Bank of England - Needs a Major Transformation | Glassdoor.co.uk
  1. 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.

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    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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    Advice to Management

    Throw out the rule book and start again. I like Carney but I hope we get a more radical Governor after he leaves. In all, a lot of hypocrisy. And my dream of working for my country’s Central Bank after graduating in Economics almost completely ruined by the organisation. Rather, I am genuinely afraid to speak my piece and genuinely afraid to challenge the status quo. This is how the less-abled and more... socially-adept colleagues stick while the good ones leave...

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    Bank of England2019-08-21
  1. "desktop support"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Desktop Support Technician in London, England
    Recommends

    I have been working at Bank of England full-time for more than 5 years

    Pros

    always learning something new ,

    Cons

    having to deal with users

    Bank of England2019-09-29
  2. "Great!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Intern - Cyber Security Analyst in London, England
    Recommends
    Neutral Outlook
    No Opinion of CEO

    I worked at Bank of England for less than a year

    Pros

    - Flexible working is amazing - Regular breaks encouraged - Events for personal development

    Cons

    - Hierarchy system, not the best

    Bank of England2019-10-15

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