Bank of England Reviews | Glassdoor.co.uk

Bank of England Reviews

Updated 8 December 2018
127 reviews

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3.5
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Approve of CEO
Bank of England Governor Mark Carney
Mark Carney
66 Ratings

Employee Reviews

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Pros
  • "Great work life balance, good analysis" (in 44 reviews)

  • "Great culture, very little hierarchy (at least in SRS), real commitment to flexible working (in part a pragmatic response to desk shortage)" (in 16 reviews)

Cons
  • "Because it's such a great company to work for, it is very difficult for career progression - nobody wants to leave" (in 10 reviews)

  • "Low pay, limited career opportunities" (in 8 reviews)

More Pros and Cons

  1. "Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Personal Assistant in London, England
    Current Employee - Personal Assistant in London, England
    Recommends
    Positive Outlook

    I have been working at Bank of England full-time (More than a year)

    Pros

    - Treats everyone fairly
    - career growth
    - benefits

    Cons

    - pay is low
    - development for admin not great

    Advice to Management

    Nothing to add


  2. "Bank of England"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Great for work life balance

    Cons

    Difficult to get past hierarchy

  3. "Good but monotonous"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Bank of England full-time

    Pros

    - Good salary
    - Lots of opportunity
    - Good team environment

    Cons

    - Flexible working is division dependent


  4. "Started out good"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Neutral Outlook

    I worked at Bank of England full-time

    Pros

    Nice building, nice colleagues , good work life balance and benefits

    Cons

    Slow moving and a blame culture


  5. Helpful (1)

    "BoE"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    Work life balance is good. Interesting work.

    Cons

    Micro management; lack of career progression; low salaries.


  6. Helpful (2)

    "A Bank in gradual decline, pointless bureaucracy, abounds."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Analyst
    Former Employee - Analyst
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Bank of England full-time (More than a year)

    Pros

    Can camp out and do very little
    Your job doesn’t really matter as no senior accountability when things go wrong.
    Does look good on the CV.
    Pension is best in the city by some margin.
    Good for old timers on old (better) pay arrangements.
    Flexible working

    Cons

    You’ll drown in paperwork and committees, not to mention emails and meetings. Nothing will get done and you’ll have the same discussions this time next year. For those that want to get ahead and do things, the place will drain you of any energy, and you’ll slowly morph into a jaded lump of slime.

    Pay reviews are the most unfair, despite there being inordinate amount of reviews and the like. It’s exceptionally clique based despite the rhetoric.

    IT is the worst ive seen in two decades, good luck finding a laptop that actually functions.

    Canteen price gouging and quality v poor- 1.60£ for a croissant - taking the mickey.
    Hot desks...

    Advice to Management

    Remove levels b-d from the scale, disband half of all committees. Pay people based in market rates. Sack old timer coffin dodgers


  7. Helpful (4)

    "Stifling"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Supervisor in London, England
    Current Employee - Senior Supervisor in London, England
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I have been working at Bank of England full-time (More than 3 years)

    Pros

    Nobody really watches what you do

    Cons

    Stifling bureaucracy, insane commitment to impenetrable acronyms, no authority to take decisions, beyond politically correct.

    Advice to Management

    Beyond help

  8. Helpful (4)

    "Fancy being an insignificant piece of a 4000 piece jigsaw?"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Technology in London, England
    Former Employee - Technology in London, England
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at Bank of England full-time (More than 3 years)

    Pros

    I had a job. It paid the mortgage and bills.
    The people I directly worked with were a great bunch. Very hard working and conscientious.

    Cons

    If you want to give up your personality and become a small piece of a massive working machine, underpaid with no pay rise for many years, together with no hope of promotion then this is the perfect job.

    Stress levels are through the roof and a number of people in the department (inc. myself) were seeing the staff councillor to try and relieve the stress.

    Management attitude towards the staff is dictatorial - to say the least. Get the work done and complete unbelieveable admin work - or else!

    Want to show initiative ? Don't bother. It gets ignored and someone else (normally a manager) will have a better idea of their own.

    Too many senior staff making too many changes that directly affect the welfare of the staff with a "Its being changed for our futures"

    Advice to Management

    Trust your staff.
    Allow them some flexibility on their work life.
    Don't treat them like commodities to be used and thrown away when needed.


  9. "amazing place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Personal Assistant in London, England
    Current Employee - Personal Assistant in London, England
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Bank of England full-time (More than 3 years)

    Pros

    flexible working, good benefits, career progression

    Cons

    Salary is not great compared to other companies, not great bonus


  10. Helpful (1)

    "Work life balance is genuinely balanced"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bank of England full-time

    Pros

    Flexi-hours are respected here and you are able to work from home so there is a good balance.

    Cons

    HR is unorganised when it comes to junior staff e.g. graduates.