2027 Public Finance Summer Analyst- San Francisco | Stifel | Handshake

About Stifel Public Finance

Stifel’s Public Finance team operates at the intersection of capital markets and public impact – advising city, state and local government and not-for-profit clients as they raise capital to build, modernize, and sustain essential infrastructure. You will see the full spectrum of municipal finance: from flagship state and city issuers and large-scale economic development projects to school districts and smaller communities—each with real-world budgets, complex stakeholder dynamics, and time-sensitive execution needs.

Stifel ranked #1 as senior or sole manager for negotiated municipal bond issues for the twelfth consecutive year (2025)—pricing more than one in every ten negotiated issues in the nation from a Stifel desk. With ~250 professionals across 44 offices, you’ll join a national platform with the deal flow, resources, and mentorship that define a top-tier investment banking experience.

Stifel is an Equal Opportunity Employer and our employees, across all subsidiaries and affiliates, are people with different strengths, experiences and backgrounds, who share a passion for Finance. We view diversity holistically – it includes race, gender identity, age, disability status, veteran status, sexual orientation, religion, and many other parts of one’s identity. The range of our employees’ points of view are key to our success, and inclusion is everyone's responsibility.

Position Description: Summer Analyst Program

Stifel’s 9-week Summer Analyst Program is a fast-paced, hands-on introduction to the Analyst role in public finance investment banking. You will work directly with deal teams – from Analyst through Managing Directors – supporting live transactions and pitches across a broad range of public finance sectors. Summer Analysts are expected to manage multiple workstreams at once, producing high-quality analysis and client-ready materials that contribute to both idea generation and transaction execution.

Responsibilities

Summer Analysts play a meaningful role on the deal team—conducting market and issuer research, building and refining financial models (including analysis of outstanding bonds and potential refundings/new-money financings), preparing polished client presentation materials, and supporting transaction execution from kickoff through pricing.

The Summer Analyst role includes, but is not limited to, the following core responsibilities:

• Analyze municipal issuers and borrowers across diverse sectors (general government, K-12, pensions, economic development, higher education, and more), synthesizing credit, financial, and operating trends into clear takeaways for senior bankers and clients Drive sector and market research, build and maintain databases, and develop comparable-issuer / comparable-transaction analyses to support business development and execution

• Create client-ready materials—pitch books, market updates, and transaction summaries—with an emphasis on accuracy, clarity, and a professional “banker-ready” finish

• Partner with deal teams to execute financings—supporting due diligence, document review, scheduling, and coordination across internal partners and external working groups

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Perform in-depth quantitative analysis, including cash flow and debt service modeling, scenario/sensitivity analyses, and evaluation of refunding opportunities

Qualifications

Summer Analyst candidates should demonstrate outstanding academic performance, a track record of leadership, and a genuine interest in markets, municipal/public policy, and the analytical rigor of investment banking. We value candidates who have challenged themselves—through student leadership, athletics, entrepreneurial initiatives, research, or other high-impact commitments—and who bring intensity, curiosity, and a team-first mindset.

The ideal candidate will bring the following:

• Strong quantitative and analytical skills; comfort working with large data sets and drawing clear, defensible conclusions

• Exceptional attention to detail and pride in producing error-free, client ready work

• Disciplined work ethic with the stamina to perform in a deadline-driven environment

• Strong written and verbal communication skills, with the ability to explain complex analysis succinctly

• Ability to prioritize and manage multiple simultaneous deadlines while maintaining high standards

• Advanced proficiency in Excel and PowerPoint (modeling, sensitivity analysis, and professional presentation design)

• Exposure to finance and accounting and/or quantitative modeling through coursework, projects or prior experience

• Prior financial modeling and analytical experience preferred

• Ability to work in teams

• Highly motivated, proactive, and energized by a steep learning curve

• Demonstrated interest in finance, markets, and public policy, and a desire to understand how capital markets shape communities

• Minimum GPA: 3.5

• Anticipated graduation date: December 2027 – May 2028

• Available to start