Majority of central banks prefer economists with master’s degree

Economists are sponsored more for training than for PhDs

The majority of central banks employ more master’s degree-holding economists than applicants with undergraduate qualifications or doctorates (PhDs), according to the Economics Benchmarks 2022.

Central banks were asked what proportion of their economics staff were hired with bachelor’s, or undergraduate, master’s and PhD qualifications. The response returned an average of 36% for bachelor’s degree holders, 47% for master’s qualifications and 19% for PhDs.

The range for each qualification was 0%

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