πŸ“
New York, NY

2026 Investment Banking Summer Associate Program (Real Estate)

Internship
Finance
Finance
Posted:
December 28, 2025

Morgan Stanley

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

Morgan Stanley is a worldwide leader in investment banking. We are one of the top firms in mergers & acquisitions (M&A), underwriting of equity transactions, corporate debt issuance, and high-yield debt financing. With professionals in 30 countries, we are consistently recognized for our performance in traditional and innovative financing solutions, helping clients around the world to make decisions about their business strategy and financial structure.

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Role and Responsibilities

Summer Associates in the Real Estate Banking Group work exclusively in that practice which covers a diverse set of REITs, commercial property/lodging companies, developers and real estate private equity fund managers. The Real Estate Banking group operates as a global team involved in sourcing and executing a broad range of public and private capital markets and M&A/strategic advisory transactions. The group executes all its own M&A/advisory transactions, without the use of generalist M&A professionals, which provides team members with the opportunity to develop strong analytical and technical skills and to gain significant transaction execution experience. Β Summer Associates have the opportunity to work on all transaction types with significant exposure to senior investment bankers in the group.

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Role and responsibilities of a Summer Associate vary but may include:

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Qualifications/ Skills/ Requirements

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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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