Bank of Canada Employee Reviews about "private sector"

Updated Jun 27, 2017

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4.4
90%
Recommend to a Friend
99%
Approve of CEO
Bank of Canada Governor of the Board of Directors Stephen S. Poloz
Stephen S. Poloz
54 Ratings
Pros
  • "Great culture, lots o opportunity and great work/life balance(in 13 reviews)

  • "Stimulating and challenging work environment, on engaging and critical projects with significant impacts on the Canadian Economy(in 13 reviews)

Cons
  • "Ottawa is not the best place to live especially if you are not accustomed to the cold climate(in 6 reviews)

  • "Lower salary than private sector(in 4 reviews)

More Pros and Cons
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

Reviews about "private sector"

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  1. "Colleagiate environment"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Contractor - Research Assistant in Ottawa, ON
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Bank of Canada for more than a year

    Pros

    - Very friendly and knowledgeable people - Access to a wealth of information if you want to learn - Good work-life balance

    Cons

    - Very little upward mobility as a research assistant - Pay is not as good compared to private sector (but this is compensated by the pros above)

  2. "Good starting point"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee 
    Recommends
    Positive Outlook
    No Opinion of CEO

    I have been working at Bank of Canada full-time

    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.

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  3. Helpful (3)

    "Great foot in the door; that is about it"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Analyst in Ottawa, ON
    Doesn't Recommend
    Neutral Outlook

    I have been working at Bank of Canada full-time for more than 3 years

    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.

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  4. Helpful (2)

    "Good place to work"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Analyst 
    Recommends
    Neutral Outlook

    I worked at Bank of Canada full-time for more than 3 years

    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.

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