At a Glance
- Tasks: Gain hands-on experience in economics and finance at the UK's central bank.
- Company: Join the Bank of England, a leader in financial stability and policy.
- Benefits: Earn £25,250, enjoy hybrid work, and access a pension scheme.
- Other info: Inclusive culture with diverse perspectives and excellent networking opportunities.
- Why this job: Develop analytical skills while contributing to impactful economic projects.
- Qualifications: Studying an undergraduate degree with 50% economics or finance modules.
The predicted salary is between 25250 - 25250 £ per year.
About the programme
This is a 13 month programme designed for undergraduates with a placement year built into their course.
Fact box
- Length of contract: 13 months
- Start date: End-July
- Location: London offices (hybrid)
- Salary: £25,250
Is this route for you?
This programme could be right for you if you are:
- Keen to learn about what we do and gain practical experience
- Eager to gain a unique insight into the workings of the UK’s central Bank
- Looking to build your network and find out more about graduate opportunities at the Bank
Entry requirements
To apply for the Industrial Placement Programme you must meet the below entry requirements:
- Be studying any undergraduate degree that allows you to do a placement year (starting from next summer).
- Expecting a 2.1 degree classification. You must not already have a degree.
- Your degree must contain at least 50% modules in either Economics or Finance.
- Achieved 120 UCAS points from 3 A-Levels (or equivalent).
What to expect
We’ve designed this programme to help talented people gain valuable work experience at the heart of the UK’s financial system.
First of all, we’ll introduce you to the different types of work we do. Then, you’ll work in a team, getting involved in our policy, research and operational work. You’ll also attend regular training and events with your fellow Industrial Placement colleagues.
How you could develop
If you\'re studying an economics or finance degree, then this stream might be ideal for you. You will have the opportunity to support projects that feed into policy discussions and processes, working with data, applying economic judgment, and developing analytical skills.
The skills you could develop include:
- Strong analytical and numerical ability
- Economic and financial research
- Attention to detail
- Clear written and verbal communication
- Familiarity with data tools (e.g. Excel, Python, R)
If you apply to the Data or Economics stream, you will need to complete an online Excel test as part of the assessment centre.
What we offer you
In addition to your salary you will be enrolled on to the Bank of England pension scheme.
Our Approach to Inclusion
The Bank values diversity, equity and inclusion. We play a key role in maintaining monetary and financial stability, and to do that effectively, we believe we need a workforce that reflects the society we serve.
At the Bank of England, we want all colleagues to feel valued and respected, so we\'re working hard to build an inclusive culture which supports people from all backgrounds and communities to be at their best at work. We celebrate all forms of diversity, including (but not limited to) age, disability, ethnicity, gender, gender identity, race, religion, sexual orientation and socioeconomic status. We believe that it’s by drawing on different perspectives and experiences that we’ll continue to make the best decisions for the public.
For most roles where work can be carried out at home, we aim for colleagues to spend half of their time in the office, with a minimum of 40% per month. Subject to that minimum requirement, individuals and managers should work together to find what works best for them, their team and stakeholders.
We are proud to be a member of the government’s Disability Confident Scheme (DCS). We are committed to creating an equitable interview process for disabled candidates through our membership of the DCS and this means we guarantee progression to video interview for disabled* applicants who meet the minimum criteria for the role. If you wish to apply under this scheme, please select \'Yes\' to the DCS question at the end of the application form. We understand, however, that not all applicants with a disability may wish to apply through this scheme, and we fully respect that choice; you will still be fully supported with any support or adjustments you may require.
As we are an equal opportunities employer, we are committed to providing adjustments and support to disabled applicants throughout the recruitment process. Should you require support with completing your application and require any adjustments for this (even if you do not wish to be considered under the Disability Confident Scheme), please contact the recruitment team at BOEadditionalsupport@penna.com who will work with you to provide the support you require. Please be aware that we may need to ask for more information about your disability so that we can provide the necessary support.
*Disability includes but is not limited to visual and hearing impairments, mobility impairments, autism, ADHD, diabetes, epilepsy, dyslexia, dyspraxia, mental health conditions, speech impairments and major illnesses such as cancer and MS.
National Security Vetting Process
Employment in this role will be subject to the National Security Vetting clearance process (and typically can take between 6 to 12 weeks post offer) and the passing of additional Bank security checks in accordance with the Bank policy. Further information regarding the vetting and security clearance requirements for the role will be provided at offer stage for successful candidates. Information about how the Bank processes personal data for these purposes, is set out in the Bank\'s Privacy Notice - https://www.bankofengland.co.uk/legal/privacy
The Application Process
Important: Please ensure that you complete all details in the application form including education, work history and all job specific questions. Your application will not be considered if all mandatory questions are not fully completed. Please also ensure you have uploaded a copy of your CV for eligibility checks.
The assessment process will comprise of 4 stages: online application, situational judgement test, video interview and a virtual assessment centre.
Industrial Placement Programme - Economist (London) in City of London employer: Bank of England
The Bank of England offers an exceptional opportunity for undergraduates through its Industrial Placement Programme, providing a unique insight into the UK's central banking operations while fostering a culture of diversity, equity, and inclusion. With a strong emphasis on employee development, you will gain valuable analytical skills and practical experience in a supportive hybrid work environment located in London, alongside competitive benefits such as a pension scheme and regular training events.
StudySmarter Expert Advice🤫
We think this is how you could land Industrial Placement Programme - Economist (London) in City of London
✨Tap into University Career Services
Your university’s career services are a goldmine for placements in banking and financial services. They often have direct connections with top firms and can help you land internships like the one at Bank of England. Don’t miss out on career fairs and employer presentations – make the most of these opportunities!
✨Get Involved with Finance Societies
Join or become active in finance and investment societies at your uni. These societies often host networking events and workshops that can connect us with potential employers. Plus, you’ll pick up valuable insights and skills while meeting like-minded peers!
✨Attend Industry Events and Conferences
Keep an eye out for finance-related events and conferences in your area, especially as they’re great spots to meet professionals in the industry. Look for events that specifically focus on banking or investment, as they often lead to placement opportunities, including roles at Bank of England.
✨Tailor Your Networking Approach
When you’re networking, be genuine and specific about your interests in banking. Use platforms like LinkedIn to connect with professionals, and don’t hesitate to reach out to them for advice. If you’re targeting a placement at Bank of England, mentioning it during chats can set you apart and show your enthusiasm!
We think you need these skills to ace Industrial Placement Programme - Economist (London) in City of London
Some tips for your application 🫡
Highlight Your Academic Achievements:In the banking and financial services sector, your grades can really make a difference. Make sure to include your latest academic results and any relevant coursework, especially if you’ve studied finance, economics, or related fields. We love seeing strong performance in quantitative subjects!
Showcase Relevant Experience:Even though this is a placement, having some experience—like internships, part-time jobs, or university finance clubs—can set you apart. Talk about any finance-related projects or roles you've held, and quantify your achievements where possible. Think of tangible skills you gained that are applicable to the role!
Tailor Your CV to the Role:This isn’t a one-size-fits-all situation. When crafting your CV, make sure to tailor it specifically for the role at Bank of England. Highlight skills like analytical thinking, attention to detail, and any software proficiency—like Excel or financial modelling tools—that could be relevant. We want to see that you’re ready to jump right in!
Craft a Convincing Cover Letter:Use your cover letter to express your motivation for pursuing a placement in banking and financial services at Bank of England. It’s a great chance to show your passion for finance and your eagerness to learn from industry professionals. Share why you think this setting is perfect for your personal and professional growth!
How to prepare for a job interview at Bank of England
✨Mastering Financial Fundamentals
Since you're diving into the banking and financial services sector, brush up on the basics like financial ratios, market trends, and key economic indicators. Be ready to tackle questions that test your understanding of these concepts — they might even throw in a case study for you to solve on the spot!
✨Polish Your Analytical Skills
Analytical skills are crucial in banking, so prepare to demonstrate yours. You could be given hypothetical scenarios involving data sets or client portfolios during the interview. Practise walking through your thought process clearly — showing how you approach problems will impress the interviewers at Bank of England.
✨Highlight Your Willingness to Learn
As this is a placement, they will want to see your eagerness to learn and grow in the industry. Share examples from your studies or any projects where you showcased your ability to pick up new skills quickly. This will show that you're adaptable and ready to tackle real-world challenges.
✨Showcase Your Passion for the Industry
Let your enthusiasm for banking and financial services shine through! Discuss recent news, trends, or developments that excites you, especially those relevant to Bank of England. This will not only demonstrate your knowledge but also your genuine interest in the role and company culture.
