Graduate Entry/Internships
Interested students and graduates are asked to complete an online application, which also includes open questions. We are now closed for applications. Please read this page for further information and advice on our application and selection process.
The application form
The application process for Graduate Entry and Internships uses a standardised application form to allow us to asses candidates against the Banks competencies. There are six stages for you to complete before you can submit an application.
Register
The first page you will come to when you apply for a role is the “register” page. On this page we require you to provide basic information which allows us to contact you to let you know the outcome of your application. It is not possible to apply for more than one role using your login details so you must decide which scheme you wish to apply for before registering.
Equal Opportunities Monitoring
There is also an Equal Opportunities form which we would like you to complete to enable us to properly monitor our performance in recruitment as recommended by the Equality and Human Rights Commission. Any information you provide on this form is stored separately to your application and plays no part in producing any shortlist. We recognise that not everyone wants to disclose this information so under each heading you will have the option to “decline”.
Education
You will be required to provide information on your education, including the schools, colleges and universities you have attended and the qualifications you have received/been predicted.
If your academic qualifications were studied for, and awarded outside of the UK, please state the actual qualification and awarded grade/score (e.g. Baccalaureate; Abitur, etc) rather than providing a suggested equivalent to UK qualifications.
Scheme Specific Questions
The application form assesses you against our competency framework and, as such, the questions are designed to seek examples from your skills and experience to provide evidence of your suitability to work at the Bank.
It sounds obvious, but make sure that you answer the actual question asked when completing the form. Also, try to convey how your particular achievement is relevant to the work place and relates to the skills that are needed at the Bank.
It is important to show us that you are passionate about working at the Bank by demonstrating your knowledge of what we do, and being able to explain the areas you are particularly interested in. A simple technique to test the quality of your answers is to ask yourself the question “So what?”. If the point you are trying to make is not clear then you should rewrite the answer.
There is also a section which allows you to tell us of any additional skills you feel would support your application and be beneficial to the Bank which have not been mentioned in other parts of the application form. These include IT skills and qualifications.
Work Experience
If you have undertaken any work experience, record it in this section. Do not assume because it is not relevant to the work of the Bank that it is not of interest to us. Work experience can include voluntary placements and part time paid work, as well as formal placements you may have had. However, don’t worry if you haven’t got any work experience to list. Although useful, you don’t need work experience to get through to the next stage of the process.
Submitting
Finally, do proofread your application and consider your communication style. Writing is a very important skill at the Bank, so we need to see that you can express yourself clearly, concisely and accurately on your application form. If in doubt it is always best to write in a more formal style than to use any colloquialisms or informal terms.
Once you have completed these stages you must submit your application in order for us to view it. As a security measure, you will be asked to re-enter your password before you can do so.
We have a fixed deadline for applications for Graduate Entry and Internships. Applications are not assessed until this date has passed. As a result, candidates who apply when the recruitment window first opens may experience longer waiting periods. We will acknowledge receipt of your application and provide you with timescales for letting you know your progress. This commitment continues through the further stages.
The first stage
Analytical skills are highly important to graduate roles at the Bank. The written analytical exercise and a psychometric test form the first round of our selection centre process. You need to be successful at this stage in order to be invited to the next stage. The tests are held at our Head Office in London and cannot be done at any other location because we require all candidates to complete it in a consistent environment.
The written analytical exercise is specifically designed to assess your written and analytical capability, as well as the other competencies listed above. If you have an economics or finance background, we will also be assessing your technical knowledge. For all other disciplines, we will be looking for your understanding of the Bank’s role and responsibilities. There are two completely different tests: one for those with a background in Economics and/or Finance and one for those with any other discipline degree.
You will be given 90 minutes to complete your answer. We supply pcs for your use but also accept handwritten answers. Please make sure you tell us in advance of any special adjustments you require in order to sit the test – e.g. for software for any visual impairment, additional time or coloured paper for dyslexia, etc.
The psychometric test is a financial appraisal test which assesses your problem solving ability in a finance-related context. You can’t prepare for this test, so you don’t need to worry about it or think about it in advance!
The selection centre
If you meet the required standard in the first stage, you will be invited to attend a second half day assessment centre at our Head Office in London. Selection centres require a high level of staff involvement and, as we recruit from a number of universities, hosting on-campus selection events is not possible.
This selection centre has two components: an interview and a group exercise.
All candidates attending the selection centre will have strong academic results and will have performed well in the first stage. This means that we look beyond your performance in your degree in order to assess your suitability for a position at the Bank. The selection centre is designed to help us to develop a more complete picture of you and your approach to work.
The interview
Both the interview and group exercise are specifically designed to draw out evidence of your performance against certain “soft skill” competencies. We strongly advise you to prepare for this by thinking about your non-academic experience and achievements and be able to talk around such issues as team skills, interaction with others, organisational skills, time management etc.
The people interviewing you want to get the best from you – so try to relax, be confident and show them what you are capable of. On the technical side you should be prepared to answer questions about the Bank of England and its core purposes. We will also ask a number of technical questions – Economics based if you are applying for an Economics role, but otherwise more broadly around Finance and the Banking sector and the role of the Bank of England.
The group exercise
In the group exercise we are looking for evidence of your oral communication, interpersonal awareness, confidence and assertiveness and drive and determination. If you say very little, it is very difficult for us to assess whether you have the skills we require. Get involved in the conversation, even if it is just to ask questions to clarify your own and others’ understanding.
Applicants to our IT graduate scheme will sit the written analytical test.
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