Research Assistant/Sr. Research Assistant

Location: Philadelphia, PA

CompanyFederal Reserve Bank of Philadelphia

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

Research assistants (RAs) play a key role in the Economic Research Department. Whether they are helping economists prepare briefings on current monetary policy issues, working on economic forecasts, writing some of our newsletters on economic conditions, or analyzing data for long-term research projects, RAs are an essential part of our team. The department is organized into four sections: Macroeconomics, Banking, Consumer Finance Institute, and Regional/Microeconomics. Within these sections, our economists conduct innovative research on monetary policy, macroeconomics, banking and finance, financial services regulation, payments, regional and urban economics, and other aspects of central banking. By working with economists on these research projects, RAs fully experience all stages of the economic research process.

The Bank’s RA program is structured as a two-year program, with most RAs continuing on to graduate programs or other careers in economics or related fields after two years with the Bank. Employment is at-will.

The salary grade for this position is: 8/10. Final salary and offer will be determined by the applicant's background, experience and skills, as well as internal equity and alignment with market data.

NOTE:  The start date for this position will begin in the Summer of 2027!

To Apply: Please attach your cover letter, resume, and unofficial transcript to the Attachments tab. We may ask for 2 letters of recommendation, but, please do not have them sent until requested by the hiring team.

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. It helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.

Our department prides itself on its collegial atmosphere. RAs help one another develop their statistical, data, and programming skills. Our economists collaborate on research with academic and central bank colleagues from around the world; as a result, so do our research assistants.

The assignments in the Economic Research Department offer our RAs a number of ways to increase their knowledge of economics and their analytical skills. Moreover, RAs have access to a number of training and education opportunities, including courses in computer software and programming languages, as well as undergraduate and graduate courses in economics, statistics, and mathematics.

Working as a RA at the Philadelphia Fed is a rewarding experience, whichever career path you ultimately choose to pursue. Our RAs have gone on to top graduate schools in economics, public policy and law; some have found opportunities in other departments in the Bank; and others have moved into higher positions within the Economic Research Department.

The Bank’s RA program is structured as a two-year program, with most RAs continuing on to graduate programs or other careers in economics or related fields after two years with the Bank. Employment is at-will.

Undergraduate or graduate degree in economics, mathematics, or statistics

Coursework in econometrics or advanced statistics

Programming experience, preferably in STATA, R, Python and/or Matlab

Responsibilities include

Assisting economists with statistical and econometric analysis for long-term, academically oriented research projects.

Assisting economists with reports and presentations on current economic and financial conditions for pre-FOMC briefings

Producing various Bank publications for public consumption

On a day-to-day basis, RAs are expected to

Identify and collect data or other information from academic journals, market sources, and government reports

Write computer programs using statistical software such as Stata, R, Python, Matlab, and/or SAS

Review, organize, and analyze economic and financial data

Write or help prepare reports and presentations in the form of graphs or tables

The job description reflects the higher level of a dual grade job posting.  Candidates who possess a slightly lower level of experience, education, or qualifications may also be considered.

We offer a great benefits package that features

Medical (4 options), Prescription, Dental (3 options), and Vision Insurance with no waiting period

401k/Thrift Plan with generous employer match

Employer-funded Pension Plan

Paid Vacation/Sick Time & Holidays

Monthly $200 Commuter Allowance

Flexible Spending Accounts and Healthcare Spending Accounts

Flexible Work Schedule available in most departments

Life Insurance and Long Term Disability Insurance

Tuition Reimbursement (undergraduate and graduate)

Parental Leave

Free onsite 24/7 Fitness Center including training classes, Peloton bikes and locker room / shower facilities

Onsite Cafeteria & Coffee Shop

Additional Convenience Benefits, Discounts and More…

Additional Information

The Federal Reserve Bank of Philadelphia takes your information privacy seriously. Federal Reserve Bank of Philadelphia staff will only email you from the “@phil.frb.org” domain or through the Workday system “[email protected]”. If you are initially contacted by phone, feel free to request tha