NOTE: This position will begin Summer 2021!
The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.
Research assistants (RAs) play a key role in the Economic Research Department. Whether they are helping economists prepare briefings on current monetary policy issues, working on economic forecasts, writing some of our newsletters on economic conditions, or analyzing data for long-term research projects, RAs are an essential part of our team. The department is organized into four sections: Macroeconomics, Banking, Consumer Finance Institute, and Regional/Microeconomics. Within these sections, our economists conduct innovative research on monetary policy, macroeconomics, banking and finance, financial services regulation, payments, regional and urban economics, and other aspects of central banking. By working with economists on these research projects, RAs fully experience all stages of the economic research process.
Our department prides itself on its collegial atmosphere. RAs help one another develop their statistical, data, and programming skills. Our economists collaborate on research with academic and central bank colleagues from around the world; as a result, so do our research assistants.
The assignments in the Economic Research Department offer our RAs a number of ways to increase their knowledge of economics and their analytical skills. Moreover, RAs have access to a number of training and education opportunities, including courses in computer software and programming languages, as well as undergraduate and graduate courses in economics, statistics, and mathematics.
Working as a RA at the Philadelphia Fed is a rewarding experience, whichever career path you ultimately choose to pursue. Our RAs have gone on to top graduate schools in economics, public policy and law; some have found opportunities in other departments in the Bank; and others have moved into higher positions within the Economic Research Department.
RAs typically work at the Philadelphia Fed for two to three years before continuing on to graduate programs or other careers in economics or related fields.
To Apply: Please attach your resume, cover letter, and unofficial transcript.
Undergraduate or graduate degree in economics, mathematics, or statistics
Coursework in econometrics or advanced statistics
Programming experience, preferably in SAS, STATA, R, and/or Matlab
Assisting economists with statistical and econometric analysis for long-term, academically oriented research projects
Assisting economists with reports and presentations on current economic and financial conditions for pre-FOMC briefings
Producing various Bank publications for public consumption
On a day-to-day basis, RAs are expected to:
Identify and collect data or other information from academic journals, market sources, and government reports
Write computer programs using statistical software such as SAS, Stata, and Matlab
Review, organize, and analyze economic and financial data
Write or help prepare reports and presentations in the form of graphs or tables
Background investigations including drug testing are required for all new hires as a condition of employment, after the job offer is made. Employment may not begin until the Bank accepts the results of the background investigation.
This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are permanent residents must sign a declaration of intent to become a U.S. citizen when eligible to do so and pursue a path to citizenship. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position if they sign a declaration of intent to become a permanent resident and a U.S. citizen and meet other eligibility requirements.
In addition, all candidates must undergo an applicable background check and comply with all applicable information handling rules.
Our benefit plans are designed to be the best fit for you at every stage of your career!
Excellent health, prescription, dental and vision coverage
Savings ThriftPlan (401K)with a 100% match up to 6% and a pension plan
Paid vacation / sick time/ paid holidays and a flexible work environment
Numerous Employee Resource Groups to help you thrive and grow at the Fed in a diverse and inclusive environment
Healthy lifestyle assistance through an on-site fitness center, subsidized cafeteria with healthy food options, and health and wellness programs
Monthly public transportation allowance
Numerous internal development programs plus annual tuition reimbursement programs
Free credit protection, financial planning, and flexible spending accounts or health savings accounts and much more!
The Federal Reserve Bank of Philadelphia believes that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop, and retain the most talented people from a diverse candidate pool. The Federal Reserve Bank of Philadelphia is proud to be an equal opportunity workplace.