Bank of Canada Reviews | Glassdoor

Bank of Canada Reviews

Updated June 27, 2017
47 reviews

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4.1
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Bank of Canada Governor of the Board of Directors Stephen S. Poloz
Stephen S. Poloz
14 Ratings

47 Employee Reviews

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Pros
  • Good work-life balance; good benefits; solid defined benefit pension plan (in 9 reviews)

  • very collaborative CIO who is creating an open and transparent work environment (in 5 reviews)

Cons
More Pros and Cons

  1. Helpful (1)

    "Good if you're not so in to the teamwork thing."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook

    Pros

    Important work, exciting times. Very friendly people. Nice city. Building is being upgraded. Great internal mobility.

    Cons

    The organization can be bureaucratic and slow moving, and there is a very individualistic culture.


  2. "Project Manager"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Approves of CEO

    Pros

    Great people, challenging work, excellent training opportunities.

    Cons

    Too many of the non-economic stream openings are term contracts, which may lead to permanent positions but with uncertainties often beyond control of the employee (e.g. budgets, reorganizations).

  3. "If you can take the winter, it is a good place to work"

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

    I worked at Bank of Canada full-time

    Pros

    Good work-life balance. Generally open to research relevant for monetary policy. Generous travel budget.

    Cons

    Location. Ottawa winters are tough, and the city itself is a little sleepy. Management is too conservative

    Advice to Management

    Hire more PhDs. Continue to build the research environment. And focus not just on hiring but also retention.


  4. "Nation's central bank"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    -Good work life balance
    -interesting work

    Cons

    -slow days sometimes
    -not 100% clear how to get promoted


  5. Helpful (3)

    "Economist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Disapproves of CEO

    I worked at Bank of Canada full-time

    Pros

    Good work-life balance; good benefits; solid defined benefit pension plan.

    Cons

    Sometimes unclear what leads to promotion: policy work or research? Also, you have to live in Ottawa, which is a great city for families, but not so much for singles.


  6. "Good starting point"

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

    I have been working at Bank of Canada full-time

    Pros

    Very good environment to begin a career. Lots of learning opportunity

    Cons

    Lower salary than private sector. Sometime feels like the bureaucracy takes too long to complete projects.

    Advice to Management

    Review compensation packages and review structure for advancement


  7. "fun, interesting and challenging"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Ottawa, ON (Canada)
    Current Employee - Anonymous Employee in Ottawa, ON (Canada)
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of Canada full-time (More than 5 years)

    Pros

    The Bank is a great place to work. I find I'm asked to do interesting and challenging work. Managers are rigorous and demanding, but pretty laid back too. I've worked elsewhere in the government and in the private sector and this easily the place where people have the most access to higher management. There is some bureaucracy, but it's hard to imagine how it could be otherwise at an institution that has such important responsibilities.

    Cons

    If you are not an economist or a financial expert, you can't really hope to rise to the absolute top. There is a bit of a divide between the eco side and the rest of the Bank, and it sometimes feels like non-economists are second-rank citizens. It's not unexpected, given the Bank's role, but something to know if you're not an economist.

    Advice to Management

    Find ways to bridge the divide between the eco and non-eco side. I'm not sure what else to say, but I'm trying to reach the word count.

  8. "Surround yourself with skilled hard-working economists"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Economist in Ottawa, ON (Canada)
    Former Employee - Economist in Ottawa, ON (Canada)
    Recommends

    I worked at Bank of Canada full-time (More than 3 years)

    Pros

    -generally, although it varies by department/division, you are very busy and have excellent learning opportunities
    -progression stream offers competitive performance-based raises
    -promotion more tied to performance rather than seniority
    -decent crop of female leadership, for economics

    Cons

    -not all managers are great with people (they tend to promote good analysts, which is pretty necessary, teams can suffer when manager lacks basic interpersonal skills)
    -still a good deal of negative attitudes toward women, pregnancy, and parental leave (heard these aired openly on more than one occasion)

    Advice to Management

    Keep challenging young economists and giving them access to work with more senior economists - this is the best part about the Bank! But, perhaps pay closer attention to the management skills (not just economics skills) of you managers. Even if you love the work, managers who are unprofessional, poor communicators, and/or sexist can drive people away.


  9. "Assistant Director"

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

    I worked at Bank of Canada full-time (More than 10 years)

    Pros

    Interesting work
    Good opportunities for learning
    Progressive workplace

    Cons

    Too many levels of management
    Hard to get things done with the amount of bureaucracy
    Lots of people that don't add value


  10. "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Ottawa, ON (Canada)
    Current Employee - Anonymous Employee in Ottawa, ON (Canada)
    Recommends
    Positive Outlook
    Disapproves of CEO

    I have been working at Bank of Canada full-time (More than 3 years)

    Pros

    Excellent opportunity to work in a capital markets environment with the support and stability of a government position

    Cons

    If you don't have a masters, good luck moving up

    Advice to Management

    Stop driving out quality employees with education requirements


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