Placement Year Review at Bank of England

The Role

1. To what extent did you enjoy your work placement or internship?

★★★☆☆☆☆☆☆☆

Rated 3/10

The job I was given was a year long project updating legal documentation within the department. The project itself was not very interesting or stimulating especially as the project was on an individual basis.

2. To what extent did you feel valued by your colleagues?

★★★★★★★☆☆☆

Rated 7/10

The team did their best to get me involved as much as possible however the work i was undertaking did not overlap with their work. I was treated like a full time employee and my work was seemed to be appreciated.

3. To what extent were you given support and guidance by management/your supervisor(s)?

★★★★★★★★☆☆

Rated 8/10

I was assigned a manager and a buddy whom I had regular weekly meeting and appraisals. The managers made time for me as and when I needed it.

4. How busy were you on a daily basis?

★★★★☆☆☆☆☆☆

Rated 4/10

Because my job was project based I could as much or as little as I wanted, however the project did not need a year to complete; it could have been done in 6 months. On the plus side I had time to go on the internet and go to the gym when I wanted.

5. How much responsibility were you given during your placement?

★★★★★★★☆☆☆

Rated 7/10

I was responsible for the running of my own project, a project that was deemed quite important by senior management. On a number of occasions I had to conduct meetings and presentations for senior management.

6. To what extent did/will the skills you developed, and training you received, assist you in your degree studies and beyond?

★★★★★★★☆☆☆

Rated 7/10

The skills I developed were largely general office and interpersonal, rather than anything technical. I did attend several courses and completed my ECDL (computer qualification).

The Organisation

7. What was the general atmosphere in your office?

★★★★☆☆☆☆☆☆

Rated 4/10

The atmosphere was quite quiet and sensible, and there dress code was usually suit and tie. There was however a dress down policy on a friday and you didnt have to wear a tie in the summer.

8. How well organised was the overall work placement or internship set up?

★★★★★★★☆☆☆

Rated 7/10

They had 15-20 students every year all starting and receiving training at the same time. Also placement students are on a 13 month contract so there is a 1 month hand-over period with the previous student.

9. In terms of personal training and development, to what extent did the company or firm invest in you?

★★★★★★★☆☆☆

Rated 7/10

I went on several courses (for example problem solving and microsoft outlook) and the Bank paid for me to complete my European Computer Driving License. Managers were happy for me to go on more if I could justify it.

10. What were the perks on your work placement?

★★★★★★★★★☆

Rated 9/10

• Flexi Time
• Subsidised Canteen
• Sports and Social Club
• Subsidised/Company Gym
• Financial Bonus
• Company Parties/Events
• Travel loan

11. How appealing are future employment prospects within the organisation?

★★★★☆☆☆☆☆☆

Rated 4/10

A better work/life balance than many other City Banks however the atmosphere is quite academic. The placement scheme does not exempt you from any stages of the graduate process.

Other Information

12. Was there a good social scene amongst any fellow placement students/colleagues?

★★★★★★★☆☆☆

Rated 7/10

Plenty of other placement students and young people within the Bank, and having the previous years placment students arrange nights out helps break the ice. There were plenty of nights out and birthdat parties etc.

13. What was the cost of living and socialising in the area you worked in?

★★★☆☆☆☆☆☆☆

Rated 3/10

The City of London is one of the most expensive areas in the country, and rent/travel can be very expensive. For a cheap night out there are plenty of wetherspoons bars.

14. What was the Nightlife like in the area you worked?

★★★★★★★★★★

Rated 10/10

Expensive but quality, plenty of choice and always something going on. Around Christmas lots of parties and some of them paid for by the Bank.

15. Were there many opportunities to get involved in activities outside of work?

★★★★★★★★★★

Rated 10/10

Loads of clubs, and teams to join both through the Bank and in the area. I joined a Rugby club and it was a great way to meet people and something to do at the weekend.

In addition to these questions, is there any extra information you would like to leave about your experiences on your work placement that other students may be interested in?

Working in London is a great, but expensive experience. Also working at the BofE is good placement because even though the job is dull, I didnt have to work too hard and there were plenty of perks.

Review 1/37 for Bank of England

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