Graduate Education Programme at NBS

Successful applicants will demonstrate a high level of academic excellence, a strong analytical foundation, and a genuine interest in the field of central banking.

You need to have:

1. A master’s degree (or equivalent postgraduate qualification) in Economics, Finance, or a related field. Applications will also be considered from candidates who are in the final stages of completing their postgraduate degree.
   • Degrees in STEM (Science, Technology, Engineering, and Mathematics) areas, such as Computer Science, Engineering, Mathematics, or Statistics, will also be given full consideration.
   • More in general, we welcome participants with a postgraduate degree that can demonstrate a strong quantitative background.
2. Proficiency in quantitative methods, statistics, econometrics, or mathematical modelling, as evidenced by academic transcripts.
3. An excellent level of English proficiency (both written and spoken) is mandatory, as English is the working language of the programme.

The programme welcomes applications from candidates of all ages.

The application process is conducted entirely online.

Step 1: Prepare all the essential documents
You must prepare the following three essential documents. All files must be uploaded in PDF format.

1. An updated CV, not exceeding two pages in length.
   You may use the provided template, if you wish. CV Template.
2. Academic transcripts/Transcript of records.
   These are official copies of your academic records, including a complete list of courses and grades from all relevant university degrees (undergraduate and postgraduate).
3. A cover letter of not more than 500 words in which you highlight your motivation for joining the Graduate Education Programme at NBS.
   Cover letters above the word limit are not considered.

Step 2: Complete the Online Application
Please complete the official application form and upload all required documents. Applications will open on
1 February 2026.

Step 3: Selection and Assessment
All applications will be thoroughly reviewed by members of the team against the entry requirements. We will review applications as they arrive.

Candidates who successfully meet the criteria will be invited to participate in an Assessment Centre. Detailed information regarding the structure and schedule of the Assessment Centre will be sent to those invited.

If you are selected to proceed to the next stage of the recruitment process, you will be required to provide the original copies of your education certificates for verification.

The Graduate Education Programme (GEP) is a rigorous 12-month initiative, divided into four sequential training blocks. The programme begins every September, progressing participants from foundational knowledge to deep specialisation and real-world policy contribution.

All programme participants receive a gross monthly salary of 1 500 euro.

The academic component of the GEP is delivered by internationally recognised professors and policy experts, ensuring you receive instruction that is both theoretically sound and practically relevant to central banks.

Levelling-up Modules (September)

The programme starts with three short levelling up modules designed to strengthen essential foundational skills.

• Macroeconomics
  Intensive review of advanced macroeconomic relevant to central bank policy analysis.
• Central Banking and Financial Markets
  Comprehensive overview of institutional structures, market operations, and the role of the central bank as the authority in the financial system.
• Data and Quantitative Skills
  Training to ensure proficiency in the statistical, econometric, and computational tools required for modern economic research and policy modelling.

Core modules (October-April)

The programme’s core modules provide deep specialisation in core aspects of central banking.

• Monetary Economics
  Explore the theories and practice of modern monetary policy, transmission mechanism, and the challenges of inflation targeting in the Euro Area.
• Financial Stability and Regulation
  Detailed examination of macroprudential tools, systemic risk assessment, and the regulatory framework governing banks and financial institutions in the EU.
• Central Banking – History, Institutional and Legal Framework
  Gain understanding of the historical evolution, governance, and legal mandate of the central banks within the Eurosystem.
• Data Analysis
  Focus on advanced empirical methods, big data handling, and the application of statistical techniques to real central bank datasets.
• Topics in Central Banking
  A rotating module covering contemporary, frontier issues such as climate change risks, FinTech, digital currency, and emerging crises.

Other modules are also available to allow participants to further specialise their knowledge based on their departmental placements and careers interests. These change each year.  

The GEP is specifically designed to overcome the limitations of existing educational and employment paths. The GEP delivers structured, high-level academic training in addition to offering hands-on working experience in a European Central Bank.  

Academic Training
The programme invests in your academic growth by offering structured modules focused on applied economic policy, finance and central banking topics, delivered by international recognised lecturers.

Embedded Central Bank Experience
Your professional development begins almost immediately with the various departments presenting themselves and their critical work carried out at the NBS and in the Eurosystem. You will be working on real world projects with colleagues at NBS, who will guide your specialised development.

Real-World Assessment
Your academic assessments and final project are uniquely grounded in the central bank’s operational reality. Assessments are based on the real policy issues faced by various groups within the NBS and the Eurosystem. The capstone project allows you to deliver a substantive piece of analysis that addresses a live issue of importance to the Central Bank.

Exposure to Global Banking Realities
The programme organises work-related trips designed to help participants understand different banking and supervisory realities across the region. You gain exposure to the broader European Central Bank, potentially connecting with economists and policy-makers across the Euro Area.