Research Assistant

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Chicago, IL, USA
Posted on Friday, May 31, 2024


Federal Reserve Bank of ChicagoAs a Research Assistant at the Federal Reserve Bank of Chicago you will utilize analytical skills in the areas of Economics, Finance, Statistics, Mathematics and Computer Science to support academic research and policy work by staff economists. Topics of interest to our economists include micro and macroeconomics, finance, regional economic markets, insurance markets, and economic inequality and inclusion. Research and policy projects help to inform and direct the Bank’s efforts to achieve its mission. Specific tasks that research assistants can expect to undertake include quantitative research analyses using economic and financial data; developing code for model estimation; collecting and managing data; and preparation of briefings.

This position is structured as part of a two-year program and requires a two-year commitment. You will work with a variety of economists on their specified team to acquire skills in how to work with data in order to answer research and policy questions. Such skills are valuable when pursuing graduate studies in economics and related fields as well as for careers in industry, policy, and /or the non-profit sector. The level of work required is considered entry-level and staff work under direct supervision. You will have no direct reports. We offer a very competitive salary and benefits package.

For further information, please visit our website: https://www.chicagofed.org/research/research-assistant

Your Principal Duties and Responsibilities:

  • Conduct statistical and economic analyses of current macroeconomic, microeconomic, and regional data, and provides support for the economists in their academic research and policy work.
  • Support the economists in their basic and applied research by following instructions to perform tasks including collecting data, conducting moderately complex statistical analysis, writing code for model estimation, and organizing the presentation of results.
  • Prepare a variety of charts, tables, and descriptive text for department management or other staff economists to use in their briefings of the President and the Board of Directors.
  • Collaborate with economists at all stages of the research process – from literature reviews and data analyses to regressions and presentations of results [on some occasions, efforts will be substantial enough to lead to jointly authored articles with economists]
  • Recommend, initiates, plans, and executes research projects under the guidance of manager and department researchers.
  • Perform other duties, as requested.

Your Education and Experience:

  • Bachelor’s degree (at minimum) with a strong quantitative background (econometrics, statistics, advanced calculus, or computer programming)
  • Evidence of aptitude for quantitative and analytical skills
  • Exposure to and experience using data/programming languages
  • Demonstrated interest in economics

Your Knowledge and Skills:

  • Knowledge of and ability to apply economic theory and quantitative analysis techniques under the general supervision of department researchers.
  • Ability to use PC standard and statistical programs, such as but not limited to R, Python, STATA, MATLAB, ArcGIS, etc. to organize data and to perform advanced statistical and econometric analyses.
  • Strong analytical and problem-solving skills.
  • Strong organizational and planning skills.
  • Excellent oral and written communication skills.


To be considered, all applications must include:

Resume Cover Letter Undergraduate+ Transcript (unofficial is acceptable) At least ONE letter of recommendation**

**Please have your recommender submit a letter directly to: ResearchAssistantLOR@chi.frb.org with your LAST NAME, FIRST NAME in the subject line of the email.

IMPORTANT NOTE: When asked to upload your resume on the Workday Portal, you must upload all supplementary application documents. There will not be an additional prompt to upload documents 2&3. You must upload them on the same page where you upload your resume. Failure to do so will result postponing the review of your application.

Applications will be considered until all positions are filled.

If you have any questions regarding the submission of your application, please reach out to RA.Recruiting@chi.frb.org

Additional Requirements:

  • As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting, who can provide you contact information for our ethics official if necessary.
  • This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements. In addition, all candidates must undergo applicable background checks and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. Citizen and pursue a path to citizenship.
  • This position has additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance and can take approximately two months to be completed. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well.
  • This document indicates the general nature and level of work performed by employees within this position. It is not a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. An employee's responsibilities, tasks, and duties might differ from those outlined in the job description, and other duties, as assigned, are a part of the job. The Federal Reserve Bank of Chicago reserves the right to modify the elements of this job description, as business needs require.

We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status.

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category


Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

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