2026 Investment Banking Off-Cycle Internship (London)

In the Investment Banking division, we offer global expertise in market analysis and in advisory and capital-raising services for corporations, institutions, and governments. 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 Monday 4th May 2026. 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.

What you can expect from Morgan Stanley

At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren’t just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you’ll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There’s also ample opportunity to move about the business for those who show passion and grit in their work.