Bank of Canada Employee Reviews about "private sector"

Pros

Very good environment to begin a career. Lots of learning opportunity

Cons

Lower salary than private sector. Sometime feels like the bureaucracy takes too long to complete projects.

Pros

-Job security (you have to try and lose your job if you're in a core function or supporting one) -Pace, and portfolio of work: It is not "government" work. It's quite busy but often manageable if you have strong communication skills. Work is interesting.

Cons

The following is my observation with my particular department. Recognition is a major weakness. Given the technical requirements of most of the work at the Bank, one would expect quality of findings, demonstrated subject matter expertise, and thorough, personalized knowledge sharing to weigh in on your performance evaluation. Instead, chatting up your manager, "selling" (boasting) your work with (unnecessary) team-addressed emails the only observational information your manager may consider. (I did not assume this; they have admitted this). IMO, annual performance reviews with mandatory tranches of employees does not inspire quality of work. You learn to adjust to it but it operates under the bias of the manager's style. Pay: If you're deciding between BoC, CMHC, OSFI, EDC, CDIC, private sector, the Bank is undoubtedly the poorest choice in this regard. Chances are, if you're interviewing with the Bank, you are a desirable candidate. There are better options elsewhere. This department has witnessed 66% turnover in my time here. You can't point causal with that but it's certainly worthy of concern.

Pros

Good people to work with. life balance and benefits are good in general

Cons

Management is poor at best. Wrong people running several departments in the Bank make difficult the job of people who know the job . Pay compared to private sector is pretty bad too. I left the bank making more than double tax free. This is how bad it is. Also unfair treatment on promotions.