Applications are open for our 2023 Internship for undergraduates.
We are looking for students from a Black/Black Heritage background who are keen to gain experience and contribute to work directly impacting the UK’s economy.
This programme offers an excellent opportunity to gain experience and contribute to work directly impacting the UK’s economy. You will experience a bespoke development programme including mentorship, a comprehensive induction to the Bank, through to a range of talks and networking events. Our supportive and inclusive work environment will offer lots of opportunities to develop your skills.
If successful in receiving an offer to the Black Future Leaders Sponsorship Programme, you will be awarded with funding of at least £5000 towards living costs for 1 year at university (2023/24). You will also be offered the opportunity to join us next summer on a 6-8 week paid internship depending on your year of study (6 week for first year, 8 week for penultimate year).
Who are we looking for?
We’re looking for students from a Black/Black Heritage (including mixed) background with a household income of less than £50,778 a year. You will need to be in your first or penultimate year at university and be working towards a 2.1 degree classification.
If you are eager to learn, share our purpose and genuinely motivated to work for us, we would love to hear from you. We are looking for people who are collaborative, open to diverse ideas, quick learners and able to set their own targets.
Before taking the step to apply for one of our Future Talent programmes, why not find out if they’re right for you? This isn’t a test, but you can use our short questionnaire to find out.
Take the questionnaire Opens in a new window
The first stage
This is your first step, and it starts with a short registration section. This will make sure you’re eligible for the programme you’re applying for, and it could save you a lot of time.
On the application form you’ll be able to tell us about your education and work experience.
For applications to the Graduate Development Programme, you will need to select a stream of the programme to apply for. Take a look here for more guidance on your options.
Please ensure you’ve read the application criteria under Our Programmes before applying. You’ll be assessed based on your year of study and, if you join as an intern or Industrial Placement student, you might even get to convert to the Graduate Programme or further internships.
A note for international applicants: to convert your international qualifications into UCAS points for our application form, please use this online toolOpens in a new window. When submitting your application please summarise your qualifications in the free form text box at the end of the application form.
You will be required to complete a Situational Judgement Test. During this test, you will be presented with various scenarios that reflect working life at the Bank of England and for each one you are asked what you would do. Through this test we are measuring how closely you are aligned to our culture and ways of behaving, and therefore how good a fit you would be for a role with us.
For a thorough guide to these tests, as well as advice, please view our guidance documentOpens in a new window.
Next you will be asked to answer five questions using our video interview portal. We will be looking at your compatibility with our values, knowledge of what we do and the climate in which we are operating, as well as your reasons for applying to our programme. In preparation think about what your key skills and strengths are, examples of when you might have demonstrated these, and how they might be relevant to the role you are applying for.
We won’t be behind the camera in real-time, so your response to each question will be recorded and reviewed by us later. After each question is asked you will have a short period of time to think about your response before the recording begins. All of the questions have a set time limit and you must try to ensure that your answer is complete before the time elapses, as the recording will end even if you have not concluded your response. Therefore, try to make your answers well-structured and succinct, as you will not be able to re-record them a second time.
The second stage
After each stage, we’ll let you know the outcome of your application. This will usually be two weeks after the application deadline for the programme you applied for.
If you’re successful, you’ll move onto the second and final stage – an assessment centre at our London office. We run a number of these for our different programmes.
These assessment centres run between November and December. You’ll take part in an interview with two assessors, and group exercises. Candidates who have applied to the Economist and Data streams will also be required to complete an online Excel test.
Graduate Development Programme
The assessment centres for our graduates take place between January and February. They are skills focused, and consist of an interview and group exercises.
The assessment centres for our Internship Programmes vary depending on your year of study – but all will take place in February. They all include an interview and group exercises, in line with graduate assessment centres. This is so that we can offer high performers the chance to convert to the Graduate Programme or further Internships.
Level 4 Apprenticeship Development Programme
The assessment centres for our Level 4 Apprenticeship Development Programme take place in February. You’ll take part in an interview with two assessors, and group exercises.
Degree Apprenticeship Development Programme
The assessment centres for our Degree Apprenticeship Development Programme take place in February. You’ll take part in an interview with two assessors, and group exercises.
Important – multiple applications
Unfortunately, we are not looking for more than one application per student. Our programmes are focused on students at different points in their academic life, so to that end, your first application will be accepted and any duplicates will be rejected.
If you feel you have special circumstances, or if you have any further queries regarding the application process, please contact the Bank of England Team at Penna.
Information for non-British/Irish applicants
As a registered sponsor, we’re able to issue certificates of sponsorship to work in the UK, in specific circumstances, under Tier 2.
For the permanent roles offered for first degree and Masters graduates, non-British/Irish nationals are required to be currently studying at a UK university and hold a valid Tier 4 student visa.
The same applies to our 13-month industrial placements and non-PhD short-term internships.
However, for our PhD Internship scheme, we are able to provide sponsorship under the Tier 5, temporary worker scheme.
Please see UK Visas & ImmigrationOpens in a new window for further details.
Please note, National Security Vetting (NSV) is required for all staff joining the Bank of England, and there are the following geographical limitations on this:
- We cannot conduct NSV on any individual, be it a contractor or member of staff, if they have no UK footprint and have no intention on working from a UK jurisdiction (such as UK embassies and other UK ‘managed’ locations)
- We cannot maintain NSV clearance on any vetted individual if they travel for work to a location outside UK jurisdiction beyond an approved maximum of three months
For more Information: Visit the website for Bank of England Black Future Leaders Sponsorship Programme 2023