Most new PhDs join either the Monetary Analysis or the Financial Stability areas of the Bank. The work of these areas flows directly from the Bank's two core purposes: promoting and maintaining monetary and financial stability.

Economists in both areas are offered a unique opportunity to contribute to real world policy making, both through work that directly supports the policy process and high quality research.

Our PhD economists are challenged to apply their strong economics or finance skills to current policy debates, often working closely with senior managers and policy makers. And our PhD economists play a key role in creating high quality research focused on key policy issues.

Given the tight links between policy and research work, the Monetary Analysis and Financial Stability areas are organised into a number of divisions responsible for both policy and research on particular aspects of the economy or financial system.

So at the Bank of England we do not have a separate research department: instead research is undertaken by smaller teams focused on specific areas.
This structure fosters synergies between policy and research work, generating results of the highest quality. For example, in a recent study of Central Bank research - available here - the Bank of England ranks among the top echelon of Central Banks, particularly when research is weighted by policy relevance.

The Bank also offers PhD internships for people currently studying for a PhD. Please click here for further information.