📍
London, UK

2026 Investment Banking Off-Cycle Internship (London)

Internship
Finance
Finance
Posted:
December 28, 2025

Morgan Stanley

Investment banking and financial services
75.6
Palpable Score
Apply >view company >

In the Investment Banking division, we offer Global expertise in market analysis and in advisory and capital-raising services for corporations, institutions, and governments.

Since 1935, Morgan Stanley is known as a global leader in financial services, continuously evolving and innovating to better serve our clients and our communities in more than 40 countries around the world.

The Investment Banking Off-Cycle Internship is an opportunity to experience the culture and atmosphere in the Investment Banking Division (IBD) by taking on some of the responsibilities and functions of a Full-Time Analyst for a short period. The internship will typically start in January or August and lasts 5 months, but can vary in length depending on business needs and candidate availability. You will spend your internship assigned to a specific group in a specific region, building basic skills in financial analysis, accounting, and valuation, while working on a wide range of domestic and international transactions.

Training Program



You will receive on-the-job training and benefit from working alongside experienced professionals on a variety of projects.



Role and Responsibilities



• Gathering and synthesising financial and operating information about companies, industries, and governments.
• Creating and updating financial models.
• Gathering market data to analyse trends and help value and price transactions.
• Drafting presentations and memoranda for a wider audience within the Firm and the financial services industry.
• Attending team discussions and client meetings, where you may be asked to deliver parts of a presentation.



Qualifications and Skills



• You have strong analytical and numerical skills that put you at ease with financial data.
• You are results-driven, and perform well under pressure and against tight deadlines.
• You are a proven team player and can manage a wide range of responsibilities.
• You have an excellent academic background and fluency in English
• Ability to communicate effectively in multiple languages is an advantage.
• You articulate complex ideas simply and summarise them effectively.
• You are committed to excellence in your work and maintain high professional and ethical standards.



Application Deadline


The application deadline for this position is Sunday 26th October 2025. We recruit on a rolling basis so application is encouraged as soon as possible. We aim to review all applications within a timely manner, however our response times may vary due to high volumes. Please be assured that you will receive an update via email as soon as a decision on your application has been reached, and kindly note we are unable to accommodate any requests to accelerate the timelines of our application process. Please note that all assessment centres will be held in London.

About the company

Morgan Stanley

Company overview
Morgan Stanley is a global financial services firm offering investment banking, sales and trading, wealth management, and investment management. Morgan Stanley works with corporations, governments, institutions, and individuals to raise capital, manage investments, and run financial strategies. The company also operates a large wealth management business serving individual clients and financial advisors. Morgan Stanley has expanded through major acquisitions in wealth and investment management and now runs across public and private markets.

Locations and presence

Morgan Stanley is headquartered in New York and runs offices across the Americas, Europe, the Middle East and Africa, Asia-Pacific, and Japan. Public careers pages list locations and teams globally, but do not set out a single, firmwide statement on on-site, hybrid, or remote expectations for early-career roles.

Palpable Score

75.6
/ 100
Morgan Stanley provides multiple ways in for students and new graduates, including large seasonal internship funnels plus structured development programmes in wealth management and branch operations. Morgan Stanley also publishes clearer hiring stages for some early-career tracks than most large banks, and backs early careers with training and benefits. Outcomes are mixed in public signals: there are credible stories of intern-to-full-time conversion and progression, alongside widely reported firmwide layoffs and limited published data on early-career retention or conversion rates.
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