2027 Investment Fellowship Program

Location: Baltimore, MD

At T. Rowe Price, we identify and actively invest in opportunities to help people thrive in an evolving world. As a premier global asset management organization with more than 85 years of experience, we provide investment solutions and a broad range of equity, fixed income, and multi-asset capabilities to individuals, advisors, institutions, and retirement plan sponsors. We take an active, independent approach to investing, offering our dynamic perspective and meaningful partnership so our clients can feel more confident.

We believe doing the right thing for our clients and our associates is good business. With a career at the firm, you can expect opportunities to create real impact at work and in your community. You’ll enjoy resources to support your career path, as well as compensation, benefits, and flexibility to enrich your life. Here, you’ll find a collaborative culture that respects and values differences and colleagues who share a spirit of generosity.

Join us for the opportunity to grow and make a difference in ways that matter to you.

Role Summary

As a part of the Fellowship Program, you will rotate approximately every 6 months for up to 2 years within the following departments:

Trading / Portfolio Modeling (Equity and Fixed Income)

Quantitative Research – Equity, Fixed Income, Multi Asset

Enterprise Risk

Distribution Channels

You will leverage your analytical and quantitative skills by working on projects and assignments across various business units.  Additionally, you will further develop knowledge and skills in the following areas:

Portfolio Modeling

Quantitative Portfolio Analysis / Portfolio Attribution / Portfolio Construction

Multi Asset Research

Quantitative analysis / Research and Trading Research

Transaction Cost Analysis

Enterprise and Portfolio Risk Analysis

Competitive Analysis and Market Intelligence

Predictive Analytics

Responsibilities

Responsibilities will vary based on rotational placement, but may include:

Determine the value of a security by examining its numerical, measurable characteristics, such as revenues, earnings, margins, and market share

Search for exploitable patterns in data that can be used to reinforce or alter portfolio managers’ behavior and avoid unintended consequences

Evaluate derivatives as risk-adjusted return enhancement strategies for portfolios

Assess portfolio structure to manage risks of style drift

Analyze transaction costs and trade execution performance

Measure and optimize performance of brokers and algorithms and evaluate the effectiveness of our trading strategies

Assess derivative exposure in portfolios, liquidity analysis on balance sheets, redemption analysis studies, and competitor analysis research

Analyze exposure to risk and determine how to best handle such exposure

Divide investments among different kinds of assets, such as stocks, bonds, real estate, and cash, to optimize the risk/reward trade-off based on an individual’s or institution’s specific situation and goals

Analyze data gathered and used by a company for the purpose of learning about its competition in a given market

Qualifications

Required:

Full time student pursing a bachelor’s degree with and expected graduation date of December 2026 – May/June 2027 with a minimum cumulative grade point average of 3.5 on a 4.0 scale

Must be majoring in one of the following areas or have at least a min of 24 credit hours in related courses: Engineering, Applied Mathematics, Computer Science and/or Physics

Strong analytical skills and the ability to solve problems while showing intellectual curiosity.

Savvy usage of technology and a data driven mindset.

Ability to process a variety of information and quickly draw relevant conclusions and summarize results

Preferred:

Exposure to fixed income, equity research, or portfolio analysis through coursework, internships, or professional experience

Experience conducting fundamental or credit analysis, including evaluating company performance, financials, and competitive positioning

Familiarity with financial modeling, attribution analysis, or market research

Experience presenting analysis or investment recommendations to stakeholders or peers

Working knowledge of tools such as Excel and/or exposure to data or programming languages (e.g., Python, SQL)

Demonstrated ability to collaborate across teams and manage multiple priorities in a fast-paced environment

A growth mindset with commitment to ongoing learning of AI-augmented platform

FINRA Requirements

FINRA licenses are not required and will not be supported for this role.

Work Flexibility

This role is eligible for hybrid work, with up to one day per week from home.

Applicants for employment in the US must have work authorization that does not now or in the future require sponsorship of a visa for employment authorization in the United States (e.g., H1-B visa, F-1 visa (OPT), TN visa or any other non-immigrant work status).

Base Salary Ranges

Please review the job posting for the location of this specific opportunity.

$85,000.00-$110,000.00 for the location of: Maryland, Colorado, Washington and remote workers $85,000.00-$110,000.00 for the location of: Washington, D.C. $85,000.00-$110,000.00 for the location of: New York, California

Placement within the range provided above is based on the individual’s relevant experience and skills for the role.  Base salary is only one component of our total compensation package.  Employees may be eligible for a discretionary bonus, which is determined upon company and individual performance.

Commitment to Diversity, Equity, and Inclusion

At T. Rowe Price, our associates are our greatest asset. We thrive because our company culture is built on inclusion and because we sustain a work environment where associates can bring their best selves to work every day. The backgrounds, talents, and experiences of our global associates allow us to embrace new ideas and perspective