Bank of Canada
Bank of Canada staff inside the Bank's newly improved Knowledge Centre, which promotes collaboration, idea sharing, informal learning, and interacting with subject matter experts   (Photo credit: Bank of Canada)

Recognized as one of Canada's Top 100 Employers

Here are some of the reasons why Bank of Canada was selected as one of Canada's Top 100 Employers (2019), Canada's Top Family-Friendly Employers (2018) and National Capital Region's Top Employers (2018) :

  • Bank of Canada renovated its head office to incorporate the latest in workspace design, including private drop-in rooms for impromptu meetings or private calls, an "IdeaSpace" innovation lab to encourage collaboration, and an expanded Wellness Centre which features a quiet lounge space, a wellness library, rooms for meditation, stretching or prayer, a private space for nursing mothers and even a light therapy lamp
  • Bank of Canada aims to maintain a healthy and engaged workforce and provides flex dollars 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 up to 5 additional vacation days
  • Bank of Canada actively pursues transparent and continuous communication with its workforce through employee town halls and an annual "Employee Conference", which was attended by nearly 1,400 employees last year
Employees at a housewarming event in the Atrium, where over 900 Bank of Canada employees received a special issue of 'Bank Notes' magazine commemorating the renewal of the head office  

Employer Background

Industry Central Bank
Established in Canada 1935
Major Canadian hiring locations Ottawa ON, Montréal QC, Toronto ON, Calgary AB, Halifax NS, Vancouver BC
Full-time employees in Canada 1,717
Part-time employees in Canada 46
Workforce engaged on a contract basis 16.4%
Average age of employees in Canada 42.3 years
Longest serving employee 51 years

Physical Workplace Rating: A+

Commuter amenities electric vehicle charging stations, secure/sheltered bicycle parking
Workplace features head office was renovated to incorporate the latest in workspace design, including shared workspaces, private drop-in rooms for impromptu meetings or private phone calls, WiFi access throughout to allow employees to easily relocate, the "IdeaSpace" innovation lab where employees can meet to collaborate, telecommuter workstations, sit-stand workstations, nap room, religious observance room, self-serve lunchroom, and an expanded Wellness Centre that offers a quiet lounge space, wellness library, rooms for meditation, stretching or prayer, a private space for nursing mothers, a light therapy lamp and blood pressure monitors
Employee lounge amenities comfortable seating, television, video games, foosball table, board games, quiet reading area
Onsite cafeteria healthy menus, cafeteria offers great views of Parliament Hill, onsite café is located in the spacious atrium with abundant plant life year-round
Onsite fitness facility for employees only, subsidized membership, treadmills, stationary bikes, stairmasters, instructor-led classes (yoga, Zumba, muscle conditioning, cardio intervals, indoor group cycling), rowing machines, weights, basketball court, shower facilities, (the recently renovated facility is called the "BeneFIT Centre" and is open 24/7, with subsidized membership for family members)
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 Rating: A+

Employee social committee name The Bank of Canada Staff Association (est. 1940)
Recent social events annual interdepartmental winter hockey tournament (6 teams competed for The Governor's Cup last year), summer golf tournament, summer barbecue, year-end holiday reception for employees and a special children's Christmas party with over 550 attendees last year, a special Take Your Kids to Work Day event (over 60 Grade 9 kids attended their own workshop in the IdeaSpace innovation lab to envision the workplace of 2037), popular annual employee calendar contest (employees submit their photography for a chance to be featured on the company's annual calendar)
Cultural aspects employee sports teams, business casual dress, casual dress Fridays, music while working, organized social activities for retirees
Employee communications intranet site, company newsletter, internal social media
Other in-house communications Télé-Info messages (displayed on large television monitors on each floor at the head office, as well as other offices in Montréal and Ottawa), annual employee conference in the spring with the Awards of Excellence ceremony (nearly 1,400 employees gathered for last year's "Our Future is Now"-themed conference), employee town halls

Financial Benefits & Compensation Rating: 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 available for top performing regular and term employees, home computer discount program as well as discounts on a variety of products and services (from VIA Rail tickets to mobile phone service)

Health & Family-Friendly Benefits Rating: 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
Other health plan information employee assistance (EAP) plan, semi-private hospital room, physiotherapy, medical travel insurance, homecare, medical equipment and supplies, massage therapy, podiatrist, osteopathy, chiropractor, alternative coverage (e.g. accupuncture, naturopathy)
Fitness club subsidy up to $350 each year
Additional health and wellness information laser surgery (to $1,500 lifetime maximum), Best Doctors service (employees and dependents), CAREPath (cancer care support for patients), extended fertility drug coverage (up to $20,000), employees receive additional flexible benefit dollars that can be used to enhance standard coverage, deposited into a health and dental spending account, taken as taxable income or used to purchase up to 5 additional days off, retirees can enroll in the health benefits plan with no age limit (retirees pay full premiums)
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, academic scholarships of up to $10,000 per child
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 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, leave can be extended into an unpaid leave of absence if desired), job sharing, generous academic scholarship programs for Indigenous students and students living with disabilities (also open to children and relatives of employees)

Vacation & Personal Time-Off Rating: 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 1 personal day 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 up to 5 additional vacation days, senior personnel start with 4 to 5 weeks of paid vacation, paid leaves of absence available for shorter durations (from bereavement leave to jury duty)

Employee Engagement & Performance Rating: B+

Employee performance reviews employees receive individual performance reviews every 12 months
Managers receive performance review training yes
Confidential employee feedback employees can also provide confidential feedback on their manager's performance
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 funds and can customize their performance recognition programs to reflect their respective teams, long-serving employees are treated to dinner and a gift of their choice in celebration of their 5th anniversary and every 5th year thereafter, Awards of Excellence program lets employees nominate colleagues for special recognition (with awards presented at the annual employee conference each spring), new "Bank of Canada Top Research Award" presented to an individual or group
Outside survey period outside consultant surveys are held every 36 months

Training & Skills Development Rating: 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, mentoring to transfer retirees' skills
Related tuition subsidies employer covers up to 100% of tuition per year
Annual tuition maximum employer pays up to $7,000 in tuition subsidies for job-related courses per year
Unrelated tuition subsidies employer covers up to 75% of tuition per year for courses unrelated to current position
Unrelated tuition maximum employer pays up to $7,000 in tuition subsidies per year for courses unrelated to current position
Unique training & development programs leadership development program, regular employment with full benefits for qualified master's and PhD candidates, second language training (French and English), unique Veteran's Outreach Initiative and Temporary Work Experience program for Persons with Disabilities

Community Involvement Rating: 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 United Way Outaouais (over 175 charitable and community organizations supported), HealthPartners (includes over 16 of Canada's best known health charities, such as the Heart and Stroke Foundation, the Alzheimer's Society and Diabetes Canada), Ottawa Food Bank, Children's Aid Society Christmas Gift Exchange
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, and also supports HealthPartners' "Building Our Community" program. Employees raised over $281,000 last year (dramatically exceeding its $220,000 target) through a variety of fundraising initiatives, from an annual Fall Fair with book and bake sales to a summer concert (with a Name That Canadian Tune contest) to a 5K walk/run from Gatineau to Parliament Hill.

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.
Bank of Canada students participate in a lunch and learn session

Highlights for New Grads

Industry Central Bank
Full-time employees in Canada 1,000 to 2,500
Major Canadian hiring locations Ottawa ON, Montréal QC, Toronto ON, Calgary AB, Halifax NS, Vancouver BC
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
Annual tuition maximum employer pays up to $7,000 in tuition subsidies for job-related courses per year
Other info for new grads Bank of Canada offers a master's scholarship award for women in Economics and Finance and a scholarship and work placement program for Indigenous students and students with disabilities.
Typical new grad positions Research Assistant, Analyst, Economist, Senior Economist, FSS Senior Analyst
Starting salary $60K to $65K
Work benefits health benefits for new employees, flexible work hours, telecommuting, employees receive paid time off to volunteer, (up to 1 paid day)
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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