Bank of England Reviews

Updated Aug 16, 2022

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Found 413 of over 488 reviews

3.8
71%
Recommend to a Friend
0%
Approve of CEO
Bank of England Governor Andrew Bailey (no image)
Andrew Bailey
1 Rating
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 5 years

      Great work life balance

      May 16, 2022 - Senior Software Engineer 
      Recommend
      CEO Approval
      Business Outlook

      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

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    2. 4.0
      Current Employee

      Great work place but slow career progression

      Aug 16, 2022 - Senior Supervisor in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great place to work with great people

      Cons

      slow career progression and not as diverse as they claim to be

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    3. 4.0
      Current Employee, more than 3 years

      Good all round

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

      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.

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    4. 4.0
      Current Employee

      Excellent

      Aug 9, 2022 - Economist in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Enriching, great choice career wise

      Cons

      Have to cope with pressure

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    5. 4.0
      Current Employee, more than 8 years

      Its not what you know its who you know

      Aug 9, 2022 - Software Specialist in London, England
      Recommend
      CEO Approval
      Business Outlook

      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

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    6. 5.0
      Current Employee, more than 10 years

      Great place to work - inclusive, friendly and devoted to the common good

      Jul 30, 2022 - Anonymous Employee in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Sense of purpose, friendly environment

      Cons

      Change can happen very slowly

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    7. 4.0
      Former Employee, more than 1 year

      Good worklife balance

      Jul 24, 2022 - Analyst in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Good work-life balance Opportunity to move across divisions

      Cons

      Public sector pay Bureaucracy Slow HR response

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    8. 2.0
      Current Employee, more than 5 years

      Not the best place and abysmal pay reviews - jobs for mates and minorities

      Aug 5, 2022 - Manager in London, England
      Recommend
      CEO Approval
      Business Outlook

      Pros

      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

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      2 people found this review helpful
    9. 4.0
      Current Employee

      Good place to work for a few years

      Jul 21, 2022 - Manager 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Nice colleagues and very collegiate

      Cons

      Pay is low compared to industry

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    10. 2.0
      Current Employee, more than 5 years

      Pros

      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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      4 people found this review helpful
    Viewing 1 - 10 of 413 Reviews

    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.

    According to anonymously submitted Glassdoor reviews, Bank of England employees rate their compensation and benefits as 3.1 out of 5. Find out more about salaries and benefits at Bank of England. This rating has decreased by -8% 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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