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Bank of England Reviews

Updated 20 February 2018
94 reviews

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3.7
StarStarStarStarStar
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Approve of CEO
Bank of England Governor Mark Carney
Mark Carney
52 Ratings

94 Employee Reviews

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Pros
  • Good work/life balance with good growth opportunities (in 33 reviews)

  • Always interesting work to do and you get exposed to the inner workings of financial regulation (in 10 reviews)

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

  • Pay in SRS generally competitive on entry but lags over time due to public sector pay cap (in 8 reviews)

More Pros and Cons

  1. "Senior Risk Specialist"

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

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

    Pros

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

    Work is interesting an allows a much broader view than you would ever get in a firm.

    In an era of juniorisation, get to work with a diverse group of people with vast collective experience

    Cons

    Pay in SRS generally competitive on entry but lags over time due to public sector pay cap. 10% bonus max but offset with rpi linked db pension.

    People stick around so not somewhere to go if you want rapid progression

    Advice to Management

    Get some better chefs in the canteen


  2. "Prudential Regulation Authority"

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

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

    Pros

    Good workplace culture and senior managers are keen to help you progress, although HR can get in the way sometimes.

    Cons

    Low pay relative to the city of London and other financial institutions, but this is not surprising given it is not a private bank run for profit.

    Advice to Management

    Doing good work so far and I'm enjoying working here. More emphasis on casual flexible working (i.e. working from home more regularly) wouldn't hurt.


  3. "Policy analyst"

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

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

    Pros

    Amazing culture, full of very intelligent staff, collegiate culture. Always interesting work to do and you get exposed to the inner workings of financial regulation.

    Cons

    Low pay relative to rest of the City.
    Offices are in the Bank itself and are a little uncomfortable.
    Silo culture in some cases

    Advice to Management

    Refurbish interior offices, greater communication between different departments.


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  5. "BBB"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Excellent work life balance policy

    Cons

    Lack of corporate driven environment


  6. "Okay"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Nice people, flexible, laid-back culture

    Cons

    Slow, no clear learning path


  7. "Good Graduate Programme"

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

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

    Pros

    Friendly culture, good training, good work life balance

    Cons

    Less pay versus other jobs in finance


  8. "Economist"

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

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

    Pros

    Interesting job, very intelligent people to work with, possibility to make an impact, many learning and development opportunities, good work/life balance.

    Cons

    Salary, slow career progression, admin and bureaucracy


  9. "Great job, poor pay framework and HR"

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

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

    Pros

    Interesting work with smart people and the working conditions (in my area) are good - hours aren’t crazy, a lot of latitude to guide your own work and use technical skills in an appropriate way.

    Cons

    For all the efforts to modernise over the last few years, the organisation still has a long way to go. It’s extremely bureaucratic and slow. It’s still very hierarchical, so you tend to end up working way below potential.

    The pay framework is ostensibly based on merit but is apparently based on tenure - at least for progression through the lower scales.

    HR also have a tendency to change rules in their favour, rewrite history to cover it up and then be unreachable, and deaf to complaints. This breeds unnecessary resentment that could easily be avoided.

    Advice to Management

    Management don’t communicate very well with staff the reasons for decisions higher up in the bank.


  10. "Personal Assistant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Bank of England full-time

    Pros

    Great work life balance. Great benefits package

    Cons

    More external training to be offered

    Advice to Management

    xxxxxxxxxx


  11. "Bank"

    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

    Great environment and a real collective desire to act in the best interests of the UK. Strong values and good benefits.

    Cons

    Fair amount of offciePolitics. Lots of people have been there a long time and set in their ways


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