Research Assistant

Federal Reserve System; Chicago (IL); On-site; USD 68,000 - 83,000; Full time

Job summary

Federal Reserve Bank of Chicago invites recent graduates to join a two-year Research Assistant Program, working with economists on questions affecting the economy, financial markets, and households. You will manage data, perform econometric analyses, and present results through charts and reports.

You will gain hands-on experience across macroeconomics, microeconomics, finance, and regional economics, while developing programming and professional skills for advanced study or policy careers.

Qualifications

• Bachelor’s degree or higher in economics, finance, statistics, mathematics, computer science, data science, public policy, or a related field with strong economics and mathematical coursework.
• Strong quantitative, analytical, and problem-solving skills.
• Familiarity with statistical programming languages such as Stata, R, Python, or MATLAB.
• Strong written and verbal communication skills.
• The ability to work independently and collaboratively.

Responsibilities

• Collecting, cleaning, managing, and analyzing economic and financial data.
• Conducting statistical and econometric analysis and developing research code using tools such as Stata, R, Python, and MATLAB.
• Conducting literature reviews and synthesizing academic and policy research.
• Preparing charts, tables, written analysis, presentations, and briefing materials.
• Supporting research papers, publications, and time-sensitive policy analysis.
• Collaborating with economists, researchers, and other Research Assistants across projects.

Skills

Quantitative skills

Programming

Data analysis

Communication

Education

Bachelor's degree or higher in economics/related field

Tools

Stata

R

Python

MATLAB

Job description

Company

Federal Reserve Bank of Chicago

Are you a curious, quantitatively skilled recent graduate who wants to understand how economic research informs real-world policy? Join the Federal Reserve Bank of Chicago’s Research Assistant Program and work alongside economists and researchers on important questions facing the economy, financial markets, businesses, and households.

As a Research Assistant, you will gain hands‑on experience across the research process, including managing data, conducting econometric analysis, answering economic questions, and communicating results through compelling charts, written analysis, and presentations. You will contribute to both long‑term research and timely policy analysis while building the technical and analytical skills needed for a successful career in economics.

This is a two‑year opportunity designed for recent graduates who want to deepen their research capabilities, explore the field of economics, and prepare for the next stage of their careers.

What You’ll Do

Research Assistants work closely with economists and research staff across a range of economic and policy areas, including macroeconomics, microeconomics, finance, and regional economics.

Responsibilities include:

• Collecting, cleaning, managing, and analyzing economic and financial data.

• Conducting statistical and econometric analysis and developing research code using tools such as Stata, R, Python, and MATLAB.

• Conducting literature reviews and synthesizing academic and policy research.

• Preparing charts, tables, written analysis, presentations, and briefing materials.

• Supporting research papers, publications, and time‑sensitive policy analysis.

• Collaborating with economists, researchers, and other Research Assistants across projects.

Your Development

The Research Assistant Program provides opportunities to develop your research, technical, and professional skills through:

• Training in programming, econometrics, data analysis, and research tools.

• Research seminars featuring Chicago Fed economists and visiting scholars.

• Workshops, conferences, coursework, and other learning opportunities.

• Mentorship and professional development focused on graduate study and career planning.

• Building relationships across the Federal Reserve and broader research community.

The Research Assistant Program is designed to be an important step in your career. RAs pursue futures in either graduate studies of economics, public policy, finance, law, and data science or continue with careers across government, academia, and industry.

Who We’re Looking For

We seek candidates with:

• A bachelor’s degree or higher in economics, finance, statistics, mathematics, computer science, data science, public policy, or a related field with strong economics and mathematical coursework.

• Strong quantitative, analytical, and problem‑solving skills.

• Familiarity with statistical programming languages such as Stata, R, Python, or MATLAB.

• Strong written and verbal communication skills.

• The ability to work independently and collaboratively.

• Curiosity, initiative, and a demonstrated interest in economics, research, or public policy.

Previous research experience is valued but not required. We welcome candidates with a range of academic and professional experiences who demonstrate the skills and intellectual curiosity needed to succeed.

What We Offer

• Full‑time, two‑year position with competitive salary and benefits.

• Direct collaboration with economists and research staff.

• Structured training, mentorship, and professional development.

• Opportunities to participate in coursework, workshops, conferences, and seminars.

• Opportunities to contribute to Chicago Fed research and publications, including potential opportunities for joint authorship.

• A collaborative and supportive Research Assistant community.

Learn more about the Chicago Fed Research Assistant Program:
https://www.chicagofed.org/research/research-assistant

Additional Details

• The expected starting salary for this position is $75,000 annually in addition to annual performance‑based discretionary bonuses. Final salary and offer will be determined based on the applicant’s relevant experience, skills, internal equity, and alignment with geographic and other market data.

• The Chicago Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https://www.chicagofed.org/careers/thebenefits

• A continuous learning environment with opportunities to gain new skills and grow your career.

Additional Requirements

• Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future.

• 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.

• 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 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

Regular

Job Exempt (Yes / No)

Yes

Job Category

Economics/Research Family Group

Work Shift

First (United States of America)

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.