Role Overview

The Investment Associate will play an important role in Dodge & Cox's fixed income investment process and be part of a lean investment team, with a primary emphasis on credit investing, but opportunities to work alongside investment professionals across the firm.

The Associate will develop a comprehensive set of skills centered on credit investing, work directly with senior investment professionals, and have the opportunity to meet with management teams representing the largest companies around the world. The bulk of training occurs on the job, supplemented by formal sessions on an interim basis. This person will also gain exposure to firm-wide investment ideas through ongoing research and portfolio management meetings.

Investment Associate projects are wide-ranging. As a member of the fixed income investment team, this person will support senior professionals in all aspects of the investment process: identifying new opportunities, conducting research and analysis, advocating to investment committees, and managing portfolio exposures.

This is a two-to-four-year position, after which candidates generally pursue other professional opportunities or enroll in business school. Research Associates have gone on to attend business schools including Stanford, Harvard, Wharton, The University of Chicago, and INSEAD.

Key Responsibilities

• Analyze domestic and international corporate and government borrowers, and assist in the preparation of research reports; processes include data collection, fundamental due diligence, financial analysis, and assessment of valuation and potential returns
• Use data to construct and maintain portfolio analysis tools
• Update and maintain research reports on existing portfolio investments
• Prepare client presentation exhibits and reports

Ideal Candidate Profile

• High level of academic and professional achievement, and future growth potential
• Demonstrated interest in financial markets and investing
• A commitment to high-quality performance and strong attention to detail
• Intellectual curiosity and a drive to learn and improve
• An ability to collaborate effectively within a team-oriented environment
• Initiative and ability to manage multiple projects simultaneously
• Strong verbal and written communication skills

Qualifications

• One to two years of related work experience or an undergraduate experience that demonstrates exceptional potential
• B.A. or B.S. degree and an excellent academic record
• Coursework in economics, statistics, accounting, and finance is a plus
• Strong quantitative and analytical skills, including experience with financial modeling
• Proficiency with MS Excel and PowerPoint
• Coursework or demonstrated experience in corporate finance or valuation is a plus
• Familiarity with AI tools (e.g., Claude, Copilot) and willingness to apply them to research workflows

Requirements:

• Dodge & Cox has a 4/1 hybrid work model, and all Dodge & Cox employees are required to be in their assigned office as noted in the job posting Monday - Thursday each week, with the option to work remotely on Friday.

The salary range for this position is $155k - $180k.

The listed pay scale denotes only the pay range of the base salary and does not include discretionary bonus compensation, which may make up an important portion of the total remuneration.  Dodge & Cox encourages applicants to consider the value of the many competitive benefits it offers, including coverage of 100% of all healthcare premiums for employees and their families and fully funding a retirement plan at 25% of the total compensation to the IRS limit.  Dodge & Cox also provides additional benefits such as commuter, health & wellness, backup care, matching gift, employee assistance, and life and disability insurance. The listed pay scale reflects the base salary Dodge & Cox reasonably expects to pay for this position and is not a reflection of the highest and lowest base salary of any current Dodge & Cox employee.  Actual base salary will be based on factors such as the candidate's prior relevant experience (including within and external to Dodge & Cox, as applicable), education, skills, and knowledge.

The job description above is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. It is the Company’s policy to provide equal opportunity to all persons without regard to race, color, religion, sex, pregnancy, marital or domestic partner status, sexual orientation, gender identity or expression, age, ancestry, national origin, disability, or medical condition, as defined in state and federal laws.  This policy covers all aspects of employment including, but not limited to, recruitment, selection, training, promotion, transfer, compensation, demotion, and termination. By applying for a position with Dodge & Cox, you acknowledge that you have read our EEO Policy

All Dodge & Cox employees must adhere to the Firm’s security policies and Code of Ethics. Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.