Bank of Canada
Bank of Canada employees gathered from across the country for the second annual Employee Conference

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 (2018), Canada's Top Family-Friendly Employers (2018) and National Capital Region's Top Employers (2018) :

  • In addition to providing maternity and parental leave top-up payments for employees who are new parents, Bank of Canada offers employees the option to extend their leave into an unpaid leave of absence
  • Employees at Bank of Canada's recently renovated head office are encouraged to keep fit with an onsite fitness facility, open 24/7 and offering subsidized memberships for family members -- the downtown location also offers convenient access to many of the city's most famous attractions, from the Rideau Canal to Parliament Hill to the Byward Market
  • Bank of Canada aims to maintain a healthy and engaged workforce, providing "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 or sell 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 third annual "Employee Conference", which was attended by over 1,300 employees last year
Bank of Canada employees examine the winning entries of the photo calendar contest at the Governor's holiday reception

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 1,674
Part-time employees in Canada 65
Full-time employees worldwide 1,675
Workforce engaged on a contract basis 16.8%
Average age of employees in Canada 41.6 years
Longest serving employee 50 years

Physical Workplace Rating: A+

Commuter amenities secure/sheltered bicycle parking
Workplace features drop-in rooms for small impromptu meetings, collaborative spaces for larger meetings, large atrium with high ceilings, lush greenery and lots of natural lighting (and wifi for employees wishing to relocate), telecommuter workstations, nap room, religious observance room, self-serve lunchroom
Employee lounge amenities comfortable seating, television, video games, foosball table, board games, quiet reading area
Onsite cafeteria healthy menus
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, called the "BeneFIT Centre" the facility is open 24/7 and also offers subsidized membership for family members (and fitness subsidies 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 Rating: A+

Employee social committee name The Bank of Canada Staff Association (est. 1940)
Recent social events annual winter hockey tournament between departments (called The Governor's Cup), 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), numerous departmental-level events throughout the year, 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 a unique 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 Fridays, music while working
Employee communications intranet site, company newsletter, internal social media
Other in-house communications annual employee conference in the spring (over 1,300 employees gathered last year for last year's conference), employee town halls, internal speaker series with presentations from senior leaders

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 is available for top performing regular and term employees, home computer discount program

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
Additional coverage 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
Other health plan information lunch hour wellness seminars, 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 enrol 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 $4,000 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 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, generous academic scholarship program for Indigenous Students and Students with Disabilities (also open to children and relatives of employees), fully paid salary for jury duty

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 (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 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 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 annual employee conference each year
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
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 external development opportunities such as exchanges with other central banks and international finance organizations, leadership development program, regular employment with full benefits for qualified 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 Untied Way Outaouais (over 150 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
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 also supports HealthPartners as part of its charitable program, Building Our Community. Through this initiative, the organization raised over $286K in the past year through a variety of fundraising efforts, from silent auctions to chilli cook-offs to an Office Olympics event. At the departmental level, numerous fundraising activities are hosted, serving as both team-building exercises and fundraising initiatives, from supporting the Children's Aid Society Christmas Gift Exchange to Prostrate Cancer and Male Mental Health initiatives (the local Mo Bros campaign).

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 employees celebrating their 5, 10, 15, or 20 years of service anniversaries at the Bank's third annual milestone event

Highlights for New Grads

Industry Central Bank
Major Canadian hiring locations Ottawa ON, Montréal QC, Toronto ON, Calgary AB, Halifax NS, Vancouver BC
Full-time employees in Canada 1,000 to 2,500
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
Typical new grad positions Research Assistant, Analyst, Economist, Senior Economist, FSS Senior Analyst
Starting salary $55K to $60K
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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