“How can I gain work experience with the Bank of England?”: Part One


What they can offer students

On the 8th November this year, The Bank of England came onto campus to deliver a talk on their company culture and recruitment tips. Our Careers Consultant, Erica Rowell, went along to the talk and compiled some of the information that was given into a two-part blog for those who couldn’t attend this insightful event. Below, in Part One of her blog, Erica talks about the different kind of empound-414418_1920ployment opportunities they can offer students.

 

The Bank of England offers a number of internships and graduate programmes.  Here are some of those programmes:

  • First year internship (6 weeks duration)
  •  Penultimate year internship (8 weeks)
  • Postgraduate internship (8 weeks)
  • Industrial placement (13 months)

All of the students on these internships are inducted together as a cohort and treated as part of the team they are allocated to. There are no special projects and interns are expected to ‘hit the ground running’ and work alongside staff. They do have support systems in place including a mentor and line manager; however there is no financial or other support from the Bank for accommodation while on an internship.

The first and penultimate year internships are suitable for students with a degree in any discipline. The Postgraduate internship is for students with a degree (1st class or 2:1) in Economics and/or Finance.

For the first year internship the Bank will look at UCAS points gained. For the penultimate year the Bank will want an update of grades achieved so far. There is a free text box if you need to explain why current grades do not match the predicted class of your degree.

The Industrial Placement offers opportunities as:

  • Research Assistant – will gain first-hand experience in the Bank’s core work. Working alongside economists on a wide range of issues, and gain experience of briefings and produce charts and tables for Monetary Policy and Financial Policy Committee. Will also manipulate economic and financial data for research projects.
  • Project Assistant – are based in either Banking Services or the Programme Office and can work in a variety of roles, including assisting with project processes, supporting testing, trialling and implementation, as well as senior team members.
  • IT Associate – will be part of the Technology Division, working in the Application, Development and Maintenance area or the Infrastructure Group. Experience will include contribution to the success of challenging projects and valuable hands-on experience from technical experts.

 

Graduate Programmes 

Streams:

Operations – generalist scheme, and is open to Graduates from any degree discipline. This stream opens up opportunities in many areas across the Bank, including Banking, Notes and Central Services.

Economist – need to be studying an Economics or Finance undergraduate degree. This stream will develop your skills at the heart of the UK economy.

Risk – this stream develops Graduates to provide technical expertise in areas such as stress testing, the Help to Buy scheme, or wider market risks. They work within areas such as Supervisory Risk Specialists. Strong analytical skills are key for this stream.

Data – these roles are vital for collecting, compiling and analysing data for publication. The Bank looks for students studying a quantitative degree, such as Maths or Engineering. These roles are in areas such as Advanced Analytics, Statistics and Regulatory Data and the Chief Data Office.

Technology – the Technology division enables everything at the Bank, including supporting systems like the Real-Time Gross Settlement (RTGS), enabling the UK financial services sector to transfer trillions of pounds in payment transactions every year. You don’t have to be studying a Computer Science degree –they are also looking for students with an interest in Technology. Based on your interests and skillset, you will be matched to a pathway, such as: Developer, Infrastructure, Service Management or IT Security.

Supervision – open to Graduates from any degree discipline, you’ll be at the heart of the Bank’s work to protect the stability of the UK’s financial system by supervising financial institutions. You could be supervising insurance companies, international banks, building societies, key financial infrastructure or UK banks of all sizes. Supervision puts your analytical, problem solving and professional skills into practice; you will work closely with senior internal and external stakeholders to identify and mitigate potential risks before they can have an adverse effect on the financial system and the public.

Postgraduate – if you are studying for a Masters degree in an Economics or Finance discipline and are looking for a Graduate position, this is the stream for you. These roles are in research-focussed areas such as Monetary Analysis, International or Markets.

Actuarial – qualify as a Fellow of the Institute and Faculty of Actuaries (Enjoy a salary increase each time you pass an exam!)

All entrants take the Central Banking Qualification, and then study towards a postgraduate certificate in central banking and financial regulation – accredited by Warwick University. It is a 27 month programme and cohorts of entrants are grouped together for the whole of the programme for study days. These take place in the Shard, London.

There are approximately 150 internship/graduate programme places and over 1000 applicants. There are fewer applications for the economic stream.  Also, if you apply for this stream and are not successful the Bank may recommend you joining an alternative application stream.

Applications for the graduate stream closed on 13th November 2017, however the internships are open until mid-January 2018.

 

 

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Avoid those awkward questions this Christmas!


present green Careers blog written by Irena Zientek, Operations Manager: Information & Engagement, Careers and Placements

On Christmas Day, after the turkey has been eaten, the presents have been ripped open and you’re recovering from too much pud, you can slouch into the sofa and breathe a sigh of contentment.

However, the Christmas vacation isn’t all about groaning at Christmas cracker jokes and watching festive celebrity editions of Pointless. It will probably bring you some slightly less seasonal activities too – you might have course work to complete or revision to begin. You may also have to fend off those tricky questions from parents, aunts and uncles. You know the ones – “what are you going to do after you finish at University?”, “have you started applying for jobs?”

Make time this vacation (before Christmas takes over) to take some positive steps, so you can answer those questions with confidence!

Unsure what career is for you?

Start to Get ideas from the web page of the same name! Our Career planning info sheet has lots of exercises and resources to help – you don’t need to look at them all, but there should be something useful for you to try.

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Guest blog: 6 ways to make the most of your final year at university


 Guest blog written by Bridgewater Graduates

Those first few years at the University of York do fly by and before you know it, the all-important final year arrives. Your final year is a tough one filled with harder assignments, dissertations and exams that could have a big impact on your future. On top of all this, you’re probably worrying about what you are going to do next year!

Take a deep breath because final year doesn’t have to be as scary as it seems. To really make the most of it, you should:

Stay focused

You know that this is an important year and if you want to end it with a fantastic degree classification, you’ll have to step it up and stay focused. Final year is more about individual studying and research. You can’t rely on just your lecture notes carrying you through.

The key is to get organised (which is easier said than done for some of us). Say goodbye to the all-nighters and make a plan that gives you plenty of time to hand in your assignments. If you’re organised, you’ll really be able to perform at your best.

Remember, at the end of the year you’ll want an impressive degree grade to show off to potential employers.

Have fun

There’s more to university than studying. The partying doesn’t have to stop in your final year and getting/staying involved in social events, sports clubs (bring on Roses!) and activities is important. Not only are these things fun for you, but employers like to hear about your hobbies and interests on your CV.

Find the balance

Your final year is the perfect time to start practising your work-life balance. Too much partying will have a negative impact on your grades, too much time shut up in the library will leave feeling bored and miserable.

By organising your days and increasing your productivity, you’ll be able to get out and enjoy your evenings.

Tackle the big decisions

There’s no point burying your head in the sand, your time at uni is coming to an end. The big question that every final year has to face is, what’s next?

If you haven’t made a decision yet, it’s time to think about your career options. If you’re struggling to decide what direction you would like to go career-wise or need help getting started, visit your university careers department and have a chat with an advisor. You can also try taking a personality test to see what types of careers suit you.

Find out what employers want

Your degree means that you can apply for graduate jobs, but employers want to see so much more than that. What you’ll need to demonstrate are the transferable skills you’ve developed during your time at university, like the ones on this soft skills list.

To get a better idea of what skills employers are looking for, start browsing some relevant job adverts early. If there are any desirable skills that you need to work on you’ll have time to do it in your final year.

Gain work experience

Your work experience will help you to stand out from the crowd when it’s time to apply for graduate roles. Make an effort to get some relevant work experience now, and you’ll reap the benefits later.

This article was written by Bridgewater Graduates who offer sales, management and a variety of other commercial graduate jobs with market-leading businesses across the UK and Ireland.

Graduate scheme or graduate job – or just confused?


We’ve  had a busy few weeks in Careers and Placements running our careers fairs,  and responding to a wide variety of questions.

One thing has stood out – some of you are feeling slightly panicked at the thought of grad scheme applications, and worried about missing out on the opportunities on offer right now or being left behind in the task of securing a graduate position.

If you are interested in a graduate scheme,  a placement or internship with one of the major recruiters, now is the time to be doing your research and making applications. The recruitment process for many large organisations has started, and the earlier you apply the better, for what is often a long recruitment process that runs right through into Spring before job offers are made.  We have lots of help and support available check our website or come and have a talk to find out how we can help.

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CAREERS BLOG EXTRA: A little something for Hallowe’en!


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Professor Ben D Penn (for those who remember him!) and friend get into the Hallowe’en ‘spirit’

Trick or treat?!  

As Hallowe’en’s witching hour approaches, it’s time to gather around the flickering fire and chill your blood with some truly ghastly horror stories, courtesy of our resident ‘ghost writer’!

Our first tale of terror…

You’re on your own. There’s no one around – the house is eerily deserted. The night has fallen and, as the wind whistles down the chimney, you feel the icy hand of fear clutching at your heart. You’re all alone and fearful for your future.

All your friends are busy applying for graduate jobs, but you’ve not even started thinking about life after uni. Argh!

How about another spooky story?

They stare at you with a keenness in their eyes that makes your heart beat faster. The trickle of sweat pricks your forehead and you breathe harder, not knowing what to do or say. You fear them, convinced they’ll pull you apart mercilessly. How can you escape?

The interview panel are asking questions you don’t have the answer to – can you talk about a time when you’ve had to use creative thinking in a problem solving situation? Argh!

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Guest blog: Why do a placement?


 Guest blog written by Nicole Ell, Graduate & Placement Recruitment Coordinator, Nissan

Undertaking a placement is a big decision for some, and an obvious choice for others.

It offers you the chance to gain valuable experience spending time working for an employer and carrying out duties or tasks as any other employee of the company would. Arguably the information gained and skills learned whilst on a placement can be as important as anything you will have learned in education and it is a fantastic opportunity to put that theory into practice. Good quality placements usually offer set objectives for you to achieve and provide an appraisal or other feedback at the end.

The benefits of a placement are endless, with more and more people finishing university with a 2.1 or above, a placement is a great way to get a head start in our competitive job market.

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Winning CVs and applications


Careers blog written by Tricia Raxworthy, Careers and Placements

We know that applying for jobs can be a time-consuming, and at times dispiriting business.  But a little extra time spent onjeune-femme-poste-de-travail your CV and application can be all it needs to get you an interview.

Log into the VLE and have a look at our CV guide – with tips on what to include and different types of CV.  Prospects also has a helpful guide on what to include in your CV.  (This resource includes a personal profile in your CV, but this is optional so only do this if it works for you.)

It is tempting to send off lots of applications, but it’s more effective to spend the time on a few high quality, well-tailored, applications than lots of generic ones.  Preparation is key – take time to research the organisation and the job, and to reflect on your experience and skills (including your degree and time at UoY), before you start an application, and check out this guide on what to include.

We’re always happy to give you feedback on your CV or application – book a CV review (term time) or an advice appointment (vacation), or if you’re away from York just email it to us via Careers Gateway and one of the careers consultants will have a look at it for you; often it’s just a case of a couple of tweaks to make more impact.