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Equity Associate Summer Internship 2023

     Company Overview

Founded in 1937, Putnam Investments is a global money management firm with over 75 years of experience helping individuals and institutions pursue their investment goals. Putnam manages assets across equity, fixed income, asset allocation, and alternative strategies. Active, fundamental research, innovation, and risk management drive our approach to investing. Our global presence includes offices in Boston, London, Frankfurt, Tokyo, Singapore, and Sydney, all united by our collaborative culture and singular focus on client objectives. For more information, please visit
                                                                                     Position Overview

The Equity Associate role is that of a junior Analyst, conducting fundamental research to make buy and sell recommendations on stocks just as would a more senior member of the research team. The internship will begin with a one-week training program including accounting, modeling and valuation training. In the following nine-weeks, the Intern will focus on completing an industry project and will independently assume coverage of two stocks. For each, the investment case will be detailed through written research and a brief presentation given to a group of senior Analysts and Portfolio Managers. At the end of the summer, we will look to extend full-time offers to those who demonstrate the aptitude, passion and desire it takes to become a successful full-time Equity Associate.
 Position Responsibilities
·        Build and leverage industry expertise – perform deep analysis on companies within covered industry subgroups, building relationships with company management teams, as well as with suppliers, customers, and competitors. Leverage that expertise to anticipate trends for each company, including an understanding of material ESG issues that will affect long-term fundamentals.
·        Identify and develop insights on key stock drivers – figure out ‘what matters’ for each stock, performing creative and differentiated research to build conviction around likely outcomes for each critical variable and the resulting implications for companies’ profitability and stock prices.
·        Communicate effectively to drive impact – articulate the investment case clearly, iterate with incremental analysis to support or disprove the theses, and present the finished product to a group of senior Analysts and Portfolio Managers.
 Education, Work Experience, and Key Traits
·        In the process of completing a BA or BS degree required. Candidates with superior undergraduate academic records from all majors are encouraged to apply. 
·        Self-driven individuals, who thrive in an autonomous environment and are excited about the opportunity to make a meaningful impact, while serving as a fiduciary to Putnam’s shareholders, will do best.
·        Prior work experience in the financial industry is helpful but not necessary. We are looking for a demonstration of passion that can be applied to investing.
·        Strong work ethic coupled with the desire to win.
·        Ability to learn quickly and to effectively convey conclusions.
·        Team player; additive to overall process with positive attitude, leadership by example, and active involvement at all levels to advance the investment dialogue.
At Putnam we are committed to a diverse workforce and take positive steps to ensure equal opportunity in our recruitment process. We also undertake to hire, develop and retain the most talented individuals by valuing the varied skills that you bring.
Candidates must be a U.S. citizen or national, refugee, asylee, or lawful permanent resident.