Assistant Economist Job at HM Treasury – in London

Job Description

Reference number



£29,320 – £38,000

London: £32,320 – £38,000 / National: £29,320 – £35,000. If the successful candidate is a current Civil Servant joining on level transfer, HM Treasury will honour their current substantive salary if higher.


Higher Executive Officer

Senior Executive Officer

This is a Range D post. Successful HEO and SEO applicants will be transferred across on level basis

Contract type




Length of employment

18 months

Business area

HMT – Economics

Type of role



Working pattern

Flexible working, Full-time, Part-time

Number of posts



The post can be based in London (1 Horse Guards Road) or Darlington (our interim office is Bishopsgate House until the temporary office in central Darlington is established in 2022). All staff follow government guidance about working from home during the pandemic. Once Covid-19 restrictions ease, most Treasury employees will be working a hybrid pattern, spending 2-3 days a week (pro rata) in an office, on average.

About the job


The Treasury is the United Kingdom’s economics and finance ministry. It is responsible for formulating and implementing the government’s financial and economic policy. Its aim is to raise the rate of sustainable growth, and achieve rising prosperity and a better quality of life with economic and employment opportunities for all.

Job description


Economics Group

The Economics group is responsible for providing economic surveillance, delivering the evidence base to underpin macroeconomic and microeconomic policy and promoting professionalism for economics and social research in government.


The Structural Economic Analysis (SEA) team focuses on improving HM Treasury’s understanding of the major structural changes affecting the UK economy and assessing the outlook for the supply-side of the economy. The team does this through analysis, and ensuring this analysis plays a key role in informing and influencing policy decisions. The team provides bespoke macroeconomic analysis of issues including COVID-19, the transition to a net zero carbon economy, and other key structural changes (such as technological change) and how these forces interact.

The team applies technical modelling, data monitoring and macroeconomic expertise to deliver on these objectives. We maintain and develop modelling (including macroeconomic models, CGE models, and other customised frameworks) and data monitoring capabilities. We apply these capabilities on a flexible basis, according to the balance of priorities on key economic issues. This means team members will typically work on a range of issues and analyses over their time in post, giving a good degree of variety but also providing excellent opportunities to demonstrate analytical versatility and creativity, and to develop as an analyst and macroeconomist.

We are a friendly, inclusive team of economists where flexible working patterns are supported and a diversity of backgrounds and approaches are welcomed and encouraged. Professional development is taken seriously, to support staff development and analytical creativity, including through an expectation that team members actively set aside time for professional development.


We are recruiting for two Assistant Economists with both roles in the Structural Analysis branch of the team. You can indicate at interview stage if you have a preference for one role or are equally interested in both roles.

Both roles will suit motivated and flexible individuals looking to apply economic knowledge, evidence and analysis to different macroeconomic topics, with the aim to inform and shape the policy debate on the biggest issues facing our economy. Candidates should have strong analytical capabilities, a good understanding of macroeconomics, excellent collaboration skills and an ability to work at pace.

We encourage applications from candidates who may have less experience in some of the required criteria – but are willing and able to develop their understanding. We recognise that gaps can be developed on-the-job and training can be made available.

We are an equal opportunity employer and value diversity. We do not discriminate on the basis of race, religion, colour, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process and to perform essential job functions.

The post holders will be at the centre of developing new analysis to understand the macroeconomic impact of key issues affecting the economy, with a focus on the medium to long-term. They will conduct detailed economic analysis and work with other teams across HMT. Key accountabilities for these posts are expected to cover the following (though responsibilities for each post will depend to an extent on the precise skillsets of the appointee and will evolve over time with scope for the post-holder to be involved in the shaping of their role):

Role 1) Assistant Economist, Supply Side Analysis

1. Lead on specific pieces of analysis on the channels through which the economic impacts from the COVID-19 pandemic may have medium to long-run economic consequences (e.g. economic scarring).

2. Collaborate closely with analysts on key scarring channels and key signals from the latest data to reconcile views and contribute to HMT’s overall understanding of economic scarring from COVID-19 and the supply outlook.

3. Engage with the external debate and literature on scarring and supply, and their channels, bringing together a picture of external views to inform the internal assessment.

4. Work across a wide array of interested internal and external teams so that analytical work is complementary to the wider analytical work plan, communicating with policy teams to shape HMG policy so that policy recommendations are led by evidence.

5. Communicating analysis on supply, scarring and the longer-term impacts of COVID-19 to ministers and senior officials, feeding into briefings and other products ensuring that analysis is captured in wider discussions about the economy.

Role 2) Assistant Economist, Structural Change Analysis

1. Lead specific pieces of analysis on the potential changes to the structure of the economy resulting from COVID-19 and the associated policy responses, assessing the key challenges and opportunities that arise from such changes.

2. Develop and utilise innovative data and advanced tools to analyse and monitor the changing structure of the UK economy. Basic coding skills would be desirable to handle certain datasets but not crucial.

3. Engage with analysts across HM Treasury and externally to bring together analyses on structural change, ensuring that key messages and views across the Department are reconciled.

4. Collaborate closely with policy leads to ensure that policies are developed taking into account robust evidence and that analytical plans can respond flexibly to emerging policy development.

5. Communicate analysis on structural change to senior officials and Ministers.

6. Support HM Treasury’s overall assessment of structural change in the economy, bringing together the assessments from various individual channels.

In addition to this, the post holders will also have opportunities over time to work on wider analysis conducted within the team including supporting the assessment of the outlook for the supply-side of the economy or developing HMT’s policy toolkit for managing structural change and feeding this thinking into wider HMT policy development. They will also be able to lead on corporate initiatives in the team, Group and the wider department.



Candidates – Please note, you will be asked to give evidence in your application of how you meet these criteria.

Required Qualifications:
1. Degree-level economics.

Required Behaviours, Experience and Technical Skills:
1. Making effective decisions: Please demonstrate your ability to analyse data using economic tools and techniques and apply this knowledge effectively to advise seniors and influence future decision making.

2. Working together: Please demonstrate your ability to proactively build, maintain, and influence stakeholder networks and work collaboratively with others to deliver results.

3. Delivering at Pace: Please demonstrate your ability to structure, plan, and prioritise a busy workload to deliver consistently high-quality work to a deadline.

4. Experience: Please demonstrate your ability to demonstrate knowledge of the macroeconomy or to independently tackle new challenges and work flexibly. Please list any relevant experience in either of these areas.

The lead criterion is making effective decisions. If we receive a large number of applications, applications will be assessed against this criterion alone first. They will then be assessed against the other criteria if they have met the minimum score on the lead criterion.

Recruitment Timeline

Closing Date: 15th of August

Sift: w/c 16th of August

Interviews: w/c 30th of August


Degree-level economics


We’ll assess you against these behaviours during the selection process:

Making Effective Decisions

Working Together

Delivering at Pace

Communicating and Influencing

Seeing the Big Picture

We only ask for evidence of these behaviours on your application form:

Making Effective Decisions

Working Together

Delivering at Pace

Technical skills

We’ll assess you against these technical skills during the selection process:

The interview panel will ask candidates to present on one technical economic question related to the role, which will be communicated beforehand.


HM Treasury views flexible working as essential in enabling us to recruit and retain talented people, ensuring that they are able to enjoy a long-lasting career with us. All employees have the right to apply for flexible working and there are a range of options available including; working from home, compressed hours and job sharing. Additionally, we operate flexitime systems, allowing employees to take up to an additional 2 days off each month, providing you work enough hours to meet business need.

We also offer a generous maternity/ paternity and adoption leave package.

At HM Treasury we have an incredibly broad remit; our work touches every citizen of the country. So, it’s important our employees come from the widest possible range of backgrounds, bringing us the widest possible range of perspectives and ways of thinking. We are committed to ensuring that all staff are able to realise their potential and achieve a healthy work-life balance.


  • 25 days’ annual leave (rising to 30 after 5 years), plus 8 public holidays and the Queen’s birthday (unless you have a legacy arrangement as an existing Civil Servant)
  • Flexible working patterns (part-time, job-share, condensed hours)
  • Access to a generous Defined Benefit pension scheme with employer contributions.
  • Onsite restaurant and coffee bar. The London office also offers a gym, showers and prayer room
  • Access to a cycle-to-work salary sacrifice scheme, season ticket advances and payroll giving
  • Access to a retail discounts and cashback site
  • A Rental Deposit Advance Scheme to help meet the total costs of deposits for privately rented homes
  • A range of active staff networks, based around interests (e.g. analysts, music society, sports and social club) and diversity (e.g. women in the Treasury, ethnic minority network, LGBT* network, faith and belief network)

About Company

Company: HM Treasury –

Company Location:  London

Job Category: Engineering Jobs, Mechnical Jobs, Electrical Jobs

About HM Treasury -