Reserve Bank of Australia Reviews

Updated April 9, 2015
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3.2
13 Reviews
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Glenn Stevens
8 Ratings

Employee Reviews

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  1. Conservative but good work/life balance

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst
    Former Employee - Analyst

    I worked at Reserve Bank of Australia full-time (more than 3 years)

    Pros

    Analysts and managers in the economic policy departments are smart. Good work/life benefits and pay is excellent for hours you're expected to work.

    Cons

    The organisation is conservative with an extremely hierarchical structure. Difficult to do things in new ways or to suggest improvements to processes. Analysts work in narrow areas and opportunities for promotion are few. Training is minimal past the graduate program.

    Advice to Management

    More actively develop your staff.

  2. Senior Business Analyst

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Business Analyst in Sydney (Australia)
    Current Employee - Business Analyst in Sydney (Australia)

    I have been working at Reserve Bank of Australia full-time (more than a year)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Cafeteria with discount food, gym, good extracurricular activities

    Cons

    salary is a little low, career progression could be more streamlined and occasionally seems to be promote by seniority rather than talent

  3. Great people, but conservative organisation.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Economist
    Current Employee - Economist

    I have been working at Reserve Bank of Australia

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The people are incredibly smart and talented, and driven to get things right. Nobody takes a shortcut.

    Cons

    A very hierarchical and conservative organisation. All work gets edited through several levels, and opportunities to advance or take responsibilities are few and far between.

    Advice to Management

    Try a hands-off approach to managing people, and allow them to do things their way.

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  5. Great place to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate Level in Sydney (Australia)
    Former Employee - Associate Level in Sydney (Australia)

    I worked at Reserve Bank of Australia

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Helping achieve economic prosperity. Build lasting work relationships with nice people. Good benefits. Work life balance. Great Graduate program. Interesting work.

    Cons

    Vanilla Finance. Office politics. Beauracracy. Promotion difficult.

  6. Helpful (2)

    Great work / life balance but at a price

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Business Analyst in Sydney (Australia)
    Current Employee - Senior Business Analyst in Sydney (Australia)

    I have been working at Reserve Bank of Australia full-time (more than a year)

    Neutral Outlook
    No opinion of CEO
    Neutral Outlook
    No opinion of CEO

    Pros

    Great work / life balance. Flexible work hours. The environment and people are friendly. The projects are very interesting as they impact the entire financial market. Good training provided if you want it.

    Cons

    Opportunities for advancement are few and far between, especially if you are not a graduate. The bank is very conservative and therefore are not open to new ideas. The bank is quite inefficient in many ways.

  7. Helpful (1)

    Flexibility and great culture, with improvements in progress

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Technical Lead in Sydney (Australia)
    Current Employee - Technical Lead in Sydney (Australia)

    I have been working at Reserve Bank of Australia full-time (more than 5 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The workplace is certainly improving with new management coming in and seeking to improve business processes. Managers encourage career development and provide opportunities to do internal and external training. Rostered days off and flexibility around a study timetable makes this a great place to work while at university.

    Cons

    You may feel pidgeon-holed into a small role and need to take your own initiative to gain variety of work.

    Advice to Management

    Take more time to mix with a variety of teams and staff members rather than exclusively amongst the senior echelons.

  8. Helpful (1)

    You will get bored in a year or two, especially when you don't agree with your first line manager.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Developer in Sydney (Australia)
    Former Employee - Senior Developer in Sydney (Australia)

    I worked at Reserve Bank of Australia full-time (more than a year)

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    life work balance, you get RDO once a month. nice canteen.

    Cons

    you start to have concerns over the value of your work. Too much politics. Your value is not judged by your contribution but whether or nor your manager favors you.

    Advice to Management

    Measure your project with a tangible value proposal. make sure your first line managers are hands on, and not amateurs.

  9. Helpful (1)

    A Culture that Hides Incompetence with Extreme Red Tape and Politics

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Systems and Technology in Sydney (Australia)
    Former Employee - Systems and Technology in Sydney (Australia)

    I worked at Reserve Bank of Australia full-time (more than 3 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    The Pros are a free gym-like place, and a subsidised low quality food cafeteria, and an obsession with biological health.And before I forget, it is close to public transport.

    Cons

    Incompetent employees who never say no to their superiors are well regarded. 10 levels of management for 900 users. Red Tape exists over red tape itself. Higher managers work on 5 year contracts, making it over competitive and leaving superior management with no opposition due to the power to let someone go after 5 years. Lower plebs get 1 and 2 year contracts making them more at the mercy of higher powers. There will be no need to go through a real process to filter the good from the bad and letting someone go is as easy as a toilet leak. You just need to make it look like it was done over a real process.

    Advice to Management

    Grow some Balls, Find some Ethics, Say No to Wrong, Become Skilled, Listen to People, Stop Creating more Chiefs and Less Indians, Reduce VIP culture, Improve your performance plan process as its only to tick boxes. Stop recruiting full timers as fixed term hires.

  10. Helpful (1)

    Politics, bureaucracy and red tape

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee in Sydney (Australia)
    Current Employee - Anonymous Employee in Sydney (Australia)

    I have been working at Reserve Bank of Australia full-time (more than 3 years)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Good work / life balance, subsidised cafe, free gym, good focus on employees being healthy, a long history of traditional social and sporting functions, intelligent people, great superannuation benefits

    Cons

    An overbearing amount of politics, bureaucracy and red tape that diminishes productivity and creativity. A very siloed organisational structure with many people pushing their own agenda.
    Multiple technology stacks that cause disputes, disparate and even duplicate systems.
    Management reveal major decisions without consulting subordinates or consideration to the underlying impact. The culture chastises employees who flag things being mismanaged or running poorly. Promotions and performance reviews tend to be based on favoritism not work output. The remuneration is below market rates and it is unsettling working at HQ when the Bank receives a threat but the Bank does exercise paramount concern with employee safety. Very, very slow to respond to industry trends with process/system/product aeon lifecycles.

    Advice to Management

    Consult the people who actually do the work before finalising decisions.

  11. Helpful (2)

    Much More Cons than Pros

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Reserve Bank of Australia

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Good people to work with, RDO's, Free Gym like place, Good Health fund, Cheap cafeteria with mediocre food.

    Cons

    Worst culture I have ever seen. Dictating obsessive VIP culture that refuses change and is very one minded enforcing and overriding anything that does not fit their 1920 way of thinking. A place desperate for new blood for leadership. Different standards for different teams. IT is seen as purely a service and not an investment. The place is over-bureaucratic and the red tape and grey area make working very stressful. The work-life balance is team dependant and there are teams that work 6 days a week and very long weekday hours for a government job. Bonuses and Pay rises are almost non-exsistant and the Bank pays less than the market rates.

    Advice to Management

    Retire old blood. Bring in new blood. See IT as an investment, reduce over done red tape, reduce grey area, Deal with under resourced teams.

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