Morningstar Development Program - Quant Track (Jan 2027)

This is a role built for growth. You'll start on defined tasks with clear guardrails — running validation checks, investigating anomalies, learning how our models and data actually behave — progressively taking on more responsibility and starting to contribute to the team's broader research agenda as your depth and judgment build. You'll work closely with more senior analysts who'll help you get there, building the skills and confidence to take on more over time.

This position is based in our Chicago office.

Responsibilities:

• Run validation checks on models and analytics already in production, and help investigate when something looks off.
• Learn how our models and data actually behave, so you can start to spot when a result doesn't look right.
• Build real depth in the methodologies you work with, and start noticing where they could be better, as a first step toward proposing enhancements yourself.
• Apply quantitative techniques — data wrangling, statistics, and numerical methods — to real production data and models, not just theory.
• Write clear, well-documented code, notebooks, and technical documentation, so what you build and learn is something a colleague can pick up without you there to explain it.
• Take part in peer review — both learning from feedback on your own work after presenting it, and starting to review others' for correctness and clarity.
• Use AI tools to support your own work, and learn to check their output carefully rather than taking it at face value.

Requirements:

• Genuine interest in investing and financial markets, with curiosity about how the analytics you help build actually get used by investors to make decisions.
• A degree in a quantitative, financial, or related discipline (e.g., math, statistics, economics, engineering, computer science), with hands-on comfort in data wrangling and basic statistical or numerical methods.
• Proficient in Python, and comfortable with SQL.
• Clear written and verbal communication skills — able to explain your work and ask good questions within a collaborative team environment.
• Curious and detail-oriented, with a habit of noticing when something doesn't look quite right.
• Comfortable asking for help and escalating when something is unclear, rather than guessing.

Base Compensation for this role is $94,286.

The role will be open until October 20 and applications will be reviewed on a rolling basis.

Compensation and Benefits

At Morningstar we believe people are at their best when they are at their healthiest. That’s why we champion your wellness through a wide range of programs that support all stages of your personal and professional life. Here are some examples of the offerings we provide:

Financial Health

100% 401k match up to 6% of salary

Stock Ownership Potential

Company provided life insurance - 1x salary + commission

Physical Health

Comprehensive health benefits (medical/dental/vision) including potential premium discounts and company-provided HSA contributions (up to $500-$2,000 annually) for specific plans and coverages

Additional medical Wellness Incentives - up to $300-$600 annual

Company-provided long- and short-term disability insurance

Emotional Health

Trust-Based Time Off

6-week Paid Sabbatical Program

6-Week Paid Family Caregiving Leave

Competitive 8-24 Week Paid Parental Leave

Adoption Assistance

Leadership Coaching & Formal Mentorship Opportunities

Annual Flex Stipend - $1000 annually to cover personal education & well-being expenses

Tuition Reimbursement

Social Health

Charitable Matching Gifts program

Dollars for Doers volunteer program

Paid volunteering days

15+ Employee Resource & Affinity Groups

Morningstar's hybrid work environment gives you the opportunity to collaborate in-person each week as we've found that we're at our best when we're purposely together on a regular basis. In most of our locations, our hybrid work model is four days in-office each week. A range of other benefits are also available to enhance flexibility as needs change. No matter where you are, you'll have tools and resources to engage meaningfully with your global colleagues.