Bank of England Reviews | Glassdoor.co.uk

Bank of England Reviews

Updated 3 August 2018
109 reviews

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4.0
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Approve of CEO
Bank of England Governor Mark Carney
Mark Carney
59 Ratings

109 Employee Reviews

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Pros
  • "Great work life balance, good analysis" (in 37 reviews)

  • "Always interesting work to do and you get exposed to the inner workings of financial regulation" (in 12 reviews)

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

  • "Pay typically lower than private sector as expected" (in 8 reviews)

More Pros and Cons

  1. "High quality economic policy making"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Great quality of analysis and training opportunities

    Cons

    Can be a little hierarchical at times


  2. "Industrial Placement at The Bank of England"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Industrial Placement Student in London, England
    Current Employee - Industrial Placement Student in London, England
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Good level of responsibility
    Good support network
    Flexible Working
    Opportunities for development

    Cons

    None - I think this was a great place for an industrial placement. However going forward salaries can be lower than private companies but this is balanced by an excellent work/life balance.

  3. "An excellent company"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IT Analyst in London, England
    Former Employee - IT Analyst in London, England
    Recommends
    Positive Outlook
    Disapproves of CEO

    I worked at Bank of England full-time (More than 5 years)

    Pros

    Takes great care if it's staff.

    Excellent facilities - the best of the best and very sorry that I left!

    Cons

    Because it's such a great company to work for, it is very difficult for career progression - nobody wants to leave!

    Advice to Management

    Do not load the company up with employees that will have difficulty progressing their careers - it eventually creates morale problems


  4. "Policy Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of England full-time

    Pros

    Very great environment to work. Career prospects.

    Cons

    slower paced environment than the private sector.


  5. "Data Analyst"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bank of England full-time

    Pros

    Great people, very flexible working conditions

    Cons

    pay, some processes can take quite long


  6. Helpful (1)

    "Prestigious place but every unit has different work culture."

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

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

    Pros

    Lots of flexible working. A lot of people have worked there for years.

    Cons

    Some managers can get away with a lot of things.


  7. "Industrial Placement"

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

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

    Pros

    You can easily see where your work is making a difference and you are given the freedom to explore your own work path. It also has a great work/life balance with the use of flexible time across most departments.

    Cons

    When compared to other employers you are not paid anywhere near the same if you were to work in the private sector.

  8. "Industrial Placement Research Assistant"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Bank of England full-time

    Pros

    - Vibrant and diverse workforce. Learnt a lot from colleagues.

    Cons

    - HR function was opaque and disorganised
    - Decisions made at high level


  9. "Slow and steady"

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

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

    Pros

    Working from home
    Flexibility
    Great facilities eg canteen, coffee shops, gym
    7 hour days with 1 hour lunch break
    Fantastic pension compared with private sector

    Cons

    Bureaucratic
    Easier to just do nothing than do anything
    Improving anything is hard
    Projects are scoped with poorly defined requirements and so fail to deliver. An example of this is the new internal smart ticketing system.
    People are not measured on actual results but time in the office
    Lack of clear strategy and direction. We are 18 months into a project and still defining the second year deliverables????
    A focus on product rather than actually looking at what you want to ultimately achieve.
    In my area lots of history of getting latest shiny product, it failing to deliver and then running until lights go out. Define requirements at beginning!!!
    Don’t believe supplier hype

    Advice to Management

    Proper planning prevents poor performance.

    Fail to plan then plan to fail.

    Producing documents that no one reads and are just tick box exercises do not improve project outcome. How many documents were produced for the smartIT system?


  10. "Senior economist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Economist in London, England
    Current Employee - Senior Economist in London, England
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Bank of England full-time (More than 8 years)

    Pros

    Great work life balance, good analysis

    Cons

    Low pay, limited career opportunities


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