The Federal Reserve Bank of New York is said to be a prized position for aspiring economists. Located in New York, this bank is one of the 12 regional reserves banks that make up the United States Reserve System. It serves New York State, Puerto Rico, the Virgin Islands and parts of Connecticut and New Jersey.
Although it serves a small area, it is the larges reserve bank when considering the volume of activity.
Reserve banks take part in many different activities such as regulating financial institutions and providing financial services to the federal government and United States commercial banks.
About one-third of the world’s monetary gold reserves are located in the Federal Reserve Bank of New York!
Fifteen undergraduate and fifteen graduate students are selected for the summer internship. The duration of the internship is 12 to 14 weeks. Some of the projects that interns may be involved in consist of assessing banking applications, writing research papers, and conducting bank examinations. This program also offers interns the opportunity to participate in luncheons and seminars with senior management. This salary to this internship varies. Graduate interns may earn up to $1,300 a week.
How to apply:
To be considered for the summer internship program, applications must be received by January 31st. A transcript is required. Undergraduate positions are open to college juniors whom major in a business disciple (i.e., economics, finance, business, etc.). Graduate positions are available to students who have completed their first year in an MBA or public policy programs. It is important for applicants to have a strong background in computer, writing, and analytical skills, while also maintaining academic success.
To learn more about internships with the Federal Reserve Bank visit: www.newyorkfed.org/careers/summerintern.html