Investment Consulting Graduate Internship Program

Job Description

Internship Overview

NEPC is seeking four (4) summer interns to join our Investment Consulting Graduate Internship Program. Interns will work in a hybrid capacity based in our Boston, MA headquarters. Participants will be assigned to meaningful, project-based work across several teams within the firm, including Investment Manager Research, Taft-Hartley, Public Funds, Portfolio Construction, and the OCIO team.

NEPC has designed this merit-based program to attract and support diverse talent in the investment industry. The program is intended to enhance talent maximization by actively encouraging applications from individuals with a wide range of backgrounds, experiences, and perspectives.

Upon successful completion of the summer internship, interns may be considered for permanent employment, contingent on business needs. This program offers an excellent foundation for those interested in a career in institutional investment consulting. Throughout the summer, interns will participate in learning and development opportunities designed to provide broad exposure to various asset classes and the processes that drive positive investment outcomes for our clients. If you are motivated to learn, grow, and contribute in a fast-paced, collaborative environment, we encourage you to apply!

Internship Requirements

• Applicants should be actively pursuing an MBA or master’s degree, preferably in Finance or Economics.
• We are seeking candidates with at least a year of prior exposure to the investment industry through professional experience.
• The ideal candidate will possess strong analytical skills, excellent written and verbal communication abilities, and proficiency with Microsoft Office (Excel, Word, PowerPoint).
• Attention to detail, a proactive mindset, and a willingness to learn are essential.
• Certain projects may require additional technical skills, which will be outlined in the individual project descriptions.

Location: Boston, MA (hybrid)

Assignment Summaries

Each intern will be assigned to one of the four projects below to work on for the entirety of the summer.

Real Assets (Project 1): Liquid Real Assets Market Education & Implementation

The intern will lead a research initiative focused on liquid real assets, including listed infrastructure, natural resource equities, and commodities. Responsibilities include conducting independent research using NEPC systems and data to develop educational materials for client presentations, covering market size, investment considerations, historical performance, and benchmarks.

The project will also involve evaluating portfolio implementation considerations and developing recommendations around the role of liquid real assets in institutional portfolios. This includes assessing appropriate strategies, comparing active versus passive approaches, and analyzing implementation structures such as dedicated mandates versus diversified managers.

Throughout the internship, the intern will collaborate with the investment team to refine conclusions while also forming independent viewpoints supported by research and data. The work will culminate in practical guidance and implementation recommendations designed for NEPC’s diverse institutional and wealth client base. This project will provide exposure to investment managers across both liquid and private real asset strategies, while strengthening skills in investment research, critical thinking, organization, and client-facing presentation development.

Taft-Hartley & Public Funds (Project 2): Multi-Employer Market Map

The intern will conduct a market canvassing project focused on identifying medium to large retirement plans that currently utilize banks or broker advisors with primarily transactional advisory models. This work will involve researching and mapping the competitive landscape, identifying plan structures, and determining key decision makers across prospective organizations.

Using tools such as MS Excel and online research platforms, the intern will partner with internal consultants and analysts to organize findings and help prioritize high-potential prospects for targeted outreach campaigns. The project is designed to uncover new business opportunities by identifying segments of the market that NEPC has not historically targeted.

The intern will collaborate closely with the Taft-Hartley and Public Fund teams, leading internal discussions to brainstorm outreach strategies and ultimately presenting findings and recommendations to senior team members. They will also have the opportunity to participate in introductory prospect calls, assist with documentation, and support follow-up efforts. Through this project, the intern will gain hands-on experience in market mapping, business development strategy, cross-team collaboration, and client engagement.

Outsourced Chief Investment Officer – OCIO (Project 3): RIA Education & Communication

This project will focus on evaluating how NEPC’s institutional-quality research and materials can be most effectively communicated to Registered Investment Advisors (RIAs) and their end clients. The intern will assess existing NEPC content and identify optimal messaging approaches, formats, and delivery and access points to ensure materials are scalable, compliant, and aligned with the needs of the RIA channel.

The intern will work cross-functionally with our internal consulting, investment, and compliance teams, and may also collaborate with the compliance team and RIAs at our parent company. As we continue to centralize research, this project will help position NEPC as a core component of the platform by strengthening brand visibility and improving the operational delivery of research to a broad and growing audience.

Through this work, the intern will contribute to both brand strategy and the implementation of research delivery processes, while deepening investment knowledge and strengthening business writing and communication skills. The fast-paced nature of the investment environment will provide opportunities to work independently, synthesize diverse viewpoints, and build alignment across multiple stakeholder groups.

Portfolio Construction (Project 4): Portfolio Monitoring & Peer Analysis

This intern will support the Portfolio Construction team in developing a repeatable process to analyze and monitor portfolios across NEPC’s client base, with the objective of identifying key trends and insights to enable a more proactive portfolio advisory approach. The intern will help design an analytical framework and contribute to a research report focused on portfolio performance, asset allocation, and related metrics.

The analysis will be conducted at both the total client level and within specific client segments, including defined benefit plans, defined contribution plans, and endowments and foundations. Using data sourced from NEPC systems and tools such as FactSet or Bloomberg, the intern will assist in organizing, analyzing, and synthesizing data to uncover meaningful patterns and areas of focus for research teams and senior leadership. Experience with Python, R, or AI-enabled analytical tools is a plus but not required.

This project will support the creation of peer universes that allow client teams to better contextualize individual portfolios relative to broader client groups. Through this work, the intern will gain exposure to institutional portfolio management across NEPC’s client base and learn how the research team transforms data-driven insights into actionable research and portfolio recommendations.

Compensation

This is a paid internship, offering hourly compensation in the range of $30–$40. Individual compensation and level are based on a variety of factors, including experience, education, certifications, location, responsibilities of the role, internal equity, and alignment with market data.

Company Background

NEPC, LLC is a full-service investment consulting firm based in Boston, Massachusetts. NEPC was founded in 1986 and now has approximately 375 employees and over 425 clients. We provide a variety of consulting services such as asset allocation, performance measurement, policy formulation, investment manager research, and discretionary portfolio management. Our clients include defined benefit, defined contribution, endowments, foundations, trusts, public, corporate, Taft-Hartley, health & welfare, high net worth, insurance, and private plans. NEPC’s mission is to help our clients build successful investment programs, using diverse and proven strategies to enhance returns while minimizing risk. We’re a fun (but demanding) company with excellent working conditions and a very supportive team-oriented environment.

NEPC is an Affirmative Action/Equal Opportunity Employer (2026)