Project Assistant Review

My placement year at the Bank of England is one which I thoroughly enjoyed. To be able to contribute to the Bank's mission of promoting the good of the people of the United Kingdom is was a privileged and made it easy to see how the work I was involved in, had tangible benefits.

There were times in which I did feel the work I was completing was greatly appreciated and valued by my team, and that I was bringing tangible benefits to the team. However there were occasions when I felt my work and voice was disregard due to the fact I was only a placement student

I was given as much support as I needed throughout the year, with my colleagues always willing to spend time with me to solve any issues or challenges on projects or more generally in terms of my career development and future at the bank. I sought out and arranged a 'buddy' for my year of my own accord, but the Bank could be more proactive in helping you find and organising you to have regular catch ups with someone who you could speak to if there were any issues in your year.

On a day to day basis, the balance of work was the perfect level. I had enough to be getting on, and enough to see a large range different projects and workstreams, which expanded my knowledge of the Bank and my technical skills. There was also the chance to get involved in projects that weren't directly related to my job role.

This was one of the main benefits of my placement year role that I undertook, in that from the first day I was given a huge amount of responsibility, such as producing monthly reports for senior managers. Being part of a two person team within the more broader team, meant that there was no shying away from the work.

One of the main issues with the Bank's placement scheme, was that there was no specific job you applied for, and you applied to get onto the general placement scheme, with the Bank then allocating you in a specific division. This meant that I had no say in where I undertook my year and ended up being placed in a completely different role to the one I would have applied for given a choice and in a role with no relation to my degree. The Bank needs to vastly improve this and allow you more information on the role you are applying for as it could be something entirely different to what you intend to do for a future career. The Bank also needs to improve communication before you join, as I tried to contact the HR team months before my placement started to address concerns about the role I had been placed in, but could not get an answer or help.

The environment in the work office had a perfect balance of being relaxed enough that you were able to talk to the colleagues sat in close proximity to you, all the while that people got on with the tasks at hand. It ensured the atmosphere was not stifled and meant that ideas were bounced to and from colleagues if there were problems that needed to be solved.

As mentioned in a previous answer, there was a real lack of clarity, communication and organisation the placement scheme. It felt less like a placement scheme where I was provided tools and guidance into the work, and more of a case of being thrown in at the deep end, without even a job description. Due to the fact you do not apply for specific roles, it meant that for me, I ended up in a role I would have chosen not to do otherwise. However, even though the situation and role wasn't ideal at the start, by the end of the year, I truly valued the completely different skills that I gained on the year and it opened my eyes to future careers roles.

Throughout the year, there were plenty of opportunities to partake in training courses, ranging from basic through to advanced excel skills, presentation skills and more technical workshops for more specific job skills training. The Bank really does care about the individuals and tries to help you develop skills and as a person.

Very appealing. The full package of working at the Bank, including the pride you can have in your work, the work itself, the people you work with, and the pension offered make returning very appealing. However there are rules on promotions not being allowed if you have been in your current role less than two years, which do dampen the attractiveness of future career progression.

There was quite a close knit group within the placement students, in terms of events organised by ourselves outside of work. However, as it is quite a large organisation, it could become difficult to keep in contact as everyone was busy with their own work and projects to be getting on with in completely different areas of the organisation.

Being based in London, the cost of living is always going to be more than any other city in the UK. With the salary provided, against the cost of rent and living was a challenge. Socialising in pubs and bars around the offices were high, with average cost of a pint of ale around £5.50.

Surrounding the offices were a large selection of different bars, pubs and clubs which meant there was plenty to choose from. However, due to the cost of drinks and going out in the local area, it meant that as placement students, it was often a challenge to afford to experience the nightlife.

There was many opportunities to get involved in a variety of different activities, with a vast number of different networks to cater to any interests. There were sports teams to play for at any level, other networks to get involved in, meaning there was a real inclusive environment in the workplace and outside.