Bank of England Reviews | Glassdoor.co.uk

Bank of England Reviews

Updated 22 October 2018
119 reviews

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3.8
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Approve of CEO
Bank of England Governor Mark Carney
Mark Carney
64 Ratings

119 Employee Reviews

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Pros
  • "Great work life balance, good analysis" (in 41 reviews)

  • "Great culture, very little hierarchy (at least in SRS), real commitment to flexible working (in part a pragmatic response to desk shortage)" (in 15 reviews)

Cons
  • "Because it's such a great company to work for, it is very difficult for career progression - nobody wants to leave" (in 9 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. "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

  3. "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.


  4. "I’d recommend it"

    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 5 years)

    Pros

    Flexible working
    Diverse career opportunities
    Amazing building to work in

    Cons

    hierarchical in some areas of the business


  5. "Work Life Balance and Company Culture"

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

    I worked at Bank of England full-time

    Pros

    BoE provides a great work life balance and gives employees a lot of flexibility.
    They truly believe in diversity and growth of employees.

    Cons

    It is a stiff work environment that feels a bit boring over time. There are not enough activities outside of work to build team rapport.


  6. "Fantastic work life balance"

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

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

    Pros

    - Work life balance
    - Work from home
    - Great opportunities to change roles and departments
    - Iconic location and building

    Cons

    - Pay isn't as high compared to other private financial institutes


  7. "Good"

    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

    Excellent work life balance overall.

    Cons

    Slow career progression until a grad.

  8. "A good employer, could be a great employer"

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

    I have been working at Bank of England full-time

    Pros

    1. The work is nationally important and very interesting.
    2. Nice people who work hard (harder than most people think).
    3. On the whole work life balance is good.

    Cons

    1. Management deeds don't always match their words.
    2. Decision making is very slow.
    3. Pay is below market rate
    4. Career progression is glacialy slow.
    5. Some managers play favourites too often.

    Advice to Management

    Don't promise things to staff or make public commitments that you can't deliver on.


  9. Helpful (4)

    "Yes culture expected."

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

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

    Pros

    Flexible working is higly encouraged.

    Cons

    - Vision 2020 principles are not followed, obviously, this was in my own sub unit within a division
    -If you say yes to senior management then you will enjoy work there. If not you'll be sidelined.
    - It is heavily hierarchical and political
    -Some people of color who are not English can be outplayed or encounter some undertones.
    - Too many meetings to discuss with having meetings.
    -Your manager is supreme and if he or she feels you are a threat, you are out. Anything can be manufactured to get you out, this includes but not limited to lying on your performance reviews and you'll have no one to defend you if it is a lie.
    - Siloed ways of working
    - The scale card can be used to downplay you or used against you at any time. Goodluck being a person of color at a lower scale.

    Advice to Management

    - Allow everyone(team members) gives feedback to managers during the 360 feedback cycle.
    - Allow everyone(team members) gives feedback to contractors during the 360 feedback cycle.
    -All feedbacks and performance reviews should align with Vision 2020 thereby denying managers from playing favoritism or intentionally kicking people out.


  10. "Old fashioned, but with good work-life balance"

    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
    Neutral Outlook
    No opinion of CEO

    I have been working at Bank of England part-time (More than 10 years)

    Pros

    - Decent pension and benefits (e.g. BUPA)
     - Subsidised gym membership
     - Flexible working hours possible (negotiation with line manager)

    Cons

    - Management with long-tenures (can be hard to get on)
    - Old fashioned practices; can mean management like to see you at your desk
    - Technology doesn't support modern day working
    - Low salaries

    Advice to Management

    Move with the times, improve technology and flexible working options. Hire by talent not tenure.


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