Bank of England Reviews

Pros

professional development, high profile and interesting work, intellectual challenge, working with high-profile economists and being close to where important decisions are taken.

Cons

The remuneration is not competitive and the reward for performance is limited. There is a lot of wasted work and the incentives for employees are badly aligned with those of the organisation.

Pros

Flexible attitude towards working, family friendly. Opportunity to earn overtime at certain pay grades. Well respected employer, fantastic facilities and makes you proud to walk through the door.

Cons

Salary is low compared to market rates in other areas of the city, however this is compensated for by the flexibility and abaility to earn overtime. There can be lots of red-tape due to the nature of the relationship with the government,

Advice to Senior Management

Better career / talent management is needed to ensure staff feel rewarded and valued, with obtainable goals to give re-assurance they are progressing.

Pros

The job offers the opportunity to have a daily impact on UK society and to work together with very good and motivated staff. Good mixture of people with backgrounds in economics, finance, mathematics, and so on, coming not only from the UK but from all over the world. The work-life balance is good compared to city jobs, with most people in my area working from 8.30 to 6. Career development is important to the Bank, and staff are encouraged to move around within the Bank or to go on secondments in the City or abroad (for example Bank of Australia, Fed, etc.).

Cons

Salaries are good to live on but not as high as in the city. While the Bank offers you to move around to different positions, advancement to managerial roles is relatively slow compared to the private sector.

Advice to Senior Management

I think the management of the Bank is doing a good job. Staff is regularly informed about recent developments or important issues via speeches by senior management.