Bank of England Reviews

Updated Jan 18, 2022

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Found 343 of over 410 reviews

3.9
83%
Recommend to a Friend
86%
Approve of CEO
Bank of England Governor Mark Carney
Mark Carney
141 Ratings
Pros
  • "Staff are treated well with a great work life balance(in 107 reviews)

  • "Managed flexible working during the pandemic very well(in 40 reviews)

  • Cons
  • "Lower salary than private sector equivalent(in 20 reviews)

  • "Career progression not always based on merit(in 19 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

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    1. 5.0
      Current Employee, more than 3 years

      Great experience and work life balance

      Nov 24, 2021 - Senior Risk Specialist 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Working at the Bank you have opportunity to take ownership of key projects and work in with relevant stakeholders in the sector. Amazingly diverse and inclusive environment.

      Cons

      Decision making process is slow and challenging sometimes.

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    2. 4.0
      Former Employee, more than 3 years

      BoE

      Jan 18, 2022 - Senior Supervisor in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      - Exposure to interesting and topical areas of work - Exposure to senior stakeholders at firms with a high level of responsibility/ agency - Great work-life balance - Strong exit opportunities to Risk/ Consulting professions - Strong overall salary for the first 4 years (when taking into account the pension/ benefits package) - Some really intelligent and interesting people

      Cons

      - Terrible technology infrastructure. As opposed to investing money into modern infrastructure to handle data, the Bank encourages in-house Supervisors/ Senior Supervisors to build systems in their spare time at work. Internal systems used to review firm regulatory data consist of antiquated Excel spreadsheets which are extremely slow and prone to error. Where money is invested, the choice of technology is poor; with a notable example being the Bank's recent material investment into hybrid tablet laptops which are not fit for purpose. As a result, basic programs are extremely slow and crash frequently which has an impact on day-to-day work and morale. The most senior staff at the Bank are constantly discussing their plans to improve technology, although the reluctance to invest money results in a focus on workarounds for inadequate legacy systems. Overall, this has a huge impact on the ability of staff to perform their jobs. - The great work-life balance at the Bank is not consistent across teams. There are teams with a lower workload and other teams where there is a very high workload. The pay in both areas will be the same but the workload may differ by a factor of two or three times. - The Bank is not well-paid compared to the private sector or other central banks. More experienced or technical staff are predominantly individuals towards the end of their career who want a slower-paced career, while graduate retention is poor. This can lead to a case of 'the blind leading the blind' where non-technical, younger managers are unable to develop graduates. There is high turnover and a lack of technical staff. - The senior management at the Bank is generally strong. There are a number of managers below this level with extremely poor communication/ people skills in position as a result of their long tenure at the Bank. These individuals are not held to account and any incompetence in their team will be blamed on the staff under their management.

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    3. 4.0
      Current Employee, more than 8 years

      Good employer, but could do better

      Jan 15, 2022 - Senior Analyst in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Interesting work Investment in training and research You can get exposure to interesting fields, and rotate Lots of flexibility

      Cons

      Lack of D&I; hard to get promoted; pay not great

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    4. 4.0
      Current Employee, more than 1 year

      Great people, hard to make vertical progress

      Jan 12, 2022 - Risk Analyst in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great diversity & inclusion Easy to move around within the Bank Some really intelligent people Good working hours

      Cons

      Low salary Slow progress Variation in ambition across teams Poor incentive structure

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    5. 4.0
      Current Employee

      Nice environment

      Jan 10, 2022 - Analyst in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      People are friendly, nice place to work

      Cons

      Pay can be quite low. Progression is limited in some areas.

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    6. 4.0
      Former Employee, more than 3 years

      Great people

      Jan 7, 2022 - Manager in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Superb culture, interesting work, diverse workforce.

      Cons

      Salaries not bad for public sector but still low for London.

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    7. 4.0
      Current Employee, more than 5 years

      Good work life balance

      Dec 28, 2021 - Manager in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Flexibility and people friendly; and nice to work with.

      Cons

      Career progression limited. Getting things done can be drawn out - decisions can be by committee.

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    8. 3.0
      Current Employee

      REVIEW

      Jan 10, 2022 - Senior Economist in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      meaningful, competent, influential, technical, prestigious

      Cons

      low salary, hard work, hierarchical, long hours, low career prospects

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    9. 5.0
      Current Employee, more than 1 year

      Great place to work.

      Dec 12, 2021 - Supervisor 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Managers prioritise your work-life balance with respectable working hours. Plenty of cross-division work opportunities are available outside your immediate division. Colleagues are friendly and helpful. Work is extremely interesting and impactful, with exposure to the higher echelons of finance (individuals and issues).

      Cons

      Career progression can get a bit slow during the later stages.

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    10. 4.0
      Current Employee, more than 5 years

      Great place to work

      Dec 11, 2021 - IAM Analyst in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Large company Great social life Diversity Great benefits package for permanent staff Personal development

      Cons

      Progression Bonuses Mentorship Hard to get into managerial roles

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