Bank of England Reviews | Glassdoor.co.uk

Bank of England Reviews

Updated 8 Sep 2019

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Found 163 reviews

3.3
StarStarStarStarStar
Rating TrendsRating Trends
65%
Recommend to a Friend
79%
Approve of CEO
Bank of England CEO Mark Carney
Mark Carney
83 Ratings
Pros
Cons
  • "Because it's such a great company to work for, it is very difficult for career progression - nobody wants to leave(in 11 reviews)

  • "Pay significantly lower than private sector - to be expected(in 9 reviews)

More Pros and Cons
  1. "The bank is a Great place to work"

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

    I have been working at Bank of England full-time for more than 3 years

    Pros

    Work life balance and responsibility

    Cons

    Bureaucracy can be a pain occasionally

    Bank of England2019-09-08
  2. "Interesting and varied workload"

    StarStarStarStarStar
    Former Employee - Industrial Placement 

    I worked at Bank of England full-time

    Pros

    Good work life balance, Great colleagues

    Cons

    Some resistance to new ideas

    Bank of England2019-08-18
  3. Helpful (2)

    "Good culture, hard to get payrise"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Accountant in London, England
    Recommends
    Negative Outlook
    No Opinion of CEO

    I have been working at Bank of England full-time for more than 8 years

    Pros

    Great perks and culture. Usually good work life balance but not all teams

    Cons

    Tight HR policies prevent you from progressing at the speed you would elsewhere. Very bureaucratic and a lot of red tape

    Continue reading
    Bank of England2019-08-13
  4. "BoE"

    StarStarStarStarStar
    Current Employee - Data Analyst 

    I have been working at Bank of England full-time

    Pros

    Friendly Staff Good workplace culture Nice Offices

    Cons

    Lack of progression Days can be slow

    Bank of England2019-08-15
  5. "Good place to work and grow"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
     
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of England

    Pros

    Work and life balance is good

    Cons

    Sometimes the regulation and control could be pain

    Continue reading
    Bank of England2019-08-13
  6. Helpful (1)

    "Didn’t meet expectations"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Supervision 
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at Bank of England full-time for more than a year

    Pros

    Idea sharing , in the middle of so much chain

    Cons

    Hierarchical (managers often block access to interesting work unless short staffed and desperate), More focus on process than outputs, rampant imperialist bullying (make of it what you wish

    Continue reading
    Bank of England2019-08-09
  7. Helpful (1)

    "The Bank talks a good game, in reality a shambles"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Manager - Scale E in London, England
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Bank of England full-time for more than a year

    Pros

    Canteen. Lots of annual leave. Slow pace and easy to coast. Good for CV. Large pension.

    Cons

    Extremely unfair promotion system, it’s all about who you know. Bank pretends it’s a inclusive place, when all the good jobs are appointed without scrutiny. Lots of senior managers out of their depth, over promoted and lack people skills. Micromanaging is endemic in places, and entire teams of staff are miserable as a result. Nobody is accountable for anything. Extremely political, lots of backstabbing. Very old fashioned and hierarchical. Culture of secrecy, key decisions made behind closed doors. Salary is behind private sector and continues to fall with pay freezes.

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    Bank of England2019-08-21
  8. Helpful (1)

    "Needs a Major Transformation"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Research Assistant in London, England
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Bank of England full-time for more than a year

    Pros

    - Genuinely lots of kind people who want to do a good job and have excellent skills. - The catering and support (facilities, property, security) staff are the nicest bunch. . - With the right manager, you can have a very easy and nice job. But don’t expect to do challenging work. The organisation is still too tightly-driven by structural challenges. - Not a forward-thinking staff base in general. I have been very unimpressed with the general calibre since first day on the job. And years later, nothing has changed. - The large majority of people operated with the best intentions.

    Cons

    - Lots of really false and two-faced people, especially in management roles. - HR absolutely terrible in supporting staff and this filters down to every corner of the Bank. - Choice of food and drink in cafeterias (TS and MG) varied but also quite boring. - Strong ‘blame’ culture based on ‘finger-pointing’ and retribution (like primary school, goodness!!). - At face-value the organisation promotes itself as ‘forward-thinking’ and open to flexible-working and new technologies (which could improve efficiency and analytical outputs), but in reality most people go for ‘quick-wins’. - Too much sensitivity in management to reputation. - Too much focus on people with the loudest voice, people-skills. These people progress while the lowly quiet hard workers get loaded and overwhelmed with work. - A real sense of ego and self-importance amongst many that sadly doesn’t mirror in their outputs. A real waste of taxpayer’s money. - Progression is slow. - Pay increases are slow. - Be prepared to do a lot of great quality work and work ridiculously hard to then be told you are not performing. - People-pleasers progress. Genuine, clever people leave. - Box-ticking culture. - Backbiting in all management. - TERRIBLE support for those with disabilities and workplace adjustments. - NOT recommended for graduates or as a first-job. - Good and honest people that could potentially add a lot of value held back and bullied emotionally by their management and the culture. - Despite best intentions the large majority of people seem complacent and afraid.

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    Bank of England2019-08-21
  9. Helpful (2)

    "Very good workplace. Not so good people"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - General Assistant in London, England
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at Bank of England full-time for less than a year

    Pros

    The place and customers are amazing

    Cons

    Upper management is a nightmare

    Continue reading
    Bank of England2019-07-15
  10. Helpful (3)

    "Look elsewhere if you want job satisfaction"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Analyst 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at Bank of England full-time for more than 3 years

    Pros

    Loads of experience to grow

    Cons

    Don’t be surprised if you know more than your manager and yes the manager holds the pen on progression.

    Bank of England2019-07-10
Found 163 reviews