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	Your Opportunity as a Summer Associate in Public Finance

An overview of this program’s objectives and how you can benefit

Morgan Stanley's Public Finance Group lies within the Fixed Income Division and covers a diverse range of sophisticated clients including state and local governments; hospitals and healthcare institutions; not-for-profit institutions such as major universities and colleges, museums and cultural institutions; water and power utility systems (municipal and corporate); student loan agencies; state and local housing finance agencies, airports, transit agencies and highway systems.

The Public Finance Group brings policy, industry, and regional and product expertise to government, institutional, and corporate clients to develop and execute innovative, customized solutions to their most challenging financial issues.  Public Finance investment bankers provide their clients with services that include the structuring and execution of tax-exempt and taxable securities public offerings, structured products and derivative solutions, as well as financial and strategic advice.

The Summer Associate Program in Public Finance
How the program works and the day-to-day experience you can expect

Summer Associates joining Public Finance will participate in a ten-week program alongside Sales & Trading Summer Associates.  Our Summer Associates are treated as a top priority because we know they will produce the future full-time Associates classes. Summer Associates have the opportunity to develop and master the analytical, quantitative, and interpersonal skills they will need for consideration for our full-time opportunities.

The intensive ten-week Public Finance Program offers placement in either New York or San Francisco and is designed to provide a realistic view of our businesses by having Summer Associates assume the functions of full-time Associates.  Public Finance Summer Associates will have the opportunity for placement in one group during the summer allowing for a deep-dive into a particular product and function.  Summer Associates in the Public Finance Group will be an integral member of the investment banking coverage team for one of the above areas and will collaborate with full-time employees to develop structuring, cash flow financial models, and draft presentation materials, memos and proposals to generate new business and communicate complex ideas and solutions with potential and existing clients. 

Summer Associates will receive continuing on-the-job training and benefit from working alongside experienced professionals on meaningful projects.  The program typically features classroom training, senior management speaker series, networking events, a performance review, and a mentorship program.

Developing Your Career
What you can anticipate as you make progress and after completing the program

At Morgan Stanley, Summer Associates begin with a one-day orientation to the firm where they are introduced to the firm's businesses and learn about what it is like to be an employee at Morgan Stanley.  Public Finance Summer Associates then attend divisional specific training where they learn core skills essential to a successful summer.  The curriculum includes daily market updates, business-specific overviews, and basic product and technical training.  Summer Associates are placed in groups where they get hands-on experience and work alongside experts within our industry.

Summer Associates will learn how they are progressing during the summer through an evaluation process with their managers, recruiting program leaders and/or Human Resources.  Interns will also be encouraged to share feedback on their experience during the summer.

At the end of the summer, every exceptional Summer Associate has the opportunity to receive a full-time offer. 

Is Public Finance Right for You?
A checklist to help you decide if you have the skills and aptitude for this area

• You must be highly focused and goal-oriented.
• You possess excellent written and oral communication skills.
• You excel at  teamwork and possess initiative, enthusiasm and motivation.
• You are an insightful, creative, quantitative thinker with the desire to work in an exciting environment
• You are very detail-oriented.
• You have the ability to multitask and prioritize.

Requirements

Summer Associates are expected to complete the first year of your Masters program (MBA preferred) in June 2011 and have an outstanding academic record along with a keen interest in the financial markets.

Selection Process

Candidates are encouraged to attend various Morgan Stanley Sales & Trading networking events, educational sessions, and/or presentations. Selected applicants will have the opportunity to meet with Morgan Stanley professionals both on campus and in our offices in either New York or San Francisco, depending on business need and candidate interest. Candidates are evaluated on their ability to succeed at both the Associate level and at the officer level.