At Northland, our employees are the heart of our story—and we’re committed to their success! Please see below the details of this career opportunity and how it fits into our organization’s success.

Summary of the Job:

Northland Capital Markets is one of the most active investment banks serving growth companies, completing more than 50 financings in 2025 and raising more than $15 billion as sole manager over the past two years. With offices in Minneapolis, Minnesota, and Ridgewood, New Jersey, the firm has advised on significant and pioneering transactions in digital infrastructure and AI. Northland pairs a full suite of capital markets products with sophisticated strategic advice, and its dedicated digital infrastructure, AI, and drones & robotics practices serve some of the fastest-growing sectors of the market. Following a series of senior banking hires that have broadened its products and services, Northland is expanding its investment banking team and seeking Analysts motivated by helping build the platform.

About This Role:

The Investment Banking Analyst Internship is the first step in Northland's investment banking career path and precedes the full-time Analyst position. Interns work on live deal teams under the guidance of Analysts and Associates, alongside senior bankers, across public equity offerings, private placements, PIPEs, convertible securities transactions, and M&A advisory engagements. The work is demanding and requires the ability to perform under pressure, meet tight deadlines, and produce accurate work on short notice. Interns build and update comparable company, precedent transaction, capitalization, and dilution analyses; prepare pitch books, management presentations, and transaction materials; conduct company, industry, and market research; and support due diligence and transaction tracking. Interns are expected to contribute meaningfully from the start, and exceptional performance is the primary pathway to a full-time Analyst offer.

The Ideal Candidate for This Role:

Recent graduates of bachelor's or master's programs, or students graduating by December 2026, with a strong preference for candidates holding degrees in finance, accounting, engineering, mathematics, statistics, computer science, physics, or another quantitative discipline
Strong academic record, ideally from a top-tier university with a rigorous quantitative curriculum
Minimum 3.5 cumulative GPA
Prior internship or relevant experience in investment banking, private equity, equity research, credit, transaction advisory, valuation, or another role involving financial analysis and modeling
Demonstrated financial modeling proficiency, including the ability to independently build a three-statement model, trading comparables, precedent transactions, and a DCF
Strong command of accounting, valuation methodologies, and financial statement analysis, with the ability to articulate and defend key assumptions
Working understanding of capital structure, including equity and debt instruments, leverage, dilution, and liquidity
Familiarity with equity-linked securities, convertible and preferred securities, capitalization and dilution analysis, credit analysis, or other complex financing structures
Advanced Excel proficiency and comfort working with large financial, market, and transaction data sets; experience with Python, SQL, or other analytical tools is a plus
Demonstrated ability to conduct rigorous company and industry research and translate quantitative analysis into clear, concise client- and investor-facing materials
Strong analytical reasoning, attention to detail, intellectual curiosity, and the ability to perform under pressure and meet tight deadlines
Maturity and judgment to work directly with senior bankers, client executives, boards, and investors
Demonstrated interest in investment banking and the capital markets
SIE, Series 7, 79, and 63 required, or ability to obtain within 180 days of start
Must meet the firm's U.S. work-authorization requirements; applicable sponsorship restrictions should be clearly stated in the posting

Preferred Candidate Profile

The ideal candidate combines a strong quantitative academic background with hands-on financial modeling experience, exceptional analytical ability, and a demonstrated interest in capital markets. Candidates who can independently build, interpret, and defend financial models and apply quantitative skills to complex financing transactions are especially encouraged to apply.

Candidates must possess unrestricted work authorization and not require future sponsorship.

Work Environment:

It is anticipated that the incumbent in this role will work onsite at the posted location. Our onsite environment fosters innovation, mentorship, and a vibrant culture where ideas flow freely and relationships flourish. As part of our team, you'll experience the energy of our collaborative spaces designed to support your professional growth while working alongside talented colleagues who inspire excellence daily. Please note that work location is subject to change based on business needs.

Compensation and Benefits Overview:

We offer a variety of benefits designed to keep you and your family physically and financially healthy. Not only do we offer a competitive salary and work-life balance, we offer benefits to match your needs:

Medical, Dental, Vision Insurance
401k, With Matching Contributions
Time Off Programs
Health Savings Account (HSA)/Dependent Care
Employee Banking
Growth Opportunities
Tuition Assistance
Short-Term/Long-Term Disability Insurance

Learn more about our benefits here: https://www.fnbo.com/careers/benefits/.

To obtain compensation and benefit information related to this specific role, e-mail First National at TAGAdmin@fnni.com. To ensure you receive a response, include the number of this job (listed below) in the subject line of your message.

Job number: R-20261938

Equal Opportunity & Belonging:

We believe that the quality of our employee experience is at the heart of our customer experience. One key pillar of our intended employee experience is Belonging. Belonging means we are committed to fostering a workplace culture where employees of all backgrounds feel valued, recognized, and empowered to be their authentic selves—no matter their role or where they are in their journey.

Learn more here.

Northland is an equal opportunity employer for all employees and applicants and makes employment decisions without regard to status or identity.

Click here to download 'EEO is The Law' Self-Print Poster

Click here to download 'EEO is The Law' Supplement for Federal Contractors

Click here to download 'EEO is The Law' GINA Supplement

Northland is an Equal Opportunity/Affirmative Action/Veterans/Disability Employer - Member FDIC

Northland follows federal law regarding the use of marijuana (this applies to all non-California applicants)

Application Deadline:

All our jobs will be posted for a minimum of 5 calendar days. Job postings may come down prior to 5 calendar days based on volume of applicants.