Bank of England Reviews
Updated Aug 16, 2022
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Found 413 of over 488 reviews
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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)
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
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- Current Employee, more than 5 years★★★★★
Pros
Work life balance is great challenging work options to work on various different domains and roles
Cons
salary not market competitive not any more cons
- Current Employee★★★★★
Pros
Great place to work with great people
Cons
slow career progression and not as diverse as they claim to be
- Current Employee, more than 3 years★★★★★
Pros
Great culture, variety of work and ability to move around and try different roles to gain new skills
Cons
The salary, however this is to be expected given a public institution.
- Current Employee★★★★★
Pros
Enriching, great choice career wise
Cons
Have to cope with pressure
- Current Employee, more than 8 years★★★★★
Pros
You dont have to do much work compared to other companies.
Cons
Almost too relaxed, getting people to do their day job can be hard work
Continue reading - Current Employee, more than 10 years★★★★★
Great place to work - inclusive, friendly and devoted to the common good
RecommendCEO ApprovalBusiness OutlookPros
Sense of purpose, friendly environment
Cons
Change can happen very slowly
- Former Employee, more than 1 year★★★★★
Pros
Good work-life balance Opportunity to move across divisions
Cons
Public sector pay Bureaucracy Slow HR response
- Current Employee, more than 5 years★★★★★
Not the best place and abysmal pay reviews - jobs for mates and minorities
RecommendCEO ApprovalBusiness OutlookPros
Iconic building CV booster - get this on your CV and Linkedin, people come to you Canteen HO - quite good Element of flexible working from home - governors doing best to stop this gradually though
Cons
10 years poor pay (ASR) reviews Nil or 1% if fortunate, challenge is now since I joined my pay is greatly reduced in relation to RPI CPI This year - 1% when inflation was 3-4%, then not long after jumped to 10% plus. Enough is enough, cannot remain with annual effective pay cuts Nepotism - jobs for the ladies... minorities.. mates. People get jobs not even advertised... disgraceful really New people director - churning over same stuff Regional offices - clearly aiming to push roles outside of London for cheaper pay, maybe why London based people feeling more and more disdain Attrition on the up Green badges (contractors) all over the place, reaping in the cash whilst loyal workers pick up crumbs
Continue reading - Current Employee★★★★★
Pros
Nice colleagues and very collegiate
Cons
Pay is low compared to industry
- Current Employee, more than 5 years★★★★★
Pay dismal and diversity only focused on women and race, all other groups experiencing discrimination ignored
RecommendCEO ApprovalBusiness OutlookPros
Interesting work. Bank name well regarded on CVs. During the pandemic they treated their people fairly and prioritised their well-being but this has now eroded in the living with covid phase.
Cons
Pay is dismal. Year after year of considerably below inflation increases even for top performers. Even prior to the inflation crisis you actually had to progress to next level of seniority (through open market application, not in-house promotion which has been done away with) just to keep your pay with inflation. You are restricted to applying to new roles a maximum of one grade above your current role and aren’t allowed to move for 2 years after starting in a role. This means that it is almost impossible to ever increase your salary when inflation is taken into account even with promotion you are doing more work and gave more responsibility for effectively less pay. Top level management takes advantage of peoples good will which has left staff exhausted and demoralised. Prior to the Covid lockdowns the Bank was a far more flexible for its workers than other companies which was a real selling point but now in the living with covid times it is middle of the pack. Diversity and Inclusion focuses on women and race. All other groups, some of which are experiencing significant discrimination and surveys show have even worse outcomes than women and race, are either ignored or words of encourage said but no action taken.
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Bank of England Reviews FAQs
Bank of England has an overall rating of 3.8 out of 5, based on over 488 reviews left anonymously by employees. 71% of employees would recommend working at Bank of England to a friend and 64% have a positive outlook for the business. This rating has decreased by -1% over the last 12 months.
71% of Bank of England employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated Bank of England 4.3 out of 5 for work life balance, 4.0 for culture and values and 3.3 for career opportunities.
According to reviews on Glassdoor, employees commonly mention the pros of working at Bank of England to be culture, benefits, career development and the cons to be senior leadership, diversity and inclusion, management.
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