Research Analyst Associate Program

Capstone is a leading policy analysis and regulatory due diligence firm with locations in Washington, DC,  New York, Houston, London, Paris, and Mumbai. We advise institutional investors and corporations on how changes in state, federal, and international policy will impact investments. Capstone leads coverage of public policy investments affecting financial and business services, energy and environment, healthcare, TMT, and more. Our professionals analyze policy to uncover risks, opportunities, and, along the way, unique business and investment strategies for our clients. We live at the nexus of policy and investments.

Description:
Capstone’s Analyst Associate Program is a year-long program that is designed for recent graduates and early career professionals to gain experience in policy research and strategy. The Associate Program has the option of 2 six-month rotations on Capstone sector teams (energy, healthcare, TMT, financial services, national security or special situations) determined by interest and need. Associates will work primarily on client engagements with our private equity, capital markets, and corporate clients. 
Participants will take on a significant amount of responsibility, with support from senior analysts and mentors. Upon successful completion of the program, associates will be placed within the firm on specific teams based on fit.

What We Look for In Candidates:

• Analytical Capabilities: Ability to break down and solve business and policy research problems through quantitative and qualitative thinking and analysis. Strength combining primary and secondary research to develop your insights including review of large data sets, analyzing the public record, and conducting stakeholder interviews.
• Interpersonal & Communication Skills: Strong analytic writing and PowerPoint skills, with the ability to generate and clearly articulate powerful insights and recommendations from complex and varied information. Ability to explain your insights to clients and address questions effectively. Strong aptitude for teamwork and ability to frequently adapt to new teaming arrangements to complete projects that last for three weeks on average.
• Work Ethic: Willing to take the time to master the details and ability to ask insightful questions to get to the right answers
• Passion: Interest in determining how a change in policy or regulation will impact investments.
• Other desired (but not required) specialized skills include some of the following: M&A experience, data analytics/data visualization (e.g., SQL, Python, VBA, Tableau), financial modeling, statistics, and econometrics.

What We Offer

• Exposure to a wide range of industries, geographies, and deals
• Access to client relationships and conversations
• Regular mentoring and training opportunities
• Work in an entrepreneurial environment which values collaboration, intellectual curiosity, and a passion for superior research

Who Can Apply:

• Open to students graduating in 2026 and early career professionals (one year post grad)
• High academic achievement
• Must be eligible to work in the United States without employer sponsorship now or in the future
• Capstone's Associate Program will begin August 24, 2026

Capstone offers a competitive benefits package, including health, vision, dental insurance, paid vacation, travel stipend and 401(k). The expected compensation for this role will be a minimum of $85,000 depending on experience, with eligibility in Capstone's annual bonus pool. 
 
This position is based in our Washington, DC office. Capstone is in-person Monday through Thursday with flexible work from home Fridays.