PhD - Summer Research Intern

Program Description: 

The Graduate Summer Associate Program gives graduate students the opportunity to gain valuable work experience at a unique institution. Through dynamic, project-based work assignments and professional development activities, students get: 

• A cohort-based learning model with a strong sense of community 

• Real-world experience that helps them build strong skills and knowledge in their area of interest 

• The chance to contribute to meaningful work that makes an impact on the lives of all Americans 

• Opportunities to meet, network with, and work alongside our mission-driven, curious colleagues—all of whom are happy to share their experiences and advice 

• An experienced professional mentor to support them throughout the program 

• Access to learning events with senior leaders from the New York Fed and other notable institutions, giving them direct insight into the public service and financial services world 

Graduate interns work in one specific business area or function for eight weeks from mid June - end of July, and have access to opportunities for collaboration with other students and employees from around the Bank.  

At the end of the program, students leave with strong skills, professional connections, and meaningful experiences that will support them their long-term careers. 

Our Unique Work: 

The PhD Intern program allows interns to participate as members of the research community while engaged in a research project of their own choosing. They are expected to work independently and will be mentored by experienced economists both on scientific issues, and career issues such as negotiating 

publications, the job market, and advancement strategies. They are encouraged to attend seminars and present at least one research seminar at the during their time at the Bank. The PhD interns are typically either postdocs or graduate students at the dissertation stage. 

• Assist economists and research associates in long-term, academically oriented research projects. 

• Conduct econometric analyses intended for Bank publications as well as academic journals. 

• Programming in statistical packages such as SAS, STATA, and MATLAB. 

How You’ll Make an Impact as a PhD Intern  

• Present your work and receive feedback from a wide range of economists. 

• Share your ideas and insights to help improve frontier academic research. 

The Unique Skill Sets We’re Looking For: 

Experienced: Acts as a seasoned individual contributor. Works independently with limited supervision and may manage projects/processes. Coaches and reviews the work of other professionals. Faces problems that are difficult and sometimes complex. Influences others regarding policies, practices, and procedures. Tactical (40%) –focused on the plans to achieve goals and objectives  the “how”, Transactional (60%)–carries out defined steps or processes. Achieves operational targets with significant impact on departmental results. Works independently on larger, complex projects/ assignment. Manages entire projects or processes within their job area. Performs work under intermittent supervision with significant autonomy and discretion; plans and arranges short-term work. Meets less clearly defined goals. Communicates with parties within and outside of their own function, which may include external organizations. Influences parties within and outside of their function at an operational level regarding policies, procedures, and practices. Requires higher knowledge of their job area. Has practical knowledge of project and process management. Experienced understanding of business line and of specialized discipline and an understanding of the overall Bank. Provides resolution to a diverse range of recognizable complex problems. Analysis is required to identify root cause. Uses judgment within defined boundaries to develop alternate solutions, both long and short term. Problem/Task resolution timeframe: Inclusive of shorter timeframes, but typically the majority of tasks take three to six months to resolve. 

 To Apply: Please include a CV and an unofficial transcript. In addition, please have a recommendation letter from faculty sent to [email protected]

Please attach a document (Word or pdf format) to your workday application where you answer (in order and clearly numbered) the following questions about you and your research interests: 

1.) First name, last name 

2.) What institution are you currently enrolled in for your PhD? 

3.) In which field is your PhD program (e.g., economics, finance, accounting, political economy)? 

4.) In which year did you start your PhD program (e.g., fall 2022)? 

5.) In which academic year do you expect to be on the job market (e.g., fall 2026)? 

6.) Are your research interests more closely aligned with the Bank’s real-side research groups or with its finance-focused research groups? 

7.) What is your primary field of research (e.g., macro, micro, finance, … )? 

8.) What is your secondary (sub-)field of research (e.g., growth, labor, IO, asset pricing, banking, …)? 

9.) What is the tentative title of the research project you would like to pursue during the internship? 

10.) Who is your letter writer (name and institutional affiliation)? 

The application deadline is March 9, 2026 (11:59 PM EST) *. This is a paid internship. Please note, summer housing is not provided. Expected graduation between Winter 2026 & Spring 2027. 

Annual Salary Range: Salary is based on an annualized salary of $94,900

Prorated for the 8-week internship

We believe in transparency at the New York Fed. This salary range reflects a variety of skills and experiences candidates may bring to the job. We pay individuals along this range based on their unique backgrounds. Whether you’re stretching into the job or are a more seasoned candidate, we aim to pay competitively for your contributions.  

Find Out Why We’re an Award-Winning Workplace:  

• Top 3 Most Inspiring Public Sector Workplaces in North America (Inspiring Workplaces, 2024, 2025) 

• Early Talent Award Winner (Handshake, 2024, 2025) 

• Campus Forward Award Winner (Ripple Match, 2023, 2024, 2025) 

Our culture is deeply grounded in our Touchstone Behaviors. By working with us, you’ll have the opportunity to develop and demonstrate your ability to Communicate Authentically, Collaborate Inclusively, Drive Progress, Develop Others, and Take Ownership. These competencies shape our culture here at the Bank. They also provide a shared language for how we work together and achieve success, and set clear expectations for leading with impact at every stage of your career. Learn more.   

Apply now if you’re ready to join us in strengthening the U.S. economy together. Want to consider our other opportunities? Click here to see all our open roles. 

The New York Fed expects its employees to perform their duties with honesty, integrity, and impartiality, and without improper preferential treatment of any person. Learn more about our code of conduct and conflicts of interest rules.   

We value accessibility for all candidates and are happy to provide an accommodation or assistance. Please email us at [email protected] and we’ll be glad to help. Please note, this email box is designed exclusively to assist job applicants with accommodation requests. All other inquires, including the status of applications, will not receive a response. 

This is not necessarily an exhaustive list of all responsibilities, duties, performance standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, management reserves the right to revise the job or to require that other or different tasks be performed when circumstances change.