Summer 2026 Intern - Investments Municipal Bonds

As a State Farm intern, you will have the opportunity to collaborate with experienced professionals, contribute to meaningful projects, and make a real impact. Our internship program provides students with valuable training, mentorship, and networking opportunities while being fully immersed in the day-to-day operations of a Fortune 50 company. At State Farm, we believe our interns are the future of our company, and we are committed to helping you succeed!

The State Farm Investment Department is a leading investment manager, entrusted with managing over $400 billion in assets to support the leading personal auto and home insurer in the United States. State Farm is a Fortune 50 company and is consistently recognized as a top employer in the United States. In the State Farm Investment Department, we manage a multi-billion-dollar investment portfolio across various asset classes - Corporate Bonds (Public and Private), Municipal Bonds, Structured Products (ABS, RMBS, CMBS), Sovereign Debt, Private Equity, Public Equity, Commercial Mortgage Loans, and Real Estate. Through sound investment strategies, the Investment Department helps State Farm remain financially strong so our customers can manage the risks of everyday life, recover from the unexpected, and realize their dreams. As a member of our high performing team, you will interact with senior Investment Department staff, as well as receive several cross-asset learning opportunities. We will rely on you as a key partner to assist with due diligence research, financial modeling, and investment decision-making. Investment interns will be a part of State Farm's growing investment platform at CityLine in Richardson, Texas, within the fast-growing Dallas-Fort Worth metro area.

We are looking to hire interns to work within the Municipal Bond asset class.

What You'll Do

• Perform credit analysis on existing portfolio holdings and potential new investments, including analysis of the economic, demographic, and financial characteristics of municipal bond issuers such as state and local governments, school districts, utility systems, institutions of higher education, and toll roads within State Farm's $52 billion municipal bond portfolio
• Conduct research on sector trends and developments within the segments of the municipal market
• Present analytical conclusions and recommendations in a collaborative, team-based environment
• Present investment recommendations to senior leaders and experienced investment professionals through written reports and oral presentations

What's In It for You

• An inside look into the management of a large municipal bond portfolio
• Gain a deeper understanding of the investment industry, State Farm's investment philosophy, and other asset classes within the Investment Department
• Engage and participate in a dynamic and collaborative team culture
• Receive personalized mentoring and coaching from experienced professionals to further your individual development
• Network with senior leaders and external investment industry professionals
• Collaborate and build relationships with other talented interns
• Create experiences that can be leveraged throughout your future career
• Join a culture that embraces healthy discourse and promotes diversity and inclusion

• Current GRADUATE students who have completed first year graduate studies by start of the summer internship. Master of Public Policy, Master of Public Administration, Master of Business Administration, or Master of Finance candidates preferred
• Evidence of academic (3.5 GPA or above preferred) and personal achievement
• Coursework in areas such as, state and local tax policy, economics, statistics, fixed income investments, or state and local governmental accounting preferred
• Analytical, inquisitive, energetic, detail oriented, and self-driven with strong written and verbal communication skills and an ability to articulate and support research findings
• Ability to collaborate and engage in a dynamic team setting
• Initiative and drive for continuous learning
• Applicants must be authorized to work in the United States at the time of hire

Internship Information

• Location: Richardson, TX
• Our internship will occur June 1, 2026 to August 7, 2026.
• Competitive candidates will be invited to participate in online interviews during the fall of 2025
• Pay: $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 time and working from home)

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

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