📍
Madrid, Spain

2026 Investment Management Off-cycle Internship - Real Estate Investing (Madrid)

Internship
Finance
Finance
Posted:
December 28, 2025

Morgan Stanley

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

In the Investment Management division, we deliver active investment strategies across public and private markets and custom solutions to institutional and individual investors.

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.

PLACEMENT AND DURATION



Morgan Stanley Investment Management (MSIM), together with its investment advisory affiliates, has about $1.4 trillion in assets under management or supervision. With 1,343 investment professionals worldwide, and 54 offices in 25 countries, Morgan Stanley Investment Management is able to provide in-depth local knowledge and expertise while channelling the strength of our global presence and resources. To support the delivery of tailored, value-added investment solutions to clients our investment teams are organized by capability: Solutions & Multi-Asset, Real Assets, Active Fundamental Equity, Private Credit & Equity, Global Fixed Income, and Global Liquidity. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

Morgan Stanley Real Estate Investing (REI) is Morgan Stanley's integrated global real estate practice. We are the world's leading global real estate investment manager with over $60 billion in real estate assets under management across core, value-added and opportunistic investment vehicles. REI acquires properties, operating companies, and real estate backed departments on a global scale on behalf of our institutional investors.

The Off-Cycle Internship is an opportunity to experience the culture and atmosphere in the Investment Management Division by taking on some of the responsibilities and functions of a Full-time Analyst for a short period. This internship will offer you an exciting and a dynamic work environment where you get to work alongside our diverse group of experienced professionals. The work that you do will be interesting and varied.

The internship will commence in January 2026 and typically lasts six months but can vary in length depending on business needs and candidate availability.



TRAINING PROGRAM



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



RESPONSIBILITIES



Collecting and synthesizing financial and operating information about potential investment opportunities and industries
Creating 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
Attending team discussions and partner meetings, where you may be asked to deliver parts of a presentation

QUALIFICATIONS/ SKILLS/ REQUIREMENTS



You will have to be graduated by Dec 2025 and be able to commit for a full-time internship role for six months
Fluency in English and in the local language based on the location you are applying for
Ability to analyse and interpret complex information quickly and accurately
Strong aptitude for numbers
Ability to communicate complex ideas clearly and succinctly
Temperament that thrives under pressure and changing situations
Strong analytical and numerical skills that put you at ease with financial data
Results-driven and able to perform well under pressure and against tight deadlines
Proven team player with the ability to manage a wide range of responsibilities.
Committed to excellence in your work and maintain high professional and ethical standards

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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