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Being good neighbors – helping people, investing in our communities, and making the world a better place – is who we are at State Farm. It is at the core of how we operate and the reason for our success. We're moving with urgency to become a Next Gen Good Neighbor, with technology that strengthens human connections and enhances the customer experience. As an employee, you'll spend less time navigating systems and more time applying judgment, empathy, and expertise in the moments that matter most.

The State Farm Investment Department manages more than $400 billion in assets in support of one of the leading personal auto and home insurers in the United States. As an investment intern, you will gain hands-on experience working alongside professionals responsible for managing a large and diversified institutional investment portfolio.

The Investment Department manages assets across a broad range of asset classes, including:

• Public and Private Corporate Bonds
• Municipal Bonds
• Structured Products, including ABS, RMBS, and CMBS
• Sovereign Debt
• Private and Public Equity
• Commercial Mortgage Loans
• Real Estate

The Mortgage/Real Estate Investment Team manages a portfolio of more than $23 billion on behalf of State Farm. Investments include commercial, multifamily, and construction mortgage loans, as well as wholly owned real estate equity investments, and REIT securities. Investments are originated and managed by regional mortgage teams and dedicated real estate equity and REIT teams. Our processes and systems support disciplined underwriting, an expansive sourcing network, and diligent asset management. State Farm is a relationship-oriented lender and equity capital provider with a well-established and growing commercial real estate platform. Interns will work at the State Farm CityLine campus in Richardson, Texas, within the Dallas-Fort Worth metropolitan area.

Separate internship opportunities within the Investment Department are also available in:

• Fixed Income (Corporate Bonds/Structured Products/Liquidity Management)
• Private and Public Equity

What You’ll Do

• Assist with investment origination, due diligence, and financial modeling to support the continued growth of the commercial mortgage loan and real estate equity portfolios.
• Prepare and present investment recommendations to senior leadership for investment selection and approval.
• Gain exposure to asset management through our annual loan review and risk rating process, including an evaluation of individual property performance.
• Analyze and evaluate economic data, local market research, property comparables, and tenant financial information to support risk assessments, valuations, and investment decisions for multifamily, industrial, office, and retail property types.
• Complete special projects for various functional areas within the real estate portfolio, including mortgage loans, real estate equity, and REITs.
• Participate in an on-site property inspection and related due diligence alongside State Farm real estate professionals; meet with local real estate owners, developers, and brokers to learn how industry relationships are developed.

What You’ll Learn and Gain

• Gain an inside look into the management of a commercial real estate portfolio of more than $23 billion, along with exposure to the State Farm network of commercial real estate developers, operators, and brokers across major US markets.
• Develop a deeper understanding of the investment industry, the State Farm investment philosophy, and other asset classes within the Investment Department.
• Contribute to a collaborative team environment that encourages thoughtful discussion and different perspectives.
• Receive personalized mentoring and coaching from experienced investment professionals.
• Network with senior leaders and external investment industry professionals.
• Collaborate and build relationships with other talented interns.
• Strengthen analytical, communication and presentation skills.

• Currently enrolled college students who will have completed their junior year by start of the internship.
• Cumulative GPA of 3.5 or higher preferred, with a record of academic and personal achievement.
• Coursework, relevant experience, or expressed interest in areas such as real estate, investments, accounting, financial statement analysis, economics, and corporate finance.
• Strong analytical, critical thinking, and risk assessment skills.
• Ability to work collaboratively as part of a team, as well as operate independently.
• Effective customer service and interpersonal skills, including the ability to create, build, and maintain relationships with internal and external parties.
• Excellent influencing, problem-solving, and communication skills.
• Strong prioritization, time management, and organizational skills to meet deadlines while maintaining attention to detail.
• A desire to continuously learn, develop expertise, and apply new knowledge into action.
• Authorized to work in the United States at the time of hire.

Internship Information

• Location: Richardson, TX
• Internship Dates: June 2, 2027 – August 11, 2027
• Interview Timing: Competitive candidates will be invited to participate in online interviews during the fall of 2026
• Hourly Rate: $33.00/hour based on a 38.75-hour work week
• In addition, interns selected for our summer internship program will be eligible for a $2,000 stipend, payable upon start of internship
• Hybrid work environment: Combination of in-office and working from home, based on internship and business requirements

We are excited to offer our interns a tailored set of benefits with a range of valuable perks to help support you during your time with us!

Time Off

• 40 hours of Life Leave
• Military Leave

Financial Benefits

• 401(K) Savings Plan (Eligible at age 18)
• Mutual Funds (Eligible at age 18)
• Commuter Benefits

Miscellaneous Benefits

• Wellness programs
• US Discount program
• Good Neighbor Grant program
• Matching Gift program
• Employee Assistance Fund
• Company Holidays

• Currently enrolled college students who will have completed their junior year by start of the internship.
• Cumulative GPA of 3.5 or higher preferred, with a record of academic and personal achievement.
• Coursework, relevant experience, or expressed interest in areas such as real estate, investments, accounting, financial statement analysis, economics, and corporate finance.
• Strong analytical, critical thinking, and risk assessment skills.
• Ability to work collaboratively as part of a team, as well as operate independently.
• Effective customer service and interpersonal skills, including the ability to create, build, and maintain relationships with internal and external parties.
• Excellent influencing, problem-solving, and communication skills.
• Strong prioritization, time management, and organizational skills to meet deadlines while maintaining attention to detail.
• A desire to continuously learn, develop expertise, and apply new knowledge into action.
• Authorized to work in the United States at the time of hire.

Internship Information

• Location: Richardson, TX
• Internship Dates: June 2, 2027 – August 11, 2027
• Interview Timing: Competitive candidates will be invited to participate in online interviews during the fall of 2026
• Hourly Rate: $33.00/hour based on a 38.75-hour work week
• In addition, interns selected for our summer internship program will be eligible for a $2,000 stipend, payable upon start of internship
• Hybrid work environment: Combination of in-office and working from home, based on internship and business requirements