Summer Intern in Monetary Analysis at Bank of England

Internship (1-4 Months)
London Central London and City
Review Date
£22,000 - £23,999
Banking/Finance Economics


The Role



The Role

Role Description

Got a specific project to work on during the 10 weeks. At the end I had to write a report (about 25 pages) and give a presentation (about an hour). I could also engage in some of my team's tasks not related to my project.

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

It was a very enjoyable experience and I am delighted I will be coming back.


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

I was receving constructive feedback from my managers on a regular basis throughout the internship. Many people from my team attended my final presentation and gave me good feedback afterwards.


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

I was given enough guidenance to know what I had to do, but at the same I was given freedom and encouragement to choose my own methods. On a few occasions when I got stuck with my project, my managers suggested possible solutions.


4. How busy were you on a daily basis?

I had enough time to complete my project, and attend public lectures / seminars / presentations that were of interest to me. I usually worked 7-10 hours a day, (plus an hour lunch break), and I was busy most of this time.


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

I believe I was given the right degree of responsibility. My project was neither crucial to the team's operations nor urgent, so I did not feel very pressured. But I knew it was useful and the team was interested in seeing my results.


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

I learned some new skills, e.g. computer programming, that I never had to use before. I attended a whole-day presentation skills training session and could then apply the skills in practice during the final presentation (1 hour) when I had to present my results to the team . I had an opportunity to attend many interesting presentations / seminars / discussions / interdepartamental meetings almost every day - this allowed me to get to know the Bank from the inside, and learn about the monetary economics in theory, but also how the monetary policy is run in practice. It also meant that I could see the big picture and find out what other teams/departments were working on.


The Organisation

7. What was the general atmosphere in your office?

There is an open plan office, but it is usually surprisingly quiet. Everyone is nice and supportive, and the team usually spends an the lunch break together. We went out together on Friday evenings a few times during my 8 weeks there.


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

The organisation by my team was very good and I knew from day 1 what my project was going to be. I feel the organisation by the HR was a bit less well-organised, even though my managers submitted my final evaluation on my last day, I had to wait a few weeks to find out if I was offered a permanent job. Also, some of the inductions crucial for the daily work at the bank (e.g. the one about using the bank's database and file-storage system) were quite late, 1-2 weeks after the start of the internship. Unlike in my other internships, the bank did not hold a 'welcome' or a 'farewell' reception for the interns.


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

I attended a whole-day presentational skills training, and the IT training. Almost everday there were some interesting seminars / presentations that I could attend. They were given both by the bank employees and by external researchers and academics. The Bank is one of the very few institutions that sponsors the whole cost of the postgraduate study (MSc), and also contributes to the PhD courses of its employees.


10. What were the perks on your work placement?

  • Subsidised Canteen
  • Subsidised/Company Gym

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

I got a job offer.



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

We used to eat lunches together in the bank canteen and often go out together after work.


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

Pretty expensive - what you would expect in London.


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

The Bank is located in central London with many pubs and clubs and restaurants around.


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