring, training, and practicum or apprenticeship-style opportunities over two years.
  • Morningstar’s student careers content highlights a structured mentorship approach plus career-development workshops and stand-alone projects designed to build skills early.
  • The company offers formal continuing-education support via an annual education stipend and a Scholars tuition reimbursement program, which can fund learning beyond day-to-day work.

Pillar 4: Pay fairness and stability

Score

13.8
/ 20
  • The company offers paid internships, with public pay reporting for US intern roles clustering around roughly the low-to-mid $20s per hour depending on role and source.
  • Morningstar shows stable, market-referenced compensation levels on major pay aggregators for common early-career roles, but public job-by-job salary ranges are not consistently visible across postings.
  • The company has some negative public pay-fairness sentiment in Q&A and reviews, including complaints about how pay decisions are explained, which caps this pillar.

Pillar 5: Early-career outcomes

Score

14.8
/ 20
  • The company states that Morningstar Development Program alumni move into roles across sales, marketing, tech, and investment research, with eventual leadership progression cited as a pathway outcome.
  • Morningstar showcases early-career alumni outcomes through associate-level roles and class-year examples on the student careers page, paired with messaging about early ownership and internal mobility.
  • The company does not publish key outcomes data such as internship-to-offer conversion rates, post-program placement rates by track, or early-career retention metrics, which limits how high this pillar can go from public evidence.

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