Reserve Bank of Australia Reviews | Glassdoor

Reserve Bank of Australia Reviews

Updated April 19, 2017
33 reviews

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Full-time Part-time

3.4
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Glenn Stevens
16 Ratings

33 Employee Reviews

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  1. "Review"

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

    Pros

    Great learning environment to be in

    Cons

    Slow promotion time after graduate program


  2. "Conservative but good work/life balance"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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.


  3. "Great training"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Analyst in Sydney (Australia)
    Current Employee - Senior Analyst in Sydney (Australia)
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    It's a great place to work straight out of uni. You learn a lot, get a lot of guidance from management when you start out, and there's good training and benefits. It's also great to work with such intelligent and friendly colleagues.

    Cons

    The work doesn't suit everyone - it can be quite repetitive from month-to-month (depending on your role), and there is limited autonomy, even for people who have several years of experience. While I really identify with the organisation's values and goals, as a junior individual in such a large organisation, it's often hard to see the impact of my work. So the work is intellectually stimulating and interesting, but not always satisfying. There would be no negative consequences if my job didn't exist...

    Advice to Management

    If you want to retain staff, you have to give them some responsibility and autonomy, and positive feedback!


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  5. "Cadet"

    Star Star Star Star Star
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Interesting work and great work life balance

    Cons

    Limited progression opportunities and sometimes frustratingly slow workflow


  6. "Not a good place to learn or grow"

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

    I have been working at Reserve Bank of Australia full-time

    Pros

    - Great Benefits and good hours. The people are very intelligent and more often then not they are willing to help you out.

    Cons

    The work is not very interesting or very challenging. Within the IT space there is no transparency and the everyone in management is about managing upwards. Very insular culture

    Advice to Management

    Start looking at delivering real value to the business


  7. "Great place to work!"

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

    Pros

    Great people with a common goal - to succeed.
    Environment is friendly and there is always support when you need it.

    Cons

    Can't think of any at this stage.


  8. Helpful (2)

    "Great place... if you fit in"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Business Analyst in Sydney (Australia)
    Former Employee - Senior Business Analyst in Sydney (Australia)
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Once I settled in I loved it here
    Benefits include a
     discounted cafe,
     on premise gym with discounted classes,
    central location,
    professional working environment with very smart people,
    great lunches and catering

    Cons

    VERY strict hierarchy
    Don't expect results straight away... or ever
    A strong culture that doesn't easily permit challengers
    A 2 layered system - economists and peons
    Bullying in some areas that is not dealt with (or is dealt with by following processes that don't resolve issues)
    Strict salary progression. You can get market rate when you come in but no chance to negotiate even if you are a top performer. If you get promoted prepare to be replaced by someone who earns more than you.

    Advice to Management

    Loosen up... economists are just people
    Recognise and deal with bullies directly
    Review salaries in light of relativities
    Continue with the cultural changes you're making


  9. Helpful (5)

    "Many Elephants in the room"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Sydney (Australia)
    Former Employee - Anonymous Employee in Sydney (Australia)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Reserve Bank of Australia (More than a year)

    Pros

    Great for cadets/graduates who need the experience to break catch 22. However, do not expect to learn much while you are at the RBA. Majority of staff are senior by title only (the first Elephant in the room).

    Cons

    To sum up others' reviews - it's a toxic workplace. (the second and biggest Elephant in the room).

    Advice to Management

    Information provided up the management chain is manipulated on a daily basis, hiding the real picture. (the third Elephant in the room).


  10. Helpful (2)

    "Good work/life balance but very conservative"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Sydney (Australia)
    Former Employee - Anonymous Employee in Sydney (Australia)
    Neutral Outlook
    No opinion of CEO

    I worked at Reserve Bank of Australia (More than a year)

    Pros

    Excellent work/life balance and flexible work arrangements. The bank also has an excellent intern/grad experience programs. There good personal and professional development programs offered to all levels of employees. Good employee rotation policy supporting employees' exposure and experience to diverse roles. If you want to learn anything about the economy, info-graphics, economic systems or English grammar (no jock), this is the place.

    Cons

    Very conservative culture that makes it difficult to implement a change that is meant to bring improvement. It is a cliquey environment which it is very difficult to penetrate, employees are often promoted or moved to different roles based on ulterior agenda rather than professional merits. some departments suffer high turnover as a result. Beaurocracy could get very frustrating as managers spend too much time on trying to get grammar and punctuation comply with the Bank's standards (due to freedom of information laws that can get any of those documents made available to the public). Even worse, information that is communicated to executive management is often filtered and altered.

    Advice to Management

    Be more open to feedback from the foot soldiers on the ground. Pay better attention to the people you appoint into key roles, their technical skills, and in particular their people skills. Make sure the information you receive from the layers beneath you is authentic. Respect your employees.


  11. Helpful (3)

    "Test Manager"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook

    I worked at Reserve Bank of Australia full-time

    Pros

    Great co-workers, some very sincere and caring managers

    Cons

    Sensed corruption and special deals in senior management levels, HR seemed to completely ignore all these things

    Advice to Management

    Care for your employees, guide their careers


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