Equity Research Associate - Fintech & Payments

Role Overview

Morgan Stanley Investment Research is focused on being a core partner in clients’ investment decisions. The team aims to understand what matters most to buy-side investors by identifying the key debates, weighing possible outcomes, and finding the evidence needed to support sound investment calls. The research platform spans thousands of equities, along with economists, strategists, and fixed income analysts covering major regions and asset classes worldwide.

The Equity Research function examines both broad economic trends and company-level fundamentals, then turns that analysis into investment ideas for stocks within specific sectors. Analysts develop financial models, study industries, and communicate with companies and investors through research notes and direct discussions. This role is for an experienced Associate to join the Fintech & Payments coverage team in New York.

What You’ll Do

• Build and update financial and industry models using accounting, finance, and economics knowledge.
• Draft research publications for new coverage, earnings analysis, company updates, and sector developments.
• Track news and developments across the industry and assess what they mean for covered companies.
• Maintain working relationships with investor relations teams and senior company leadership.
• Carry out field research, including surveys, expert calls, and channel checks to validate market trends.
• Partner with other internal teams on broader industry and thematic reports.
• Use all available sources to generate original insights for company-specific and sector research.
• Support sales and trading with rapid analysis of significant news affecting the sector.
• Respond to institutional investor questions and tailored information requests in a clear and timely way.

Experience and Qualifications

This position calls for at least 2 years of relevant professional experience in equity research, investment banking, and/or the fintech sector. The ideal candidate should be highly skilled in Excel, including building and maintaining three-statement financial models, and should also have strong PowerPoint capabilities. Prior professional writing experience is important, especially in equity research notes and industry reports.

The role requires exceptional attention to detail, the ability to adapt quickly, and comfort working under pressure. Candidates should bring strong personal drive, energy, curiosity, creativity, organization, high emotional intelligence, and a collaborative mindset. Python experience is beneficial but not mandatory, and CFA credentials are considered an advantage.

Compensation and Additional Information

The expected base salary for this Associate role is between USD 150,000 and USD 200,000 per year at the start of employment. Final compensation is determined individually and may also include commission, incentive pay, discretionary bonuses, and other short- and long-term incentive arrangements, along with Morgan Stanley-sponsored benefits.

Morgan Stanley emphasizes a culture built on client focus, integrity, strong ideas, inclusion, and giving back. The firm supports employee development and internal mobility, and offers a broad benefits package for employees and their families. The company is an equal opportunity employer and hires, develops, and promotes people based on skills and talent.