World Bank - anyone here?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y

And a lot of employees pay zero income tax

Yes. My friends who worked there never paid US income tax while working and making $300-400k, they retired at age 60, and then filed for a green card. Their kids also got free tuition at private schools in DC.

These were old benefits that is no longer being offered. No free tuition at private schools, no free flights to country of origin.

WB and IMF staff who are non-US citizens get lower salaries than what they would get in US corporate world and so they don't have to pay US taxes. WB and IMF staff that are US citizen get the same rates that they will get in the US corporate world and they have to pay US taxes.

How many WB staff would be hired in the corporate world? Many of them would never get hired or advance very far there if they lost their Bank jobs. IMF is probably a different story.

My spouse and many colleagues at the WB have gotten offers in the last few weeks from the private sector, from people hoping to be first in line to hire them if they start looking.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y

And a lot of employees pay zero income tax

Yes. My friends who worked there never paid US income tax while working and making $300-400k, they retired at age 60, and then filed for a green card. Their kids also got free tuition at private schools in DC.

Stop spreading lies and misinformation. International staff get paid on the net. US staff are paid on the gross and the latter pay taxes. International staff are not ever eligible for any US benefits such as social etc. Vert few people at the Bank ever make $300k. The Green Card is now almost impossible to get following a State Department decision about 2 years ago. Finally, staff who started working after 2000 (25 years ago) do NOT qualify for the private school benefits at the Bank….

I know bank staff who take overseas assignments when their children are about to start college in the US. In that case (your children attending schools outside of your duty station) I understand the bank still pays for the majority of the tuition. This is for all staff.

If only this were true!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Would anyone even notice if the world bank disappeared? Except for the people who work there?

I wish African ountries had other sources of borrowing money to finance their projects. WB funds come with strings attached.

They can borrow from anyone they want, including China and the private sector.

World Bank conditions are largely about governance etc and aimed at making sure the money is well spent.

I think last year an African country had issues with getting WB funds after they passed an anti LGBT bill. I don't recall the whole story, but if that was true that's problematic. If a country needs WB funds but is also asked to meet some kind of gender priorities that's an issue.

It was the Ugandan Anti-Homosexuality Act, which prescribes the death penalty and life imprisonment for homesexual acts. This wasn't about "meeting gender priorities".

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y

And a lot of employees pay zero income tax

Yes. My friends who worked there never paid US income tax while working and making $300-400k, they retired at age 60, and then filed for a green card. Their kids also got free tuition at private schools in DC.

Stop spreading lies and misinformation. International staff get paid on the net. US staff are paid on the gross and the latter pay taxes. International staff are not ever eligible for any US benefits such as social etc. Vert few people at the Bank ever make $300k. The Green Card is now almost impossible to get following a State Department decision about 2 years ago. Finally, staff who started working after 2000 (25 years ago) do NOT qualify for the private school benefits at the Bank….

I know bank staff who take overseas assignments when their children are about to start college in the US. In that case (your children attending schools outside of your duty station) I understand the bank still pays for the majority of the tuition. This is for all staff.

No, only for staff who joined before the reforms around 2000. Not many of them left, and certainly not with college-aged kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y

And a lot of employees pay zero income tax

Yes. My friends who worked there never paid US income tax while working and making $300-400k, they retired at age 60, and then filed for a green card. Their kids also got free tuition at private schools in DC.

These were old benefits that is no longer being offered. No free tuition at private schools, no free flights to country of origin.

WB and IMF staff who are non-US citizens get lower salaries than what they would get in US corporate world and so they don't have to pay US taxes. WB and IMF staff that are US citizen get the same rates that they will get in the US corporate world and they have to pay US taxes.

How many WB staff would be hired in the corporate world? Many of them would never get hired or advance very far there if they lost their Bank jobs. IMF is probably a different story.

I don't think you realize how ignorant you sound. Tons of PhD economists at the WB that can easily find private sector work making rich people richer.

There are quite many people there who are not PhD economists.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:WB is mostly for providing infrastructure funding and could come on the chopping block. Have worked there before, I see a lot of bloat that US ended up covering. Extensive travel to African and other countries and very generous pay packages is an eye sore for the administration so consider it to receive some resistance.

y

And a lot of employees pay zero income tax

Yes. My friends who worked there never paid US income tax while working and making $300-400k, they retired at age 60, and then filed for a green card. Their kids also got free tuition at private schools in DC.

Stop spreading lies and misinformation. International staff get paid on the net. US staff are paid on the gross and the latter pay taxes. International staff are not ever eligible for any US benefits such as social etc. Vert few people at the Bank ever make $300k. The Green Card is now almost impossible to get following a State Department decision about 2 years ago. Finally, staff who started working after 2000 (25 years ago) do NOT qualify for the private school benefits at the Bank….

I know bank staff who take overseas assignments when their children are about to start college in the US. In that case (your children attending schools outside of your duty station) I understand the bank still pays for the majority of the tuition. This is for all staff.

If only this were true!

It is somewhat true at the IMF. People on overseas assignments, of which there are not many at the IMF as it is much more centralized than the WB, get 75% of the tuition paid up to a ceiling, so for a very expensive private school it might cover significantly less than 75%. Both, US and non-US staff, receive this benefit while serving overseas.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Would anyone even notice if the world bank disappeared? Except for the people who work there?

Yes, this is a massive mistake. Amazing how one administration can diminish US stature in the world so quickly.

I am in the Third World a lot. No one has ever said to me, "Thank you American for the World Bank!"

The fact you call it the third world shows me you don’t work in development…so why would anyone thank you? My team and I do get thanked. It’s a great feeling. I especially like seeing all the schools and health centers, and people working with the skills training we helped them get to be able to support themselves.

[Anonymous]

Anonymous wrote:Frankly, US has become a joke. The country that is powerful now is China. That is the new world power.

China is dominant thanks in part to the neoliberal policies espoused by World Bank staffers and the rampant spying by Chinese nationals with access to troves of WB, IMF, and IFC data. The China miracle looks a lot less miraculous when you strip out all the US FDI.

[Anonymous]

Lots of misinformation on this thread. Some more articulated views. WB salaries/benefits in DC are attractive to individuals from less developed countries (doesn't mean they are not qualified) and singles who want to stay in DC for a few years - one of the big incentives being a move to the US. For others, it is not that attractive and most people really do join for the mission and the work itself. As many say WB jobs pay less than private sector jobs (the scales are public - few are at midpoint, almost no one at maximum, most people are very experienced). Non US citizens who work for the bank do not have access to a number of US benefits (including tax related treatment on non bank income). They also face significant issues getting work permits for their spouses (when most people would agree two incomes are needed to feed a family in the DMV in the absence of substantial family wealth). Postings outside of DC are another story but mobility has ups and downs and some stations are hard for different reasons, and not everyone gets expat

All in all, the WB group manages significant amounts of money, and has a positive mission. It would not be a bad thing that the staff of the WB be relatively well paid and work in good conditions. As a few posters pointed out, their presence brings diversity and gravitas to DC. They should be evaluated on how they fulfill their missions and help the institution achieve its goals. That requires some work like for any organisation. The crab bucket mentality which seems to be at work on various posts will not help to do that.