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IMF Jobs: Overview

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IMF Jobs: Overview

Find out everything about Jobs and Careers with the IMF!

Working for an institution such as the International Monetary Fund (IMF) is a dream for many. The IMF combines good remuneration and a wide range of benefits with a rewarding career that can make a real difference in the lives of millions of people and improve their quality of life. In addition, working for the IMF means having a global career with a global reach, in a multicultural and pleasant environment; you will be able to construct influential networks and receive encouragement to develop professionally.

Because of the above-mentioned reasons, in addition to a competitive remuneration package, career mobility, and the support that successful candidates receive once they are assigned to a position at the institution, IMF Jobs selection processes are highly sought-after by many young professionals, making them highly competitive.

In pursuit of its mission, the OpenIGO network has prepared a comprehensive eBook and support services tailored for the IMF, with the aim of highly increasing your chances of success in these competitive selection processes. These services include revising your application documents (curriculum vitae/resume and cover letter) and a mock interview, as per the IMF model. We also offer an essential package that combines both services together with a discount! Download a free sample below:

IMF Jobs and Careers

WOULD YOU LIKE TO KNOW MORE ABOUT OUR IMF JOBS PRODUCTS & SERVICES?

IMF Jobs – Products & Services


IMF overview

The International Monetary Fund (IMF) is a specialized agency of the United Nations whose main mission is to ensure the stability of the international monetary system. It does so in three ways: keeping track of the global economy and the economies of member countries; lending to countries with balance of payments difficulties; and offering capacity development, understood as technical assistance and training to help member countries design and implement economic policies. It is headquartered in Washington, D.C. and has Representative and Regional Offices around the world.

IMF‘s main focus: To promote the stability of the international monetary system and address macroeconomic and financial sector issues related to global economic stability.

Themes addressed by the IMF:

  • Public Finances
  • Monetary and Financial Systems
  • Legislative Frameworks]
  • Economic and Financial Statistics
  • Macroeconomic Frameworks

IMF Jobs - Selection Processes

In order to start a career with the IMF, applicants must know what are the existing recruiting initiatives, their eligibility criteria and different stages of the selection processes, as well as have a broad understanding of the culture and values of this complex international institution.

IMF has a varied array of job opportunities that reflects different levels of responsibilities, expertise and duties required in the organization’s activities.

There are 3 macro-categories in IMF’s job opportunities roster:

a) IMF Entry-Level Recruitment Programs

This is IMF’s recruitment program for entry-level economists, research assistants. These young professionals will work in a variety of departments and make an immediate contribution to IMF’s mission while providing a unique platform to launch the candidate’s career.

b) IMF Experienced Professionals

This is IMF’s recruitment program for experienced candidates and it spans a wide range of areas, including economics, finance, legal, accounting, communications, human resources, information technology, library, security, and facilities.

c) IMF Support Staff

This is IMF’s recruitment program for support staff positions across all departments and areas. Other than for the Research Assistant Program, support staff positions are recruited locally in Washington DC metropolitan area.

Within those categories, opportunities are subdivided in:

IMF Economist Program (EP)

As part of IMF’s Entry-Level Recruitment Program, the IMF EP will give candidates hands-on exposure to a cross-section of IMF work and an opportunity to apply their research and analytical skills directly to essential policy work which impacts IMF’s 190 member countries.

IMF Research Assistant Program (RAP)

As part of IMF’s Entry-Level Recruitment Program as well as the institution’s Support Staff, the IMF RAP will give candidates a unique opportunity to acquire valuable hands-on work experience in the IMF’s operational and policy work, use and improve their analytical skills, increase their knowledge of technology, information systems, as well as their research abilities. The program has a maximum duration of two years.

IMF Fund Internship Program (FIP)

As part of IMF’s Entry-Level Recruitment Program, the IMF Internship, also known as the IMF Fund Internship Program (FIP), aims to offer graduate students an insider experience of the organization. When selected, interns work under the supervision of an experienced staff member to carry out a research project and prepare a research paper, which may be published internationally at the end of the internship period.

You can check out more about the IMF Internship Program here!

IMF Experienced Economists

As part of IMF’s Experienced Professionals Program, Experienced Economists will have the opportunity to work with a team of qualified economists focused on macroeconomics. They will contribute to a wide range of important policy issues that span different branches of economics by providing analysis, policy, and program design, as well as being able to help IMF’s member countries address their specific economic challenges.

IMF Short-term Assignments for Specialized Experts

As part of IMF’s Experienced Professionals Program, IMF’s short-term experts will undertake short-term assignments in IMF’s member countries to provide subject matter expertise. They will be able to make a direct impact on the economic well-being of IMF’s member countries as well as help them design and implement policies aimed at reducing vulnerabilities to economic threats, therefore contributing to a more robust and stable global economy.

IMF Externally-Financed Appointee Program (EFA) and Special Appointee Program (SAP)

As part of IMF’s Experienced Professionals Program, the IMF EFA and IMF SAP initiatives grant candidates with an opportunity to assume IMF’s responsibilities in their area of expertise, build their proficiency in the use of technology and innovative methodologies, as well as gain exposure to the work of international organizations in general. The EFA is an externally-financed contractual appointment for a duration of up to two years, while the SAP is internal to the IMF and is a contractual appointment for a duration of up to one year.

IMF Specialized Career Stream Professionals

As part of IMF’s Experienced Professionals Program, these highly-skilled professionals are recruited from a broad range of areas to work on unique and complex issues dealt with by the IMF. Communications, Facilities Management Services, Finance and Accounting, Human Resources, Information Technology and Language Services are some of the various fields in IMF’s activities that will require the expertise of these professionals.

IMF Research Assistants (Economics)

Same as Research Assistant Program (RAP), but focused on the Support Staff and limited to candidates physically residing in the Metropolitan Washington, D.C. region.

IMF Specialized and Administrative Assistants

As part of IMF’s Experienced Professionals Program, these professionals will be part of a highly skilled team that makes important decisions that impact the global economy. The IMF recruits assistants for positions across the institution’s departments with experience in areas including administration, research, budget, finance, accounting, human resources, communication, and information technology.

IMF Jobs - General Requirements

Before applying for a vacancy at an organization, it is important to understand which staff profile it employs and looks for in its selection processes. This will help you to: understand if your professional profile fits with what the organization is looking for; to get ready, in order to have greater chances of success in future selection processes, and to prepare better curriculum and application documents required for your application.

Therefore, it is of fundamental importance that your application is carefully revised so as to avoid common mistakes and to increase your chances of moving on to the second stage of the selection process. This is exactly what our award-winning team will do for you!

At OpenIGO, we have analyzed documents from dozens of IMF candidates and know precisely what is required for your application to stand out from the thousands of others received by the IMF team every year. It is important to highlight that this service is confidential and your files will be deleted from our systems when the service has been completed.

Click on the link below to find out more about our IMF Application Review service:

Application Review

An overview of the IMF staff profile will be presented in this section, so that you will be able to gain a better understanding of what this organization looks for in its human resources.

What are the fields of study required for jobs with the IMF?

IMF’s job opportunities have a diverse range of fields. It is crucial to always check the fields accepted by the specific job opportunity. However, these are some of the most common fields required:

  • Economics
  • Macroeconomics
  • Business Administration
  • Statistics
  • Computer Science
  • Accounting
  • International Relations
  • Management
  • Law

What are the language requirements for jobs with the IMF?

Proficiency in English is mandatory. For some vacancies, knowledge in another language within the UN System (Arabic, Chinese, French, Russian and Spanish) may be an advantage. Knowledge of the language of the country where the job vacancy is located may be required on some occasions.

What is the nationality requirement for jobs with the IMF?

Candidates must be nationals of one of IMF’s member countries.

As there are different types of job opportunities within UNICEF, they differ in terms of education, age, and work experience required. Below is the difference in these criteria for each job opportunity type.

1. IMF Entry-Level Recruitment Programs

1.1 IMF Economist Program (EP)

Education requirement:

  • Be a recent PhD graduate or be within one year of completing your PhD in a relevant field of study.

Age requirement:

  • Be under the age of 34 when you join the IMF EP program.

1.2 IMF Research Assistant Program (RAP)

Education requirement:

  • Candidates must have recently completed a bachelor’s degree in economics, computer science, statistics, math, or business administration;
  • Candidates must have at least a 3.5 GPA (cumulative) in both their principal field of study and in their overall academic program. Final academic transcripts verifying the required GPA must be submitted prior to appointment.

Other:

Candidates pursuing or holding advanced degrees are not eligible for the IMF RAP.

1.3 IMF Fund Internship Program (FIP)

You can check out more about the IMF Internship Program here!

2. IMF Experienced Professionals

2.1 IMF Experienced Economists

Education requirement:

  • Candidate must have an advanced degree (master’s/PhD) in macroeconomics or a related field such as monetary economics, financial economics, public finance, international trade, or econometrics.

Work experience required:

  • Candidates must have relevant professional experience at the national and regional levels in macroeconomic policy, quantitative techniques, and country surveillance, normally gained in a central bank, ministry of finance, or international financial institutions (IFIs). Experience in a research institute or academia is also accepted if it is combined with some exposure to macroeconomic policymaking.

Competencies required:

  • Demonstrated proficiency in quantitative modeling and econometrics to support analysis and policy formulation;
  • Strong interpersonal communications and writing skills;
  • Ability to deal effectively and diplomatically with member country authorities.

Other:

The IMF considers as special credentials the following:

  • Having a Ph.D. degree with three to ten years of relevant work experience;
  • Having a Master’s degree with seven to fourteen years of relevant work experience.

2.2 IMF Short-term Assignments for Specialized Experts

Work experience required:

  • Candidates should have extensive relevant operational and/or policy-making experience, usually in senior government positions or in academia. In some cases, a mix of public and private sector expertise could be beneficial;
  • International exposure and familiarity with best international practices are considered key assets by the IMF.

Competencies required:

  • Analytical skills;
  • Strong interpersonal communications and writing skills;
  • Ability to conduct technical discussions;
  • Write high-standard reports under tight deadlines;
  • Ability to work as part of a team;
  • Promote effective and cooperative relations with national authorities;
  • Establish and maintain relations with other TA providers and donors;
  • Handle sensitive issues with discretion in a multicultural environment.

2.3 IMF Externally-Financed Appointee Program (EFA) and IMF Special Appointee Program (SAP)

Education requirement:

  • For the IMF EFA, candidates must have a graduate-level degree in an area related to IMF’s work;
  • For the IMF SAP, candidates must have a postgraduate degree.

Work experience required:

  • For the IMF EFA, candidates should be experienced public-sector officials, and/or;
  • Have at least four years of relevant experience;
  • For the IMF SAP, candidates should be Be mid-level government officials, and/or;
  • Have at least three years of relevant experience in a public financial institution or economics-related ministry, research institute, or university.

Competencies required:

  • Strong interpersonal communications and writing skills;
  • Strong analytical skills.

2.4 IMF Specialized Career Stream Professionals

Education and work experience required:

A relevant advanced university degree is generally expected, but for some roles, relevant expertise or certifications may be more valued by the IMF. Experience working in international, multicultural environments may be an advantage in the selection process but is not a requirement.

Competencies required:

  • Demonstrated competence in the relevant field areas;
  • Versatility;
  • Innovation;
  • Good work attitude;
  • Technological/data management skills;
  • Policy analysis skills;
  • Strong interpersonal communications and writing skills;
  • Strong analytical skills.

3. IMF Support Staff

3.1 IMF Research Assistants (Economics)

Education requirement:

  • Candidates must have recently completed a bachelor’s degree in economics, computer science, statistics, math, or business administration;
  • Candidates must have at least a 3.5 GPA (cumulative) in both their principal field of study and in their overall academic program. Final academic transcripts verifying the required GPA must be submitted prior to appointment.

Other:

Candidates pursuing or holding advanced degrees are not eligible for the IMF RAP.

3.2 IMF Research Assistants (Economics)

Education requirement:

  • Candidates must have a Bachelor’s degree in economics, statistics, mathematics, finance, computer science, or other related quantitative fields.

Work experience required:

  • Candidates must have two years of relevant work experience in relevant fields to IMF’s activities;

Competencies required:

  • Proficiency in statistical, econometric, and graphical presentation tools and database management.

Other:

Only candidates physically residing in the Metropolitan Washington, D.C. region are eligible to apply to IMF Research Assistant support staff vacancies. (Non-US citizens may be eligible for a visa through the IMF). The IMF Research Assistant Program (RAP) is open to internationally-located candidates.

3.3 IMF Specialized and Administrative Assistants

To be eligible for the specialized and administrative assistant role, candidates are usually required to already be living in the metropolitan Washington, D.C. area. (Non-US citizens are eligible for a visa through the IMF).

Education requirement:

  • Bachelors-level degree.

Work experience required:

Relevant work experience.

IMF Jobs - Interview

After shortlisting candidates from the application’s pool, the IMF will invite selected applicants for the assessment phase, which will be comprised of an interview, a reference check and other processes depending on the position level, area of work, and office context.

Generally, there is a 30-40-minute preliminary interview during which the candidate will be asked for a high-level overview of their research paper. There will be also questions regarding economic topics related to the work of the IMF and on the candidate’s interpersonal and communication skills. During the COVID-19 pandemic, IMF’s interviews will be held by video or phone.

Candidates who are successful on the preliminary interview will be invited for a 60-minute virtual panel interview comprised of up to three senior IMF economists and an IMF Human Resources officer. The interview follows a similar format to the preliminary one, focusing on the candidate’s knowledge of monetary, fiscal, balance of payments, and financial sector issues and their behavioral skills, in order to provide a deeper assessment of their analytical abilities, judgment, interpersonal skills, knowledge of macroeconomics and related areas, as well as the ability to convey complex issues in a logical and structured way.

In addition to the panel interview, the candidate will also be asked to take a 40-minute online psychometric assessment designed to identify preferred behavioral skills and approaches.

To help you feel more secure and greatly improve your performance during the IMF Interview Process, OpenIGO Network has developed a mock interview, as per the IMF original model, with a specialized professional who has extensive experience.

Click on the link below to find out more about our IMF Mock Interview service:

Mock Interview

IMF Jobs - Contracts

Staff appointments at IMF are generally for an initial contractual term of up to three years.

IMF’s employees may be offered either an extension to their term appointment or to a regular staff position (as an indefinite appointment). This is subject to the employee’s performance, which indicates a potential for a successful IMF career, as well as the current mix of needs and opportunities within the IMF.

 

Contractual positions at the IMF may vary in initial appointment length but they can be extended based on need, for up to a cumulative maximum of four years. Eligibility for certain contractual benefits may vary by length of service and the position type.

 

IMF Jobs - Salary and Benefits

Salaries

IMF offers remuneration that is benchmarked against several comparator markets from around the globe to ensure it is competitive and will grow as the candidate progresses in their career.

Benefits

Medical Benefits Plan:

IMF offers a plan to provide flexible and comprehensive global coverage for the employee and their relatives.

Leave:

IMF offers leaves that initially include up to 26 annual leave days per year, increasing to 30 days with long service. In addition, the institution offers 15 days of sick leave per year. The employee may also be also eligible for parental leave and flexible work arrangements including working from home (teleworking), flexible start dates, and compressed work schedules.

Retirement:

IMF offers retirement benefits that include a significant final stipend, defined contribution pension plan, and voluntary retirement savings plans for all employees.

Family Support:

IMF’s support for families plan includes the IMF Spouse and Partner Association, which provides a support network for their employee’s partner– offering advice on living and working in the area, career services, personal development, English language courses, a school counselor to help their children settle into school, and an onsite childcare center.

Expatriate:

For expatriate staff members, IMF offers benefits that include support for regular visits home and child education.

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