PGIM: 2023 Fixed Income Sophomore Externship Program

Job Classification:

Investment Management - Investments

PGIM: 2023 Fixed Income Sophomore Externship Program

Location: 

Newark, NJ

Your Opportunity:

Are you a sophomore interested in learning about careers in fixed income asset management? Would you like to get a jump start on 2024 summer internship recruiting while networking with leaders at a Fortune 100 company? PGIM Fixed Income will host a 3-day sophomore externship in May 2023 to educate students on its asset management business and opportunities for internships and careers with the firm.

PGIM Overview:

PGIM is the asset management business of Prudential Financial, Inc. (NYSE: PRU). It is among the world’s largest asset managers with $1.3 trillion in assets under management, and 38 offices spanning 16 countries. It is composed of seven self-governing asset management divisions, each focused on a specific asset class with the ultimate goal of providing superior returns and premier service to our clients. Our culture is inclusive, rooted in trust, respect, and equality. Our leaders are focused on attracting and cultivating talent at all levels to develop the industry leaders of tomorrow.

PGIM Fixed Income is a major asset management division under the PGIM umbrella. It is an active manager that offers solutions across all fixed income markets. PGIM Fixed income has over 1000 employees, $750 billion of assets under management, and offices in Newark NJ, London, Letterkenny, Amsterdam, Munich, Zurich, Tokyo, Hong Kong, and Singapore. Our business climate is a safe inclusive environment, centered around mutual respect, intellectual honesty, transparency and teamwork.

Program Overview:

PGIM Fixed Income will host a 3-day externship from May 30th through June 1st, 2023 at our Newark, NJ headquarters. This program is intended for students who have just completed their sophomore year in college at that time. Transportation and lodging will be provided to those selected to participate in our program. Externs will engage in training, case studies, job shadowing, and networking during our program. There will also be opportunities to interview for a 2024 10-week paid summer internship, offers will be made to select candidates in June at the conclusion of the externship.

During the sophomore externship you will learn about the following PGIM Fixed Income groups. Each has summer internship opportunities for qualified students between their junior and senior year in college, and full-time opportunities for college graduates:

• Credit Research: The Credit Research team focuses on fundamental investment analysis, defining relative value within issuer capital structures and industry sectors, and communicating investment recommendations to Portfolio Managers. The fundamental credit investment research conducted by this team is an integral component of the portfolio construction process. Day-to-day responsibilities for members of this team include industry data collection & trend analysis, financial statement analysis, financial modeling & forecasting, assessment of business & financial strategy, and monitoring market movements through daily meetings with portfolio managers, economists, and strategists. In addition, this team regularly interacts with management of issuing companies, industry consultants, and Wall Street counterparts.

• Portfolio Analysis Group: The Portfolio Analysis Group evaluates portfolio positioning with respect to risk exposures and alpha objectives, provides portfolio construction and alignment insight, and analyzes performance drivers across a multitude of investment products and processes to deliver performance attribution. Utilizing a variety of analytical tools, the group integrates specific client guidelines, objectives, and risk tolerances into the firm’s investment process to ensure complete portfolio management and analytics are in place. The group collaborates and works closely with Senior Analysts, Portfolio Managers, Traders, Risk Managers, the Quantitative Team, Credit Research, Client Advisory, and Sales and Marketing.

• Client Advisory Group: The Client Advisory Group is comprised of all client-focused teams involved with the firm’s distribution efforts. The underlying teams, including Client Management & Reporting, Consultant Relations, Sales, Marketing, Data Analytics, Request for Proposal and Product Strategy, work closely together and collaborate with groups across PGIM Fixed Income to ensure premier client service. Primary responsibilities include creating new products and vehicles, conducting competitor analyses, creating and distributing thought leadership, utilizing proprietary analytical tools and systems to satisfy client, prospect and consultant needs, and servicing existing and obtaining new client relationships.  Through daily functions, team members develop an understanding of PGIM Fixed Income’s products, strategies, portfolios & positioning, and market views.

Candidate Requirements:

• Candidates must be enrolled in an accredited bachelor’s degree program graduating between December 2024 and May 2025

• All majors welcome! Candidates should have interest in exploring careers across asset management/investments/finance. Minimum GPA of 3.0 required

• Prudential does not provide visa sponsorship for this program. Successful candidates must possess the requisite US employment authorization to be eligible for consideration

Our Application Process:

1. Submit your application.

2. Receive invitation for a digital interview; this includes answering pre-recorded interview questions with the business(es) that advance your application(s).

3. Receive invitation for a final round interview; if selected, you will have the opportunity to meet with us in person or virtually to learn more about our business and culture.

For 2023 early talent roles, our process is designed to help you learn more about Prudential/PGIM and share your story with us. Digital interviewing allows greater flexibility, enables a quicker interview process, allows us to meet more candidates and share your story with more members of your team.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.

Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.

We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.

Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status , medical condition or any other characteristic protected by law. 

The Prudential Insurance Company of America, Newark, NJ and its affiliates.

Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at [email protected] for more information about doing business with Prudential.

PEOPLE WITH DISABILITIES:
If you need an accommodation to complete the application process, which may include an assessment, please email [email protected].

Please note that the above email is solely for individuals with disabilities requesting an accommodation.  If you are experiencing a technical issue with your application or an assessment, please email [email protected] to request assistance.