Presented by Living Goods
‘Tis the season for … job searches. After all, as people head into the new year, many are looking for a fresh start career-wise. We have the definitive guide to get you going.
Also in today’s edition: The U.S. Development Finance Corporation marks a major milestone while facing an uncertain future. And one philanthropist can’t seem to spend her billions fast enough.
+ Are you an SDGoal-Getter? Take our year-end quiz and see how well you know the biggest globaldev stories of 2024. Plus, get a chance to win a one-year Devex Pro membership.
You’re hired!
It may sound trite but it’s the truth: People in development want to help make the world a better place. But sometimes the helpers could use some help breaking into the field or moving up in the sector.
That’s what the Devex Career team does throughout the year. Now, they've put together the ultimate guide to the top development sectors, comprised of 10 comprehensive snapshots to help you find your fit in a labyrinth of job possibilities. All of it is driven by data analysis from Devex’s renowned job board and extensive archive of career advice and exclusive reporting.
This is a preview of Newswire
Sign up to this newsletter for an inside look at the biggest stories in global development, in your inbox daily.
December actually offers an edge for professionals on the hunt for new opportunities. Fewer job seekers apply during this time, meaning less competition. Employers, eager to fill certain roles before the year ends, may extend offers now for January start dates.
But first, do your homework with our guide that's more than 50 pages, which features:
• The top 10 development sectors based on extensive job board data.
• A sector-by-sector breakdown of the top organizations, roles, and regions.
• Advice from leading recruiters on how to stand out as a candidate.
• Key sector trends to follow to strengthen your job candidate profile.
• Candid views from professionals on sector-specific challenges and rewards.
• Exclusive insights on salaries, remote working trends, and much more.
For example, under the democracy, human rights, and governance category, you’ll find information on the latest trends, including the dangers of working in increasingly authoritarian regimes; acronyms to know; the number of jobs listed with us; location of those jobs; popular roles; salary insights; and personal perspectives from people in the field.
And you’ll get a few words of wisdom. As Mary Aileen Diez-Bacalso, the executive director of FORUM-ASIA, puts it: “I don't have any regrets that I chose the path to human rights advocacy. ... At the end of your life, you will just assess what you have done, not just for yourself, but for humanity.”
Download your copy: Your ultimate guide to development’s top sectors (Career)
+ December is also the perfect time to lay the groundwork for your career goals. Refresh your CV, update your Devex profile, and map out a job search strategy while others are still in holiday mode. Not a Devex Career Account member yet? If you sign up today for a membership, you’ll get an exclusive discount. Sign up now.
DFC you next year
The U.S. International Development Finance Corporation celebrates its fifth anniversary this month, and on the whole, it’s been a pretty good five years for the young but growing agency. And the fact that it was born with bipartisan support during the first Trump administration has spurred hopes that it will fare well under a second.
Part of the impetus behind DFC is to give China a run for its money in lower-income countries. Granted, DFC can’t compete with the billions that Beijing has lent to those countries via its opaque thicket of state-owned companies, particularly in Africa, but the U.S. figures are more than respectable, as my colleague Adva Saldinger details in her extensive report.
DFC committed nearly $50 billion in its first five years, including more than $12 billion last year alone. Other successes are:
• The agency nearly tripled its staff to more than 700 employees.
• It more than doubled its annual transactions, reaching 181 in fiscal year 2024, with about 70% in low-income or lower-middle-income countries.
• Those projects supported about 1.7 million smallholder farmers, provided health care services to 44.8 million people, and supported almost 6.1 million micro-, small-, and medium-sized enterprises, according to DFC estimates.
However, it hasn’t been all sunshine and roses. The rollout of a major restructuring faced employee backlash. Transparency, speed, and risk appetite are all areas ripe for improvement.
“Issuing taxpayer dollar financing does come with a lot of scrutiny from Congress and taxpayers so there is a lot of risk aversion in the DFC,” Erin Murphy of the Center for Strategic and International Studies says.
Now it will turn to the U.S. Congress to extend its mandate, potentially doubling its $60 billion portfolio cap, and changing how equity investments are accounted for. And as it continues to compete with China, it’s going to have to flesh out its identity and purpose.
As Murphy puts it: “Is it a development agency? Is it a foreign policy tool? How do you mesh those tensions?”
Read: Five years in, DFC navigates growth, reform, and global competition
Scott’s multibillion-dollar stocking stuffer
$2 billion
—Philanthropist MacKenzie Scott revealed last week that she has given away an additional $2 billion in donations, bringing her total giving to a staggering $19.2 billion since 2019 alone.
The exact amount she acknowledged donating is $2,004,400,000 in gifts to 199 organizations, according to a rare blog post.
“Roughly 75% of them are non-profits that support the economic security and opportunity of people who are struggling by improving access to affordable housing, jobs that provide stability for themselves and their families, child development and post-secondary education, healthcare, and financial counseling, business coaching, and low-interest rate loans focused on increasing economic potential and building wealth,” she wrote. “The others support well-being through other means, such as work on human rights and natural resources conservation.”
Another intriguing tidbit is that she’s asked her investment team to “give away to source funds and companies focused on for-profit solutions to these challenges” as opposed to “withdrawing funds from a bank account, or from a stock portfolio that increases the wealth and influence of leaders who already have it.
“I’d like to withdraw them from a portfolio of investments in mission-aligned ventures, with leaders from the populations they are serving, or from generally undercapitalized groups like women and people of color.”
“I’m inspired by all the ways people invest in each other,” she concluded.
+ Devex Pro members can get the most out of our coverage of Scott’s philanthropy such as:
• MacKenzie Scott has lessons for philanthropists. Are they listening?
• MacKenzie Scott gave away over $2B last year. Where did it go?
Not a Pro member yet? Start your 15-day free trial today to access all our expert analyses, insider insights, exclusive events, and more.
In other news
Sudan has withdrawn from a global hunger-monitoring system ahead of a report likely to reveal worsening famine. [Reuters]
HIV cases in the Philippines have surged by 543% since 2010, with one-third of diagnoses occurring at a late stage. [DW]
The World Bank pledged $12 million for disaster response in Vanuatu, following a 7.3-magnitude earthquake in the country last week. [World Bank]
This is the last edition of the Newswire for 2024. We’re taking a holiday break and will be back on Jan. 2.
About the author
Anna Gawel
Anna Gawel is the Managing Editor of Devex. She previously worked as the managing editor of The Washington Diplomat, the flagship publication of D.C.’s diplomatic community. She’s had hundreds of articles published on world affairs, U.S. foreign policy, politics, security, trade, travel and the arts on topics ranging from the impact of State Department budget cuts to Caribbean efforts to fight climate change. She was also a broadcast producer and digital editor at WTOP News and host of the Global 360 podcast. She holds a journalism degree from the University of Maryland in College Park.
