The Group:
Research & Investments creates compelling insights and effective investment solutions to empower investor success. We honor time-tested investment principles and consistently apply robust methodologies to earn and protect trust. We thoughtfully deploy our key asset, our people, to scale and deliver more value to more investors. This diverse group comprises Morningstar’s Investment Management (“IM”) and Equity Research teams, in addition to our Behavioral Insights team.
The Role:
We require a Director of Equity Research to join our multi-asset research (“MAR”) team who will report into the Head of Multi-Asset Research. The Director of Equity Research will work closely with the MAR and IM teams, focusing on producing world class proprietary equity market investment research to support the management of the group’s investment strategies. The role is based in either our Chicago or London offices.
Responsibilities:
- Lead the global equity research function supporting equity strategies within multi‑asset portfolios
- Serve as a member of the Equity Committee, helping to surface new investment ideas and prioritize the equity research agenda.
- In collaboration with the Equity Committee, develop and oversee the team’s approach to in‑depth industry and capital‑cycle analysis as the key source of equity market investment ideas.
- Author actionable investment theses grounded in capital‑cycle analysis, industry competitive dynamics, valuation assessment, and associated fundamental risks.
- Manage the production and ongoing enhancement of equity valuation frameworks in collaboration with the quantitative research team.
- Train, mentor, and develop a team of analysts responsible for equity research.
- Act as a thought leader for the firm’s equity perspectives across internal forums, client engagements, and selected external thought‑leadership initiatives.
Requirements:
- 7+ years of progressive hands-on equity and company research experience with deep understanding of corporate valuation and financial statement analysis.
- Have a passion for investing, markets, in-depth fundamental investment research, and supporting investment strategies and offerings to meet the needs the evolving market environments that our clients serve.
- Alignment with Morningstar’s philosophy and approach to investing.
- Demonstrated expertise of equity security-level valuation models.
- Excellent critical thinking skills with a focus on industry and company analysis.
- Outstanding oral and written communication skills, with the ability to produce high quality written materials.
- Ability to communicate complex ideas clearly and succinctly.
- CFA designation or a post-graduate designation is preferable.
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
Total Cash Compensation Range
$195,600.00-299,916.66Inclusive of annual base salary and target incentive
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.
002_MstarAssocLLC Morningstar Investment Management LLC Legal EntitySkills Required
- 7+ years of progressive hands-on equity and company research experience with deep understanding of corporate valuation and financial statement analysis.
- Demonstrated expertise of equity security-level valuation models.
- Excellent critical thinking skills with a focus on industry and company analysis.
- Outstanding oral and written communication skills, with the ability to produce high quality written materials.
- Ability to communicate complex ideas clearly and succinctly.
- Passion for investing, markets, and in-depth fundamental investment research to support investment strategies.
- Alignment with Morningstar's philosophy and approach to investing.
- CFA designation or a post-graduate designation.
What the Team is Saying
Morningstar Compensation & Benefits Highlights
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Leave & Time Off Breadth — Time-off policies include flexible PTO and a paid sabbatical every four years, often highlighted as a standout perk. Feedback suggests this structure supports strong work–life balance and meaningful breaks.
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Parental & Family Support — Policies advertise a global minimum of 16 weeks for primary caregivers, up to 8 weeks for secondary caregivers, and at least six weeks of paid caregiving leave. These offerings signal above-average support for family and caregiving needs.
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Retirement Support — Retirement programs feature employer 401(k) contributions/matching, with some postings citing a 75% match on up to 7% of pay. Feedback suggests these offerings are a strong pillar of the package.
Morningstar Insights
What We Do
We are a global investment research and financial data company with 40-plus offices across North America, Europe, Australia, and Asia. Our products and services are used daily by individual investors, financial advisors, asset managers, retirement plan providers, and institutional investors. We provide data, research, and analysis across managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. The financial system can have real barriers—hidden information, friction that can slow decisions, and forces that can limit transparency and access. We work to remove them, bringing independent research, connected data, and investor-first tools to a system that needs more clarity. The people doing this work span research, technology, design, product, sales, and functional areas. We build many of our products in-house, so the work can connect directly to the tools investors use to make real financial decisions.
Why Work With Us
Morningstar’s missing is to empower investor success. We can only do that if our people feel empowered. That means finding people who think independently, bring a wide range of backgrounds with analytical rigor and genuine intellectual curiosity to the work.
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Morningstar Teams
Morningstar Offices
Hybrid Workspace
Employees engage in a combination of remote and on-site work.
Across most of our offices globally, employees work four days a week in the office and one day from home. We recognize that life doesn't always fit a fixed schedule and offer programs that can help provided increased workplace flexibility.
