On September 27, the Bretton Woods Committee held an informal panel discussion at American University to introduce career opportunities at the International Financial Institutions (IFIs). The event attracted more than 100 students and recent graduates from the DC area interested in learning more about the professional experiences of Committee members and friends. As the network of prominent global citizens working to foster strong, effective Bretton Woods institutions, the Committee hoped to inspire future generations of public and private sector leaders to understand the opportunities available within the IFIs.

The Committee proudly welcomed four guest speakers: Bretton Woods Committee members Thelma Diaz, Former Resident Director General, Asian Development Bank; and Jean-Louis Sarbib, Executive Director, Development Gateway, and Former Senior Vice President, Human Development Network, World Bank, as well as John Starrels, former Senior Staff, International Monetary Fund (IMF), and John Waterston, Human Resources Consultant, World Bank. Committee member Arturo Porzecanski, Distinguished Economist in Residence and Director of the International Economic Relations Program at the School of International Service, American University, moderated the event.

To begin, Ms. Diaz provided an overview of her career and lessons learned during her time at the World Bank and the Asian Development Bank (ADB), explaining that each institution has a distinctive culture which participants should explore in order to understand which institution may be right for them. She recommended the Young Professionals Programs and internships as a way to gain exposure, experience, and networking opportunities. She stressed that the ADB takes a key interest in applicants who have considerable professional experience - noting, "[at ADB] experience trumps education." Furthermore, she strongly suggested taking a look into all of the IFI institutions, particularly the multilateral development banks with offices outside of Washington DC.

Next, Jean-Louis Sarbib described how the IFIs are constantly evolving and charted the changes over his 26 years at the World Bank. He encouraged those who believe that "a world unequal cannot be a world at peace" to consider a career at the IFIs and talked about his own conversion from Bank-skeptic to proud staff member. When asked what skills applicants should have to succeed, Mr. Sarbib recommended students be literate in economics and finance -- no matter for what position they are applying -- as well as have the ability to work well both independently and in teams.

John Starrels, who previously directed the IMF's academic and Capitol Hill outreach programs, discussed the impact that personal connections can have on applications to the IFIs. He encouraged all participants to build relationships with IFI staff as a way to best understand what opportunities are available. Discussing how an earlier career on Capitol Hill led to his employment at the IMF, he reminded participants about the many paths to success at the IFIs and encouraged them to seek work experiences outside of the institutions before applying. He discussed the value of a PHD at the IMF, especially in Macroeconomics, but echoed earlier remarks about the importance of work experience.

Finally, John Waterston provided insight into the structure of the World Bank and the entry points one can take: internships, the Junior Professional Associates for those 28 years of age or younger, the highly competitive Young Professionals Program, and professional and technical contract appointments of less than five years. He noted that the World Bank has grown tremendously over the years and now has 10,000 staff representing 170 countries, with 40% from developing countries. Although entry to the World Bank is highly competitive, Waterston encouraged young adults to apply through the programs mentioned above.

In closing, Arturo Porzecanski reminded participants about the wide range of organizations considered international financial institutions, including the Caribbean Development Bank, the International Islamic Bank, and many others. He recommended exploring all of the IFIs, finding out where they are expanding, and upon what issues they are focused, as a way to maximize one's competitiveness in the application pool.

The Bretton Woods Committee thanks The American University's School of International Service for co-hosting this event and contributing in its great success.