Graduate Analyst

Graduate Analyst (Madrid, 2026)

Final date to receive applications: 5 April 2026

Department: Early Careers

Employment Type: Permanent - Full Time

Location: Madrid, Spain

Aurora Energy Research are looking for Graduate Analysts in our Madrid office to join in September 2026 (job description below and attached on the right).

We are also looking for an Analyst to join the Iberia Advisory Team as soon as possible (job description attached on the right). Please apply for either role using the APPLY NOW button and indicate your earliest start date on the application form.

At Aurora, you will apply the skills you have developed through your studies to solving some of our clients’ most interesting and intricate problems. Through a mix of structured training programmes and on-the-job learning, we will help you raise your abilities to the next level, preparing you to build trusting relationships with clients, develop new business opportunities, nurture teams and communicate complex ideas with crystal clarity.

For recent graduates joining Aurora’s Madrid office, we offer a 21‑month Graduate Opportunity offering experience and development designed to provide:

• Accelerated training in how energy markets work.
• Involvement in live client projects.
• An opportunity to contribute to some of the most influential reports in the industry.
• A chance to build up your toolkit of analytical, teamwork and communications skills.
• An understanding of how Aurora fits together and of the opportunities in the company.

During your time as a Graduate Analyst, you will have exposure to different teams across our business. Placements will be assigned collaboratively, based on both your interests and the needs of the business at the time. After 21 months, you will move into a permanent position within one of our teams, provided continued performance as a Graduate.

Applications open on Monday 2nd March and will close on Sunday 5th April. We may close the pipeline early if we reach a certain number of applications within this timeframe so we recommend applying at your earliest convenience.

This role is based in Madrid, Spain and so the successful candidate will need to have, or be able to secure and maintain appropriate right to work in Spain in the role. Under the current applicable immigration rules our Graduate Analyst roles are usually not eligible for visa sponsorship.

As a Graduate Analyst, you will have the opportunity to rotate through the following departments:

• Advisory (Iberia) or Advisory (Latin America): executing bespoke consulting projects for clients
• Research (Iberia) or Research (Latin America): developing market forecast reports and original in-depth research on the future of energy systems

• Projects include valuations of energy assets, modelling bespoke scenarios and asset configurations and conducting analysis to forecast asset economics for investors, banks, developers and utilities. Besides project valuation work, the Advisory team also works with governments and regulators on designing and evaluating energy policy.
• While most projects last for around two weeks, some longer projects, such as multi‑client studies or longer pieces of policy work, can take several months.
• Graduate Analysts usually work alongside other analysts, and project teams are made up of one or two analysts, a project manager and a senior associate providing oversight. Teams re‑form for each new project, so you will get the chance to work with everyone in the wider advisory team.

• Quarterly market forecast reports are the main output of the research team. Each quarter you’ll be updating our latest view of the evolution of the power system to 2060 by modelling energy markets based on the latest assumptions on power demand, commodity prices, market activity and policy. This involves a combination of desk research and modelling in collaboration with other teams.
  
  The research team also prepares regular mini conferences which involve presenting in‑depth and timely analysis of a specific aspect of the market.
• Research teams consist of around 5 analysts, and you’ll work closely with this team throughout the rotation.
• The reports are read…