Advanced Analytics Review

I have really enjoyed my industrial placement at the Bank of England. From the first day I started I have been given at lot more responsibility than I thought I would. I have been responsible for charts and text that has featured in both the Bank of England's quarterly bulletin, and also the financial stability report. Some of this work has then gone on to receive press coverage and featured in articles in the financial times. Also I have had the chance to meet and learn from a number of extremely knowledgeable people, and been constantly provided with new training opportunities to make myself more employable in the future. The only downsides have been a slight lack of opportunity of carrying out analytical work that would be more representative of the type I would expect to be working on were I on a graduate scheme.

All my colleagues at the bank have made me feel extremely welcome throughout my time here. Everyone at the Bank has at least a basic understanding of how the placement scheme works, which makes life a lot easier. I have never felt as though I have been treated as 'just a placement student though'. Once you are settled after your first few months, all colleagues treat you as they would any other permanent employee, and my manager has been extremely good at ensuring I feel valued.

My manager has given me lots of support throughout my time at the Bank and constantly ensured that I have been coping with he stresses of my role. There is also a mentoring scheme in place to ensure that if you do not feel you have that support you have someone else to go to. For the intake of placement students this year, they have all been assigned buddies to again ensure they receive all the support they require.

My work at the Bank of England has been very seasonal. For the first few months as I was settling in I did not have that much work to do, but I was provided with lots of material to read to enhance my understanding of the work my team was doing. Around each quarter end, particularly when there is an FSR, my workload increased substantially. You are however only expected to be working for 7 hours a day, and anything you do over this you can claim as overtime.

I have been very surprised by the amount of responsibility I have been given. I have been responsible for charts and text that has featured in both the Bank of England's quarterly bulletin, and also the financial stability report. Some of this work has then gone on to receive press coverage and featured in articles in the financial times.

The skills I have learnt whilst here at the bank I expect to help me massively in the future. I now consider myself to be an expert on Microsoft Excel after receiving a number of free training sessions, as well as using it every day. I have also been able to attend seminars and meetings about topics I had never before heard about which I expect will help me when I go back to University to complete my final year.

The general atmosphere depended largely on where I was sitting within the office, as during my placement I had several desk moves. Understandably, when sitting nearer to my manager and other senior managers, the atmosphere was a lot more serious. However when with he other recent graduates it was a lot more fun. Throughout though, it has been reasonably relaxed, I have never felt under pressure to stay at my desk simply to show my face.

The Bank of England has been running the placement scheme for a number of years and there are around 30-40 students in the intake each year. Because of this, there are experienced in dealing with placement students, and each student has a clearly defined role within the bank for the duration of the placement. This structure has made working here very easy.

I was able to receive a number of basic computer skills training courses for free from an outside company which the Bank pays for. There is a whole internet site dedicated to training within the bank on an enormous range of topics, all of which it is possible to get your business area within the bank to pay for if you can justify why you require specialist training in certain areas.

The Bank of England will always be at the centre of the financial sector in the UK and will require new graduates each year, as there is a much slimmer chance of it failing in comparison with any private companies. However in terms of opportunities to progress up the ranks in the bank, I have got the impression this would be a lot harder here than in a private institution.

The social aspect has been one of the highlights of my year at the bank. With around 40 of us here on placement, all with similar interests and living in and around London there has never been a lack of social events. Provided you make an effort to integrate with he other placement students and people in your team, you will have no problem ensuring you maintain a good social life whilst at the bank.

I lived at home for the year which made my time on placement a lot cheaper than it would have otherwise been, although my season ticket for the train was still very expensive. The other placement students I know have spent a wide range on rent, it is very dependent on the area of London you choose and whether you are able to find people to room with. Socialising in London is as expensive as you might expect, however it is possible to find cheaper alternatives and student deals.

There is always a lot going on in London, and so it is unlikely anyone on placement and the Bank will have any complaints with the nightlife, as there is a night to cater for anyone's interests going on somewhere in the city most nights. The fact that there is so many other placement students also makes organising a nightlife very easy.

There are lots of extra-curricular activities that you can take part in whilst on placement at the Bank of England. The Bank has a number of sports clubs which you can represent. It also does lots of charity work across the capital which it is very easy to get involved with. On top of this there are a number of societies run by members of the Bank which all employees are welcome to join.