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 an advanced degree/Ph.D. in macroeconomics or a related field to gain a better understanding of the IMF’s work and contribute to the institution’s mission. 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 |
|---|---|
| May - October 2013 | September 14, 2012 - December 14, 2012 |
Program Overview
Internships are offered to about 50 graduate students each year and are undertaken during the summer between May and October.
During the 10 to 13-week period, interns work under the supervision of an experienced economist to carry out a research project and prepare a paper. Their paper may be presented to staff in the department at the end of their 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 2011:
- Linkages between advanced and emerging Europe;
- The impact of foreign exchange intervention;
- Costs and benefits of alternative fiscal consolidation plans;
- The role of the central bank in balancing price and financial stability in emerging markets;
- Fiscal, monetary, and reserve policy interactions in developing countries.
Furthermore, the IMF’s Legal Department is seeking candidates for a summer internship, which will take place between May and October 2012, also for a period of 10-13 weeks.
The selected candidate will work in one of the units of the Legal Department under the supervision 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
Students are typically pursuing a Ph.D. in macroeconomics or a relevant field, such as international economics, monetary economics, public finance, econometrics, labor economics, poverty issues or financial economics. Typically, internships are sought by those who are interested in the IMF's Economist Program following graduation.
Students who are considering the IMF Internship Program:
- should be within one or two years of completing their Ph.D. in macroeconomics or relevant field; for the Legal Department internship, should be within one or two years of completing their L.L.M. in law, or equivalent advanced degree in law;
- must be in student status, i.e., must be returning to university after their internship;
- should normally not exceed 32 years of age;
- have an excellent command of English (both written and oral); and
- must possess strong quantitative and computer skills.
While the selection process is highly competitive, candidates with diverse academic or cultural backgrounds are encouraged to apply.
Selection Process
Online applications are initially screened to determine whether a candidate has the minimum qualifications to be considered for the program. Following this, the most promising candidates are identified and a table containing information on each candidate is prepared. This information, along with a copy of each candidate’s application and/or CV, is forwarded to participating departments for consideration. Departments are asked to advise the Human Resources Department of their preferences among candidates, as well as the project to be undertaken.
While candidates may be selected based on how well their studies and research aligns with the department’s work, candidates should not expect that an internship will provide them with an opportunity to focus on their own research interests.
Salary & Benefits
IMF interns receive:
- salary comparable to senior level support staff;
- round-trip economy class air travel to Washington, D.C. from their university; and
- limited medical insurance coverage.
Although the IMF provides information to help interns locate suitable accommodation in the Washington area, it does not find housing for interns or reimburse their housing costs.
How to Apply
Graduate students who are interested in being considered for the IMF Internship Program and who meet all of the above criteria are invited to apply online during the application period indicated above. Internship applications should be submitted through the special Internship section of JobLink. Before submitting your application, you may find it helpful to review the general information for applicants in the Current Vacancies section.
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