“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 


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.




CAREERS BLOG: Ten tips for a graduate internship

UoY Careers Imagine the possibilities LARGE dark greenCareers blog written by Nicola Haydon, Graduate Intern: Marketing and Information Support, Careers

Just over a year ago I graduated with very little idea of what I wanted to do next. I had work experience in a range of different areas, but this meant that there wasn’t anything in particular that I had specialised in. Fast forward to the end of the summer, and I had secured a role as a graduate marketing intern in the University of York Careers team. Now I have come to the end of my contract I have a few tips to share if you are heading into a graduate internship…

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CAREERS BLOG: Top 5 tips for handling rejection

UoY Careers Imagine the possibilities LARGE dark greenCareers blog written by Nicola Haydon, Graduate Intern: Marketing and Information Support, Careers

Being rejected after a job interview (or anywhere in the job application process for that matter) is completely normal. Everyone has some sort of rejection story, and whilst it can hurt and knock your confidence, it’s important to bounce back and stay resilient so that it doesn’t affect your future applications. Here are five top tips for handling rejection:

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Careers events for Spring, Week 6

UoY Careers Note & Pen  Check out events for the week ahead. More at www.york.ac.uk/careers/events

Employer events

Skills sessions

  • Social Entrepreneur, Mon 8 Feb (Week 6), 4:00-6:00pm (Book online)
    This course aims to develop your understanding of the voluntary and not-for-profit sectors and examines what skills are needed to manage and lead within them.
  • The Law of Ideas, Wed 10 Feb (Week 6), 1:30-4:30pm (Book online)
    How can inventions or creative effort be protected by law?  Delivered by leading firm DLA Piper, this course provides an introduction to the concept of intellectual property and some of the fundamental rights that are protected.
  • Plan Envy-Idea generation: generating innovative business ideas, Thu 11 Feb (Week 6), 5:00-7:00pm, P/T/005 (Physics)

Workshops and talks

  • Working in the Voluntary Sector, Wed 10 Feb, 1:00-2:00pm, B/B/006
    This session will help you understand where there are paid opportunities in the sector versus voluntary positions, how you access jobs, and introduce how you can build relevant experience while you are still at university.
  • Inspiring Women in Business and Technology, Wed 10 Feb (Week 6), 6:00-8:00pm, P/T/006 (Physics)

Departmental Events



Careers latest news – Spring, Week 5

idea Latest news from Careers

Volunteer in the local community

We are recruiting student volunteers to work in local schools and community organisations during the summer term. Placements can fit around your timetable and will only take a few hours of your time each week. We have community placements in a range of organisations including heritage, conservation and public sector.
York Students in Communities and York Students in Schools are still open for applications until Sunday Week 5 (7th Feb)

@Work summer term team projects (for students from Education, English & Related Literature, History of Art, and Politics) open for applications on 1 February. Over 30 projects to get involved in across research, marketing, publishing, social justice, heritage and events.  Find out more on the @Work webpage
Look out for…
23 FebruaryWorking in… Advertising, marketing & PR / Health / Criminal justice. Find out what’s it like to work in these sectors by meeting York alumni and professionals. More info on the What’s on page.


Career events for Week 5

UoY Careers Note & Pen

Check out events for the week ahead. More at www.york.ac.uk/careers/events

Employer presentation/event

Skills course

Careers workshop/briefing

Departmental event

Careers events for Spring, Week 2

UoY Careers Note & Pen  Check out events for the week ahead. More at www.york.ac.uk/careers/events

Skills courses

Careers Workshop/briefing

Departmental event