Equity Research - Analyst/Associate, Airlines & Freight Transportation (New York)

Primary Responsibilities: Create and maintain financial, valuation, and industry models, leveraging skills in accounting, finance, and economics Translate company, industry, consumer, market, and alternative data into insightful research reports with clear investment debates, differentiated conclusions, and actionable stock calls Develop and maintain relationships with management and investor relations teams of companies under coverage, industry specialists, and other key leaders of opinion Engage with institutional investors by responding to in-depth questions, addressing bespoke requests, discussing companies and investment theses, and helping communicate the team’s highest-conviction views Support internal sales and trading teams with timely analysis of sector breaking news and relevant industry developments Adopt and apply AI-enabled research tools judiciously to accelerate information gathering, model maintenance, data analysis, and workflow execution while maintaining analytical rigor, source verification, data integrity, and quality control Conduct industry diligence and primary research through surveys, expert conference calls, and channel checks to evaluate industry trends and their implications for companies under coverage Collaborate with cross-functional teams to produce larger industry and thematic reports

Qualifications: Ideally 1-2 years of professional experience in equity research or investment banking Experience or sector knowledge in airlines and/or freight transportation is highly desirable Proven experience using Excel to build and maintain financial models; advanced Excel proficiency is required Strong written and verbal communication skills, with the ability to present analysis clearly, defend conclusions, and contribute positively in client-facing discussions Demonstrated interest in public markets and a genuine curiosity about what drives stock performance, investor debates, and valuation Comfort adopting AI-enabled tools and new technologies to improve research efficiency, with the judgment to verify outputs, protect data integrity, and apply tools appropriately Demonstrated attention to detail and commitment to accuracyAbility to adapt quickly and work well under pressure High EQ, strong personal drive, energy, creativity, intellectual curiosity, organizational discipline, and a team-oriented mindset Ability to think independently, develop differentiated views, and operate with a self-starter mentality Experience with Python is a plus but not required CFA designation, or progress toward CFA is a plus but not required WHAT YOU CAN EXPECT FROM MORGAN STANLEY: At Morgan Stanley, we raise, manage and allocate capital for our clients – helping them reach their goals. We do it in a way that’s differentiated – and we’ve done that for 90 years. 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. To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser. Expected base pay rates for the role will be between $110,000 and $125,000 per year for Analyst, and between $150,000 and $200,000 per year for Associate, at the commencement of employment. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs. Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents. Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences. For more information, please visit: https://www.morganstanley.com/people-opportunities/eeo. At Morgan Stanley, we advise, originate, trade, manage and distribute capital for people, governments and institutions, always with a standard of excellence and guided by our core values. Morgan Stanley is dedicated to providing first-class service to our clients, in a way that reflects our commitment to creating a more sustainable future and fostering stronger communities around the world. In each line of business, we strive to demonstrate our belief in the power of transformative thinking, innovative strategies and leading-edge solutions—and in the ability of capital to work for the benefit of all society.