Ph.D. Summer Internship and Fellowship Opportunities

The New York Fed’s Research Group sponsors two summer programs for Ph.D. students, postdocs, 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 2022 are now welcome to apply for summer 2021 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.

The interns are hosted for a period of eight weeks starting in June and receive compensation for the period in which they work in the program. Please note that all program participants must be authorized to 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 does not sponsor visas or work permits for this position.

How to Apply
Applications can be sent to 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 application period for 2021 has closed. Candidates will receive notification of decisions by April 1.

Questions can be directed to

CSWEP Fellowships - Promoting Economics Careers For Women and Minorities

The Research and Statistics Group of the Federal Reserve Bank of New York also sponsors every year two CSWEP Summer Fellowships. The CSWEP Summer Economics Fellows Program is sponsored by the American Economic Association and allows the fellows to spend a summer in residence at a sponsoring institution. Applications should be sent directly to CSWEP. Further information on the program can be found on the CSWEP site

COVID-19 Notice

In response to the COVID-19 pandemic, all non-essential members of the New York Fed’s Research and Statistics Group are currently working remotely (rather than at the headquarters building). The end date of this work-from-home posture has not yet been determined and will depend on the evolution of public health and other considerations.

Ph.D. interns and fellows will be subject to the same work arrangements as other non-essential Research and Statistics personnel. Therefore, Ph.D. interns and fellows may be required to work remotely for all or some of the duration of the program. Remote deployment of equipment–such as computers and phones—can only be done within the United States; interns and fellows must therefore be physically present in the United States for the duration of the program.

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

Application deadline: The application period for 2021 has closed.

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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