IZA's scientific council advises the institute on strategic matters.

Members (as of May 2021) include:

• Dr. Thomas von Mitschke-Collande (Chairperson)
  Business Consultant, former Senior Partner at McKinsey
• Ms. Bärbel Dieckmann
  former Mayor of Bonn
• Prof. Dr. Jürgen Kluge
  Business Consultant, former CEO of Franz Haniel & Cie.
• Prof. Andrew J. Oswald, Ph.D.
  University of Warwick
• Prof. Sir Christopher A. Pissarides, Ph.D.
  London School of Economics, 2010 Nobel Laureate
• Dr. Frank-Jürgen Weise
  former CEO of the Federal Employment Agency
  and the Federal Office for Migration and Refugees