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Bank of Canada
Bank of Canada employees celebrating their Awards of Excellence   (Photo credit: Bank of Canada)

Recognized as one of Canada's Top 100 Employers (2017)

Here are some of the reasons why Bank of Canada was selected as one of Canada's Top 100 Employers (2017) and National Capital Region's Top Employers (2016):

  • Bank of Canada works to maintain a healthy and engaged workforce, offering "flex dollars" equal to 3.5% of employees' salaries as part of its health benefits plan -- flex dollars can be used to enhance standard coverage, deposited into a health and dental spending account, taken as taxable income, or used to purchase or sell back up to 5 additional vacation days
  • Bank of Canada actively pursues transparent and continuous communication with its workforce through employee town halls, internal speaker series with presentations from senior leaders, and recently hosted its second annual "Employee Conference", which was attended by over 1,250 employees
  • Through the Building Our Community charitable program, the Bank of Canada and its employees raised over $237,000 last year through a variety of fundraising efforts, from silent auctions to chili cook-offs to an Office Olympics event
Bank of Canada employees gathered from across the country for the second annual Employee Conference

Employer Background

Industry Central Bank
Major Canadian hiring locations Ottawa ON
Full-time employees in Canada 1,550
Part-time employees in Canada 20
Full-time employees worldwide 1,551
Workforce engaged on a contract basis 14.8%
Average age of employees in Canada 41.7
Longest serving employee 49 years

Physical Workplace A+

Commuter amenities car-pool sign-up program, secure/sheltered bicycle parking
Workplace features (editor's note: the head office complex on nearby Wellington Street is currently undergoing major renovations with employees relocated to three Ottawa-area locations, including the Laurier Avenue West address), shared-use (Velo-Go) bicycle rack outside building, private phone rooms, collaborative workspaces, onsite cafe and lunch bar in the building's lobby (featuring a breakfast menu as well as a hot lunch menu), telecommuter workstations, nap room, religious observance room, self-serve lunchroom
Employee lounge amenities comfortable seating
Onsite fitness facility for employees only, subsidized membership, treadmills, stationary bikes, stairmasters, instructor-led classes (AB Attack, BoxFit, hatha yoga, indoor group cycling, Insanity, PiYo, Zumba), rowing machines, weights, basketball court, shower facilities, subsidized membership for employees and their immediate family members (and fitness subsidy for employees at other locations)
Other nearby amenities YMCA/YWCA, fitness club, Confederation Park, Major's Hill Park, Garden of the Provinces and Territories, daycare, restaurants, shopping mall, Rideau Canal, Byward Market, Sparks Street Pedestrian Mall, National Archives, Canadian Museum of Civilization, National Gallery of Canada

Work Atmosphere & Communications A+

Employee social committee name The Bank of Canada Staff Association (est. 1940)
Recent social events along with various departmental celebrations, employees hosted a number of small gatherings to celebrate the Bank of Canada's 80th birthday last year, annual winter hockey tournament, summer golf tournament, summer barbecue, employee and children's Christmas parties, a special Take Your Kids to Work day (which included a chance for children to design their own banknote), the Staff Association also arranges discounted tickets for various venues including concerts at the Canadian Tire Centre, the Royal Ontario Museum and Canada's Wonderland, and an annual calendar contest with employee shutterbugs entering their best photos for the chance to be selected for the annual company calendar (with runners-up featured online and in the company newsletter)
Cultural aspects employee sports teams, business casual dress, casual dress (e.g. jeans) daily, music while working
Employee communications intranet site, company newsletter
Other in-house communications second annual Employee Conference (with over 1,250 employees in attendance), employee town halls, internal speaker series with presentations from senior leaders

Financial Benefits & Compensation A

Financial benefits note Bank of Canada has multiple employee groups, financial benefits may vary by position
Outside salary surveys participates in outside salary surveys every 12 months
Employee salary reviews individual salaries are reviewed every 12 months
Long-term savings defined-benefit (DB) pension
Long-term planning retirement planning assistance, phased-in retirement work options, life & disability insurance
Signing bonuses available for some positions
Additional financial benefits relocation assistance for new hires (including post-secondary students hired for Research Assistant positions) and current employees moving to other Bank locations, year-end bonus program is available for top performing regular and term employees, home computer discount program

Health & Family-Friendly Benefits A

Health plan premium as part of the health plan, the employer pays up to 100% of the premiums
Flexible coverage health plan is flexible with adjustable premiums and coverage levels
Waiting period there is no waiting period for coverage
Family coverage option yes
Dental coverage routine, restorative, orthodontics
Traditional coverage (e.g. prescription drugs) yes
Additional coverage employee assistance (EAP) plan, semi-private hospital room, physiotherapy, medical travel insurance, homecare, medical equipment and supplies, massage therapy, nutrition planning, podiatrist, osteopathy, chiropractor, alternative coverage (e.g. accupuncture, naturopathy)
Fitness club subsidy up to $350 each year
Other health plan information employees receive additional "flex-dollars" equal to 3.5% of their salary, which can be used to enhance standard coverage, deposited into a health and dental spending account, or taken as taxable income
Family-friendly benefits note Bank of Canada has multiple employee groups, family-friendly policies may vary by position
Maternity top-up (mothers) up to 93% of salary for 15 weeks
Parental top-up (mothers) up to 93% of salary for 12 weeks
Parental top-up (fathers) up to 93% of salary for 12 weeks
Adoption top-up up to 93% of salary for 12 weeks
Additional family-friendly benefits extended parental leave to unpaid leave
Alternative work options flexible work hours, shortened work week (fewer hours with less pay), compressed work week, telecommuting, earned days off program
Additional family-friendly information new parental leave program for parents of critically ill children (to 93% of salary for 35 weeks, with accrual of vacation credits granted during the first 12 weeks), job-sharing

Vacation & Personal Time-Off B+

Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job
Vacation jump vacation increases after 8 years of employment
Maximum vacation allowance employees move to a maximum of 5 weeks of vacation over their career
Previous experience considers previous work experience when setting annual vacation for new employees
Personal paid days off employees can schedule 2 personal days off each year, as needed
Unpaid leave maximum 24 months
Self-funded/deferred salary leave maximum 12 months
Additional time-off information as part of the flexible health plan, employees can purchase (or sell back) up to 5 additional vacation days, senior personnel start with 4 to 5 weeks of paid vacation, shorter paid leaves of absence available (from bereavement leave to jury duty)

Employee Engagement & Performance B+

Managers receive performance review training yes
Exit interview exit interview option is available for departing employees
Performance recognition individual performance bonuses, on-the-spot rewards, peer-to-peer-recognition awards, long-service awards, tailored and unique rewards (i.e. travel), each department receives allocated funds and can customize their performance recognition programs to reflect their teams, long-serving employees are treated to dinner and select a gift in celebration of their 5th anniversary and every 5th year thereafter, Awards of Excellence ceremony hosted at the inaugural Employee Conference last year (over 250 staff nominees)
Outside survey period outside consultant surveys are held every 36 months

Training & Skills Development A+

Career planning in-house career planning services, online employee skills inventory
In-house training initiatives mentoring, in-house training, online training, leadership training, paid internships, subsidies for professional accreditation
Tuition subsidies (related to job) yes
Tuition subsidy coverage employer covers up to 100% of tuition per year
Annual tuition maximum employer pays up to $7,000 in tuition subsidies per year
Tuition subsidies (unrelated to job) yes
Unrelated tuition subsidy coverage employer covers up to 75% of non-related tuition per year
Unrelated tuition maximum employer pays up to $7,000 in tuition subsidies per year
Unique training & development programs external development opportunities in the form of exchanges with other central banks and international finance organizations, leadership development program (2 to 6-day offsite program), regular employment with full benefits for qualified PhD candidates (versus previous 3-year term program), second language training (French and English)

Community Involvement A

Scope of charitable involvement local, national
Employee charitable involvement employees are involved in selection of charities, employees receive paid time off to volunteer, (up to 1 paid day)
Some of the community organizations supported United Way of Ottawa and Untied Way Outaouais (over 174 charitable and community organizations supported), HealthPartners (includes over 16 of Canada's best known health charities including the Heart and Stroke Foundation, the Alzheimer's Society and the Diabetes Association), Ottawa Food Bank, Children's Aid Society Christmas Gift Exchange, Shepherds of Good Hope Christmas Hamper Program, Prostrate Cancer and Male Mental Health initiatives (the local Mo Bros campaign)
Community highlight The Bank of Canada and its employees have been strong supporters of the annual United Way and United Way Outaouais campaign for the past 45 years. The Bank recently added HealthPartners as part of its rebranded charitable program that is now known as Building Our Community. Through this program, the Bank and its employees raised over $237K last year through a variety of fundraising efforts, from silent auctions to chilli cook-offs to an Office Olympics event.

The Career Directory

Bank of Canada has been selected for The Career Directory, our guide to entry-level recruitment for recent college and university graduates.
New Grad Jobs at Bank of Canada
Bank of Canada employees taking part in a Community Action Day

Highlights for New Grads

Industry Central Bank
Major Canadian hiring locations Ottawa ON
Full-time employees in Canada 1,550
Part-time employees in Canada 20
Student opportunities paid internships, summer jobs, co-op opportunities
Training subsidies for professional accreditation, orientation program, online training, in-house training, mentoring, in-house career planning services, leadership training
Tuition subsidies (related to job) yes
Typical new grad positions Research Assistant, Analyst, Economist, Senior Economist, FSS Senior Analyst
Starting salary $55K to $60K
Work perks health benefits for new employees, flexible work hours, telecommuting
Vacation allowance new employees receive 3 weeks of paid vacation after their first year on the job

Academic fields recruited

Recruits at these schools


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