Staff categories and benefits
IFIsInternational Financial Institutions make the following distinction:
Locally recruited staff is employed under the legal terms of the country of employment (usually nationals or prior residents of the country of employment).
Staff is employed under the IFIInternational Financial Institution ’s international terms and conditions, based in headquarters or field offices, irrespective of their nationality or prior place of residence.
In contrast to local staff, international employees are usually required to have experience abroad and be geographically mobile.
Salaries and benefits
As IFIs hire specialists from both public and private sectors, they offer competitive (usually tax-exempt) salaries with attractive benefits, such as:
- medical insurance for staff and dependents
- life and disability insurance
- annual leave
- attractive pension scheme
International staff working in a country of which they are not a national receive additional compensation and support, such as:
- full relocation and installation allowance
- housing assistance
- children’s education grants
Career advancement modalities are generally flatter in IFIs than in the private sector and employment after the end of a contract is not guaranteed. Nevertheless, IFIs are quite job-secure and staff turnover is very low.
When working for an IFI, you should become familiar with the institution’s organisational staff management framework, which defines transparent guidelines and regulations regarding promotion and career development.
To advance within an institution, you are encouraged to define a direction, create a personal development plan, and consult with managers on performance and aspirations. Given the broad range of thematic areas and functions, sectoral and geographical mobility is valued and offers many options.
Do you need help with your application documents or assessing your potential? Take a look at our various support services!
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