Magnetar
From Magnetar's careers page
Status: listed on the employer's own careers page when we last checked (daily). Confirm on their site before applying.
We hope you’ll consider joining us as you explore a career at Magnetar!
Magnetar is a leading global alternative asset manager with $17B+ AUM as of June 30, 2026. We are based in Evanston, IL—just north of Chicago and easily accessible by the “L”—with additional offices in New York, London, Menlo Park, CA, and Austin, TX.
Grounded in two decades of investing experience, we aim to generate consistent performance for our investors by identifying differentiated investment opportunities and building scalable businesses across our core strategies: Alternative Credit and Fixed Income, Quantitative Investing, and Venture.
Magnetar employees are among the best in the business at what they do. Our employees thrive on intellectual curiosity, collaboration and identifying creative solutions to complex problems. Our team is made up of highly skilled, passionate professionals who care deeply about delivering results for our investors, our firm and one another. We are proud to foster an inclusive, welcoming environment that empowers each employee to succeed.
At Magnetar, our commitment to our employees matches our dedication to our work. We offer top-tier benefits including comprehensive health, dental and vision insurance, a 401k match, competitive paid time off, wellness programs, daily lunches, and professional development through Magnetar University. We are also passionate about giving back, supporting financial education and community engagement through our Foundation and various volunteer initiatives.
We hope you’ll consider joining us as you explore a career at Magnetar!
Position Overview
We are seeking a highly capable and driven Strategy Associate to join the Chief Development Officer’s team (“CDO”), a group focused on advancing the firm’s new businesses, strategic initiatives, joint ventures, and investment opportunities.
The Strategy Associate will play a role in shaping, structuring, and executing the firm’s growth agenda — from early-stage opportunity assessment through deal execution and transition into the firm’s functional and operating teams. The work spans financial modeling, investment analysis, strategic planning, partnership structuring, and cross-functional coordination.
This is an ideal role for someone with a strong analytical and transactional foundation who is looking for a broader, more entrepreneurial mandate — one that combines rigorous analytical work with strategic judgment and the opportunity to help build new businesses from the ground up.
Construct detailed financial models for existing and new strategies and businesses as well as investment opportunities — including scenario analysis, sensitivity testing, and valuation frameworks.
Prepare presentations detailing objectives, rationale, and recommendations for contemplated initiatives, partnership structures, and investment opportunities for senior leadership.
Conduct research and analysis to rapidly develop fluency in new industries, asset classes, counterparties, and opportunity spaces as the mandate evolves.
Assist in the coordination and implementation of strategic initiatives and new business efforts across various groups within the firm, serving as a connective thread between parties.
Support the structuring and negotiation of joint ventures, external partnerships, and new business arrangements — including reviewing and distilling legal and structuring documentation such as JV agreements, partnership terms, and fund documents.
Prepare materials for various firm committee presentations.
Develop transition documentation and handoff packages as new businesses move from the CDO function into the operating structure.
Track and communicate workstreams, milestones, and deliverables across active initiatives, ensuring nothing falls through the cracks during execution.
Serve as a cross-functional resource, engaging with teams across the firm to understand the operational, regulatory, and structural requirements of new business builds.
4-5 years of experience in investment banking, corporate development, private equity or a related transactional role with a strong foundation in financial modeling, valuation, and transaction execution. Experience in M&A, restructuring, capital markets, or financial sponsors coverage a plus.
Exceptional financial modeling skills with the ability to build and maintain complex, dynamic models from scratch.
Advanced PowerPoint skills with the ability to produce clear, polished, and executive-ready presentations.
Strong written and verbal communication skills — able to synthesize complex information into concise, well-structured memos, summaries, and recommendations.
Comfort with legal and structuring documentation — ability to read, interpret, and distill JV agreements, term sheets, partnership terms, and fund documents without requiring legal training.
Strong research and synthesis capabilities — able to quickly develop informed views on unfamiliar industries, markets, and counterparties.
Proficiency in Excel and financial data platforms.
Personal and Behavioral Competencies
High level of intelligence, internal drive, intellectual inquisitiveness, eagerness, and analytical ability – with a genuine interest in understanding how the firm’s investment, operational, legal/compliance, and business development functions interconnect.
Quantitative, strategic, and tactical mindset with the ability to move fluidly between big-picture thinking and detailed execution.
Comfort with ambiguity and shifting priorities — new mandates arrive on short notice and the ability to reprioritize without losing quality is essential.
Low ego, high ownership — willingness to do whatever the workstream requires, from building a model to coordinating a call to formatting a deck.
Proactive rather than reactive — anticipates what’s needed, identifies gaps, and mobilizes to fill them.
Judgment and discretion — the work involves sensitive strategic and commercial matters, and the role requires mature handling of confidential information.
Optimistic attitude with willingness to contribute however and wherever possible or required. Seeks out an environment with the potential to rapidly assume additional challenges and responsibilities.
Ability to operate independently while collaborating across disciplinary teams and contributing to a cooperative and entrepreneurial environment.
Demonstrated ability to deal with high-pressure situations, seek out solutions, and work with others to resolve problems in a timely and effective manner.
Exercises a high level of motivation and independent judgment.
The annual base salary range for this position is $125,000 to $200,000 USD. The actual base salary will depend upon the candidate’s relevant experience, qualifications, skills, business needs and market. This role may be eligible for a discretionary bonus and if awarded is based on a variety of factors including firm and individual performance.
Applicants must be authorized to work in the United States without the need for employer sponsorship now or in the future.
We verify human presence and geolocation before processing your application in order to prevent applications from bots. All applicants have 48 hours to complete verification, if left incomplete, your application will be withdrawn. If you have questions regarding identity verification or need further assistance or accommodation in completing the verification, please contact careers@magnetar.com.
Disclaimer
The above statements are intended to describe the general nature and level of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties, and skills required of personnel so classified. All personnel may be required to perform duties outside of their normal responsibilities from time to time, as needed.
AI Disclaimer
Magnetar uses AI tools such as Claude, an AI assistant developed by Anthropic, to support certain recruiting and talent acquisition activities, such as tracking candidates’ status in the recruiting process, interviewer preparation, and interviewer feedback consolidation. These tools may facilitate recruiting and hiring-related processes. Information processed may include application materials, resumes, interview notes, interviewer feedback, candidate status information, and related communications. Magnetar uses an enterprise version of Claude that operates in a closed-loop environment and does not permit information processed by the system to be publicly available.
The AI tool currently used for these purposes is Claude, an AI assistant developed by Anthropic. Magnetar uses AI for the following types of positions: exempt positions.
Hiring decisions are made by authorized Magnetar personnel. No AI tool makes or determines any employment decision. AI-generated output is used only as a support tool and is subject to human review. Magnetar does not rely solely on AI-generated output, including any score, tag, classification, ranking, recommendation, or similar output, with no other factors considered. Magnetar also does not use any such output as one of a set of criteria where the AI-generated output is weighted more than any other criterion, or to overrule conclusions derived from other factors, including human decision-making.
Magnetar will not use artificial intelligence with respect to recruitment, hiring, promotion, renewal of employment, selection for training or apprenticeship, discharge, discipline, tenure, or the terms, privileges, or conditions of employment in a manner that has the effect of subjecting employees or applicants to discrimination on the basis of protected classes under the Illinois Human Rights Act or any other appliable law, or use zip codes as a proxy for protected characteristics.
Fraudulent Job Alert
Magnetar is aware of fraudulent job post schemes, such as phishing emails, that invite candidates to apply and interview for positions at Magnetar. We take this matter very seriously. Please be aware that Magnetar does not send unprompted emails soliciting applications or offering interviews. If you have applied for a position at Magnetar through our Careers Page, any follow up communication will come from “@magnetar.com”. Any emails from accounts that do not end in “@magnetar.com” are fraudulent. Suspicious messages can be reported to Magnetar at careers@magnetar.com.
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