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Diversity, Equity, and Inclusion (DEI) at Morningstar

Change happens when we challenge the status quo; dare to ask the difficult questions; explore beyond our own experiences; and refuse to accept inequity as inalterable.

In 1984, our founder, Joe Mansueto, recognized inequity in the availability and distribution of financial information. He set out to change these practices, democratizing and demystifying investing and giving more people access to the tools, products, and information they needed to achieve their financial goals. This simple, revolutionary idea became the foundation of our company and the core of our mission: empowering investor success.

Our mission hasn’t changed, but the ways in which we live it, the lenses through which we interpret it, and the metrics we use to measure it, have.

Today, we recognize diversity, equity, and inclusion as integral to our mission and inextricable from our actions. From examining our internal policies and practices to hiring and advancing a more diverse cohort of colleagues, mobilizing our research capabilities to deepening our education and understanding, we’re committed to leveraging our partnerships, platforms, and position to redefine outcomes, advance positive change, and lead by example.

Group of women participating in a chair yoga class, Mumbai.

International Women's Day Yoga Event, Mumbai, India

It’s easier to build a diverse workforce than it is to create a truly inclusive, equitable workplace. At our Mumbai office, many of the conversations center around onsite childcare and other actions we can take to better support and empower women in the workplace—especially young mothers.

Snehalata Bhogte

Senior Manager/Business Partner, Mumbai

From person to person and from country to country, the relationship to, understanding of, and engagement with DEI varies widely. For a global organization like Morningstar, this adds an additional layer of complexity. But this is a journey we’re on together; seeing everyone’s eagerness to learn, to grow; and to contribute has been incredibly heartening.

Fabio Peyer

Senior Marketing Manager, London

Two young women smiling at a dinner party, Paris.

Employee Celebration Dinner, Paris, France

Woman conversing with two colleagues at a Pride party.

Pride Party, Chicago, United States

DEI objectives are business objectives. We need to achieve our DEI goals in the same way that we achieve key business goals: with strategy, with tools, and with the same intentional focus. DEI isn’t separate from our continued success as an organization—it’s central to that success.

Jennika Gold Thomas

Global Head of Data, Chicago

Thinking Ahead

We’re committed to putting our expertise to work for investors. Whether it’s exploring investor behavior or positing an idea that could change our industry for the better, we’re using research and thought leadership to drive positive change, taking decisive action to mitigate the wealth disparities that exist across race, gender, immigration status, and more.

Check back frequently for our latest research and thought leadership.

Everyone Wins

When we prioritize diversity, equity, and inclusion, everyone wins. We’re committed to creating a workplace that encourages and supports all of us.

Best Workplaces for Women in India
Best Place to Work for LGBTQ
Diversity in Finance
Bloomberg Gender Equality

Making Change

We believe that knowledge is power. We empower investors by transparently reporting data through our research, channeling it through our software, and using it to inform and drive our strategies. As we continue to advance diversity, equity, and inclusion at Morningstar, we’re committed to sharing statistics about our global workforce today, and to updating this information as we progress toward our DEI goals. We know that there is still work to be done; through our self-ID initiative, we’re ensuring that our ongoing data tracking represents all of our colleagues, including our LGBTQ+ employees, non-binary employees, veterans, and persons with disabilities.

Download our Pronouns Guide

The data below represent Morningstar's global workforce as of December 31, 2020, with the exception of the employee ethnicity data, which only represent our United States offices. This data will be updated periodically to reflect our continued growth. While we have made meaningful progress over the past several years, we still see many opportunities to improve, and have established company-wide goals to guide our efforts and keep us accountable. There is no number that signifies an end to this important work—only more progress to be made.


as of 12/31/2020


as of 12/31/2020

Female: 41.8%, Male: 58.2%
Gender (Global)
Female: 43.4%, Male: 56.6%
Gender (Global)
Female: 39.1%, Male: 60.9%
Gender (US)
Female: 40.5%, Male: 59.5%
Gender (US)
Black or African American: 3.4%, Hispanic or Latino: 3.7%, Asian: 20.8%, Native Hawaiian or Pacific Islander: 0.2%, Native American or Alaskan Native: 0.1%, Two or More Races: 2.5%, White: 69.4%
Ethnicity (US)
Black or African American: 3.5%, Hispanic or Latino: 4.0%, Asian: 21.8%, Native Hawaiian or Pacific Islander: 0.1%, Native American or Alaskan Native: 0.1%, Two or More Races: 2.8%, White: 67.6%
Ethnicity (US)

First/Mid Managers

as of 12/31/2020

Senior Managers

as of 12/31/2020

Female: 30.7%, Male: 69.3%
Gender (Global)
Female: 30.5%, Male: 69.5%
Gender (Global)
Female: 33.9%, Male: 66.1%
Gender (US)
Female: 33.1%, Male: 66.9%
Gender (US)
Black or African American: 2.9%, Hispanic or Latino: 2.9%, Asian: 18.6%, Native Hawaiian or Pacific Islander: 0.2%, Native American or Alaskan Native: 0.0%, Two or More Races: 1.7%, White: 73.5%
Ethnicity (US)
Black or African American: 1.7%, Hispanic or Latino: 0.8%, Asian: 11.0%, Native Hawaiian or Pacific Islander: 0.0%, Native American or Alaskan Native: 0.0%, Two or More Races: 0.0%, White: 86.4%
Ethnicity (US)
We’re proud to launch our first-ever Corporate Sustainability Report.

Increasing Access

From mentorship to sponsorship to professional networks, we know that no one does it alone. Through our four pillar programs, we’re actively working to reshape the DEI landscape in our industry from the inside, out.

Residency Program Icon
Residency Program
Residency offering full-time experience for participants completing their bachelor’s degree.
Returnship Program Icon
Returnship Program
Internship welcoming experienced workers seeking to reenter the workforce after two or more years.
Development Program Icon
Development Program
Hiring and development program that teaches entry-level employees professional and job-based skills, preparing them for long, successful careers with us.
Reverse Mentorship Program Icon
Reverse Mentorship Program
Program exposing our senior leaders to different perspectives, informing behavioral changes rooted in empathy for an experience beyond their own.

Creating Opportunity

We’re proud to partner with Investment 20/20, the Greater Chicago Food Depository, the Grace Hopper Celebration, and other outstanding community and industry partners to advance DEI in the financial sector.

Learn more about our programs and partnerships.

You Belong

Morningstar’s employee resource groups (ERGs) offer our colleagues a safe, inclusive space to learn and socialize; to celebrate and explore; to raise awareness and to lift each other up. Whether you’d like to join us for a cultural celebration, learn about career development opportunities, or participate in a panel discussion, we’re here to welcome you.

Morningstar Allies
EST. 2018

Morningstar Asian Pacific Islander Alliance (APIA)
EST. 2021

Morningstar Black, Caribbean, & African Network (BCA)
EST. 2018

Morningstar Indian Affinity
EST. 2018

Learning and Living Diversely
EST. 2020

Out at Morningstar
EST. 2015

Morningstar Sustainability Network (SUN)
EST. 2020

VIVA – Morningstar Latinx Community
EST. 2017

Morningstar Women's Initiative (WIN)
ST. 2008

Morningstar Women in Technology (WIT)
EST. 2014

Learn more about our ERGs.

We want all employees to know that they belong and are valued. We want them to trust that here, they will be supported and empowered to live up to their promise and potential.

Mike Wood

Director of Diversity, Equity, and Inclusion

Invest Where It Counts

The work of creating an inclusive, equitable world never ends; there is always more we can do, more we must do. This is the work of real change. It’s a journey, not a destination. And it’s one we’re on together.

We know this work will be difficult. But we also know that it brings moments of joy, opportunities for deep connection, and material progress toward a more just future.

Whether you’re a member of our team, a client, or considering a career at Morningstar, we’re glad you’re on this journey with us.

We welcome your input and ideas about our DEI initiatives. To share your feedback, request additional information, or to partner with us, please contact us. If you’d like to learn more about our family of companies, visit DBRS Morningstar, Pitchbook, and Sustainalytics.

Ready To Build a Career That Matters?

Morningstar is strongly committed to creating and preserving equal opportunity for all employees and applicants. We make all employment decisions—including recruitment, hiring, compensation, training, promotion, transfer, discipline, termination, and other personnel matters—without regard to race, color, ancestry, religion, sex, national origin, age, disability, protected veteran status, marital status, sexual orientation, genetic information, citizenship, gender identity and expression, parental status, or other legally protected characteristics or conduct.

EEO is the law. Pay Transparency. E-Verify Notice: English and Spanish. Right to Work Notice: English or Spanish.

Masthead Photo Credit: Design Architect Perkins+Will Photography Steve Hall © Hedrich Blessing Photographers.