Associate Fixed Income Trader, Yield Credit

Principal Financial Services, Inc. is seeking an Associate Fixed Income Trader for their Des Moines, IA office. The role involves executing trades, conducting market research, and supporting portfolio managers. Candidates should have a relevant bachelor's degree and experience in the investment industry, particularly in fixed income. Skills in credit analysis and trading systems are preferred. The position offers a salary range of $86,450 - $116,850 per year.
Position: Associate Fixed Income Trader, High Yield Credit
What You'll Do

We’re looking for an Associate High Yield Fixed Income Trader to join our Principal Global Fixed Income team. In this role, you’ll analyze and execute trades, conduct market research, and provide insights to portfolio managers and analysts.
Key Responsibilities:
• Identify, analyze, and execute relative value trades (electronic & OTC) while ensuring compliance with Best Execution guidelines. Monitor open positions and document trades accurately.
• Conduct research on companies and industries to assess asset value, develop trading strategies, and support investment decisions.
• Stay informed on financial markets, global economies, and industry trends. Build and maintain relationships with traders, brokers, and market contacts to secure optimal pricing, research, and allocations.
• Improve processes and trading systems by collaborating with IT partners to enhance workflow and analytics.

Operating at the intersection of financial services and technology, Principal builds financial tools that help our customers live better lives. We take pride in being a purpose-led firm, motivated by our mission to make financial security accessible to all. Our mission, integrity, and customer focus have made us a trusted leader for more than 140 years!

Principal Asset Management offers global asset management expertise across a diverse set of traditional and alternative asset classes. Check us out at !
Who You Are
• Bachelor’s degree in a technical field such as finance, accounting, economics, statistics, engineering, data science, or business analytics
• Previous internship and/or work experience in the investment industry, preferably fixed income
• Solid understanding of financial accounting, economic theory, global financial markets, and fixed income products and strategies
• Strong proficiency in Excel
Skills That Will Help You Stand Out
• Credit analysis and/or credit trading experience - high yield preferred
• Proficiency in trading systems and platforms such as Charles River, Tradeweb, Market Axess, and Aladdin
• Experience in Bloomberg
• MBA, CFA designation, or progress toward either
• Previous computer programming experience combined with familiarity with programming languages (ie, Python, MATLAB, R)
• Collaborative and relationship-focused
• Comfortable taking informed positions and educated risks
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)

$86450 - $116850 / 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
Additional Information

Location

This role will be based out of our World Headquarters located in Des Moines, IA. You can check out what our Global Headquarters 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…