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Economist Program

Program Overview

The Economist Program (EP) is the "point of entry" for talented economists seeking an exciting career soon after completion of their graduate studies. Participants undertake challenging assignments and have the opportunity for specialized training while concurrently contributing to the IMF's work.

During the three-year program, participants are given two assignments, each lasting 18 months. Assignments may be in an area department dealing with country-specific issues; or in a functional department dealing with fiscal, monetary, balance-of-payments, debt or other issues.

Participants work closely with experienced members of the staff and are given considerable responsibility in carrying out operations-related analysis and research. In conjunction with their duties, participants normally take part in at least two missions (business trips) during each assignment period. In addition, participants normally take training courses on IMF policies and operations, software applications, written and oral communications, and may receive language instruction, all of which enrich their assignment. Participants also have access to in-house economics training seminars and external conferences to enhance their professional skills and support career development.

Toward the end of their third year, successful participants may be offered a permanent ("regular") staff position, provided that performance during the EP period has been fully satisfactory and contingent upon the availability of staff vacancies.

Who Should Apply

The Economist Program is very competitive; over 1,500 candidates apply annually for about 25 – 30 positions.

The "ideal" candidate

• understands and values the work of policy-oriented institutions;
• is expected to be strong in their field of expertise, but must be versatile and flexible in learning other areas;
• has strong analytical skills and is a well-rounded macroeconomist who works within a clear conceptual framework, is comfortable "navigating" around the different sectors of an economy, and understands the linkages between these sectors;
• is willing and capable of writing relevant high quality policy papers as well as shorter targeted notes to guide the work of the Fund and its member countries;
• is willing and able to work in teams toward a common goal, making a significant contribution to the team's work, sharing information within the team, and coaching junior staff;
• must be prepared to travel extensively, and either have foreign language skills or be willing to learn another language if needed.

You can obtain more information about the role and responsibilities of an IMF economist by referring to IMF Economists.

Educational Requirements and Qualifications

In order to be considered for the Economist Program, a candidate should:

• have graduate-level training in macroeconomics or a relevant field, such as international economics, monetary economics, public finance, econometrics, labor economics, poverty issues or political economy. Typically, selected candidates either have a Ph.D. or will be completing their Ph.D. shortly after entering on duty, and this factor sets the level of the competition in the selection process. However, candidates with a master's degree in macroeconomics or a related field and relevant experience may also be considered.
• be below the age of 34 when he/she joins the staff;
• possess a superior academic record;
• have a good command of English (both written and oral);
• demonstrate strong quantitative and computer skills;
• show an interest in, and aptitude for, working in an international organization.

Selection Process

A multi-step process is employed for selecting participants in the Economist Program. On-line applications are initially screened to determine whether a candidate has the minimum qualifications. The most promising candidates are then invited for a preliminary interview. IMF recruiters visit universities, public sector organizations, and major economics conferences in many countries throughout the year to meet and interview applicants.

Candidates who do well in the preliminary interview and who are resident in North or South America are invited to IMF Headquarters in Washington in December or January for a "panel interview." Those based in Africa, Asia, Europe and the Middle East are invited to the "panel interview" in the IMF's Paris Office in December or early the following calendar year.

(Note: Candidates who have participated in the IMF Internship Program during the previous two years and who have received an outstanding overall assessment may have their preliminary interviewed waived).

Panel Interview Submission Requirements

Candidates invited to a "panel interview" will be asked to submit (i) a research paper (ideally of publishable standard) or one or two chapters of their dissertation, (ii) their most recent university transcripts from the last degree obtained or to be obtained, and (iii) three professional references (typically from the candidate's professors).

The "panel interview" is a day-long screening process having three main components:

• A 45-60 minute interview with a panel of three senior IMF economists and an HR Officer. The interview is designed to test a candidate's general knowledge of advanced economics; analytical abilities; judgment; and oral communication skills. Questions focus primarily on monetary, fiscal, monetary and balance of payments issues rather than a candidate's dissertation or job market paper.
• A 30 minute non-technical interview with an HR Officer. Candidates are asked questions about how they have handled various situations. The interview is used to appraise a candidate's communication and interpersonal skills, as well as to determine how well their approach to work aligns with that of the organization.
• A 90 minute written test during which the candidate will be asked to select one of three working papers and prepare a brief (one-and-a-half to two page) summary and critical commentary. The purpose of the test is to assess a candidate's drafting skills and analytical abilities.

Evaluating Candidates

Candidates are evaluated and ranked on the basis of their interviews, performance, written work, and personal references. The weight given to each component is as follows:

Strong candidates are referred to the IMF Economist Committee. The committee meets several times beginning in late January in order to determine to whom offers will be made. While candidate ratings are very important, other factors, including diversity and particular skills needed by the organization, may be taken into consideration in making selections.

All ratings from the recruitment process are confidential and are not provided to candidates. However, Recruitment may provide general feedback to candidates on request.

Offers

Candidates who are offered a position in the Economist Program typically have two weeks to respond. Offers are only binding for the current recruitment year and do no extend to the following year.

Campus Recruiting Schedule

IMF recruitment representatives conduct on-campus interviews from September through February each year. Please contact your campus placement office or your department's placement officer to learn whether we will be visiting your university or a nearby location and determine if an interview might be arranged. Should a visit not be scheduled, please note that recruitment representatives interview candidates at the American Economic Association Meetings in January.

Salary and Benefits

The IMF provides Economist Program participants with a salary that is competitive with similar programs in other organizations. As a fixed-term staff member, participants are also entitled to:

• relocation benefits, including appointment grant, if recruited from outside the Washington, D.C. area (new staff member and eligible dependents);
• 26 days of annual leave and 15 days of sick leave per year (on an accrued basis);
• participate in the IMF's subsidized medical and dental benefits plans;
• participate in the staff retirement plan;
• home leave and education allowances (if qualified);
• maternity/paternity/adoption leave, as well as access to an on-site day care center;
• join the IMF Fitness Center and Bretton Woods Recreation Center.

To Apply

As the IMF values diversity, qualified candidates having diverse academic or cultural background are encouraged to apply.

If you are interested in being considered for the IMF Economist Program, please submit your on-line application on or after June 1. In this regard, please note that the IMF does not accept applications or CVs outside of its online application system.

Although the applications will be accepted through October 31, early submission is encouraged, as our recruitment missions begin in late September/early October.

Apply online beginning June 1, 2007