2026 PhD Summer Intern – Portfolio Management, Quantitative Research Analyst

PIMCO is a global leader in active fixed income with deep expertise across public and private markets. We invest our clients’ capital across a range of fixed income and credit opportunities, leveraging our decades of experience navigating complex debt markets. Our flexible capital base and deep relationships with issuers have helped us become one of the world’s largest providers of traditional and nontraditional solutions for companies that need financing and investors who seek strong risk-adjusted returns.

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.

2026 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.
• Must be able to begin full time employment at a PIMCO office between January 2027 – August 2027
• Must be enrolled at a university during the Fall 2026 semester (August 2026 – December 2026)
• 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.

The PIMCO Internship Experience:

• The PIMCO Internship Program runs between Monday, June 8 – Friday, August 14, 2026, 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 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 receive competitive compensation, along with a transition bonus to help with relocation to one of our office locations

Application Process:

Applications open in August 2025. We review applications on a rolling basis, so we encourage you to submit your resume as soon as you are ready.

Interview Process:

• After we receive your application, we will conduct an initial review of your resume
• If you are selected to move forward, you will have the opportunity to showcase your interests, skills, and personality by completing a one-way video interview
• If you are chosen to proceed after the video interview, you will then take an assessment
• Once you complete the assessment, you will have a final round of live interviews with us via video conference. These interviews typically include both behavioral and technical questions

PIMCO is an equal opportunity employer committed to creating an inclusive, cognitively diverse environment.

For more information on PIMCO and Career Opportunities, please visit https://www.pimco.com/us/en/about-us/careers

Equal Employment Opportunity and Affirmative Action Statement

PIMCO recruits and hires qualified candidates without regard to race, national origin, ancestry, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), sexual orientation, gender (including gender identity and expression), age, military or veteran status, disability (physical or mental), any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other basis such as medical condition, or marital status under applicable laws.

Applicants with Disabilities

PIMCO is an Equal Employment Opportunity/Affirmative Action employer. We provide reasonable accommodation for qualified individuals with disabilities, including veterans, in job application procedures. If you have any difficulty using our online system due to a disability and you would like to request an accommodation, you may contact us at 949-720-7744 and leave a message. This is a dedicated line designed exclusively to assist job seekers with disabilities to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.