HM Treasury
Assistant Economist – Global Economics
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This post can be based in London (1 Horse Guards Road), or Darlington (Feethams House).
Job Summary
Working at HM Treasury puts you at the heart of government, making a difference to the UK economy and ultimately to people’s lives right across the UK.
Jobs at the Treasury are fast-paced, fun and can offer unparalleled perspective – not least the opportunity to advise Ministers on the decisions which directly determine the UK’s prosperity. Deep in our DNA is a commitment to empowering our people: maximising individual and collective impact, with interesting work no matter your role or seniority.
Day-to-day you could be supporting Ministers to decide the right level of a specific tax or line of government spending; helping maintain the stability of financial markets; analysing the long-term trends impacting the future of the economy; or enabling this work as part of our vital corporate functions.
We are a high-performing department and proud to have outstanding staff from a wide range of backgrounds. We are also a friendly, inclusive and sociable workplace that prides itself on fostering great team spirit. Our two largest offices are 1 Horse Guards Road in London, opposite St James’ Park, and the Darlington Economic Campus, which also contains eight other departments. We work seamlessly across all our sites, including Norwich, Birmingham and Leeds, as one Treasury.
We are both a 1,000-year-old institution and dynamic, forward-looking economics and finance ministry, with a strong direction set by our organisational strategy, the Future Treasury Vision. The 21st century offers huge opportunities and poses new challenges for the UK. Working at the Treasury is your chance to help the country chart the right course.
Job Description
About the Job
This role sits at the centre of HM Treasury’s work on the global economy, with a particular focus on international comparisons and analysis of structural trends such as the emergence of artificial intelligence. You will play a leading role in assessing the UK’s economic performance relative to peers and drawing out insights for labour market, growth and fiscal policy, while shaping HMT’s overall understanding of the global economic outlook.
This is an exciting and fast-paced role that offers the opportunity to work at the intersection of global macroeconomics and domestic policy, areas with high ministerial and senior official interest. You will work with a wide range of policy and analytical teams in HM Treasury, and with the Foreign Commonwealth and Development Office and their overseas network to deliver high-quality analysis and advice that informs the UK’s approach.
Key Accountabilities For This Role Include:
- Leading international labour market analysis, working closely with domestic leads to provide international analysis that supports domestic policy development by providing the international context and best practice on high-priority issues such as youth employment, economic inactivity, and demographics.
- Leading analysis on AI, and its emerging impacts on the global economy, considering policy lessons from peer countries and how it could reshape the global economy. Shaping the direction of HMT’s domestic policy approach and its priorities through its upcoming G20 presidency by working closely with AI policy teams across the department, including the new AI Economics Institute.
- Support the wider international comparisons workstream, supporting domestic policy development by incorporating international best practice and innovative approaches. Provide headline stats and comparisons to inform HMT’s internal growth strategy and public narrative (including fiscal event products and Chancellor speeches).
- Providing high-quality analysis of the global economy, and delivering timely, high-quality analytical pieces to improve HMT’s understanding of structural trends affecting the global economy and inform policy development.
- Developing and maintaining strong international and cross-government partnerships, working closely with UK embassies overseas and Whitehall partners to gather economic intelligence, coordinate on global economic risks, and deliver joint analysis on the major issues of the day.
- Supporting the development and application of data science tools across the International Economics Group, and using innovative analysis to strengthen HMT’s understanding of global economic developments and risks.
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The Global Economics team operates with flexibility. We expect all members to take the lead on wider ad hoc requests. These may include inward and outward ministerial/senior visits, correspondence and FOIs. All team members are also expected to contribute to GE and IG corporate life, including a corporate responsibility at the team and/or group level.
Candidate Drop-In Session
The hiring manager will be running a candidate drop-in session to give you greater insight about the role and HM Treasury, and ask any questions you might have. If you would like to join us, use the link below to join the call at the right time.
Wednesday 23 September - 12:30 to 13:30 - Join the meeting here
If you would like to speak to the hiring manager informally prior to the closing date, please contact james.tobin@hmtreasury.gov.uk.
Visa sponsorship is not available for this role.
Person specification
Application Stage
Required Qualifications
- Undergraduate or master’s degree in economics (for joint degrees at least 50% of the credit value of the course modules should be in economics)
In your application form, you’ll be asked to confirm that you hold this qualification. You will need to provide evidence of this qualification if you are invited to interview.
Application Form
Applications should consist of a CV including your employment history, and a 250-word statement demonstrating evidence of each of the below shortlisting criteria. Your CV and employment history won’t be scored. It’s used to give context to your application and support discussions at interview.
The panel will review applications and invite those that best demonstrate evidence of the shortlisting criteria below for interview. Please keep this in mind when writing your application.
Please note that only applications submitted through Civil Service Jobs will be accepted.
Essential Criteria:
- Technical – Knowledge of macroeconomics and economic analysis. Understanding of economic modelling is desirable but non-essential.
- Communicating and Influencing – Using verbal and written communication tools to succinctly explain complex concepts to a non-expert audience.
- Seeing the Big Picture – Identifying developments and risks that can have an impact on your work and developing a plan for how to proceed.
- Delivering at Pace – Ability to deliver timely quality analysis to evolving deadlines with effective prioritisation of competing tasks.
The lead criterion is: Technical: Knowledge of macroeconomics and economic analysis. Understanding of economic modelling is desirable but non-essential.
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If we receive a high volume of applications, we’ll first sift using the lead criterion only. Those meeting the minimum score will then be assessed against all remaining criteria.
Interview Stage
If You Are Successful At The Application Stage, You Will Be Invited To Interview Where You Will Be Assessed Against The Following Criteria:
- Technical Skills: Economic Analysis
- Strengths
- Behaviours: Communicating and Influencing, Delivering at Pace, Seeing the Big Picture, Making Effective Decisions
Qualifications
- Undergraduate or master’s degree in economics (for joint degrees at least 50% of the credit value of the course modules should be in economics)
Behaviours
We'll assess you against these behaviours during the selection process:
- Communicating and Influencing
- Seeing the Big Picture
- Delivering at Pace
- Making Effective Decisions
Technical skills
We'll assess you against these technical skills during the selection process:
- Technical: Knowledge of macroeconomics and economic analysis. Understanding of economic modelling is desirable but non-essential.
Benefits
Alongside your salary of £36,130, HM Treasury contributes £10,466 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides (opens in a new window).
- Generous Annual Leave - 25 days (rising to 30 after 5 years), plus public holidays and the King’s birthday.
- Outstanding Pension Scheme - Defined Benefit pension with employer contributions of 28.97%
- Parental Leave Packages - Including 6 months’ occupational pay for maternity/adoption, shared parental leave options.
- Flexible & Hybrid Working - Options include part-time, job-share, compressed hours, flexitime, and hybrid working (where business needs allow).
- Advance Schemes & Discounts - Rental deposit, cycle-to-work, SmartTech, season ticket loans, and access to HM Treasury’s benefits portal for a wide range of discount codes.
You can review HM Treasury’s full offer here.
Artificial intelligence
Artificial intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance (opens in a new window) for more information on appropriate and inappropriate use.
Selection process details
This vacancy is using Success Profiles (opens in a new window), and will assess your Behaviours, Strengths, Experience and Technical skills.
The reference to Experience above is system generated. For this role, experience is not assessed at any stage. We will ask for some CV details in your application form, but this is for reference only and will not be scored.
Candidate Guidance
Please review the candidate guidance for an overview of the Success Profiles and STAR approach, along with top tips for applications and interviews.
Recruitment Timeline
Closing date: 4 October
Shortlisting: w/c 5 October
Interviews: w/c 26 October
This timeline is indicative and may be subject to change
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