How to Get a Job at the Federal Reserve

Written By Staff

Many people in public service or who have a desire to work in a federal position may wonder how they can get a job at the Federal Reserve. The Federal Reserve is essentially the bank for the United States, and it provides a secure and stable economic system for the country. That means jobs at the Reserve carry with them a certain amount of prestige. Federal jobs usually have high salaries and extensive benefits, depending upon your government service grade, so it is easy to see why these positions are sought after.

What kinds of Jobs are Available at the Federal Reserve?

Actually, there are more types of positions than just finance or accounting specialties. According to the Federal Reserve,  the bank system employs people in several areas.

  • Research: These people conduct research on Reserve Board policies and broad economic topics. They publish papers concerning their research on the Board public website too. The Federal Reserve employs research assistants on a two-year basis. These are primarily internship positions after which the employees are admitted to graduate school or get other jobs in finance.

  • Attorneys: These people work on legal issues related to banking in a variety of settings.

  • Data Processors: The Federal Reserve deals with mountains of data, all of which is digitally stored and managed.

  • Financial Analysts and Bank Examiners: The responsibility of these professionals is the monitoring of the twelve Federal Reserve banks to ensure compliance with regulations and to analyze and develop policy.

  • IT Specialists: The Federal Reserve depends upon the reliability, effectiveness and security of its information technology systems.

  • Law Enforcement:These professionals are primarily responsible for the safety of Federal Reserve Board members and their staff on Federal Reserve Board properties.

  • Operational and Administration: The Federal Reserve hires administrative assistants and other support personnel.

  • Others: There are jobs at the Federal Reserve for editors, HR people, and others involved with the management of a large organization.

So, How Do You Go About Getting One of these Positions?

The website FedSmith suggests starting at the Federal Reserve website. There you will find a map of all twelve banks in the Federal Reserve and a list of the openings at each. There are many internships available at the government agency and it may be a great way to get your foot in the door. In addition to the internships listed on the website, each of the twelve banks travels to college campuses to recruit. Another tip is to network. This is especially good if you are currently in public service, because you probably already know someone in federal service who can, in turn, lead you to someone connected with the Reserve. Finally, you will need to make sure you have the right educational background for the position you seek, and that your certification is current and appropriate to the job you want. Then, you can apply from the Federal Reserve website by clicking on a position.

Federal Reserve jobs are plum positions for those who like working in finance and for others who want to work in government. Following the suggestions in this article should help you to get a jobs at the Federal Reserve.