Summer 2027 Intern - Investments - Private & Public Equity

Overview

Being good neighbors – helping people, investing in our communities, and making the world a better place – is who we are at State Farm. It is at the core of how we operate and the reason for our success. We're moving with urgency to become a Next Gen Good Neighbor, with technology that strengthens human connections and enhances the customer experience. As an employee, you'll spend less time navigating systems and more time applying judgment, empathy, and expertise in the moments that matter most.

Grow Your Skills, Grow Your Potential

Responsibilities

The State Farm Investment Department manages more than $400 billion in assets in support of one of the leading personal auto and home insurers in the United States. As an investment intern, you will gain hands-on experience working alongside professionals responsible for managing a large and diversified institutional investment portfolio.

The Investment Department manages assets across a broad range of asset classes, including:

• Public and Private Corporate Bonds
• Municipal Bonds
• Structured Products, including ABS, RMBS, and CMBS
• Sovereign Debt
• Private and Public Equity
• Commercial Mortgage Loans
• Real Estate

This internship is focused on Private and Public Equity. Interns will work at the State Farm CityLine campus in Richardson, Texas, within the Dallas-Fort Worth metropolitan area.

Separate internship opportunities within the Investment Department are also available in:

• Fixed Income (Corporate Bonds/Structured Products/Liquidity Management)
• Commercial Mortgage Loans and Real Estate

What You’ll Do

• Gain hands-on exposure to the State Farm Public Equity Team, which invests in high-quality publicly traded common stocks, and State Farm's Private Equity Team, which invests in domestic private equity partnerships.
• Support the Public Equity Team through research and analysis of existing investments as well as involvement in the identification and selection of prospective investments.
• Gather, analyze and evaluate information about companies using in-depth primary research obtained through company filings, quarterly earnings calls, management meetings and investor presentations.
• Assess a company's industry position, competitive differentiation, management team and key risk considerations, leading to a recommendation for potential inclusion in the State Farm equity portfolios.
• Assist in the screening and due diligence of private equity general partners to support the continued growth of the program.
• Prepare annual review presentations and gain exposure to private equity general partners as well as other industry contacts.
• Prepare written analysis and present findings for debate and discussion.
• Collaborate with colleagues across investment asset classes to share information, expertise and ideas.

What You’ll Learn and Gain

• Gain an inside look into the management of a growing lower middle-market private equity program with more than $10 billion of commitments, as well as exposure to a quality-focused, long-term oriented institutional equity manager with more than $170 billion in common stock holdings.
• Develop a deeper understanding of the investment industry, the State Farm investment philosophy, and other asset classes within the Investment Department.
• Contribute to a collaborative team environment that encourages thoughtful discussion and different perspectives.
• Receive personalized mentoring and coaching from experienced investment professionals.
• Network with senior leaders and external investment industry professionals.
• Collaborate and build relationships with other talented interns.
• Strengthen analytical, communication and presentation skills.

Qualifications

• Currently enrolled college students who will have completed their junior year by start of the internship.
• Cumulative GPA of 3.5 or higher preferred, with a record of academic and personal achievement.
• Coursework, relevant experience, or expressed interest in areas such as real estate, investments, accounting, financial statement analysis, economics, and corporate finance.
• Strong analytical, critical thinking, and risk assessment skills.
• Ability to work collaboratively as part of a team, as well as operate independently.
• Effective customer service and interpersonal skills, including the ability to create, build, and maintain relationships with internal and external parties.
• Excellent influencing, problem-solving, and communication skills.
• Strong prioritization, time management, and organizational skills to meet deadlines while maintaining attention to detail.
• A desire to continuously learn, develop expertise, and apply new knowledge into action.
• Authorized to work in the United States at the time of hire.

Internship Information

• Location: Richardson, TX
• Internship Dates: June 2, 2027 – August 11, 2027
• Interview Timing: Competitive candidates will be invited to participate in online interviews during the fall of 2026
• Hourly Rate: $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 and working from home, based on internship and business requirements

Our Benefits

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