Summer 2027 Intern- PhD Data Science or Computer Science at The Federal Reserve System

Company

Federal Reserve Bank of Chicago

The Federal Reserve Bank of Chicago is recognized as one of the most influential, trusted and prestigious financial institutions in the world. We serve the Seventh District encompassing Iowa and most of Illinois, Indiana, Michigan, and Wisconsin, and is one of the 12 regional Reserve Banks in the United States. Together with the Board of Governors in Washington, D.C., the 12 Banks constitute the nation’s central bank.

INTERNSHIP PROGRAM DETAILS:

The Federal Reserve Bank of Chicago Summer Intern Program is a paid internship designed to give undergraduate, graduate, and doctoral students direct exposure to our Bank’s operations. Beginning in early June, interns commit to 40 hours a week for 10-12 consecutive weeks onsite or hybrid depending on the department’s requirement.

What makes this internship unique:
This internship gives you the opportunity to work for a regulatory bank dedicated to the public good by engaging in project-based assignments and professional development activities aligned with our mission. You will gain insights to the Federal Reserve System while contributing to your assigned department and build relationships with subject matters experts, Bank leadership, and fellow interns. You will work in a collaborative environment that fosters inclusion, reflecting all the communities we serve.

REQUIREMENTS:

U.S. Citizen or Permanent Residency
Must be a current, matriculated student in an accredited program graduating December 2027 or later
2.75 GPA (unofficial transcripts might be asked to submit)
Ability to work 40 hours week throughout the duration of the 10–12 week internship program.

PREFERRED SKILLS:

Intermediate working knowledge of Word and Excel
Strong interpersonal and communication skills
Ability to verbally present information and respond to questions from small to medium groups
Ability to interpret data and analytics to develop insights, tell stories, support the decision-making process, and measure impact
Detail-oriented and self-motivated
Ability to interact with internal and external clients professionally in a fast paced, high-energy environment
Ability to be an independent worker with a team player attitude

APPLICATION PROCESS:

October - November 2026 – Applications due
November 2026 through February 2027 – Interviews conducted and offers extended
June 7, 2027, or June 14, 2027 – Internship start dates

OTHER THINGS TO KNOW:

Salary Range: The anticipated hourly compensation range for this internship is $20 to $33, with the specific rate offered determined by the candidate's academic level.

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 may require additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance. 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

Temporary

Job Exempt (Yes / No)

Job Category

Internship Family Group

Work Shift

First (United States of America)

The 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.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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