Young Professionals Program (YPP)! Good news for international students who want to pursue their education and career in one of the World Bank Group (WBG). The World Bank (YPP) program is now accepting applications. We will go through the details of this scholarship program, its perks, and the application process step by step in this article.
The World Bank Young Professionals Program 2023 is a one-of-a-kind chance for young professionals who are interested in international development and have leadership skills to move up in the World Bank Group and take on exciting top technical and managerial roles. Salary, health insurance, mobility premiums, tax breaks, and a pension plan are all included in this program.
The program is designed for extremely 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.
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PROGRAM UPDATE: The World Bank and IFC have merged their respective YPP into one World Bank Group Young Professionals Program (WBG YPP).
The program now recruits on behalf of three institutions (the World Bank, IFC and MIGA). Building on the rich legacy of its predecessor programs, the WBG YPP aims to develop future leaders to collaborate effectively across our institutions on joint WBG solutions to development challenges.
Young Professionals are recruited from around the world, with preference to nationals of WBG member countries and countries of operations. We welcome all qualified individuals from diverse professional, academic, and cultural backgrounds to apply.
Since its start in 1963, the Young Professionals Program has hired over 1,700 people from nearly 120 countries. These people have ranged from new employees to senior leaders in the World Bank Group.
The Young Professionals program was made to find young people who are talented, diverse, experienced, and motivated, and who have shown a commitment to international development through their academic success, professional success, and potential to be leaders.
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The program uses an extremely selective and competitive recruitment process to bring young people into the World Bank Group’s firm and culture and then promotes their rapid integration.
The programs of the World Bank and the International Finance Corporation have been combined into one program called the World Bank Group Young Professionals Program (WBG YPP).
The World Bank Group YPP will recruit and educate future leaders to cooperate successfully across our institutions on collaborative World Bank Group solutions to development challenges, building on the rich tradition of its predecessor programs.
- Level of Study: Fellowship / Training
- Institution(s): The World Bank
- Study in: Countries of operations
- Program Held in: Washington, DC
- Deadline: Applications for the inaugural World Bank Group YPP cohort are open from June 1 – June 30 for all profiles and will reopen from August 17 – September 21 for IFC and MIGA profiles only.
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Young Professionals Program provide the recipient with the following benefits:
- Salary: The WBG YPP offers a competitive salary and benefits package as part of a 5-year term contract. Benefits include health, life and accident insurance, a pension plan and possible relocation and mobility benefits depending on WBG guidelines.
- 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 World Bank Group also provides basic life and accident insurance to all staff at no cost, and staff can elect optional life and accident insurance plans. The World Bank Group 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 World Bank Group sponsors a comprehensive pension plan for eligible staff. Upon separation from the World Bank Group, 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
A comprehensive development curriculum has been designed to ensure that YPs develop a World Bank Group 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 World Bank Group cohort, small groups or individually.
These activities range from on boarding activities, e-learning, cohort discussions with World Bank Group leaders and leadership training, to career development conversations and networking opportunities.
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The Young Professionals Program is expected to make significant contributions toward their unit’s work program while they gain a broad overview of the World Bank Group’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.
The Young Professionals Program 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 World Bank Group 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.
- World Bank Group Mentor: Once they have settled into their jobs, Young Professionals program 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 World Bank Group. 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.
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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 World Bank Group member countries or countries of operations.
- Be born on or after October 1, 1991.
*Graduate degree requirements:
- For World Bank placement: Complete a relevant master’s degree by September 2023 or PhD before September 2024. Fields of study should be related to a World Bank Business Area.
- For IFC & MIGA placement: Complete a relevant graduate degree by September 2024. 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.
**Professional experience requirements:
- 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.
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ADDITIONAL CONSIDERATIONS FOR YOUNG PROFESSIONALS PROGRAM
To be competitive, applicants should additionally:
- 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
The following attributes are a plus:
- Work experience in emerging markets or developing countries
- Full proficiency in one of the following official WBG languages: Arabic, Chinese, French, Portuguese, Russian, and Spanish.
YOUNG PROFESSIONALS PROGRAM BUSINESS AREAS
YPs are placed into several priority areas of the WBG business. To be eligible for the WBG YPP, candidates must demonstrate experience in at least one of the topics listed below. For more information on these business areas, please review the following websites: World Bank, IFC or MIGA.
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How to Apply?
Please follow the following instructions to apply for Young Professionals Program:
1# The following documents are required:
- Academic Credentials.
- 2 Short Essays.
- Short Summary of Thesis or Dissertation (World Bank candidates, only if applicable).
- 3 Professional or Academic Recommendations.
2# Please ensure the following before applying:
- You meet the minimum requirements for eligibility for the Young Professionals Program.
- You have all the information at hand including key dates, an updated Curriculum Vitae (CV), Education Certificates/Transcripts, PhD Dissertation / Master’s Thesis topics (short summary), if applicable, and the Application Essay ready to be uploaded.
3# Short Essay Question
Essay questions will be published on this page, a week before applications open. Please check back in June 2023.
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4# THE INTERVIEW
Young Professionals Program interviews will be conducted in a hybrid format (virtual and in-person) and may include:
- Pre-recorded interview (on Hi revue)
- Live panel interview
- An assessment center, where you will be asked to participate in individual and group exercises
- Timed computer-based financial tests (IFC candidates)
Applicants who are invited to interview will be provided with more detail as the process moves along.
5# Once you submit your application, you will not be able to make any changes or updates.
6# Upon successful submission of your application, you will receive an email confirmation along with a Young Professionals Program ID number.
7# Applicants will be informed of their status as the process moves along.
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