Young Professionals Program (World Bank)

Very difficult to get in. Take a look at the CV’s of the people there. It’s even more difficult for an American born candidate because of international competition and quotas. I’ve known a couple of people who joined the Bank via that route. The skill sets vary widely but they recruit a lot of economics graduates. CFA is probably insufficient by itself to impress them. I think the majority of people who go through that program become lifers at the Bank.
 
Just had a look and I think I am going to apply. I make the age limit by 4 months (Dec 76), have 2 masters (MA in business ethics and MBA) and have lived in two African countries. Born in Namibia and lived in SA.
I have also done a lot of development focused work, all private equity though.
So what do you think, do I have a shot?
 
WB doesn’t pay much. Good if you are just starting out, but if you are in your 30s, you’ll most likely be taking a pay cut.
 
cfaBANANA, I used to do a lot of development work in my earlier career in DC, and you sound like the sort of person that Young Professionals would definitely like to have, although it would be even better if you had an economics graduate degree in there somewhere).
It would be really good if you knew someone at the bank, since they are more “european” about the importance of connections. By that, I mean that americans also favor people they know through connections, but tend to feel a little guilty about the possibility of playing favorites. I don’t sense that other nationalities (other than perhaps canadians) worry about it so much.
 
Thanks for the advice. Will make a post if something comes of it.
 
I’d say go for it - the salary is tax-free anyway, so even if it’s a cut it may still work out. Plus you get great benefits, plus cfaBANANA could get himself a transfer out of RSA (if he wants it).
Good luck
Ps. Banana, which varsity did you go to?
 
Hey newsuper
You local? As for getting out, yes I am on my way either to London or this. My reasons for leaving are not the usual and I am not emigrating, only building up cash and working on my international experience. My wife and I plan to move back once our kids go to school and we don’t even have kids yet, so that is the time frame. We are about two months away from getting our HSMP so that is the primary plan. For me to move into IB / M&A or a related area, while my wife is a dentist.
I studied at Stellenbosch and loved it, but next time round I will be going for a top tier international school to do a PHD, but only after finishing my CFA.
Cheers
 
Ah, I went to UCT, but we are roughly the same age so we may have bumped into each other at inter-varsity. About 5 years ago I was backpacking through the Middle East, met an Australian girl who was heading back to Australia, followed her and ended up on the east of Australia. Such is the way life goes…:-)
 
Yep. I have some friends in your neck of the woods who are continually bugging me to come over, so it is on the plan for some time after next year.
Cheers
 
hmmm sounds like the last place i would want to work at… but nethertheless very interesting
 
TheEconomist Wrote:
——————————————————-
> Very difficult to get in. Take a look at the CV’s
> of the people there. It’s even more difficult for
> an American born candidate because of
> international competition and quotas. I’ve known
> a couple of people who joined the Bank via that
> route. The skill sets vary widely but they
> recruit a lot of economics graduates. CFA is
> probably insufficient by itself to impress them.
> I think the majority of people who go through
> that program become lifers at the Bank.
I concur with this comment, but not sure about the “lifers” bit. Maybe there is a selection bias towards those that are likey to stay…..vs. those that are looking for the experience. My guess would be that a mojority would leave, due to limited growth opportunities and more compelling private side jobs.
 
Yep, I agree. I am looking for the exposure, but I also know that is a long shot.
 
Most of theprople applying for these positions consider themselves part of the international development profession, not the finance/asset management profession. In that world, a World Bank job is about as secure, glamorous, well paid, and cushy as you can get.
A large percentage of World Bank types are or would like to be “lifers”. They’re not considering themselves as low-paid, low-opportunity people, because they’re not comparing themselves to investment bankers and the Warren Buffets of the world. They’re comparing themselves to the Mother Theresas and maybe Madeline Albrights.
 
What kind of young professionals program is this if they require “significant professional experience” ?!
 
I may have missed it, but they no longer provide paragraph profiles of some of the YP’s at the Bank. Things may have changed, but those were some of the most impressive resumes for people their ages I have ever seen. Landing a place in the YP program was, and I suspect still is, very rare. They will pick 1 or 2 from a few top schools each year, and those people have prior work experience. People from no name schools need not apply.
As stated above, these are economic development and economics jobs, not finance. There are plenty of MBA and CFA types in the Treasury Department of the Bank.
 
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