Scholarship details
The World Bank Young Professionals Program 2022-2023 offers a unique opportunity for young professionals with a passion for international development and leadership potential to advance in exciting top technical and managerial roles at the WBG. Salary, health insurance, mobility premiums, tax breaks, and a pension plan are all included in this program.
The curriculum is designed for highly skilled and motivated individuals with expertise in sectors such as economics, finance, education, government health, social sciences, engineering, urban planning, agriculture, and natural resources, to name a few. Since its inception in 1963, the Young Professionals Program has hired over 1,700 people from nearly 120 countries, ranging from fresh recruits to senior leadership within the World Bank Group. The program was established to recruit exceptional, highly qualified, varied, experienced, and motivated young people who have demonstrated a commitment to international development by academic achievement, professional accomplishment, and leadership potential. The initiative uses a highly selective and competitive recruitment process to bring young people into the World Bank Group’s company and culture, and then supports their rapid integration.
The World Bank and the International Finance Corporation have consolidated their Young Professionals Programs into a single World Bank Group Young Professionals Program (WBG YPP). Three colleges are presently taking applications for the new program (the World Bank, IFC and MIGA). The WBG YPP will recruit and educate future leaders to cooperate successfully across our institutions on collaborative WBG solutions to development challenges, building on the rich tradition of its predecessor programs.
About the Scholarship:
Training
A comprehensive development curriculum has been created to ensure that YPs develop a WBG mindset, gain the foundational knowledge needed to understand and contribute to the WBG, and develop the competencies needed for an entry-level position: collaboration, leadership, integrative thinking, and innovation skills, all while strengthening a culture of continuous learning.
The curriculum involves a mix of group, small group, and individual learning activities in a WBG cohort. Onboarding events, e-learning, cohort discussions with WBG executives, and leadership training are just a few of the activities available, as are career development chats and networking possibilities.
Professional Background
Young Professionals are expected to contribute significantly to their unit’s work program while learning about the WBG’s policies and operations. They will complete a business-driven rotational “stretch/exposure” assignment where they will obtain valuable on-the-job experience as part of their two-year curriculum and in accordance with their units’ business demands and Young Professionals’ objectives.
Work in the Field
Young Professionals in the Operations stream are likely to travel to underdeveloped nations with their colleagues on field business excursions, sometimes known as “missions.” Young Professionals can get a personal look at the difficulties of global development, learn about crucial parts of our work, and meet WBG’s clients on these trips.
Mentoring and coaching
Young Professionals are assigned a YP buddy from the previous year’s group before they join, based on their career interests and cultural background. YP buddies assist new recruits with settling into their new organization and area, as well as understanding the program’s expectations and obstacles. Technical Buddy: An experienced colleague is allocated as a “go-to person” in their hiring units to address technical inquiries in their professions.
Young Professionals can be matched with a technical senior colleague who can advise them on subjects such as career alternatives, “stretch/exposure” assignment opportunities, and help them acquire insight into the organizational culture once they have established into their roles. The WBG’s Youth Program Team is responsible to recruiting and integrating Young Professionals within the organization. The team oversees activities aimed at assisting YPs, such as mentorship and advice, as well as assisting in the development of career strategies. For Young Professionals seeking help and direction, the Youth Program Team is a one-stop shop.
Scholarship Sponsor(s): The World Bank
Scholarship Worth: Fully funded
Study Level: PhD
Nationality: International Students
Scholarship Offer:
The Young Professionals Program provides the following incentives to the recipient:
- Wage: Young Professionals are offered an internationally competitive salary as an entry-level professional in the WBG, based on their education and professional experience.
- Health, Life, Accident, and Other Insurance Programs: Young Professionals and their families (including declared domestic partners) have three comprehensive medical/dental benefit plans to choose from. The WBG also provides free basic life and accident insurance to all employees, with optional life and accident insurance plans available. The WBG covers employees for disability and workers’ compensation at no expense.
- Mobility Premium: Based on family size and nationality, a financial benefit is granted for a specific term to compensate expenditures connected with being an expatriate staff member. Citizens and permanent residents of the United States are not eligible for this benefit.
- Tax Allowance: U.S. workers get an additional quarterly payment to satisfy their World Bank Group income tax payments at the federal, state, and local levels. Expatriates and permanent residents of the United States do not have to pay US income taxes, hence they are not eligible for this benefit.
- Pension Plan: For qualifying employees, the WBG offers a comprehensive pension plan. Depending on eligibility, the staff will receive a lump sum or a pension upon separation from the WBG.
- Relocation and Transportation Benefits: These benefits are only available to employees who are not currently residing in the greater Washington-Baltimore metropolitan area. The World Bank will cover the cost of one-way transportation for employees and their immediate family members from their place of residence. The first paycheck includes a one-time stipend to cover the cost of relocating.
- Financial Help: The World Bank Group offers a variety of financial assistance programs, including a two-year interest-free settling-in loan for persons who relocate for work.
Eligibility for Scholarship
To be eligible for the Young Professionals Program, you must meet the following basic requirements.
- English is a required language.
- Eligible Nations: The Bank’s Group recruitment policy is to hire high-quality personnel from as many countries as feasible, with a preference for nationals of WBG member countries or countries where the Bank operates.
- You must have been born on or after October 1, 1990.
- Qualifications for a graduate degree include:
– Placement at the World Bank: By July 15, 2022, you must have a suitable master’s degree or a PhD by September 2023. Study areas should be linked to a World Bank Business Area.
– To be considered for an IFC or MIGA position, you must have completed a suitable graduate degree by September 11, 2023. A Master’s of Business Administration (or equivalent), Economics, Finance, International Relations, Science, and Engineering are examples of fields of study that are relevant to an IFC or MIGA Business Area.
- Focus on a field that is relevant to the YPP Business Areas.
- Show that you have relevant professional experience or that you are continuing your education at the PhD level.
– For placement with the World Bank: Demonstrate 3+ years of relevant experience, or the equivalent in doctoral-level research.
– Demonstrate 4+ years of relevant expertise in finance, political risk insurance and credit enhancement, project/program development, economic development, and/or consultancy for IFC and MIGA placement. Certifications like the CFA are advantageous.
- English proficiency
- Fluency in at least one of the WBG’s working languages — Arabic, Chinese, French, Portuguese, Russian, and Spanish — is preferred but not needed.
- Demonstrate a dedication to international development and a desire to help others.
- Have excellent academic credentials
- Demonstrate strong client engagement, communication, and team-building abilities.
- Demonstrate an understanding of key industry trends.
- Demonstrate a dedication to international development and a desire to help others.
- Demonstrate strong client involvement and team leadership abilities.
- Have excellent academic credentials
- Have you worked in a developing country abroad?
Nationality
The World Bank Young Professionals Program 2022 (YPP) is open to to all international students
Application Procedure
To apply for the Young Professionals Program, please follow the steps below:
(1) The following documents must be submitted:
- Academic Credentials* on your resume/CV
- 2 Quick Essays
- A Synopsis of the Thesis or Dissertation (World Bank candidates, only if applicable)
- 3 Recommendations from Professionals or Academics
(2) Please double-check the following items before applying:
You meet the Young Professionals Program’s minimum requirements and have all of the necessary documents on hand, including key dates, an updated Curriculum Vitae (CV), Education Certificates/Transcripts, Ph.D. Dissertation/Thesis Master’s topics (short summary), if applicable, and the Application Essay.
(3) You will not be able to make any modifications or adjustments to your application once it has been submitted.
(4) You will receive an email confirmation and a YPP ID number after successfully submitting your application.
(5) As the application process progresses, applicants will be notified of their status.
Application Deadline
The application deadline for World Bank Young Professionals Program 2022 (YPP) is between June 15 – July 15
