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$148k–$226k/yr
Full-time
bachelor degree, postgraduate degree
401k match, Stock ownership potential, Life insurance, Medical insurance, Dental insurance, Vision insurance
Posted 4d ago
~40 hrs/week
Responsibilities
The analyst will lead due diligence and research on private market investments, including private equity, credit, and infrastructure. They will also develop evaluation protocols and serve as a subject-matter expert on portfolio construction and risk management.
Requirements
Candidates must hold a bachelor's degree in a quantitative discipline with at least 5 years of relevant experience, or a graduate degree with 2+ years. Proficiency in financial modeling, statistical methods, and knowledge of private market asset classes is required.
Full job description
The Team:
Morningstar Retirement works with financial institutions to help defined contribution investors reach their retirement goals. We support more than $300 billion in assets under management and advisement across automated portfolio management, target date funds, and consulting.
The Role:
We are hiring an Investment Analyst to help lead asset manager due diligence and research on private markets investments used in our multi-asset portfolios. You will own coverage of private equity, private credit, infrastructure, and real assets, and you will be the person the team relies on for how these vehicles should be evaluated and sized in long-horizon portfolios.
The role suits someone who works independently, forms and defends their own views, and writes clearly.
It is based in our Chicago headquarters. We are working in-office 4 days/week.
Responsibilities:
Research and issue opinions on managed investments for use in multi-asset portfolios, with an emphasis on private markets and semiliquid vehicles.
Source, evaluate, and recommend investment opportunities across private equity, private credit, infrastructure, and property.
Lead due diligence and financial analysis on target investments, including cash flow, liquidity, and valuation modeling.
Develop and refine the protocols we use to evaluate and allocate to private vehicles in long-horizon portfolios.
Monitor fund performance and liquidity and conduct periodic meetings with private asset managers.
Serve as a subject-matter expert on portfolio construction, investment modeling, and risk for private markets exposures.
Work with product, distribution, and other teams to keep them apprised of research’s activities and help ensure that they are aligned with business needs.
Qualifications:
Bachelor’s degree in finance, economics, or another quantitative discipline (or foreign equivalent) and 5+ years of relevant experience; or a graduate degree and 2+ years.
Experience in multi-asset portfolio management.
Experience conducting due diligence and research on private investment vehicles at an endowment, foundation, family office, OCIO, or similar institution.
Working knowledge of private equity, private credit, infrastructure, and real assets, including the risk and return dynamics of each.
Applied experience with statistical and econometric methods used in finance, including numerical optimization and multiple regression.
Ability to develop new methodologies and defend them to an internal audience.
Proficiency in Excel and working knowledge of Python.
Clear written and verbal communication.
Experience working with colleagues and stakeholders across locations and time zones.
Preferred:
CFA and/or MBA.
Familiarity with private markets data tools such as PitchBook.
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
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
$147,550.00-226,233.33
Inclusive of annual base salary and target incentive
If you receive and accept an offer from us, we require that personal and any related investments be disclosed confidentiality to our Compliance team (days vary by region). These investments will be reviewed to ensure they meet Code of Ethics requirements. If any conflicts of interest are identified, then you will be required to liquidate those holdings immediately. In addition, dependent on your department and location of work certain employee accounts must be held with an approved broker (for example all, U.S. employee accounts). If this applies and your account(s) are not with an approved broker, you will be required to move your holdings to an approved broker.
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.
Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, institutional
investors in the debt and private capital markets, and alliances and redistributors. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $369 billion in AUMA as of Sept. 30, 2025. The Company operates through wholly-owned subsidiaries in 32 countries.
Offices: 22 W. Washington St., Chicago, IL 60602, US · Calle de Maria de Molina, 39, Madrid, Community of Madrid 28006, ES · 1 Toronto St, Suite 500, Toronto, Ontario M5C 2V6, CA · 1155 Boulevard René-Lévesque O, Suite 2500, Montreal, Quebec H3B 2J6, CA · Rua Prof. Atílio Innocenti, 165, sala 3-123, Vila Nova Conceição, São Paulo, SP, BR
Based on 3590 listings with disclosed salaries, most consulting jobs in Chicago, IL pay between $70k–$190k per year. Individual offers vary with seniority, company size, and specialization.
How many Consulting jobs are open in Chicago, IL right now?
There are currently 4,403 open consulting positions in Chicago, IL listed on Clera. New openings are added daily as companies post roles.
Which companies are hiring for Consulting roles in Chicago, IL?
Companies currently hiring include Publicis Groupe Holdings B.V., Northern Trust Asset Management, Huron, JPMorganChase, Sargent & Lundy, among others. Browse the listings above to see every active employer.
Are there remote or hybrid Consulting jobs in Chicago, IL?
Yes — 2699 of the 4403 open consulting positions offer remote or hybrid work (615 remote, 2084 hybrid).
How do I apply for Consulting jobs in Chicago, IL?
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