‘Founded in 1694, the Bank of England is the central bank of the United Kingdom. Sometimes known as the ‘Old Lady’ of Threadneedle Street, the Bank’s mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability.’

Employing around 3,600 employees and hosting a two year graduate program for General and IT roles, the Bank of England is rated in at number 52 in the Top 100 Larger Intake Companies To Work For in 2015/2016When it comes to taking-on graduates into the program, the Bank of England look for candidates with a 2:1 or above, who have strong analytical skills and are confident team-players. The effort and care that goes into the graduate programmes is evident through the strong ratings the Bank have received from grads; with an overall rating of 3.8/5, scores received for Colleagues (4.4) and Work-Life Balance (4.2) are particularly high. Let’s take a look at what Graduates with the Bank of England have to say about their employer…

1. Best and Worst Things about working for the Bank of England?

Best: The Bank is an exceptionally supportive environment in regards to training and personal development. The hours are always close to 9 to 5 and the expectations are typically in that region. The atmosphere at the Bank was very nurturing and accepting with a true focus on helping people achieve their best.
Associate, Structure Finance – Credit Risk at Bank of England
 
Best: Variety of work (data and policy work); laid back atmosphere; helpful colleagues all around the institution; flexible working; prestige.
Worst: Consistency on grad scheme across divisions is limited; rotations are limited.
Analyst, Payment Services at Bank of England
 
Best: Large amount of responsibility. You get the chance to work on important, newsworthy issues Intelligence of colleagues Interesting seminars, internal/external speakers. Good amount of exposure to senior staff at supervised firms.
Worst: Large workload. High level of technical understanding needs to be developed before you feel comfortable with all the issues.
Associate, Banking Supervisions at Bank of England
 

2. Average Working Hours

9am – 6pm

3. Average Graduate Pay

£29,000 – £31,000

4. Interview Tips

Application Advice: Don’t try to cut and paste from other applications; and think about making your answers original. Also, there is no requirement to have ANY banking experience; just need to understand the role of the central bank.
Interview Advice: The questions will be tailored to your skill set. The interview process is quite relaxed.
Analyst, Payment Services at Bank of England
 
Application Advice: Take an interest in the economy in general and financial services in particular. Ensure that you understand what the Bank of England does. Think about what role you would like to take up in the Bank and what issues you would work on in that role.
Interview Advice: Competency based so ensure you have good examples to reference. There are some more technical questions but they mainly concern the role of the Bank and broad questions about the financial crisis.
Associate, Banking Supervisions at Bank of England
 
Application Advice: Research which area and specialty you would like to enter so that you have a basic idea of which direction you want to start your career in.
Interview Advice: Come prepared with examples of previous work/study scenarios. Prepare a few of your own questions, as they will definitely ask you if you have any. This will show that you are interested in the role.
Graduate Data Scientist, Information Technology at Bank of England

Interested in finding out more about life with the Bank of England? Click here to read the full range of graduate reviews.

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Jazz Panesar is a Digital and Technology Apprentice at Severn Trent. Read Jazz’s story here.

1
Have your own questions prepared. It's your turn! As the interview comes to a close, one of the final questions you may be asked is "What can I answer for you?" Your interviewer will expect you to have...
2
Research the Company. Do your homework about the employer and the industry so you are ready for the interview question "What do you know about this company?"
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