The World Bank Young Professionals Program (YPP) 2023 – APPLY NOW
About The World Bank Young Professionals Program
Embark on an educational and professional journey in World Bank member countries through the World Bank Young Professionals Program. Exciting news! Applications are currently open for the program, and in this article, we will provide detailed information about the scholarship program, its advantages, and the step-by-step application process.
The World Bank Young Professionals Program 2023-2024 offers a unique opportunity for young professionals with a passion for international development and leadership potential to grow in impactful technical and managerial positions within the World Bank Group. Participants in this program receive a salary, health insurance, mobility premium, tax allowance, and a pension plan.
This program is designed for highly qualified and motivated individuals who specialise in fields relevant to the technical and operational work of the World Bank Group. These fields include economics, finance, education, government health, social sciences, engineering, urban planning, agriculture, natural resources, and more.
Since its establishment in 1963, the Young Professionals Program has employed over 1,700 individuals from nearly 120 countries, ranging from recent graduates to senior leaders within the World Bank Group. The program aims to attract exceptional young people who possess a strong commitment to international development, backed by academic excellence, professional achievements, and leadership potential.
2023 Western Union Foundation Fellowship
Through a highly selective and competitive process, the program recruits individuals who align with the values and culture of the World Bank Group. It then facilitates the seamless integration of these newly hired young professionals.
The World Bank and IFC have merged their respective Young Professionals Programs into a single program called the World Bank Group Young Professionals Program (WBG YPP). This new program is now accepting applications on behalf of three institutions: the World Bank, IFC, and MIGA. Building on the legacy of its predecessor programs, the WBG YPP aims to recruit and develop future leaders who can effectively collaborate across institutions to tackle development challenges.
Scholarship Summary:
- Study Level: Fellowship/Training
- Institution: The World Bank
- Study Location: World Bank member countries
- Deadline: Applications are open from June 15 to July 15 for all profiles and from August 16 to September 20 for IFC and MIGA profiles only.
Scholarship Coverage:
The Young Professionals Program offers the following benefits to recipients:
- Salary: Young Professionals receive an internationally competitive salary based on their education and professional experience.
- Insurance Programs: Comprehensive medical, dental, life, and accident insurance plans are available for Young Professionals and their families.
- Mobility Premium: Financial support is provided for a fixed period to cover expenses related to being an expatriate staff member.
- Tax Allowance: U.S. staff members receive additional quarterly payments to cover income tax liabilities.
- Pension Plan: The World Bank Group sponsors a comprehensive pension plan for eligible staff.
- Relocation and Transportation Benefits: These benefits assist staff members who are not residents of the Washington-Baltimore metropolitan area at the time of appointment.
- Financial Assistance: Various financial assistance programs, including an interest-free settling-in loan, are available to support staff members relocating upon appointment.
Young Professionals Program Features:
Training: A comprehensive development curriculum is designed to foster a WBG mindset, provide foundational learning about the organization, and develop competencies such as collaboration, leadership, integrative thinking, and innovation skills.
Professional Experience: Young Professionals contribute significantly to their units’ work programs while gaining a broad understanding of the World Bank Group’s policies and activities. They also undertake business-driven rotational assignments to gain valuable on-the-job experience.
Field Work: Young Professionals in the Operations stream have the opportunity to join colleagues on field business trips, known as “missions,” in developing countries. These missions offer firsthand experience of global development challenges and facilitate interactions with the World Bank Group’s clients.
Coaching and Mentoring:
- YP Buddy: Before joining the program, Young Professionals are assigned a YP buddy from the previous year’s group who shares similar professional interests and cultural background. YP buddies help new recruits settle into the organization, understand program expectations and challenges, and provide guidance.
- Technical Buddy: Within their hiring units, Young Professionals are assigned an experienced colleague as a “go-to person” to answer technical questions in their respective fields.
- WBG Mentor: Once settled into their roles, Young Professionals have the opportunity to be paired with a senior colleague who can serve as a mentor. These mentors provide guidance on career options, opportunities for “stretch/exposure” assignments, and insights into the organizational culture.
- Youth Program Team: The dedicated Youth Program Team supports the recruitment and integration of Young Professionals into the World Bank Group. They coordinate activities such as mentoring, career strategy development, and other initiatives. The Youth Program Team serves as a centralized resource for Young Professionals seeking support and guidance.
Eligibility Criteria for World Bank Young Professionals Program:
To be eligible for the Young Professionals Program, applicants must meet the following minimum requirements:
- Required Languages: Proficiency in English.
- Eligible Countries: The World Bank Group aims to hire staff from a wide geographical basis, with preference given to nationals of WBG member countries or countries of operations.
Additional eligibility criteria include:
- Birth Date: Applicants must be born on or after October 1, 1990.
- Graduate Degree: For World Bank placement, applicants must have completed a relevant master’s degree by July 15, 2022, or a PhD before September 2023. Fields of study should be related to a World Bank Business Area. For IFC and MIGA placement, applicants must have completed a relevant graduate degree before September 11, 2023, in fields related to IFC or MIGA Business Areas, such as Business Administration, Economics, Finance, International Relations, Science, and Engineering.
- Professional Experience: World Bank placement requires a demonstration of at least 3 years of relevant experience or the equivalent in continued study at the doctoral level. IFC and MIGA placement require a demonstration of at least 4 years of relevant experience in finance, political risk insurance and credit enhancement, project/program development, economic development, and/or consulting. Certification such as the CFA is considered a plus.
- Language Proficiency: Fluency in English is required. Full proficiency in one or more of the WBG’s working languages—Arabic, Chinese, French, Portuguese, Russian, and Spanish—is desired but not mandatory.
- Commitment to International Development: Applicants should exhibit a strong commitment and passion for international development.
- Academic Credentials: Outstanding academic credentials are expected.
- Client Engagement and Leadership Skills: Excellent client engagement, communication, and team leadership skills are highly valued.
- Sector Knowledge: Demonstrated knowledge of relevant sector trends is beneficial.
How to Apply for the Young Professionals Program:
To apply for the Young Professionals Program, please follow these instructions:
- Prepare the following documents:
- Resume/CV
- Academic credentials
- Two short essays
- Short summary of thesis or dissertation (for World Bank candidates if applicable)
- Three professional or academic recommendations
- Ensure that you meet the minimum eligibility requirements for the program and have all the necessary information and documents ready, including an updated CV, education certificates/transcripts, dissertation or thesis topics (brief summary if applicable), and the application essay.
- Once you submit your application, note that no further changes or updates can be made.
- Upon successful submission, you will receive an email confirmation along with a YPP ID number.
- Applicants will be informed of their status as the selection process progresses.
For more information about please visit The World Bank Young Professionals Program
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