You can pursue your studies and work-life to be successful in World Bank Countries of Operation. We are pleased to announce that Applications for the World Bank Young Professionals Program are now open. In this article, we’ll explain this scholarship program, its advantages, and the step-by-step application procedure.
World Bank Young Professionals Program 2022-2023 provides a unique opportunity to progress into exciting management and technical posts within the WBG for those who are young and interested in international development and leadership. This program provides pay and healthcare insurance, mobility premiums, pension plan, and tax allowance.
The program is designed to attract highly qualified and enthusiastic individuals who can work in the fields that will be relevant to WBG technical/operations like finance, economics education, government health and social sciences, engineering urban planning and agriculture, as well as natural resources, to name just a few.
The Young Professionals Program has hired over 1,700 people from more than 120 countries since its inception in 1963. The program ranges from young hires to the World Bank Group senior management. The program was established and continues to exist to recruit top, highly knowledgeable, multi-faceted, and driven young professionals who have demonstrated a commitment to international development. They have been supported by academic excellence in their professional and potential for leadership.
The program helps recruit new employees into the organization and culture that is part of the World Bank Group through a very selective and competitive approach and encourages the speedy integration of new professionals.
The World Bank and IFC have joined their respective young Professionals Programs into one World Bank Group Young Professionals Program (WBG YPP).
The program accepts applications from 3 institutions (the World Bank, IFC, and MIGA). In addition to the rich heritage that its previous programs have left, the WBG Youth Program will seek to recruit and train future leaders to cooperate effectively across our institutions in collaborating on WBG solutions to challenges in development.
- Level of Study: Fellowship/Training
- Institution(s): The World Bank
- Learn in countries of Operation
- The deadline Application deadline is between June 15 and July 15 for any profile. Applications are open only from August 16 to September 20 to IFC and MIGA profiles.
Young Professionals Program provides the recipients with the following advantages:
- Salaries: As an entry-level professional within the WBG, young professionals can expect a competitive international base salary determined by their educational background and experience.
- Health life, accident, and Other Insurance Programs: Young Professionals and their families (including the declared domestic partners) can choose from three complete dental benefit plans. The WBG also offers basic insurance for life and accidents for all employees at no cost. Additionally, staff can choose between optional life and accident-related insurance. The WBG provides workers’ and disability compensation insurance to all employees.
- Mobility Premium, The benefit of financial aid, is available for a predetermined time frame to pay for expenses that come with being an expatriate member, dependent on the size of the family and the country of origin. The benefit is not accessible to U.S. citizens and U.S. permanent residents.
- Tax Allowance: U.S. staff receive an additional quarterly payment to cover federal, state, and local tax obligations for their World Bank Group income. Foreign expatriates and U.S. permanent residents do not have to pay U.S. income tax liability and thus are not ineligible for this tax benefit.
- Pension plan WBG Pension Plan: WBG sponsors an extensive pension plan for eligible employees. After separation from the WBG, the employee will receive a lump sum, or pension benefits will be paid according to eligibility.
- Benefits for Transportation and Relocation: These benefits are only for employees who do not reside in the Greater Washington Baltimore metropolitan region at the appointment date. The World Bank will bear the expense of one-way transportation for employees and their immediate family members from the employee’s residence. One-time grants are included in the initial paycheck to cover moving costs.
- Help with Financial Needs: The World Bank Group provides various financial assistance programs, including a two-year, settlement-in loan that is interest-free for those moving after a pre-arranged appointment.
Young Professionals Program Features
A complete development program is developed to help YPs acquire the WBG mindset, develop the necessary foundational knowledge for understanding and contributing to the WBG, and to develop the skills required for entry-level positions such as leadership, collaboration integration, integrative thinking, and innovations while fostering an environment of continual learning.
The curriculum consists of a mix of learning activities that can be done in the WBG group, in small groups, or with individuals. The lessons include onboarding exercises, e-learning, discussion groups with WBG leaders, leadership training and career development discussions, and networking activities.
Young Professionals will be expected to contribute significantly to their unit’s work plan while gaining an overview of the policies of WBG as well as work. During their two-year plan and by their requirements for business along with Young Professionals’ needs, they will take on a rotational business-driven “stretch/exposure” assignment where they will get valuable experience on the job.
Young Professionals working in Operation are more likely to accompany colleagues on field trips for business, also called ‘missions, for countries in the developing world. These trips enable young Professionals to witness firsthand the difficulties in globalization, learn the fundamental features of WBG’s work and get to know WBG’s clients.
Coaching and Mentoring
the YP buddy: When enrolled in the program, young Professionals receive a friend from their previous group according to their professional interests and backgrounds in the field. YP friends help new members get settled into the new environment and organization and be aware of the expectations and obstacles associated with the program.
Technical Buddy: In recruiting units, a seasoned colleague is assigned the “go-to person” to answer technical questions within their areas.
WBG Mentor After establishing themselves in their positions, Young Professionals may be placed with a senior technical associate who will coach them on subjects such as career opportunities and “stretch/exposure” assignment opportunities and assist them in gaining an understanding of the company’s culture.
The Youth Program Team: The Youth Program Team is dedicated to recruiting and assisting in integrating Young Professionals into the World Business Group. The team is responsible for coordinating activities to help YPs with their needs, including coaching and guidance, and assists create career strategies, among other activities. Youth Program Team Youth Program Team is a one-stop resource for young professionals seeking help and direction.
Eligibility Criteria for World Bank Young Professionals Program
These are the minimum requirements required to be considered eligible to be considered for this program. Young Professionals Program.
- Required Languages: English
- Eligible Countries The Bank’s Group policy for recruitment is to employ personnel of the highest quality with as broad an area as is possible as possible and in preference to those of WBG member countries or other countries that operate.
- You were born on or on the day after September 1st, 1990.
- Graduate degree requirements:
- – To be eligible for World Bank placement: Complete the relevant master’s degree by the 15th of July, 2022, or a Ph.D. by September 2023. The fields of study must be appropriate to the World Bank Business Area.
- – To be eligible for IFC & MIGA placement: Complete an appropriate graduate degree by September 11, 2023. The study fields should be connected to the IFC and MIGA Business Area, including but not limited to the Master’s of Business Administration (or equivalent) in Economics, Finance, International Relations, Science, and Engineering.
- You can specialize in a subject pertinent to the Business Areas of YPP.
- Provide relevant work experience or continue to studies at the doctoral level.
- For World Bank placement: Demonstrate three years or more in relevant work experience or equivalent experience in continuing studies at the doctoral degree level.
- – for IFC & MIGA placement: Demonstrate the use of more months in relevant knowledge in finance, including political risk insurance, credit enhancement, program development or economic development, and consulting. The CFA or other certifications such as CFA are an advantage.
- Fluency in English
- Complete proficiency in one or at least one of the WBG’s official languages (including Arabic, Chinese, French, Portuguese, Russian, and Spanish — is desirable but is not essential.
- Engage in and show passion for international development
- Have exceptional academic qualifications
- Engage clients with a high degree of enthusiasm and leadership capabilities
- Prove that you are knowledgeable of the current trends in the sector.
- Show a passion and commitment to international development
- Show outstanding client engagement and team leadership abilities.
- Have impressive academic qualifications
- Do you have experience in developing countries around the world?
How to Apply for the Young Professionals Program?
Follow the steps below to apply to the Young Professionals Program:
(1) Following documents are required:
- Academic Credentials*
- 2 Short Essays
- A Short Summary of the Thesis or dissertation (World Bank candidates only if they are eligible)
- 3 Professional or Academic Recommendations
(2) Before You Apply, ensure that:
- You have met the minimum requirements to be eligible to be considered for you to qualify for Young Professionals Program and,
- You have all the information, including critical dates, an updated Curriculum Vitae (CV), Education Certificates/Transcripts, and Ph.D. Dissertation/Master’s Thesis topics (summary), if applicable, and the Application Essay ready to be uploaded.
(3) Once you’ve submitted your application, you won’t be able to make any updates or changes.
(4) Upon successfully submitting your application, you will get an email confirmation of the YPP ID.
(5) Applicants will be updated on their actions when the process progresses.
For more information about the Young Professionals Program, please go to the official website: