Bank of England Economist Reviews | Glassdoor

Bank of England Economist Reviews

Updated 25 May 2018

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3.6
99%
Recommend to a Friend
81%
Approve of CEO
Bank of England CEO Mark Carney
Mark Carney
3 Ratings
  1. "Senior economist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Economist in London, England
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at Bank of England full-time for more than 8 years

    Pros

    Great work life balance, good analysis

    Cons

    Low pay, limited career opportunities

    Bank of England2018-05-25
  2. "Economist"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Economist in London, England
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of England full-time for more than 3 years

    Pros

    Interesting job, very intelligent people to work with, possibility to make an impact, many learning and development opportunities, good work/life balance.

    Cons

    Salary, slow career progression, admin and bureaucracy

    Bank of England2018-01-22
  3. Helpful (1)

    "Great job, poor pay framework and HR"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Economist in London, England
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Bank of England full-time for more than 3 years

    Pros

    Interesting work with smart people and the working conditions (in my area) are good - hours aren’t crazy, a lot of latitude to guide your own work and use technical skills in an appropriate way.

    Cons

    For all the efforts to modernise over the last few years, the organisation still has a long way to go. It’s extremely bureaucratic and slow. It’s still very hierarchical, so you tend to end up working way below potential. The pay framework is ostensibly based on merit but is apparently based on tenure - at least for progression through the lower scales. HR also have a tendency to change rules in their favour,... rewrite history to cover it up and then be unreachable, and deaf to complaints. This breeds unnecessary resentment that could easily be avoided.

    Show More

    Advice to Management

    Management don’t communicate very well with staff the reasons for decisions higher up in the bank.

    Bank of England2018-01-21
  4. "Good place for macroeconomists"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Senior Economist in London, England
    Recommends
    Disapproves of CEO

    I have been working at Bank of England

    Pros

    Public service; nice and motivated colleagues

    Cons

    Long hours culture seeped in post-crisis

    Bank of England2017-05-30
  5. "Good public sector option"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Economist 
    Recommends
    Positive Outlook

    I have been working at Bank of England full-time for more than a year

    Pros

    Better work life balance than private for reasonable pay on entry. Talented colleagues and generally good atmosphere.

    Cons

    Poor pay progression. Sometimes hard to bring about change in a large organisation. Not very responsive IT.

    Advice to Management

    Don't stretch the budget so tight. Hire more admin staff. Keep up the internal job market.

    Bank of England2016-05-16
  6. Helpful (1)

    "Great place to develop, but can be bureaucratic"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Economist in London, England
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Excellent secondment opportunities, very easy to take time off. great indoor facilities, interesting work, access to impressive people.

    Cons

    Work while interesting can often have no ultimate impact. Lots of good staff but also lot of dead weight. Lots of structural change but poorly implemented. Slow career progression if not political.

    Advice to Management

    When you make major changes consult staff and have a plan for implementation.

    Bank of England2014-09-15
  7. "I didn't realise how good the people at The Bank were until I left"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Economist 
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of England full-time for more than 8 years

    Pros

    Willingness to let bright people try new things, areas of work.

    Cons

    'Bank speak' The Bank's style of drafting is very clear, but it should be possible to step outside this narrow framework.

    Advice to Management

    nn

    Bank of England2012-08-24
  8. "very enriching from a professional development perspective, not very remunerative"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Economist in London, England
    No opinion of CEO

    I have been working at Bank of England

    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.

    Bank of England2012-05-01
Found 8 reviews