Two job advertisements (grants) – European Central Bank

The European Central Bank has launched: PhD Student Research Assistant Traineeship– Research Task Force on Heterogeneity in Macroeconomics

General Information

Type of contract  PhD traineeship

Who can apply?  EU nationals eligible for our traineeship programme

Grant  The trainee grant is €1,970 per month plus an accommodation allowance (see further information section)

Working time  Full time

Place of work  Frankfurt am Main, Germany

Closing date  16.12.2022

Your team

You will be part of the Directorate General Research (DG/R), which carries out and coordinates economic research on monetary policy, financial stability, and the ECB’s banking supervision and regulatory activities. We are currently working on analysis exploring the effectiveness and side effects of unconventional monetary policy measures, including their impact on the banking/financial sector and different groups of households and firms.

In your role as a PhD Student Research Assistant trainee, you will support the ECB’s new Research Task Force on Heterogeneity in Macroeconomics. The task force has been launched with a view to furthering our understanding of (i) how heterogeneity across households, firms and banks shapes the aggregate transmission of policy measures and (ii) the uneven effects that policy measures have on different groups of economic agents. You will work closely with your colleagues in DG/R and also with economists in the Directorate General Economics and the Directorate General Monetary Policy. 

The ECB is an inclusive employer and we strive to reflect the diversity of the population we serve. We encourage you to apply irrespective of age, disability, ethnicity, gender, gender identity, race, religious beliefs, sexual orientation or other characteristics.

Your role

As a PhD Student Research Assistant trainee, you will:

  • develop mathematical, statistical and econometric procedures for research projects;
  • support and maintain software tools and hardware installations;
  • present data and results in conjunction with basic economic and statistical analysis.

The position offers you excellent opportunities to work closely with our research economists. You will support them in academic research projects and operational tasks, such as the preparation of policy-related notes for the ECB’s Executive Board. The position will also expose you to new ideas and experiences that will provide a useful foundation for your future career. You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens. 

Qualifications, experience and skills

Essential: 

  • a master’s degree and at least two years of PhD studies in economics, statistics, finance, computer science, mathematics or a related field;
  • in addition, an excellent command of MATLAB, Python or R;
  • familiarity with one or more of the following research techniques: solving heterogeneous agent models, solving non-linear models with occasionally binding constraints or inaction regions, Bayesian estimation of dynamic stochastic general equilibrium models, sequential Monte Carlo methods, panel data analysis of microdata and machine learning algorithms;
  • a good knowledge of the MS Office package;
  • an advanced (C1) command of English and an intermediate (B1) command of at least one other official language of the EU, according to the Common European Framework of Reference for Languages.

Desired: 

  • familiarity with one or more of the following databases/data providers: Bureau van Dijk, S&P Global Market Intelligence (formerly SNL Financial) and the Household Finance and Consumption Survey (HFCS).

You are curious and eager to learn, and want to further develop your ability to analyse complex information. You are keen to collaborate with others, pursue team goals and learn from other people’s diverse perspectives. You strive to know and anticipate stakeholder needs, and will signal any need for change and propose alternative solutions.

You are motivated to contribute to the ECB’s mission, to serve the citizens of the EU as a member of a public institution and to work with colleagues from all over Europe. You are keen to be part of our team and to use your skills and competencies to achieve the aims of this position.

Further information

PhD traineeship of between 6 and 12 months in total.

Other details on the conditions applicable to traineeships at the ECB can be found on our website.

Application and selection process

Further information on how to apply is available on our website.

The recruitment process for this position will include an online interview. 

If you are not selected for this position but are still considered suitable, you will be placed on a reserve list for 12 months from the closing date for applications, from which you might be considered for similar positions within the ECB.


The European Central Bank has launched: Economist Graduate Programme 2023

General Information

Type of contract  Two-year fixed-term contract starting on 1 September. It may be extended for one additional year upon successful completion of the programme.

Who can apply?  EU nationals

Salary  E/F (bracket 1 – step 1) full time monthly net salary: €4,229 plus benefits, for further information see what we offer.

Working time  Full time

Place of work  Frankfurt am Main, Germany

Closing date  03.01.2023

Your team

We are looking for up to four highly talented recent graduates with postgraduate degrees, preferably PhDs, for the ECB’s Graduate Programme in Economics. 

We will give you a challenging two-year assignment in one business area matched to your fields of expertise, your interests – which you can indicate during the application process – and our organisational needs. During the two-year assignment you will spend a six-month period in the Directorate General Research.

Your successful completion of the programme will be assessed by the Graduate Programme Committee on the basis of performance reviews and your project paper, which you will prepare and submit before the end of the second year. 

The ECB is an inclusive employer and we strive to reflect the diversity of the population we serve. We encourage you to apply irrespective of age, disability, ethnicity, gender, gender identity, race, religious beliefs, sexual orientation or other characteristics

Your role

The Graduate Programme offers you excellent development opportunities, valuable experience and an insight into the ECB’s tasks and working methods. It could be your starting point for an exciting career at the ECB.

Your assignments can be in the following business areas at the ECB: Economics, Monetary Policy, International & European Relations, Macroprudential Policy & Financial Stability and Research. In these areas we perform analytical and policy work in the field of economics, as well as working to optimise the analytical framework and tools. We lay the groundwork for policy decisions and communications by providing high-quality analysis and advice. We contribute to the intellectual leadership of the ECB, represent the ECB in external fora and maintain productive relationships with stakeholders.

We will assign you an experienced colleague as a mentor to provide you with support, advice and guidance on participating successfully in the programme. You will also get a tailor-made training programme that includes a number of in-house and external training opportunities.

You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens.

Qualifications, experience and skills

Essential: 

Desired: 

  • a sound knowledge of macroeconomics, international economics, monetary economics and/or international finance, including banking, financial markets and financial intermediation;
  • advanced knowledge of MS Office applications, including Word, Excel and PowerPoint;
  • advanced knowledge of time series or panel econometrics;
  • strong programming skills, especially experience with MATLAB, STATA, Python and R.

You engage collaboratively with others. You pursue team goals and learn willingly from other people’s diverse perspectives. You signal any need for change by explaining it and proposing alternative solutions. You analyse complex information effectively and can evaluate different views to arrive at solutions. You know and anticipate stakeholder needs.

You are motivated to contribute to the ECB’s mission, to serve the citizens of the EU as a member of a public institution and to work with colleagues from all over Europe.

You are motivated to be a part of our team and to use your skills and competencies to achieve the objectives of this position.

Further information

This is a two-year fixed-term contract which we aim to start from 1 September 2023 and to last until 31 August 2025. It may be extended for one additional year upon successful completion of the programme. 

While on the Graduate Programme you can apply for vacancies that are advertised both internally and externally. 

Upon successful completion of the programme and subject to business needs, participants are eligible to be directly appointed to positions as Economists.

You can find additional information on the Graduate Programme on our website (https://www.ecb.europa.eu/careers/what-we-offer/graduate/html/index.en.html ).

Application and selection process

The recruitment process for this position will be conducted remotely. The recruitment process for this position will include a written exercise, a presentation and interviews.

If you are not selected for this position but are still considered suitable, you will be placed on a reserve list (see step 4 of How we hire), from which you might be considered for similar positions within the ECB.