Fixed Income Extended Intern/Co-op (January-June 2024 or June-December 2024)
Req ID: 40458 Category: Investments Position Type: Intern (Full Time)
Locations: Des Moines, Iowa; New York, New York Remote: No
Department: H724000-PGFI Credit Research
What You’ll Do
We’re looking for a group of Fixed Income extended interns/co-ops to join our Credit Research and Portfolio Management Teams. In this role, you’ll be responsible for running specific daily, weekly, and quarterly reporting for traders and analysts, preparing Commercial Paper Reviews, assisting with financial models, and analyzing a company (or two) with a final presentation on your investment recommendation to the team!
Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!
Principal Asset Management, a subsidiary of Principal Financial group, offers global asset management expertise across a diverse set of traditional and alternative asset classes. Check us out at www.principalam.com.
- Assist the traders on an ad hoc basis
- Improve, streamline, and document existing processes
- Assist with sector coverage
- Direct interaction with company roadshows and/or Bloomberg representatives
- Preparation of investment performance commentary
- Assist analysts in preparing commercial paper and credit reviews
- Availability to work onsite (four days a week, one day remote) in Des Moines, IA or New York City for 40 hours/week, from January to June 2024 or June to December 2024
Who You Are
- You are working towards a degree in accounting, finance, economics, engineering, business analytics, math, statistics, or a related major
- You have completed intermediate level coursework in finance
- You preferably have a 3.5 GPA or higher
- You have additional exposure to investment concepts through involvement in student organizations or work experiences
Skills That Will Help You Stand Out
- Exposure to FactSet, Bloomberg, or similar
- Strong Excel experience
- You have the ability to interact well in verbal and written communications
- Exceptional organizational skills
Salary Range Information
Salary 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)
$20 – $22 / hour
Additional 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 $6,000. 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 internship can be located at either our corporate headquarters in Des Moines, IA or New York City from January to June 2024 or June to December 2024.
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.
