Insight Day, Bank of England Review

The summer insight day at Bank of England was very informative, especially as it is an area many (including myself) know little about as the divisions can be confusing. We were given an introduction followed by a trading game around Open Market Operations (which was both interesting and fun) as well as a networking lunch and free drinks at the end of the day! After lunch, we also participated in a panel discussion to gain a better understanding of the Bank. It was nice to be able to network with both graduates as well as other people there.

The Bank comes across as an organisation that values individuals more so than comparable institutions such as investment banks. The Bank of England has a very genuine atmosphere (doesn't seem like the type of place where people would stab you in the back), the people seem like the real deal. Everyone seems to be very interested in what they do, very proud of what they do and find it rewarding to help others. Any question - someone will be happy to answer. I imagine if I was doing an internship, this would be a massive development boost. The people seem to take great pride in the idea of "public service" and making policy decisions for the benefit of everyone. They come across as very keen and motivated to make the right choices for the economic benefit of us all.

Similar to above, while not much guidance was necessarily needed, the people were very approachable and it was not embarrassing to ask anything. A lot of places say "there is no such thing as a stupid question" when we all know there is and people judge you for it, it didn't feel like that here.

The insight day was designed to provide an "insight" so not so much on assisting you in your degree. Nonetheless, it does help to have an awareness of these activities as it will help enhance your knowledge when studying certain degrees such as Finance & Economics. You will also develop general skills such as team work and communication through various activities.

The insight day was overall very well-structured, you really can't criticise it in that regard. The transition between various activities was pretty smooth.

As mentioned above, the atmosphere is one of the best I've been to personally. It's very academic, constructive, friendly and curious. I would add though while the insight day was very good, it would have been nice perhaps to have maybe had someone come down and explain/teach in depth about their division. It would also have been more awesome if we could have shadowed someone and/or had a tour (maybe even see the gold!). I'd also add that while what you learn seems amazing and unparalleled, the career progression seems a little more static than other organisations in the City. But regardless, there is a large emphasis on technical prowess and learning. Finally, the salary progression is very much lagging behind competitors and I know this can be a real deal-breaker for some people. It's about halve of a front office investment banking role and is also lagging slightly behind Big 4. While understandably it is a public sector institution, it would be nice if that could get a boost in the right direction with house prices and the cost of living being as high as it currently is. It is also worth adding though, you will receive a lot of perks as well as free sponsorship for further study (including Masters).

As mentioned, they seem to invest a lot in people. For example, you receive sponsorship for studying extra exams and a Masters if you want to become an Economist. They also have a library (apparently) where you can go and learn new things as well as regular training courses that you can go to if you are interested.

Very much so, was interesting to meet people and understand the culture better as it is very distinct from other organisations.

Absolutely - one of the best I think. People have a passion for what they are doing for the most part.

You are reimbursed expenses but not taxi fares. Email HR if you want to see the exact policy; it shouldn't cause a problem though.

Absolutely, plenty. It would have been nice to see more graduates or even someone slightly more senior but overall very good and the free lunch and drinks are always a boost!

We were only there one day but you are given two networking opportunities at lunch and then after the event.

Yeah, we found out a little bit about this during the panel discussion. The Bank seem to encourage having activities/hobbies outside of work which is good. They also seem to take the exact opposite approach to working hours compared to investment banks. The hours are relatively normal and you can work from home, flexible hours (this sounded great) and you can put in as much as your interest desires in terms of over time. Rest assured, you will not be worked into the ground. I guess that is the trade-off really.

I would definitely recommend at least going on an insight to get a better idea about the Bank!