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 EntityMorningstar Chicago, Illinois, USA Office
Morningstar Global Headquarters Office
22 West Washington Street, Chicago, IL, United States, 60602
Morningstar’s Chicago office is the company’s headquarters, bringing together teams across research, technology, product, sales, corporate functions, and more. Employees work in a mission-driven culture shaped by independent thinking, openness, and fact-based decision-making, with the energy of a downtown location and opportunities to connect across teams.
Software Engineering
Software engineers at Morningstar build and maintain the applications that power the firm's work, and they do it in a culture built on independent thinking, evidence-based decisions, and continuous learning. Engineers are trusted to bring their own perspective and judgment to how the work gets done. That's not incidental to the culture here; it's central to it.
Product Manager
Product managers at Morningstar sit at the center of decisions that shape what gets built, and how it works. In Chicago, product managers work across areas including Credit Ratings; Data, Analytics & Research; Indexes; Investment Management & Services; and Corporate. Product managers are trusted to define what problems are worth solving and bring their own judgement to every stage of the process.
Research
Research at Morningstar spans markets, asset classes, and disciplines, all connected by the same purpose: give investors what they need to make confident decisions. Our independent research covers equities, managed investments, fixed income, alternatives, private markets, ESG and climate, and credit ratings. Analysts bring their own judgment to complex questions, and that independence is central to how the work gets done.
Similar Jobs at Morningstar
What you need to know about the Chicago Tech Scene
Key Facts About Chicago Tech
- Number of Tech Workers: 245,800; 5.2% of overall workforce (2024 CompTIA survey)
- Major Tech Employers: McDonald’s, John Deere, Boeing, Morningstar
- Key Industries: Artificial intelligence, biotechnology, fintech, software, logistics technology
- Funding Landscape: $2.5 billion in venture capital funding in 2024 (Pitchbook)
- Notable Investors: Pritzker Group Venture Capital, Arch Venture Partners, MATH Venture Partners, Jump Capital, Hyde Park Venture Partners
- Research Centers and Universities: Northwestern University, University of Chicago, University of Illinois Urbana-Champaign, Illinois Institute of Technology, Argonne National Laboratory, Fermi National Accelerator Laboratory
