badasseconomist Posted January 11, 2012 Share Posted January 11, 2012 I was wondering what type of students get to placed in places like IMF, World Bank, Fed, Bank for International Settlements, UN or in any other central bank of any country. Is there any specific areas of research one needs to concentrate or is there any other criteria? Also, I see the Bank of International Settlements advertise for positions in AEA website, but if you check the placement of the programs in top 10 (roughly) schools I don't find anyone got placed there. What range of schools do they recruit? I know this sounds naive to many people, pardon me for that, but I have no connection to any Economics student or professor to ask for. Quote Link to comment Share on other sites More sharing options...
oleador Posted January 11, 2012 Share Posted January 11, 2012 People who get into IMF, Fed's and other central banks usually specialize in macro, monetary, financial econ, and international macro/finance. BIS is focused on bank regulation, so even though they hire people who do macro and monetary, they mostly focus on those who specialize in financial econ, finance, international finance. As for WB and UN, they mostly look for those who does research in development economics, but they also have people who do macro. Quote Link to comment Share on other sites More sharing options...
badasseconomist Posted January 12, 2012 Author Share Posted January 12, 2012 Thanks oleador! Could you give me some idea about what range of schools do they recruit people from? Because, I couldn't find anyone who got placed in BIS or UN from top 10 or so. Also, where do people who do research in Econometric Theory or Time Series get placed (apart from IB and academia). I know these questions are rather specific, but, I am trying to get the general idea about this. Thanks again. Quote Link to comment Share on other sites More sharing options...
OneArmedEcon Posted January 12, 2012 Share Posted January 12, 2012 Also, where do people who do research in Econometric Theory or Time Series get placed (apart from IB and academia). You will find very few jobs for econometric theorists outside of IB's and academia (and I'm not sure that many IB's actually hire pure theorists). And the private sector firms that do hire generally target very well-established academics, not recent PhD's fresh out of grad school. Quote Link to comment Share on other sites More sharing options...
Guest 8675309 Posted January 12, 2012 Share Posted January 12, 2012 Time-Series is a whole different story from econometric theory, as a lot fewer "pure" time series people. Most time-series theorists also write papers in either macro or finance. Those people can find job in policy institutions like IMF/World Bank and right now there is demand for both those fields on the whole. and I'm not sure that many IB's actually hire pure theorists). And the private sector firms that do hire generally target very well-established academics, not recent PhD's fresh out of grad school. Transfer Pricing, and Quant Risk Analytics takes what they can get, especially if they are not on wall street. Hedge funds and management consulting/litigation consulting (NERA) can be different. There reputation and prestige matter. Transfer Pricing and Risk Analytics tend to pay less and take what ever. You'll have a hard time going back to academia from either job. Quote Link to comment Share on other sites More sharing options...
oleador Posted January 12, 2012 Share Posted January 12, 2012 Could you give me some idea about what range of schools do they recruit people from? Because, I couldn't find anyone who got placed in BIS or UN from top 10 or so. Obviously, the better is the school the better are chances to get a job there. But I've seen many profiles of people in these institutions and they come from all over, say top 100, and some from outside top 100. Quote Link to comment Share on other sites More sharing options...
Zeno Posted January 12, 2012 Share Posted January 12, 2012 Obviously, the better is the school the better are chances to get a job there. But I've seen many profiles of people in these institutions and they come from all over, say top 100, and some from outside top 100. Although keep in mind that the observed allocation contains information about supply and demand. On the supply side: presumably, a lot of people they would have gladly hired went on to subjectively better outside options, and I doubt that's independent of school reputation. Quote Link to comment Share on other sites More sharing options...
oleador Posted January 13, 2012 Share Posted January 13, 2012 Although keep in mind that the observed allocation contains information about supply and demand. On the supply side: presumably, a lot of people they would have gladly hired went on to subjectively better outside options, and I doubt that's independent of school reputation. I agree with you. That's probably one of the reasons why graduates from not highly ranked schools can make it to these institutions. Quote Link to comment Share on other sites More sharing options...
badasseconomist Posted January 13, 2012 Author Share Posted January 13, 2012 You will find very few jobs for econometric theorists outside of IB's and academia (and I'm not sure that many IB's actually hire pure theorists). And the private sector firms that do hire generally target very well-established academics, not recent PhD's fresh out of grad school. Thanks for that info! Quote Link to comment Share on other sites More sharing options...
badasseconomist Posted January 13, 2012 Author Share Posted January 13, 2012 Time-Series is a whole different story from econometric theory, as a lot fewer "pure" time series people. Most time-series theorists also write papers in either macro or finance. Those people can find job in policy institutions like IMF/World Bank and right now there is demand for both those fields on the whole. That's exactly what I was looking for. I saw that Empirical Macroeconomics is Time Series heavy, so, I was wondering how that works Thanks for your info! Quote Link to comment Share on other sites More sharing options...
badasseconomist Posted January 13, 2012 Author Share Posted January 13, 2012 Obviously, the better is the school the better are chances to get a job there. But I've seen many profiles of people in these institutions and they come from all over, say top 100, and some from outside top 100. Although keep in mind that the observed allocation contains information about supply and demand. On the supply side: presumably, a lot of people they would have gladly hired went on to subjectively better outside options, and I doubt that's independent of school reputation. Ok I understand what you mean, thanks. I take that you are saying, ranking of the school may not be as important as the research work? Quote Link to comment Share on other sites More sharing options...
oleador Posted January 13, 2012 Share Posted January 13, 2012 Ok I understand what you mean, thanks. I take that you are saying, ranking of the school may not be as important as the research work? It's hard to say which is more important and to what degree, both for academic and non-academic placements. In academia, usually a graduate is placed at a school ranked lower than the school he graduated from. However, there are plenty of cases when he is placed at a higher ranked school, mostly because of research accomplishments (great job market paper and thesis, publications etc). The same perhaps applies to non-academic placements -- if they find your research interesting enough, then they may take you even if you are from a lower ranked school. The importance of rankings has been extensively discussed on this forum, so I haven't said anything new. Quote Link to comment Share on other sites More sharing options...
Guest 8675309 Posted January 14, 2012 Share Posted January 14, 2012 Ok I understand what you mean, thanks. I take that you are saying, ranking of the school may not be as important as the research work? If your at a top 50 school and y our JMP is a r&r in a top 5 ( AER, Econometrica, JPE, QJE, ReStud). You probably will have interviews at harvard. The thing is if you can't sand a signal that credible the story changes. Quote Link to comment Share on other sites More sharing options...
badasseconomist Posted January 14, 2012 Author Share Posted January 14, 2012 Thank you Economists and oleador. Quote Link to comment Share on other sites More sharing options...
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