What it does: The World Economic Forum (WEF) is a non-governmental organization that is often referred to as a lobbying group, though in its own words referred to itself as “the international organization for public-private cooperation.”
Mission: Improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas.
Best known for: It's an annual meeting in Switzerland, attended by government heads and CEOs alike.
Size & presence: 800 people working across six global locations.
The good bits: The World Economic Forum is one of the most influential events in the world, and if you work here, you get to network with the movers and shakers of the world.
The not-so-good bits: Multiple complaints about low salary from previous and current employees, in comparison to the required qualifications for most roles, and lack of clear career progression within the organization, partly due to its flat management style.
The World Economic Forum had its beginnings in 1971 under the name the European Management Forum. It was founded by a business professor at the University of Geneva, Klaus Schwab. By 1987, the organization became known by its current name as its goals changed: focusing more on international business cooperation instead of just European-based ones.
As time goes by, major world events such as the collapse of the Bretton Woods fixed-exchange-rate mechanism and the Yom Kippur War led to the forum expanding its mission of cooperation to more than just brokering new business deals, but also fostering an environment where partnerships and dialogue could occur between nations.
The World Economic Forum prides itself on being a community of people who work across borders to create an impact across various sectors through various partnership initiatives.
In their own words, the World Economic Forum has this to say about its culture: “We foster a collaborative, entrepreneurial, dynamic and purpose-driven work culture. What our colleagues value most are the people and the friendships they form with energetic, open-minded, intellectually-curious colleagues.”
Most of the job opportunities available currently in the World Economic Forum are intended for experienced professionals, although the organization does have some internship openings available at their offices during certain parts of the year.
Their internship openings are part of what they call their ‘Early Careers Program’. However, despite the title, Master’s level applicants are preferred over Bachelor’s, and those with prior professional experiences are prioritized. The program lasts for six months, and interns get hands-on opportunities to be involved with the organization’s programs, including the World Economic Forum itself.
To apply for a position in the World Economic Forum, you’ll just need to send an application through their career page. A recruiter will get back to you within ten working days, and you may undergo a phone interview when they reach out to you.
After that, as with many positions elsewhere, you’ll undergo several rounds of interviews, including with your future direct superior.
An intern who works at the New York City office can expect to make a gross pay of around $4,000 per month or $48,000 per year. As for full-time positions, pay may differ according to roles. As an example, a Senior Associate makes between $90,000 to $100,000 per year, while a Senior Community Associate makes between $50,000 to $60,000 per year.
Aside from base pay, the World Economic Forum also offers the following benefits for its employees: health insurance, retirement contributions, five weeks of PTO, and on-site, free fitness facilities.
The World Economic Forum does not engage in direct social contributions, although it has driven changes through its business and public partners. Despite that, the World Economic Forum does engage in several sustainability initiatives such as using renewable energy for its offices and reducing plastic usage.
The World Economic Forum is no stranger to controversy, due to the nature of its operations. It has been accused throughout its years of establishment of being a forum where the world’s elites can make major decisions that would impact the world without involving most of the population that lives within it.
As for specific controversies, in 2019-2020, criticisms were launched by several parties in the Switzerland government regarding the cost borne by its nation to manage the security for the event (costing tens of millions of Swiss francs), despite the perceived lack of direct benefits.