International Monetary Fund

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IMF Recruitment

Fund Internship Program (FIP)

The Fund Internship Program (FIP) is the main internship offered at the Fund. It provides an opportunity for highly promising graduate students pursuing Ph.D degrees in macroeconomics (or fields related to the IMF’s core work) to gain a better understanding of the IMF’s work and contribute to the IMF’s mission. Candidates undertaking Master’s degrees in macroeconomics or related fields may also be considered. Other opportunities for internships in other careers are available, but their frequency and availability is limited. These opportunities are advertised periodically online in Current Vacancies or through university career development offices. The Fund also offers an internship in its Legal Department.

Next Internship Session Application Period
June to October, 2015 December 1 - 31, 2014

Program Overview

Internships are offered to about 50 students each year and are undertaken during the summer between June and October.

During the 10 to 13-week period, interns work under the supervision of experienced colleagues to carry out a research project and prepare a paper. Papers may be presented to staff in the department at the end of the internship assignment, and papers of high standard may be published internally.

Projects assigned to interns differ from year-to-year depending on the departments’ work program. Research covers a broad spectrum of economic issues, as evidenced by the following topics addressed in 2013:

  • Effects of Capital Account Liberalization on Low-Income Countries: A Review of Literature and Some Empirical Evidence
  • Financial Integration and Cyclicality of Capital Flows
  • Can the shape of the global asset price networks serve as early warning indicator?
  • Multilateral aspects of global regulatory reform
  • The impact of global regulatory reforms on middle income countries (MICs) in SSA
  • Fiscal Rule Under output Gap Uncertainty
  • Market Response to Policy Initiatives to Resolve the Global Financial Crisis and the European Sovereign Crisis

The IMF's Legal Department is also seeking applications for a summer intern position as part of the 2014 Fund Internship Program. The duration of the internship will be 10-13 weeks, which will be undertaken sometime between May and October 2013 (the actual period of the internship will be agreed between the department and the successful candidate).

The selected candidate will work in one of the units of the Legal Department under the supervision and guidance of a senior member of the unit. Projects assigned (which differ from year to year) will be determined at a time closer to the start of the internship to ensure that they are directly aligned with the department's work program and, to the extent possible, with the interests of the intern. Research covers a broad spectrum of legal issues as the examples below from previous years illustrate:

  • Analysis of the legal framework for capital controls under the European Economic Area
  • Research on the insolvency of non bank financial institutions
  • Research on the legal mandate of the IMF in financial regulation
  • Cross-country comparisons of effectiveness of AML/CFT efforts

Who Should Apply

To be eligible for the FIP, candidates must meet the following criteria:

PhD students

  • Must be within one or two years of completing a Ph.D. in Macroeconomics or a related field and be in student status (i.e. must be returning to university after the internship. Typically, internships are sought by those who are interested in the IMF's Economist Program following graduation.
  • Be below the age of 32 at the commencement of the internship
  • Have an excellent command of English, written and oral.
  • Possess strong analytical, quantitative and computer skills.

Master’s degree students

  • Must be in student status at the commencement of internship (not yet graduated).
  • Be below the age of 28 at the commencement of the internship.
  • Have an excellent command of English, written and oral.
  • Possess strong analytical, quantitative and computer skills

For the Legal Department Internship: candidates must be within one or two years of completing an LLM or equivalent advanced degree in law and below the age of 32. While the selection process is highly competitive, candidates with diverse academic or cultural backgrounds are encouraged to apply.

Salary & Benefits

IMF interns receive:

  • A competitive salary;
  • Round-trip economy class air travel to Washington, D.C. from their university; and
  • Limited medical insurance coverage.

Frequently Asked Questions on the Fund Internship Program (FIP)

Is this a paid Internship?

Yes, this internship is paid.

What kind of visa would I need, and would the IMF facilitate this?

If you are not a US citizen or permanent resident, and do not already have work authorization that would allow you work at he IMF, you will require a G4 visa to take up employment and we would provide the paper work to facilitate this.

What are minimum and maximum durations of the internship?

The minimum duration is 10 weeks and the maximum duration is 13 weeks.

Will someone notify me when my internship application is received by your office?

You will receive automated acknowledgement of your application. Only candidates short listed for further consideration will be contacted.

Do both my references have to be academic?

Yes. They need to be in order for your candidacy to be considered.

If I am selected as a summer intern in the FIP, when would I start?

Start dates are expected to be June 23 or July 7, 2014, but these could change depending on business needs. Firm dates will be confirmed at the time of making offers.

Does the IMF provide housing for non-local interns?

We will provide information on searching for housing when you receive an offer.