Jobs › Federal Reserve Bank of Chicago

Summer 2027 Intern - Business Majors - ex. Business Administration , Finance

Federal Reserve Bank of Chicago · Chicago, IL · $20.00–$33.00 an hour · Full time

Posted Oct 1, 2026 · We last checked this listing on Oct 6, 2026

Apply at Federal Reserve Bank of Chicago

Likely interview questions for this role

Written from this job description, not a generic list. Each one notes what the interviewer is really checking.

About your past

Why do you want to intern at the Federal Reserve Bank of Chicago?

What they are checking: Whether they understand the Bank's role and are motivated by its public purpose.

Tell me about a business or finance project where you analyzed a problem and made a recommendation.

What they are checking: Whether they can do project-based analytical work and reach a conclusion.

Tell me about a time you worked on a team and a teammate was not pulling their weight.

What they are checking: Whether they handle team problems maturely and keep the work moving.

Tell me about a time you received critical feedback. What did you change?

What they are checking: Whether they are coachable, which matters most in an internship.

How do you build relationships with people across an organization when you are only there for a summer?

What they are checking: Whether they will take advantage of networking with leaders and fellow interns.

What would you do

How would you approach a project to improve a business process you know nothing about?

What they are checking: Whether they can learn by asking questions, mapping steps and finding improvements.

You are asked to present your summer project to Bank leadership. How do you prepare?

What they are checking: Whether they can communicate clearly to senior people and anticipate questions.

About the work

In simple terms, what does the Federal Reserve do and how does a regional Reserve Bank fit in?

What they are checking: Whether they have done basic research on the Fed and the Seventh District.

How do interest rate changes affect businesses and households?

What they are checking: Whether they understand basic economic connections relevant to the Bank's work.

What Excel or data tools are you comfortable with?

What they are checking: Whether they have practical skills to contribute from the first weeks.

Practice this interview out loud.

Offer builds a real interview for this exact role at Federal Reserve Bank of Chicago from your resume and this job description, asks the questions one at a time, and tells you what landed. The first one is free.

Practice this out loud

The full job description

As published by Federal Reserve Bank of Chicago.

Company Federal Reserve Bank of Chicago The Federal Reserve Bank of Chicago is recognized as one of the most influential, trusted and prestigious financial institutions in the world. We serve the Seventh District encompassing Iowa and most of Illinois, Indiana, Michigan, and Wisconsin, and is one of the 12 regional Reserve Banks in the United States. Together with the Board of Governors in Washington, D.C., the 12 Banks constitute the nation’s central bank. INTERNSHIP PROGRAM DETAILS : The Federal Reserve Bank of Chicago Summer Intern Program is a paid internship designed to give undergraduate, graduate, and doctoral students direct exposure to our Bank’s operations. Beginning in early June, interns commit to 40 hours a week for 10-12 consecutive weeks onsite. What makes this internship unique: This internship gives you the opportunity to work for a regulatory bank dedicated to the public good by engaging in project-based assignments and professional development activities aligned with our mission. You will gain insights into the Federal Reserve System while contributing to your assigned department and build relationships with subject matters experts, Bank leadership, and fellow interns. You will work in a collaborative environment that fosters inclusion, reflecting all the communities we serve. REQUIREMENTS: • U.S. Citizen or Permanent Residency • Must be a current, matriculated student in an accredited program graduating December 2027 or later • 2.75 GPA (unofficial transcripts might be asked to submit) • Ability to work 40 hours week throughout the duration of the 10–12-week internship program. PREFERRED SKILLS: • Intermediate working knowledge of Word and Excel • Strong interpersonal and communication skills • Ability to verbally present information and respond to questions from small to medium groups • Ability to interpret data and analytics to develop insights, tell stories, support the decision-making process, and measure impact • Detail-oriented and self-motivated • Ability to interact with internal and external clients professionally in a fast paced, high-energy environment • Ability to be an independent worker with a team player attitude APPLICATION PROCESS : • October - November 2026 – Applications due • November 2026 through February 2027 – Interviews conducted and offers extended • June 7, 2027, or June 14, 2027 – Internship start dates OTHER THINGS TO KNOW: Salary Range: The anticipated hourly compensation range for this internship is $20 to $33, with the specific rate offered determined by the candidate's academic level. ADDITIONAL REQUIREMENTS: • Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future. • This position may require additional screening requirements due to the information accessed while performing the job. These additional screenings would be initiated at the time of offer acceptance. The screening covers areas such as education/employment verification, criminal history, credit history, and reaches out to your references and people that know you well. • As a condition of employment, Federal Reserve Bank of Chicago employees must comply with the Bank’s ethics rules, which generally prohibit employees, their spouses/domestic partners, and minor children from owning securities, such as stock, of banks or savings associations or their affiliates, such as bank holding companies and savings and loan holding companies. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting, who can provide you contact information for our ethics official if necessary. • This document indicates the general nature and level of work performed by employees within this position. It is not a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job. An employee's responsibilities, tasks, and duties might differ from those outlined in the job description, and other duties, as assigned, are a part of the job. The Federal Reserve Bank of Chicago reserves the right to modify the elements of this job description, as business needs require. We are committed to equal employment opportunity regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, marital status, disability, gender, gender identity or expression, or veteran status. Full Time / Part Time Full time Regular / Temporary Temporary Job Exempt (Yes / No) No Job Category Internship Family Group Work Shift First (United States of America) The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences. Always verify and apply to jobs on Federal Reserve System Careers ( https://rb.wd5.myworkdayjobs.com/FRS ) or through verified Federal Reserve Bank social media channels. Privacy Notice

Apply at Federal Reserve Bank of Chicago