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Type of Role: Investments

Experience Level: Intern - Undergraduate

Location: Minneapolis, Minnesota

Salary: $42K - $60K

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed.  We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.

Job Description

Our Asset Management teams

U.S. Bancorp Asset Management (USBAM) and PFM Asset Management (PFMAM) are separately registered SEC investment advisors providing investment management services to institutional investors that include corporations, non-profits, and public sector entities. USBAM’s core strength and focus is on managing investment grade fixed income strategies, with more than $166 billion in assets under management as of June 30, 2023. PFMAM offers a variety of investment solutions including liquidity management, investment grade fixed income, and Outsourced Chief Investment Officer (OCIO) with more than $210 billion in assets under administration as of March 31, 2023.


What you’ll do

Our 10-week paid internship will provide you with the foundational knowledge on how asset management meets clients’ needs. You will be exposed to diverse roles broadly focused on quantitative and qualitative analysis, financial modeling, due diligence, strategy research, presentations and reporting, data management, and client service and transactions across key investment entities. You will receive accelerated learning and skill development through a mix of on-the-job training, mentorship, a community of peers and advisors, and a pathway to our full-time Asset Management Development Program upon graduation.

As an Asset Management Intern, you’ll:

  • Get hands-on experience working on projects that impact the business such as:
    • Performing research, analysis, review, development, implementation, and monitoring of new and/or revised products/services.
    • Analyzing current costs and estimates the cost or cost savings and enhanced benefits that may be achieved by implementing a recommendation.
    • Compiling and analyzing information for an assigned project or area and making recommendations based on findings.
    • Co-leading and influencing a working team of project staff.
    • Acting as a project liaison with other departments.
  • Develop technical and business acumen through training, mentorship, and exposure to senior executives
  • Build a supportive community of peers through a variety of cohort strengthening activities such as social events, volunteer days, and development workshops

Who we’re looking for

Are you an analytical individual who loves to use numbers to understand the root-cause of an issue or to provide recommendations? Do you find fulfillment in using qualitative and quantitative analysis or financial modeling to tell a story? If you have skills in business management, communications and problem-solving, with interests in consulting and investment management, then the Asset Management Internship may be right for you!


Basic qualifications:

  • Pursuing a bachelor’s degree with a target graduation date of December 2024 or May 2025
  • Basic understanding of Financial/Accounting terms, concepts, and applications
  • Ability to start internship program on June 10, 2024


Preferred qualifications:

  • Strong interest in finance, consulting and/or investment management
  • Exceptional communication and presentation skills
  • Strong work ethic with a proactive, flexible attitude and a desire to pitch in wherever needed
  • Developed problem solving skills and a solutions-focused approach to addressing challenges
  • Outstanding teamwork and project execution skills with multitasking capability
  • Unwavering integrity and ethics
  • Proficient in Office 365, with strong skills in Excel


Working model and hours:

This role is hybrid. Interns who are in a hybrid role typically spend three days a week at the listed U.S. Bank location(s), while having flexibility on their work location for the other working days.

Interns work approximately 40-hours each week during the internship.


The application process

If you are interested in applying and learning more, click on the Apply Now icon to submit your application. Most applications will be closed on September 29, 2023.


Internship benefits

  • Meaningful, hands-on work that impacts the business
  • Networking opportunities with senior leadership, U.S. Bank team members, and interns
  • Option for sign-on bonus
  • Potential for a fulltime offer upon graduation into a rotational program


If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.

Learn how the way we work at U.S. Bank drives meaningful relationships with our customers and collaboration across the company.


Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That’s why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):

  • Healthcare (medical, dental, vision)
  • Basic term and optional term life insurance
  • Short-term and long-term disability
  • Pregnancy disability and parental leave
  • 401(k) and employer-funded retirement plan
  • Paid vacation (from two to five weeks depending on salary grade and tenure)
  • Up to 11 paid holiday opportunities
  • Adoption assistance
  • Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

EEO is the Law

U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors. Applicants can learn more about the company’s status as an equal opportunity employer by viewing the federal KNOW YOUR RIGHTS EEO poster.


U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services. Learn more about the E-Verify program.

The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, US Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401k contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $20.00 – $26.68 – $29.35