About This Role
Morningstar India is hiring fresher Equity Research Analysts for its global equity research team. Morningstar is the world's leading provider of independent investment research, covering 1,700+ global stocks with Morningstar Economic Moat ratings and fair value estimates. India-based analysts are integrated into Morningstar's global research team — covering Indian and global listed companies across consumer, financial services, and industrials sectors.
Key Responsibilities
- Build and maintain Morningstar's proprietary DCF valuation models and Economic Moat assessment frameworks for assigned companies
- Write equity research reports covering business quality analysis, competitive positioning, and fair value estimates
- Update earnings models and fair value estimates following quarterly results and management conference calls
- Assess company competitive advantage (Morningstar Moat: wide, narrow, or none) using brand, switching costs, cost advantage, and network effect frameworks
- Conduct primary research: management interviews, industry association data, and primary channel checks
- Contribute to Morningstar's India fund analysis by evaluating Indian mutual fund portfolio holdings
Requirements & Skills
- MBA (Finance) or CFA Level I cleared from a recognised institution (2025/2026 batch)
- Strong financial modelling skills and understanding of business quality and competitive moats
- Good written English for research report writing (Morningstar reports are read by millions of retail investors)
- Interest in long-term fundamental investing and Warren Buffett/value investing philosophy
- CFA pursuit is very strongly encouraged at Morningstar
Benefits & Work Conditions
- Competitive salary with Morningstar annual bonus
- Morningstar's structured Research Analyst development programme
- CFA Level I, II, III examination fees paid by Morningstar — one of the best perks in the research industry
- Hybrid work with Morningstar's modern India offices
- Unique independent research culture — no conflicts of interest with investment banking
About the Company
Morningstar is the world's leading provider of independent investment research, with $2.3 billion+ in revenue and 12,000+ employees in 32 countries. Morningstar India, with offices in Mumbai, Hyderabad, and Bengaluru, employs 2,000+ analysts and product professionals — the largest non-US Morningstar office globally. Morningstar India is particularly known for its fund analysis, equity research, and APAC data services.
How to Apply
Apply at morningstar.com/company/careers and search for Equity Research Analyst roles in India.