Bank of England

www.bankofengland.co.uk

Bank of England Interview Questions

Updated Dec 23, 2014
Updated Dec 23, 2014
16 Interview Reviews

Interview Experience

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Candidate Interview Reviews

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  1.  

    Graduate All Disciplines Programmer Interview

    Anonymous Interview Candidate
    Anonymous Interview Candidate
    Interview Details

    - Filled in application, including around 1800 words on competency questions. These were fairly standard, apart from the first question in which you need to demonstrate you've really done your research (What do you think the Bank's top 3 priorities should be over the next 2 years?)

    - Completed Watson-Glaser critical thinking test online - basically a verbal reasoning/comprehension test

    - Was invited to first stage assessment centre; consisted of 2 unrelated tests, neither for which you can study for. The first lasted 45 mins and was a financial appraisal test - you needed to follow certain rules to accept or reject investment proposals they gave you. The second was a written report around a case study, lasting 90 mins.

    - Heard back after 1 week (even though they said it would take 3 weeks to hear back), am now booked onto the second stage assessment where there are group exercises and an interview. Will update this after I have been.

    Interview Questions
    • What do you think the Bank's top 3 priorities should be over the next 2 years?

      Please explain what attracts you to the Bank of England - giving specifics of the area(s) of the Bank you would be really interested in joining and an understanding of why you want to work in or would suit this area(s)
       
      Answer Question
    No Offer
    Positive Experience
    Average Interview
  2.  

    Postgraduate Interview

    Anonymous Interview Candidate
    Anonymous Interview Candidate
    Application Details

    I applied online – interviewed at Bank of England.

    Interview Details

    If you are successful in applying to the Postgrad position and acing the online test, then you'll be invited to the first round test centre (one of two rounds). The first round consists of a written analytical test and a psychometric test. The written analytical test you can study for, the psychometric test you can't.
    The written analytical test is a case study. You get a lot of information (reports, graphs, tables etc) and are asked to write an email to a senior explaining 2-3 questions. When I took the test it was about a bank defaulting and another bank risking a credit downgrade. The questions as I remember them are - What could this mean for the real economy?
    - Is this evidence of a larger problem within the banking sector or just this one bank?
    - Something about how it could be tackled - does it warrant any action?

    The analytical test is by far the easiest and the hard part is managing your time and not repeating yourself. The psychometric test is, however, a different story. It is designed to test your ability to learn and implement. You get two booklets - one containing pages for writing the correct answer, and the other booklet contains rules that are to be implemented during the test. The test focus around investment opportunities but you don't need to know any finance to understand it. For every page you need to answer in booklet #1 there's a rule to figuring out the correct approach in booklet #2. The further you get in the test, the more rules you have to remember, as well as exceptions to the rules.

    Many of my candidates had taken the test two or three times which naturally gave them an advantage. You will waste a lot of time familiarising yourself with the test and the rules.

    Good luck

    Interview Questions
    No Offer
  3.  

    Graduate Economist Interview

    Anonymous Interview Candidate in London, England (UK)
    Anonymous Interview Candidate in London, England (UK)
    Application Details

    I applied online – interviewed at Bank of England.

    Interview Details

    First stage is writing exercise at the bank, then the second stage is panel interview + group exercise + competency test. The group exercise had nothing to do with monetary policy. Panel interview gets quite technical and go into the details of monetary policy.

    Interview Questions
    • Explain major crises in the past and discuss causes and policy actions   Answer Question
    No Offer
    Negative Experience
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  5.  

    First Year Interview

    Anonymous Interview Candidate in London, England (UK)
    Anonymous Interview Candidate in London, England (UK)
    Application Details

    I applied online. The process took 4+ weeksinterviewed at Bank of England in May 2014.

    Interview Details

    Online application with education history, followed by a logical reasoning test and if successful a telephone interview. Telephone interview is competency based and must be able to demonstrate interest working in the Bank. Offer is then made. Allocations are made to departments - you cannot choose department or express a preference. The position could be anywhere in the Bank - from Monetary Analysis, Financial Stability, Prudential Regulation and Operations/Support.

    Interview Questions
    • No difficult or unexpected questions. Very standard competency based questions.   Answer Question
    Accepted Offer
    Positive Experience
    Easy Interview
  6.  

    First Year Interview

    Anonymous Interview Candidate in London, England (UK)
    Anonymous Interview Candidate in London, England (UK)
    Application Details

    I applied online. The process took 4+ weeksinterviewed at Bank of England in May 2014.

    Interview Details

    The first stage was an online application, than a Critical Thinking test. If you pass it, you have a 30 minutes phone interview with an HR recruiter. The process was pretty straightforward, and the interview wasn't really hard, it has competency (e.g. an example when you've showed team-working skills) and motivation questions (e.g. why do you want to work for us).

    Interview Questions
    • Nothing really hard or unexpected, mostly competency based questions.   Answer Question
    No Offer
    Positive Experience
    Average Interview
  7. 1 person found this helpful  

    Intern Interview

    Anonymous Interview Candidate in London, England (UK)
    Anonymous Interview Candidate in London, England (UK)
    Application Details

    I applied online – interviewed at Bank of England in April 2014.

    Interview Details

    Applied online: fairly standard application form with three competency questions to complete. Asked to complete the Watson-Glaser Critical Thinking Ability test. Invited to complete a telephone interview, the interview was predominantly competency based and very little knowledge of the Bank itself was tested. Received an offer around a month later. (no assessment centre/ face-to-face interview)

    Interview Questions
    • All fairly standard questions. e.g. "When have you shown leadership skills?"   Answer Question
    Accepted Offer
    Positive Experience
    Average Interview
  8. 1 person found this helpful  

    Sandwich Placement Year Interview

    Anonymous Interview Candidate in London, England (UK)
    Anonymous Interview Candidate in London, England (UK)
    Application Details

    I applied online. The process took 2+ monthsinterviewed at Bank of England.

    Interview Details

    Applied online with standard questionnaire including sections on past experience, education, skills, personality, etc.

    This was followed by a half-day assessment centre at the Bank of England HQ in London. The process consisted of the following:
    - a timed excel test
    - a group task involving analysis, debate, and presentation
    - an hour-long individual interview with both a technical and a human resource member

    Interview Questions
    Accepted Offer
    Positive Experience
    Difficult Interview
  9. 1 person found this helpful  

    Intern Interview

    Anonymous Interview Candidate in London, England (UK)
    Anonymous Interview Candidate in London, England (UK)
    Application Details

    I applied online. The process took 3+ monthsinterviewed at Bank of England in March 2014.

    Interview Details

    Online application form followed by an online assessment that tested deduction, inference and evaluation skills. After passing these tests I was invited to the first assessment centre that lasted for half a day and involved a numerical test and writing a report under timed conditions. After passing this, I was invited to the final assessment centre where the tasks were a group exercise and then a face-to-face interview.

    Interview Questions
    • Is there any need for physical money considering the different methods of payment now available?   Answer Question
    Accepted Offer
    Positive Experience
    Average Interview
  10.  

    Graduate Economist Interview

    Anonymous Interview Candidate in London, England (UK)
    Anonymous Interview Candidate in London, England (UK)
    Application Details

    I applied online – interviewed at Bank of England in October 2013.

    Interview Details

    Online situational judgment test needs to be passed before progressing to the assessment centre. The first round assessment centre is split up into two sections. First a financial accounts/ logical test which requires you to follow a set of rules and apply them to data. The test gets progressively harder. You can't really prepare for it. Aim to work fast and accurate.

    Second is the written assessment completed on a laptops provided. I was required to read a 12 page document (including graphs and tables) describing the situation of a failing bank and then produce a response report, detailing my advice based on this information. My advice would be to read up and economic and financial concepts relevant to a central bank (in particular the transmission mechanism).

    No Offer
    Positive Experience
    Difficult Interview
  11.  

    Intern Interview

    Anonymous Interview Candidate in London, England (UK)
    Anonymous Interview Candidate in London, England (UK)
    Application Details

    I applied online – interviewed at Bank of England in January 2013.

    Interview Details

    Several Steps: Phone Interview, Assessment Centre (Logic + Essay), Half Day Interview + Assessment (Assessed in a team). Entire process took approximately 2 months to complete. Economist and Non-economists are assessed via two different routes as the Bank aims to get a wider pool of candidates with a variety of backgrounds.

    Interview Questions
    • Assessment Centre questions have increasing difficulty and it is unlikely you will finish all the questions in the allocated time.   Answer Question
    Accepted Offer
    Positive Experience
    Difficult Interview

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