Associate Private Credit Analyst, Investment Grade
Principal
Full-Time
Closes on Friday, January 30, 2026
Job Description
What You'll Do
We are looking to hire an Associate Private Credit Analyst to support our investment grade private credit investment strategy!
Primarily, you will perform in depth, bottom-up fundamental research on an assigned coverage universe and make investment recommendations to the portfolio management team. You will be responsible for the initial development of company valuation models and underwriting memorandums and will have the opportunity to contribute to other facets of the team’s investment process.
Additional:
- Evaluate private placement transactions, both investment and non-investment grade and including traditional private placements, infrastructure, structuring commitments, closing transactions, managing and monitoring existing investments
- Build financial models with both historical performance and pro forma projections
- Develop and maintain relationships with sources of deal flow
- Identify quality businesses with above average fundamentals long term investment horizon (typically 3-5 years)
- Make long-term investment recommendations for multiple portfolios
- Monitor existing investments within their assigned sector coverage
- Work with Head of Private Credit by making buy or pass recommendations
Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing about $580 billion in assets and over 60 years of experience. Principal Asset Management has been recognized as a “Best Places to Work in Money Management” for 14 consecutive years! Check us out at www.principalam.com!
Who You Are
- Bachelor's degree in technical field (i.e. finance, accounting, economics, statistics, engineering, data science, business analytics)
- 2+ years’ experience in fixed income strategies in credit analysis, investment banking, private credit, or a related field
- Strong proficiency with Excel and financial modeling
- Financial statement analysis and credit risk assessment experience
Skills That Will Help You Stand Out
- Experience in investment-grade lending, corporate credit analysis, or private placements
- Experience with the infrastructure sector
- MBA or CFA (or progress towards)
- Familiarity with credit analysis tools and databases such as S&P Capital IQ, Moody’s, or Bloomberg
- Accounting experience
- Demonstrated understanding of economics and investment theories
- An understanding of debt structures, interest rates, and market conditions affecting investment-grade credit
- Strong understanding of the private credit transaction process, including structuring, negotiation, and documentation
- Ability to build and maintain strong relationships with borrowers, sponsors, and external parties
Salary Range Information
Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.
Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)
$123000 - $167000 / year
Time Off Program
Flexible Time Off (FTO) is provided to salaried (exempt) employees and provides the opportunity to take time away from the office with pay for vacation, personal or short-term illness. Employees don’t accrue a bank of time off under FTO and there is no set number of days provided.
Pension Eligible
No
Location(s)
The position will be based out of Des Moines, IA. You can check out what our Global Headquarters in Des Moines looks like here:
Work Environments
This role offers the ability for in-office or four days in-office and one day remote. You’ll work with your leader to figure out which option may align best based on several factors.
Work Authorization/Sponsorship
At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.
Nonimmigrant Workers and Green Card for Employment-Based Immigrants
Investment Code of Ethics
For Principal Asset Management positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.
Experience Principal
At Principal, we value connecting on both a personal and professional level. Together, we’re imagining a more purpose-led future for financial services – and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our employees. And we support our employees the same way we support our customers: with comprehensive, competitive benefit offerings crafted to protect their physical, financial, and social well-being. Check out our careers site to learn more about our purpose, values and benefits.
Principal is an Equal Opportunity Employer
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Posting Window
We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.