Pursue your education and professional life in World Bank countries of operations. Good news! Applications for World Bank Young Professionals Program are currently open. In this article, we will explain in detail about this scholarship program, its benefits and step by step application process.
World Bank Young Professionals Program 2023-2024 is a distinctive chance to develop in intriguing top technical and managerial positions in the WBG for young practitioners with both a passion for international development and leadership potential. This program provide salary, health insurance, mobility premium, tax allowance and pension plan.
The program is intended for extremely qualified and motivated people who are competent in fields appropriate to WBG technical / operations such as economics, finance, education, government health, social sciences, engineering, urban planning, agriculture, natural resources, to name a few.
The Young Professionals Program has hired more than 1,700 individuals from almost 120 nations since its founding in 1963, ranging from fresh recruits to senior leadership within the World Bank Group. The program has been created and is still in place to attract excellent, extremely skilled, diverse, experienced and motivated young people who have shown dedication to international development, backed by academic success, professional accomplishment and leadership potential.
The program recruits into the company and culture of the World Bank Group through a extremely selective and competitive method and then promotes the fast inclusion of the newly hired young professionals.
The World Bank and IFC have merged their respective Young Professionals Programs into one World Bank Group Young Professionals Program (WBG YPP).
The new program is now accepting applications on behalf of three institutions (the World Bank, IFC and MIGA). Building on the rich legacy of its predecessor programs, the WBG YPP will recruit and develop future leaders to collaborate effectively across our institutions on joint WBG solutions to development challenges.
Scholarship Summary
- Level of Study: Fellowship/Training
- Institution(s): The World Bank
- Study in: Countries of operations
- Deadline: Applications are open June 15 – July 15 for all profiles and from August 16 – September 20 for IFC and MIGA profiles only.
Scholarship Coverage
Young Professionals Program provide the recipient with the following benefits:
- Salary: As an entry-level professional in the WBG, Young Professionals are offered an internationally competitive salary, based on their education and professional experience.
- Health, Life, Accident, and Other Insurance Programs: Young Professionals and their families (including declared domestic partners) may choose from three comprehensive medical/dental benefit plans. The WBG also provides basic life and accident insurance to all staff at no cost, and staff can elect optional life and accident insurance plans. The WBG provides disability and workers’ compensation coverage to staff at no cost.
- Mobility Premium: A financial benefit is provided for a fixed period to cover expenses associated with being an expatriate staff member, based on family size and nationality. This benefit is not available for U.S. citizens and U.S. permanent residents.
- Tax Allowance: U.S. staff receive an additional quarterly payment to cover the federal, state, and local income tax liabilities on their World Bank Group income. Expatriates and U.S. permanent residents do not incur U.S. income tax liability and are thus not eligible for this benefit.
- Pension Plan: The WBG sponsors a comprehensive pension plan for eligible staff. Upon separation from the WBG, either a lump sum or a pension will become payable to the staff based on eligibility.
- Relocation and Transportation Benefits: These benefits are only applicable to staff who are not residents of the greater Washington-Baltimore metropolitan area at the time of appointment. The World Bank will bear the cost of one-way transportation of staff and immediate dependent family from the staff member’s residence. A one-time grant is included in the first paycheck to cover the cost of relocation
- Financial Assistance: The World Bank Group offers several financial assistance programs, including a two-year interest-free settling-in loan to those who relocate upon appointment.
Young Professionals Program Features
Training
A comprehensive development curriculum has been designed to ensure that YPs develop a WBG mindset, gain the foundational learning needed to understand and contribute to the WBG, and build the competencies required for an entry-level position: collaboration, leadership, integrative thinking, and innovation skills while strengthening a culture of continuous learning.
The curriculum includes a blend of learning activities in a WBG cohort, small groups or individually. These activities range from onboarding activities, e-learning, cohort discussions with WBG leaders and leadership training, to career development conversations and networking opportunities.
Professional Experience
Young Professionals are expected to make significant contributions toward their unit’s work program while they gain a broad overview of the WBG’s policies and work. As part of their two-year program and in line with their units’ business needs and Young Professionals’ interests, they will undertake a business-driven rotational “stretch/exposure” assignment where they will gain valuable on-the-job experience.
Field Work
Young Professionals in the Operations stream are likely to join colleagues on field business trips, also called ‘missions,’ in developing countries. These missions allow Young Professionals to experience firsthand the challenges of global development, understand key aspects of our work, and meet WBG’s clients.
Coaching and Mentoring
YP Buddy: Before they join, Young Professionals are assigned a YP buddy from the previous year’s group, based on their professional interests and cultural background. YP buddies help new recruits to better settle in the new organization and location, as well as to understand the expectations and challenges of the program.
Technical Buddy: In their hiring units, an experienced colleague is assigned as a “go-to person” to answer technical questions in their fields.
WBG Mentor: Once they have settled into their jobs, Young Professionals can be paired with a technical senior colleague who can mentor them on topics such as career options, “stretch/exposure” assignment opportunities, and help them gain insight into the organizational culture.
Youth Program Team: The Youth Program Team is dedicated to recruiting and helping integrate Young Professionals into the WBG. The team coordinates activities designed to support YPs, including mentoring and guidance, helps develop career strategies, and others. The Youth Program Team is a one-stop shop for Young Professionals looking for support and guidance.
Eligibility Criteria for World Bank Young Professionals Program
The following are the minimum requirements to be eligible for the Young Professionals Program.
- Required Languages: English
- Eligible Countries: The Bank’s Group recruitment policy is to hire staff of the highest caliber, on as wide a geographical basis as possible, with preference to nationals of WBG member countries or countries of operations.
- Be born on or after October 1, 1990
- Graduate degree requirements:
– For World Bank placement: Complete a relevant master’s degree by July 15, 2022 or PhD before September 2023. Fields of study should be related to a World Bank Business Area.
– For IFC & MIGA placement: Complete a relevant graduate degree before September 11, 2023. Fields of study should be related to an IFC or MIGA Business Area, including but not limited to a Master’s of Business Administration (or equivalent), Economics, Finance, International Relations, Science and Engineering. - Specialize in a field relevant to YPP Business Areas
- Demonstrate relevant professional experience or continued study at the doctoral level
– For World Bank placement: Demonstrate 3+ years of relevant experience, or the equivalent in continued study at the doctoral level.
– For IFC & MIGA placement: Demonstrate 4+ years of relevant experience in finance, political risk insurance and credit enhancement, project/program development, economic development and/or consulting. Certifications such as the CFA are a plus. - Fluency in English
- Full proficiency in one or more of the WBG’s working languages — Arabic, Chinese, French, Portuguese, Russian, and Spanish — is desired, but not required
- Display a commitment and passion for international development
- Possess outstanding academic credentials
- Exhibit excellent client engagement, communication and team leadership skills
- Demonstrate knowledge of relevant sector trends
- Display a commitment and passion for international development
- Exhibit excellent client engagement and team leadership skills
- Possess outstanding academic credentials
- Have international development country experience
How to Apply for Young Professionals Program?
Please follow the following instructions to apply for Young Professionals Program:
(1) Following documents are required:
- Resume/CV
- Academic Credentials*
- 2 Short Essays
- Short Summary of Thesis or Dissertation (World Bank candidates, only if applicable)
- 3 Professional or Academic Recommendations
(2) Before You Apply, please ensure that:
- You meet the minimum requirements for eligibility for the Young Professionals Program and,
- You have all the information at hand including key dates, an updated Curriculum Vitae (CV), Education Certificates/Transcripts, Ph.D. Dissertation/Master’s Thesis topics (short summary), if applicable, and the Application Essay ready to be uploaded.
(3) Once you submit your application, you will not be able to make any changes/updates.
(4) Upon successful submission of your application, you will receive an email confirmation along with a YPP ID number.
(5) Applicants will be informed of their status as the process moves along.
Website
To know more about Young Professionals Program, please visit official websites:
Related Scholarships: