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Fixed Income Division - Analyst / Associate, Commodity Structurer

Morgan Stanley · Houston, TX · posted 31 days ago

In short: Fixed Income Division - Analyst / Associate, Commodity Structurer at Morgan Stanley in Houston, TX, posted 31 days ago.

By AtiveSite · Published 07/11/2026 · Updated 09/11/2026 · Every figure is linked to its source below.

Morgan Stanleyemployer
Houston, TXlocation
Administration and officesub-niche
31 days agoposted
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The job

LIVE Live feed (private-sector employer) Source: The Muse public API · Data: listed 2026-10-09

EmployerMorgan Stanley
LocationHouston, Texas
FieldPeople, Legal and Administration › Administration and office
LevelMid Level
Source categorynot stated
Posted2026-10-09 (31 days ago)
Work arrangementOn-site at the location listed
PayNot published in the source listing

Job description

Morgan Stanley: Commodity Structurer

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments and individuals from more than 1,200 offices in 43 countries.

As a market leader, the talent and passion of our people is critical to our success. Together, we share a common set of values rooted in integrity, excellence, and strong team ethic. Morgan Stanley can provide a superior foundation for building a professional career - a place for people to learn, to achieve and grow. A philosophy that balances personal lifestyles, perspectives and needs is an important part of our culture.

The Fixed Income Division is comprised of Commodities, Interest Rate and Currency Products, Credit Products and Distribution. Professionals in the Division assess and actively manages risk, trade securities, and structure as well as execute innovative transactions in the fast-paced and constantly changing global markets. The Commodities Division, with 200+ front office employees, is a market leader in energy, metals, and agricultural product trading worldwide whose professionals trade in both physical and derivative commodity risk.

Within the Commodities Division, North American Power and Gas desk ("NAPG") trades physical and financial power and gas. NAPG structures and manages transactions in duration of one to twenty plus years across a large and growing client base. NAPG provides load-following services, manages resources including tolls for power generation assets and provides various risk management needs for municipals, commercial and industrial load, load aggregators, independent power producers and renewable generation developers.

The Global Commodities Structuring Group works closely with Commodities Origination and Trading teams to model transactions, negotiate client confirmations, book trades and coordinate with second line functions (strats, operations, credit, valuation control, legal, finance). Structuring also plays key role to ideate and implement initiatives around new client solutions, trading risk management strategies, pricing and capital frameworks and execution process.

This role is for a Structurer in the Global Commodities Structuring Group focused on NAPG, based in Houston (preferred) or New York.

Responsibilities:

A successful candidate would be able to develop a deep understanding of market structure, fundamentals, and client solutions within NAPG markets. The candidate would work closely with the power and gas origination and trading teams including managing risk, executing complex trades, and coming up with ideas to mitigate risks and create PnL opportunities. Specific tasks will include:



Requirements:



WHAT YOU CAN EXPECT FROM MORGAN STANLEY:

At Morgan Stanley, we raise, manage and allocate capital for our clients - helping them reach their goals. We do it in a way that's differentiated - and we've done that for 90 years. Our values - putting clients first, doing the right thing, leading with exceptional ideas, committing to diversity and inclusion, and giving back - aren't just beliefs, they guide the decisions we make every day to do what's best for our clients, communities and more than 80,000 employees in 1,200 offices across 42 countries. At Morgan Stanley, you'll find an opportunity to work alongside the best and the brightest, in an environment where you are supported and empowered. Our teams are relentless collaborators and creative thinkers, fueled by their diverse backgrounds and experiences. We are proud to support our employees and their families at every point along their work-life journey, offering some of the most attractive and comprehensive employee benefits and perks in the industry. There's also ample opportunity to move about the business for those who show passion and grit in their work.

To learn more about our offices across the globe, please copy and paste https://www.morganstanley.com/about-us/global-offices into your browser.

Expected base pay rates for the role will be between $110,000 and $125,000 per year at the commencement of employment for Analyst or $150,000 - $200,000 per year for Associate. However, base pay if hired will be determined on an individualized basis and is only part of the total compensation package, which, depending on the position, may also include commission earnings, incentive compensation, discretionary bonuses, other short and long-term incentive packages, and other Morgan Stanley sponsored benefit programs.

Morgan Stanley is an equal opportunity employer committed to building and maintaining a workforce that is diverse in experience and background. Our recruiting efforts reflect our strong commitment to a culture of inclusion, where individuals are hired, developed, and advanced based on their skills and talents.

Our workforce reflects a broad cross-section of the global communities in which we operate, bringing a variety of backgrounds, talents, perspectives, and experiences.

For more information, please visit : https://www.morganstanley.com/people-opportunities/eeo .

Explore around this job

Field: People, Legal and Administration Sub-niche: Administration and office All jobs at Morgan Stanley Jobs in Texas Jobs in Houston, TX Houston city guide Texas state guide Harris County economy

View this job and apply on The Muse →

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About the role

This is a Mid Level role in the People, Legal and Administration field (Administration and office) at Morgan Stanley. Mid-level roles usually expect some years of relevant experience and the ability to work with limited supervision.

We could not match this job title to one occupation in the official wage statistics, so no pay estimate is shown. Pay is not in the source listing; ask the employer for the range and compare in the 240 job niches.

Does the pay work here? (estimate)

Estimate for a wage earner: 2026 federal brackets and standard deduction (IRS), Social Security 6.2% up to $184,500, Medicare 1.45% (+0.9% above $200,000 single / $250,000 married), and a state rate you set; set your own state tax rate. It ignores credits, pre-tax deductions, local taxes and benefits. Sources: IRS: tax year 2026 inflation adjustments · SSA wage base per Federal Register notice 2025-19763.

How to prepare and behave

This is editorial guidance, not information from the employer.

Know your rights as a candidate and an employee:

The city

The job is in Houston, TX. Below is what the official statistics say about living and working there.

How Houston compares. Among the 120 largest places in Texas, Houston is #1 by population, #114 for homeownership (#1 = highest), #88 for household income (#1 = highest), #49 for college degrees (#1 = most). Its county, Harris County, is #9 of 254 counties for average pay ($88,554).

The place in numbers

Houston has 2,328,253 residents (ACS 2020–2024), about 7.7% of the population of Texas. It covers 641 square miles of land, which works out to roughly 3,634 people per square mile. The median age is 34.4, 3% younger than the state median (34.4 against 35.6).

Housing

The median gross rent is $1,361 a month (rent plus utilities), about the same as the state median ($1,361 against $1,403). Over a year that is 25.2% of the median household income. US housing guidance treats housing as affordable when it takes 30% of income or less, so the typical household is under that line. The median home value is $277,800, which is 4.3 times the median household income ($64,813). 42.1% of households own their home, 33% below the state average (42.1% against 62.6%). A low ownership share points to a rental-heavy market with more apartments and shorter stays.

Work and pay

The Houston-Pasadena-The Woodlands, TX metropolitan area has 3,289,720 jobs in the BLS wage survey, and the median pay across all occupations is $49,410 a year, 3% below the national median ($49,410 against $50,980). The biggest occupation groups are office and administrative support (379,010 jobs, median $45,850); transportation and material moving (314,010 jobs, median $43,570); food preparation and serving related (307,980 jobs, median $28,530). The area is most specialised in architecture and engineering (1.4 times) and construction and extraction (1.3 times), where the share of workers is above the national share. The best-paying groups with at least 5,000 jobs are management ($126,630) and legal ($105,240). In 2026M09 the unemployment rate of Harris County was 4.6%. 67.1% of residents aged 16 and over are in the labour force. The city lies in Harris County; its jobs, pay by industry and GDP are on the county page.

Getting around

Among workers, 67.7% drive alone, 3.2% use public transit, 2.0% walk, 13.0% work from home. 15.7% of workers commute 45 minutes or more, 7% below the state average (15.7% against 16.9%).

People and education

36.6% of adults aged 25 and over hold a bachelor's degree or higher, 8% above the state share (36.6% against 33.8%). 29.3% of residents were born outside the United States, 67% above the state share (29.3% against 17.6%). The poverty rate is 19.9%, 44% above the state rate (19.9% against 13.8%).

Climate

The warmest month is Aug, averaging 84°F (29.0°C), and the coolest is Jan at 51°F (10.3°C). About 1,246 mm (49 inches) of precipitation falls in a year; Oct is the wettest month (128 mm) and Feb the driest (69 mm). These values come from NASA satellite-based climatology on a grid of about 50 km, so they describe the wider area, not a weather station in the city.

Nearby cities to compare

Closest cities in this guide: Pearland (16 miles, rent 37% higher); Channelview (16 miles, rent 6% lower); Pasadena (17 miles, rent 11% lower); Atascocita (18 miles, rent 36% higher). Rent differences are against Houston; use the Compare tab to put any two cities side by side.

Full guide to Houston →Texas guideAll jobs in Houston

Official links for Houston

These links go to official sources and open in a new window. The first one is the government's or company's own site as listed in Wikidata (property "official website"); check it before relying on it.

Where to live

CITY Official statistics Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year (via Census Reporter) · Data: ACS 2020–2024

Places within 50 miles (straight line) of Houston, TX that have a guide, with what living there costs. No pay estimate is shown because the title did not match one occupation.

Sort:
Place ⇅Distance from the job city ⇅Median rent ⇅Median home value ⇅Median household income ⇅Commute 45+ min ⇅Rent as % of occupation pay ⇅Open jobs there ⇅
Houston, TX0 mi$1,361$277,800$64,81315.7%n/aJobs
Pearland, TX16 mi$1,860$356,300$118,84225.6%n/a—
Channelview, TX16 mi$1,279$195,900$64,42219.9%n/a—
Pasadena, TX17 mi$1,213$209,600$64,92717.5%n/a—
Atascocita, TX18 mi$1,849$307,400$118,22633.6%n/aJobs
Deer Park, TX18 mi$1,318$264,600$100,38214.3%n/a—
Missouri City, TX18 mi$1,931$311,400$94,39020.2%n/a—
Mission Bend, TX18 mi$1,747$233,800$67,28224.9%n/a—
Spring, TX19 mi$1,711$231,500$88,99728.1%n/a—
Sugar Land, TX20 mi$1,957$430,200$136,21721.1%n/a—
La Porte, TX22 mi$1,378$234,600$80,75314.9%n/a—
Friendswood, TX22 mi$1,688$420,100$126,50820.6%n/a—
Baytown, TX25 mi$1,307$197,300$59,91016.9%n/aJobs
League City, TX26 mi$1,684$360,000$121,09923.3%n/a—
The Woodlands, TX28 mi$1,822$511,700$140,70120.9%n/a—
Fulshear, TX31 mi$1,952$572,700$187,03539.7%n/a—
Rosenberg, TX31 mi$1,379$219,100$65,66821.9%n/a—
Conroe, TX38 mi$1,393$309,600$76,20620.7%n/a—
Texas City, TX38 mi$1,307$217,300$68,77615.6%n/a—
Galveston, TX49 mi$1,298$326,000$55,63111.8%n/a—

Career paths

We could not match this title to one occupation, so here are the other sub-niches in People, Legal and Administration, where your skills may carry over:

Recruiting and human resources (407) Legal and compliance (331)

Distances

CITY Calculation (straight line) Source: U.S. Census Bureau Gazetteer (coordinates) · Data: 2024

How far Houston, TX is from the 20 largest US cities, in straight-line miles (not driving distance). Click a column to sort.

Sort:
From ⇅Straight-line distance (miles) ⇅Population of that city ⇅
Houston, TX0 mi2,328,253
Austin, TX146 mi979,539
San Antonio, TX190 mi1,479,835
Dallas, TX223 mi1,307,930
Fort Worth, TX237 mi963,194
Oklahoma City, OK412 mi697,125
Jacksonville, FL821 mi977,670
Indianapolis, IN866 mi885,860
Denver, CO874 mi718,877
Charlotte, NC926 mi903,844
Chicago, IL937 mi2,711,226
Columbus, OH993 mi914,802
Phoenix, AZ1,015 mi1,642,323
San Diego, CA1,298 mi1,389,526
Philadelphia, PA1,343 mi1,579,706
Los Angeles, CA1,379 mi3,857,263
New York, NY1,419 mi8,483,844
San Jose, CA1,602 mi990,138
San Francisco, CA1,673 mi830,235
Seattle, WA1,888 mi754,195

Nearby cities with open jobs (within 120 miles)

Sort:
City ⇅Straight-line distance ⇅Open jobs ⇅
Atascocita, TX18 mi2
Cypress, TX22 mi1
Baytown, TX25 mi3
Angleton, TX42 mi1

The employer

Morgan Stanley is the employer in this listing. See all its open jobs here →

It is among the 200 largest US-headquartered employers in our list, with about 83,000 employees worldwide (2025). Company page with headquarters, state economy and official links →

Official links for Morgan Stanley

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What it is like to work at a company (culture, schedules, benefits) is not in the source data, so we do not describe it. Read the description and ask the questions under "How to prepare".

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FAQ

What is the Fixed Income Division - Analyst / Associate, Commodity Structurer job at Morgan Stanley?

A mid level role in people, legal and administration (administration and office) listed 31 days ago. The full description is on this page and on The Muse.

Where is this job?

Houston, TX.

How do I apply?

Use the "View this job and apply on The Muse" button. AtiveSite does not receive applications.

How much does it pay?

The listing does not publish pay, and we could not match the title to one official occupation.

What is the cost of living there?

Median rent in Houston is $1,361 a month and median household income $64,813 (ACS 2020–2024).

How old is this listing?

It was posted on 2026-10-09 (31 days ago). Jobs older than 90 days are not shown.

Are there similar jobs?

Yes: browse administration and office jobs in Texas.

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