Fund Internship Program (FIP)
INTERNSHIP APPLICATION UPDATE: Our review of applications is now completed. Successful candidates will be contacted by the end of March/first week in April.
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, 2017||December 15, 2016 – January 16, 2017|
Internships are offered to about 50 students each year and are undertaken during the summer between June and October.
During the 10 to 12-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 2016:
- Impact of commodity price shocks on financial stability in developing countries.
- Explore possible non-linear effects of oil price shocks on growth (the case of Kazakhstan).
- Spillover effects of ECB unconventional monetary polies.
- Systemic risk amplifiers for stress testing based on inferred networks.
- Debt sustainability, capacity to repay and other risk assessments.
- Productivity and volatility in Europe/Euro Area.
- Financing costs in sub-Saharan Africa—Overshooting or fundamentals?
- Trade Integration in Latin America
- Macroeconomic and structural policies and gender inequality.
The IMF’s Legal Department is also seeking applications for a summer intern position as part of the 2017 Fund Internship Program. The duration of the internship will be 10-12 weeks, which will be undertaken sometime between May and October 2017 (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
To be eligible for the FIP, candidates must meet the following criteria:
- 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
- Possess strong analytical, quantitative and computer skills.
Have an excellent command of English, written and oral.
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, J.D, 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.
IMF interns receive:
- A competitive salary;
- Round-trip economy class air travel to Washington, D.C. from their university; and
- Limited medical insurance coverage.
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 a work authorization that would allow you to work at the IMF, you need a G4 visa to take up employment. We would provide the paperwork to facilitate the request with the U.S. authorities.
What are minimum and maximum durations of the internship?
The minimum duration is 10 weeks and the maximum duration is 12 weeks.
Will someone notify me when my internship application is received by your office?
You will receive automated acknowledgement of your application. Candidates short-listed for further consideration will be contacted separately.
If I am selected as a summer intern in the FIP, when would I start?
Start dates are expected to be June 5, or June 9, or July 3, 2017, subject to change as business needs may fluctuate. Firm dates will be confirmed at the time of the offer.
Does the IMF provide housing for non-local interns?