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At Franklin Templeton, we believe success is built through powerful partnerships. As a forward thinking asset manager, we build dynamic relationships with clients, understand their goals, and navigate complex markets together. We leverage cutting edge strategies and deep insights to unlock opportunities for long term wealth creation. Our talented, global teams bring expertise that is both broad and unique.
From our welcoming, inclusive, and supportive culture to our globally diverse business, we offer opportunities not only to help you reach your potential, but also to contribute to our clients' success.
PUTNAM EQUITY ASSOCIATE INTERN - Summer 2027
Eligibility Requirements
This internship is intended for undergraduate students who will be entering their junior or senior year in the Fall 2027 semester. Eligible candidates will be graduating in one of the following semesters:

• Fall 2027
• Spring 2028
• Fall 2028
• Spring 2029

Company Overview
Putnam Investments, a Specialized Investment Manager (SIM) of Franklin Templeton, is a diversified, equity-only asset manager with roots dating back to 1937. We manage a range of active equity portfolios with a focus on stock-specific opportunities. Our approach - stock-driven rather than style-driven - is designed to produce consistent outperformance, regardless of the market environment. As of December 31, 2024, the firm managed over $121 billion in assets under management in strategies covering the style, geography, and capitalization spectrum, as well as sustainable solutions. We offer these strategies in a number of vehicles to meet the investment needs of our global clients and investors. Available vehicles include mutual funds, institutional separate accounts, SMA/model portfolios, ETFs, CITs and UCITS.
Position Overview
The Equity Associate role is that of a junior Analyst, conducting fundamental research to make buy and sell recommendations on stocks just as would a more senior member of the research team. The internship will begin with a one-week training program including accounting, modeling and valuation training. In the following eight or nine-weeks, the Intern will focus on completing an industry project and will independently assume coverage of two stocks. For each, the investment case will be detailed through written research and a brief presentation given to a group of senior Analysts and Portfolio Managers. At the end of the summer, we will look to extend full-time offers to those who demonstrate the aptitude, passion and desire it takes to become a successful full-time Equity Associate.
Position Responsibilities

• Build and leverage industry expertise - perform deep analysis on companies within covered industry subgroups, building relationships with company management teams, as well as with suppliers, customers, and competitors. Leverage that expertise to anticipate trends for each company, including an understanding of material ESG issues that will affect long-term fundamentals.
• Identify and develop insights on key stock drivers - figure out 'what matters' for each stock, performing creative and differentiated research to build conviction around likely outcomes for each critical variable and the resulting implications for companies' profitability and stock prices.
• Communicate effectively to drive impact - articulate the investment case clearly, iterate with incremental analysis to support or disprove the theses, and present the finished product to a group of senior Analysts and Portfolio Managers.

Education, Work Experience, and Key Traits

• In the process of completing a BA or BS degree required. Candidates with superior undergraduate academic records from all majors are encouraged to apply.
• Self-driven individuals, who thrive in an autonomous environment and are excited about the opportunity to make a meaningful impact, while serving as a fiduciary to Putnam's shareholders, will do best.
• Prior work experience in the financial industry is helpful but not necessary. We are looking for a demonstration of passion that can be applied to investing.
• Strong work ethic coupled with the desire to win.
• Ability to learn quickly and to effectively convey conclusions.
• Team player; additive to overall process with positive attitude, leadership by example, and active involvement at all levels to advance the investment dialogue.

Ready to make moves? Apply today!
When applying, please be sure to attach your resume. Applications without a resume file attachment will not be reviewed.
Due to the large volume of applications anticipated, we may not be able to personally contact every applicant. If you are interested in applying to more than one Franklin Templeton internship, please apply for other internships that pique your interest.
Compensation Range: This is a full-time internship where students will work approximately 37.5 hours per week and earn competitive hourly pay of $37 - $47 USD per hour. There are several factors taken into consideration in making compensation decisions including but not limited to location, job-related knowledge, skills, and experience. At Franklin Templeton, we apply a total reward philosophy where all aspects of compensation and benefits are taken into consideration in determining compensation.
What makes Franklin Templeton unique?
We believe that being a good corporate citizen is good business. To us, corporate citizenship means being accountable, serving our clients, being an employer of choice, managing our environmental impact, and supporting our communities. An emphasis on corporate citizenship is embedded in our culture, and is an important element of how we achieve success.
We are also committed to your learning and development with resources focused around Experience, Exposure, and Education, to help you achieve your professional development goals.
Franklin Templeton is an Equal Opportunity Employer. We are committed to equal employment opportunity for all applicants and existing employees and we evaluate qualified applicants without regard to ancestry, age, color, disability, genetic information, gender, gender identity, or gender expression, marital status, medical condition, military or veteran status, national origin, race, religion, sex, sexual orientation, and any other basis protected by federal, state, or local law, ordinance, or regulation. We invite you to visit us at Franklin Templeton Careers to learn more about our company, career opportunities and recruitment process.
Franklin Templeton is committed to fostering a diverse and inclusive environment. If you believe that you need an accommodation to search for, or apply for, one of our positions please send an email to accommodations@FranklinTempleton.com . In your email, please include the accommodation you are requesting and the job title and job number you are applying for. It may take up to three business days to receive a response to your request. Please note that only requests for accommodations will receive a response.
At Putnam we are committed to a diverse workforce and take positive steps to ensure equal opportunity in our recruitment process. We also undertake to hire, develop and retain the most talented individuals by valuing the varied skills that you bring.
Candidates must be a U.S. citizen or national, refugee, asylee, or lawful permanent resident.
Franklin Templeton is an Equal Opportunity Employer. We are committed to providing equal employment opportunities to all applicants and employees, and we evaluate qualified applicants without regard to ancestry, age, color, disability, genetic information, gender, gender identity, or gender expression, marital status, medical condition, military or veteran status, national origin, race, religion, sex, sexual orientation, and any other basis protected by federal, state, or local law, ordinance, or regulation.