Ph.D. Summer Internship and Fellowship Opportunities

The New York Fed’s Research Group sponsors two summer programs for Ph.D. students and junior faculty. The programs—one an internship, the other a fellowship—enable participants to conduct research, present their results, and engage with experienced economists.

Ph.D. Internships at the New York Fed

Each year, the Research Group seeks qualified candidates for two summer internship positions. Ph.D. students in all fields of economics and finance who are planning to graduate in 2023 are now welcome to apply for summer 2022 positions.

The program, begun in the summer of 2006, is designed to provide students with the opportunity to participate in the intellectual life of the Research Group. Throughout the internship, the students’ time is dedicated to furthering their dissertation research, interacting with research economists, and obtaining feedback on their work. Students are expected to present research, in an informal setting, at the beginning and end of the internship.

Interns are hosted for a period of eight weeks, between the second week of June and the first week of August, and receive compensation for the period in which they work in the program. This position will offer workplace flexibility, e.g., working remotely or on site as needed/desired during the week. However, interns will be expected to be in the office at least a couple days a week for meetings and team collaboration and therefore to live within a commutable distance. Interns must be fully vaccinated against COVID-19 and receive a booster shot within 30 days of being eligible to do so, unless the Bank grants an exemption based on a medical condition or sincerely held religious belief. 

Please note that all program participants must be authorized to legally work in the United States. Applicants who are not currently authorized to work in the United States must make arrangements independently (for example, with their schools) to obtain the necessary work permissions to be able to participate in the program. The New York Fed sponsors neither visas nor work permits for this position.

How to Apply
Applications can be sent to research_phdintern@ny.frb.org. In the subject line, applicants should specify a primary and secondary field from the following: Microeconomics, Macro and Monetary Economics, International Finance and Trade, Financial Markets and Intermediation, Money and Payment Systems, or Asset Pricing and Market Microstructure. Each application should include:

  • a CV
  • the applicant’s dissertation proposal (there are no specific guidelines for the proposal; it can be any length and either technical or nontechnical)
  • any research papers (if available, including current work and preliminary drafts)
  • a copy of the applicant’s graduate transcript (unofficial scanned copy is acceptable)
  • one letter of reference from an advisor (sent by the advisor to the above email address)

The deadline to submit applications is March 18, 2022. Candidates will receive notification of decisions by April 15. Questions can be directed to research_phdintern@ny.frb.org.


Summer Economics Fellows Program – Advancing the Economics Careers of Women and Underrepresented Minorities

The New York Fed’s Research Group also sponsors two positions in the AEA Summer Economics Fellows Program. The program allows the fellows to spend a summer in residence at a sponsoring institution, participating as members of the research community while engaged in a research project of their own choosing. The fellowships at the New York Fed have the same time frame, duration, and hybrid work model as the Ph.D. Summer Internships, with fellows expected to work onsite at least a couple days a week. Applications should be sent directly to the AEA. Further information on the program can be found on the
AEA website


Additional Federal Reserve Bank of New York resources on COVID-19 can be found here.

Application deadline: March 18, 2022




Bev-hirtle-photo_64x60(2x) Director of Research Beverly Hirtle spoke about her work experience and the role of research economists at the New York Fed in a recent St. Louis Fed podcast on Women in Economics: 
“What’s been particularly great [is that] the interesting [research] questions present themselves in the policy issues that we deal with all the time.”

Also, read more about the innovative work being done by New York Fed economists and how life at the Bank differs from academia in this interview with Bev.

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