Research Assistant

Federal Reserve Bank of Chicago

Research Assistant

In this role, Research Assistants 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 are broad, spanning micro and macroeconomics, finance, regional economic markets, insurance markets, and economic inequality and inclusion. The research and policy projects help to inform and direct the Bank’s efforts to achieve its mission (see more detail at: 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.

The position requires a two-year commitment and is ideally suited 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. This job has no direct reports. This position is structured as part of a two-year program.

You Will

  • Conduct statistical and economic analyses of current macroeconomic, microeconomic, and regional data, and provide 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.
  • Research economic topics for economists’ articles; on some of these occasions, the efforts will be substantial enough to constitute collaboration with the economists (or department management), leading to jointly authored articles.
  • Recommend, initiate, plan, and execute research projects under the guidance of manager and department researchers. Coordinate research projects and direct activities of research assistants and other staff, as assigned.
  • Perform other duties, as requested.

Your Background

  • Bachelor’s degree
  • Evidence of aptitude for quantitative and analytical skills
  • Some exposure to data/programming
  • Interest in economics/finance

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 and standard software packages, such as but not limited to ArcGIS.
  • Ability to use PC statistical programs, such as but not limited to SAS, STATA, and MATLAB to organize data into files and to perform advanced statistical and econometric analyses.
  • Strong analytical and problem solving skills.
  • Strong organizational and planning skills.
  • Strong oral and written communication skills.

Application Requirements

  • To be considered, all applications must include a Cover Letter, Resume, Unofficial Transcripts, and Letter of Recommendation.
  • Applicants must be U.S. Citizens or hold green cards with the intent to become a U.S. Citizen.
  • Please have your Letter of Recommendation submitted to:
  • Please have your letter writer include your first and last name in the subject name of their email. 

Other Requirements

  • 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.
  • 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.
  • All Federal Reserve Bank of Chicago employees must be fully vaccinated against COVID-19, unless the Bank grants an accommodation based on medical condition or sincerely held religious belief.

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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