Equities Intern – Graduate Summer Associate 2024

What You’ll Do

Principal Asset Management will host a small group of interns for graduate students in our equities investment division during the Summer of 2024. These Summer Associates will join the Research Analyst team of Principal Equities with over $100 billion in AUM.

Principal Equities seeks companies demonstrating positive fundamental change, with exploitable expectation gaps and pricing anomalies. Our conviction is built on fundamental bottom-up insights rather than making macro-based calls.

Principal Asset Management, a subsidiary of Principal Financial group, offers global asset management expertise across a diverse set of traditional and alternative asset classes. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!

• Support our Research Analyst team to generate ideas and aid in construction of outperforming strategies.
• Participate in special projects for fundamental analysts to identify buy/sell candidates which will allow you to attend analysis meetings and product specific discussions with individual analysts as well as create your own investment thesis on stocks. For those Associates seeking a more quantitative focus, custom projects will also be assigned.
• Provide comprehensive overview of the equity investment process including deep fundamental analysis focused on drivers of the investment process, stock selection models, quantitative ranks, portfolio construction, performance monitoring, trading and client reporting.
• Participate in the full trade life cycle of complex, multi-currency, institutional funds. This will include extensive work in our Order Management System as well as proprietary and third- party investment management tools.
• Help manage cash, trade execution, operations and client facing responsibilities in a support of our Funds. This will include working closely with Senior Portfolio Management Associates, Operations, Trading and Compliance. This time sensitive work helps develop an understanding of the day-to-day work flow of a large equity mandate

Who You Are

• Candidates must be pursuing a Master’s, MBA, or PHD in finance, security analysis, math, statistics, economics, accounting or an equivalent emphasis.
• Prior internship, work experience, or focused Masters level course work in equity investments.
• Must have strong knowledge of investments combined with excellent mathematical skills.
• Advanced PC skills and proficiency with Excel.
• Availability to work onsite (four days a week, one day remote) in Des Moines, IA for 40 hours/week during the summer of 2024.

Skills That Will Help You Stand Out

• Chartered Financial Analyst (CFA) or CFA candidate.
• Exceptional organizational skills.
• Exposure to Morningstar, FactSet, Bloomberg, or similar.
• Strong written and verbal communication skills.
• Involvement in student organizations or within the community.

Salary Range InformationSalary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)$49 – $51 / hourAdditional Information

Our Internship Culture

Join an established program that provides hands-on experiences for 200+ interns each year! You’ll learn new skills with dedicated teams and mentors, build your professional network and collaborate across a global Fortune 500 company. We care about offering you diverse experiences and exciting challenges that push you to reach for bigger life goals, all while enjoying our flexibility and work life balance. Join us for events such as our Executive Speaker Series, gain career direction, and much more! https://www.principal.com/about-us/careers/internships

Internship Stipend

You will receive a lump sum stipend of $3,000. This amount is intended to support incidental expenses you may incur as part of your internship. The Company will provide a tax gross-up on this stipend as a financial benefit, but is not intended to compensate for all tax liabilities.

Location(s)

This role will be based out of our Corporate Headquarters located in Des Moines, IA.

Work Environments

This role offers the ability for in-office, or four days in-office and one day remote. You’ll work with your leader to determine which option may align best based on several factors.

Work Authorization/Sponsorship

At this time, we’re not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.

Nonimmigrant Workers and Green Card for Employment-Based Immigrants

Investment Code of Ethics

For Principal Asset Management positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.

Experience Principal

At Principal, we value connecting on both a personal and professional level. Together, we’re imagining a more purpose-led future for financial services – and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our interns.

Principal is an Equal Opportunity Employer

All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.