FAQs
The following Frequently Asked Questions relate specifically to the Gap Year and Internship programmes. For more general questions about working at the Bank, please click here.
How much will I earn?
During the internship, postgraduate sponsorship scheme entrants and PhD interns will earn £85 per day. Undergraduate internships are paid £65 per day. The 2007 salary for sandwich students is £18,496. Gap Year temporary contract staff are currently paid £15,000 with an additional performance related bonus of up to £2,000 on completion of their contract.
Will I receive the full benefits package?
Given the temporary nature of the placements the full range of benefits are not available. Sandwich and Gap Year students will receive the core leave entitlement and the option of an interest free season ticket loan. Undergraduate internships and postgraduate sponsorship scheme entrants will receive a pro-rated leave entitlement only during the internship.
Where will I work?
The majority of the positions are based in our Head Office in Threadneedle Street, London.
How many vacancies are there?
Demand varies from year to year, but typically the Bank has recruited approximately 15 internships, 12 sandwich students, 20 Gap Year students and 12 PhD interns each year.
As a Gap Year student, are offers of employment subject to gaining certain grades in my exams?
Yes. Our minimum criteria is five GCSEs at grade C and above (to include English and Maths) plus three predicted or awarded A-levels (or their equivalent) in academic subjects. We recognise that many students will not have their A-levels results prior to the selection process, so our selections are based on predicted grades. However, we will contact your school/college for a reference for confirmation of what grades you expect to obtain/have obtained.
I want to apply for the Gap Year programme. Does it really matter that I have achieved or am expecting to gain a grade D in Maths/English?
Yes I’m afraid it does. We require at least a C grade at GCSE in both subjects.
Will the Bank help me find suitable accommodation if I relocate to London?
We are unable to offer relocation expenses or assistance with finding suitable accommodation. The exception to this is for PhD interns who will be reimbursed an economy flight to the UK plus an accommodation allowance of up to £100 per week.
What type of work will I be doing?
Internship students will work on an individual research project during the summer. Sandwich students will work as either a research assistant or project assistant. In addition, there are some IT support roles in our Banking Services area. Gap Year students will be working in a team responsible for day-to-day processing of work.
Do I have to choose a particular business area when joining the Bank?
No, we will allocate you to an area of the Bank which seems to be appropriate to your skills, experience and knowledge.