PhD Summer Intern – Portfolio Management, Quantitative Research Analyst

PIMCO is a global leader in active fixed income. With our launch in 1971 in Newport Beach, California, PIMCO introduced investors to a total return approach to fixed income investing. In the 50+ years since, we have worked relentlessly to help millions of investors pursue their objectives – regardless of shifting marketing conditions. As active investors, our goal is not just to find opportunities, but to create them.

To this end, we remain firmly committed to the pursuit of our mission: delivering superior investment returns, solutions, and service to our clients.

Since 1971, our people have shaped our organization through a high-performance inclusive culture, in which we celebrate diverse thinking. We invest in our people and strive to imprint our CORE values of Collaboration, Openness, Responsibility and Excellence. We believe each of us is here to help others succeed and this has led to PIMCO being recognized as an innovator, industry thought leader and trusted advisor to our clients.

2027 PhD Summer Internship – Portfolio Management, Quantitative Research Analyst

Internship positions are located at PIMCO’s Newport Beach, CA Headquarters

Eligibility Criteria:

To apply, you must meet the following requirements:

• Be a Ph.D. candidate from a top program in quantitative fields such as Finance, Economics, Statistics, Computer Science, Operations Research, Physics, or Mathematics.

• Expected graduation from the Ph.D. program between Dec 2027 and June 2028

• Have business proficiency in English.

PM Analytics
The PM Analytics team collaborates closely with Portfolio Management to provide quantitative inputs to PIMCO’s investment process. This includes developing models for alpha generation and risk management. Team members may specialize in specific markets (e.g., credit, rates, mortgages) or take on cross-market roles such as asset allocation, portfolio construction, or execution. Key responsibilities involve conducting econometric analyses of historical returns, building empirical and risk-neutral valuation models, applying macroeconomic research, and analyzing extensive transaction data to enhance trade execution.

Desired candidates should possess the following skills and characteristics:

• A strong interest and background in quantitative disciplines, with knowledge of asset pricing, fixed income markets, economic theory, and optimization methods preferred.

• Formal training in empirical research, particularly in time series and panel data econometrics, with experience in analyzing large datasets preferred.

• Proficiency in programming, with a strong preference for Python; knowledge of C++ is also beneficial.

• High energy, a results-driven mindset, and strong analytical, problem-solving, and communication skills.

• Demonstrate curiosity and experience in using new emerging technologies and AI tools in your work or school projects to solve problems and drive better outcomes

The PIMCO Internship

Experience:

• The PIMCO Internship is a 10-week program that runs from early June to mid-August, with the expectation that you will be available for the full duration of the program

• The first week includes PIMCO Fundamentals Training, equipping you with essential skills and knowledge for success.

• You will then be assigned a project to complete under the mentorship of a supervisor and peer mentor.

• You are also encouraged to take advantage of the expertise of your teammates and subject matter experts throughout the firm.

• Regular feedback will be provided at mid-summer and at the end of the program to help you achieve your goals.

• At the conclusion of the internship, you will present your findings to the team.

• Your supervisor, peer mentor, senior leaders and team offer guidance and mentorship throughout the summer

• You will gain hands-on experience with AI-powered tools from day one, with training and resources that help build future ready skills and make an impact from the start

• You will also have opportunities to explore the diverse range of products traded at PIMCO and participate in various educational, networking, and social events.

• Want to learn more? Hear about The PIMCO Internship Experience from past interns

• As a PIMCO intern, you’ll…