A Day in the Life of a Research Assistant (Click the link at the bottom of the page for the Video)
Each year, the Board of Governors of the Federal Reserve System (the Board) hires a new cohort of Research Assistants (RAs) who gain real-world experience by working alongside PhD economists to assist with original economic research and provide critical support for policy analysis.
The RA position is a two-year program and most RAs leave the role well-suited to pursue a graduate degree, often in economics, or a number of different careers at the Board or with other organizations. While at the Board, RAs often become involved in a variety of other projects, including collaboration with various government agencies and Federal Reserve System Banks, and participate in efforts to provide economic and financial literacy instruction to local high school students. RAs are encouraged to attend academic research seminars and presentations given by Board economists and visiting scholars.
The Board is committed to attracting, developing, and retaining a diverse workforce. We recognize the benefit derived from different perspectives and experiences, and we look carefully at candidates’ records to identify individuals whose perspectives could benefit our work. As such, we especially encourage submissions from groups traditionally less represented in economics.
Want to learn more about the RA experience across the Federal Reserve System?
Visit fedeconjobs.org. While there, be sure to navigate to Opportunities ~> Washington, DC to learn more about our focus on policy and the national outlook, as well as the application, offer, and onboarding process.
Duties/Responsibilites
RAs at the entry level use standard statistical techniques and a general knowledge of microeconomic or macroeconomic theory to assist economists in their current reporting, research, modeling, forecasting, database maintenance, and regulatory casework.
- Carries out assignments in support of current analysis, research, forecasting, modeling efforts, or regulatory casework, or activities associated with the Federal Reserve's statistical program by using and/or modifying standard statistical and graphics software packages and by developing ad hoc computer programs of moderate complexity.
- Assumes responsibility for the preparation of and verification of data in the section's charts, tables, and other material used in memoranda and briefings to the Board, in the implementation of policy through open market operations, in data books or testimony for Board members, in casework, or in publications such as the Federal Reserve Bulletin.
- Assists economists in monitoring well-defined subject areas or project developments; drafts routine reporting memoranda and analytical memoranda of limited complexity.
- Performs literature searches and summaries.
- Handles routine requests for data or other information from the public, Federal Reserve Banks, or government agencies.
Qualifications
- Bachelor’s or master’s degree in economics, statistics, math, or a related field with demonstrated economics coursework.
- Knowledge of economic principles, quantitative techniques, and data analysis.
- Statistical software package or programming language experience such as Stata, R, MatLab, Linux/Unix, VBA, and others.
- Demonstrated strong communication skills, initiative, integrity, and experience working both independently and collaboratively.
About the Application Process
Recruiting Cycles and Deadlines
RAs are selected during two main recruitment cycles in the fall and spring. Applications are not reviewed until after each respective deadline.
Fall Recruitment Cycle
Completed applications accepted August 15-October 15 (Deadline)
- Interviews conducted October-November.
- Offers extended on a rolling basis starting in October and continuing until the conclusion of the fall cycle.
- At the conclusion of the fall cycle:
- Candidates not selected during the fall recruitment cycle will automatically be considered during the spring recruitment cycle.
- Incomplete applications submitted during the fall recruitment cycle can be completed and considered during the spring recruitment cycle.
Spring Recruitment Cycle
Completed applications accepted October 21 – January 31 (Deadline)
- Interviews conducted February–April.
Off-Cycle Recruitment
Very infrequently, positions may become available for immediate placement outside of the fall and spring cycle. Depending on the timing, candidates for these positions are drawn from the fall and spring cycle application pools.
How to Apply
All application materials listed below, including recommendation letters, must be received by the application deadline to be considered by our hiring committee.
U.S. citizenship is required for Research Assistant positions.
- Please submit the following in one email to ResearchAssistant@frb.gov with the subject line “RA Application: LASTNAME, FIRSTNAME”. (Example- RA Application: DOE, JANE).
- Cover letter
- Resume
- Unofficial transcript from every institution attended (study abroad if not included in undergraduate transcript, graduate programs, etc.)
- Names & contact information of intended recommender(s).
2. Letter(s) of recommendation (minimum of one, maximum of two)
- At least one letter of recommendation must be submitted on your behalf; however, it is strongly encouraged that you have two letters submitted. A maximum of two letters will be accepted.
- Recommendations can be academic or professional.
- Please have your recommenders send their letter directly to ResearchAssistant@frb.gov with the subject line “RA Recommendation: LASTNAME, FIRSTNAME”. (Example- RA Recommendation: DOE, JANE).
- Submit this form immediately after sending your Application Email. This form only needs to be submitted once through the above link. You do not need to attach a copy of your responses to your application email.
Privacy Act Notice (PDF)
The Board complies with the Rehabilitation Act of 1973, as amended, and provides job applicants with disabilities reasonable accommodations to assist them in applying for jobs at the Board. If you have a disability and would like to request an accommodation in order to apply for a job at the Board, please call 202-452-3880 or e-mail FRBRecruiting@frb.gov.
Watch the Day in the Life of an RA!
https://www.federalreserve.gov/careers-research-assistants.htm