European Stability Mechanism (ESM)

ESM HQ Luxembourg

Deadline for application: 11 October 2022

We are looking for recent graduates of or candidates studying towards a masters’ degree, PhD, or postdoctoral programme to assist our Policy Strategy and Institutional Relations division of the European Stability Mechanism (ESM). The aim of the traineeship is to provide promising young professionals with an opportunity to understand how the ESM works, while contributing to its mission and pursuing their research interests.

The ESM is the permanent crisis resolution mechanism for the countries of the euro area. During the euro crisis, it launched six financial assistance programmes for five countries, providing financial support, monitoring repayment capacity, and engaging with partner institutions on programme design in areas of financial interest. As a policy institution, the ESM is also one of the big issuers of euro-denominated debt with a large global investor base. European leaders have agreed to an expanded mandate for the ESM. Once the amended ESM Treaty is fully ratified, the ESM will act as the backstop to the Single Resolution Fund and have a stronger role in financial stability risk analysis and the design of policy measures in programmes jointly with the European Commission. In the context of the recent Covid-19 crisis, the ESM has established a precautionary credit line as one important element in the joint European response to the pandemic.

The ESM is a unique place to work with around 210 individuals committed to making a difference to the future of the euro area. It recruits talented professionals of any nationality from both the private and public sector.


  • Support the team in preparing policy notes and briefings in relation to ESM’s mandate and instruments and for collaboration with other Regional Financial Arrangements.
  • Deal with topics related to the deepening of the Economic Monetary Union, as needed.
  • Provide research assistance, and/or carry out an agreed research project in line with the division’s objectives.


  • Candidate (or recent graduate within one year since graduation) for a master’s degree in economics or finance, a PhD student within a year or two of completing a PhD and active student status, or a postdoctoral candidate who recently completed their PhD
  • A first experience in international relations would be an asset
  • Excellent oral and written English skills, additional languages are an asset


  • Strong analytical skills
  • Communication and interpersonal skills
  • Intellectual curiosity and eagerness to learn
  • Proactive attitude and self-organised
  • Teamwork and collaboration


  • Deadline for application: 11 October 2022
  • Expected start date: December 2022 or January 2023
  • Duration: at least six months
  • Competitive allowance granted

The ESM aims to provide equal opportunity to all candidates irrespective of their gender, nationality, age, race, culture, education, religious beliefs, sexual orientation, or disability. To further enhance the diversity of our workforce, we particularly encourage women to apply.

Tags: covid, financial assistance, financial stability, international relations, public sector, risk analysis, young professionals