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Research Analyst Opportunities for College Graduates
Frequently Asked Questions about the Research Analyst Position
2013-2014
 

What does a Research Analyst do?
RAs provide quantitative and analytical support to economists in the New York Fedís Research Group. They help analyze current public policy issues and events and conduct short-term research on monetary policy, bank regulation, payments systems, financial markets, and the state of the U.S. and global economies. RAs also work on long-term, academically oriented research projects.

As an RA, your job responsibilities may include:

  • helping economists plan and execute long-term research on a wide range of applied and theoretical topics;
  • conducting advanced econometric, computational, and analytical research for publication in the Bank’s research series or leading academic journals;
  • running financial, banking, macroeconomic, and international forecasting models and programs in statistical packages;
  • compiling and assessing information from academic journals, market sources, and government reports; and
  • preparing memos and presentations on current economic and financial conditions and policy issues.

How is the Research Group organized?
The Group has seven areas—Capital Markets, Financial Intermediation, International Research, Macroeconomic and Monetary Studies, Microeconomic Studies, Money and Payments Studies, and Regional Analysis—each with a distinctive focus and a broad research agenda. Your experience here is largely influenced by the research of the economists you’re working with and the topics they’re exploring. Detailed information on each area’s focus and current research can be found in our brochure PDF 8 pages / 1,300 kb, and a list of our economists and their fields of interest can be found at http://www.newyorkfed.org/research/economists/expertise.html.

What qualifications should a Research Analyst have?
Talented individuals with a background in economics, statistics, or a related field make the best RAs. Experience with large databases and statistical packages—such as SAS, STATA, and MATLAB—is valuable. We’re also looking for candidates with solid analytical and decision-making abilities and good communication skills.

Do I need a strong background in computer programming?
Experience with computers and computing programs is desirable, but a strong background in programming is not required. Many incoming RAs take advantage of in-house training courses offered in the fall.

What benefits does the New York Fed offer?
Incoming RAs can enjoy flexible work schedules; an employer-matching 401(k) savings plan; commutation assistance; health, dental, and vision insurance; and tuition reimbursement for many individual courses, certificate programs, and graduate programs. More details can be found on the Human Resources benefits page.

Is this a long-term job?
Most RAs stay for about two years. They find that’s sufficient time to learn the economic, modeling, computational, and research skills associated with the job. However, some RAs who remain for a third year are given more opportunities to pursue policy-oriented work, collaborate on long-term research, and gain managerial experience.

What do Research Analysts do after they leave the Fed?
Most RAs leaving the New York Fed become graduate students. Many return to school to pursue a Ph.D. in economics or finance, but others have gone on to top business schools, law schools, and public policy or other graduate programs. To learn about former RAs who are pursuing a Ph.D. or a law degree, visit http://www.newyorkfed.org/research/research_analysts/where_are_they_now.html.

What if I don’t want to pursue a Ph.D. in economics or other graduate study?
The valuable business, computer, and writing skills you acquire here can lead to other opportunities. Many RAs move on to challenging jobs in the public and private sectors. Some have taken positions in other areas of the New York Fed, such as the Financial Institution Supervision Group, the Chief of Staff’s Office, the Credit, Investment, and Payments Risk Group, the Emerging Markets and International Affairs Group, or the Markets Group. In the private sector, RAs have gone on to join investment and commercial banks and financial research firms. To learn about former RAs who have joined the Markets Group or the Credit and Payments Risk Group at the New York Fed, visit http://www.newyorkfed.org/research/research_analysts/where_are_they_now.html.

Iím still in college. Does the Research Group offer a summer internship program?
The New York Fed’s Undergraduate Summer Analyst Program is open to students who will have completed their sophomore year of college by the start of the internship. The program emphasizes advanced assignments—with opportunities for summer analysts to enhance their business skills through critical financial analysis, formal presentations, research and writing, and professional development activitiesómaking it ideal for students, especially rising seniors, interested in applying for the Research Analyst position in the future. More information on the Undergraduate Summer Analyst Program is available at http://www.newyorkfed.org/careers/summerintern.html.

Are non-U.S. citizens eligible for hiring?
Bank policy specifies that candidates must be eligible to work in the United States on a continuous basis for other than practical training purposes. In some cases, positions require access to confidential supervisory information or Federal Open Market Committee data, which is limited to “protected individuals” as defined in U.S. federal immigration law. Protected individuals include, but are not limited to, U.S. citizens, U.S. nationals, U.S. permanent residents who are not yet eligible to apply for naturalization, and U.S. permanent residents who have applied for naturalization within six months of being eligible to do so.

How do I get to the Bank?
The Federal Reserve Bank of New York is located at 33 Liberty Street, between Nassau and William Streets, in downtown Manhattan. Directions are available on our website:
http://newyorkfed.org/aboutthefed/ny_directions.html.

How do I apply?
To apply for a Research Analyst position, visit www.newyorkfed.org/careers.

Refer to Job Number 233222 for the RA position with a Summer 2014 start date.

Resumes will be accepted on a rolling basis; however, candidates are strongly encouraged to apply before October 15, 2013.

The Federal Reserve Bank of New York is an equal opportunity employer.

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