Reserve Bank of Australia Reviews

Updated 27 Jul 2020

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3.5
63%
Recommend to a Friend
91%
Approve of CEO
Reserve Bank of Australia Chief Governor Glenn Stevens (no image)
Glenn Stevens
35 Ratings
Pros
Cons
  • "Slow career progression, limited management positions available(in 6 reviews)

  • "Mostly over fixed term contracts which are never renewed(in 3 reviews)

More Pros and Cons
  1. "Great culture and place for learning"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Information Technology Support in Sydney
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Reserve Bank of Australia full-time for more than 3 years

    Pros

    Complex network which provides a lot of opportunity for growth and learning. Great culture and teams, everyone is willing to lend a hand and teach. Subsidized cafeteria is great too.

    Cons

    Gained 15 kgs from the cafe. Politics can get annoying. Low paying in comparison to private industry as it is government.

  2. "A stable career if you have a spare 40 years"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Executive Assistant in Sydney
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I have been working at Reserve Bank of Australia part-time

    Pros

    Subsidised cafe and staff gift shop, minimal hours, flexible working arrangements

    Cons

    Archaeic values with zero interest in change. Very minimal job opportunities unless you intend on working there for 40 years. Would not recommend.

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  3. "IT is not the forte of this organisation"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Data Architect in Sydney
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at Reserve Bank of Australia full-time for more than a year

    Pros

    Subsidised cafe, free gym, location.

    Cons

    Poor management, enterprise architect is weak.

  4. "Good leave entitlements"

    3.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Business Analyst in Sydney
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Reserve Bank of Australia full-time for more than a year

    Pros

    Leave entitlements and job security

    Cons

    Slow to get things done

  5. "Formerly great workplace, ruined by new management and HR department."

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Software Developer in Sydney
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at Reserve Bank of Australia full-time for more than 10 years

    Pros

    The 2-year graduate program was quite good. Defined-benefit superannuation (unfortunately no longer available to any new employees). Employee-exclusive health fund has excellent coverage and generous claim limits. In-house cafeteria. Assortment of sporting and social clubs.

    Cons

    Incompetent and toxic management. Unethical HR department. Be warned, they will use underhanded tactics to weasel their way out of obligations towards employees (e.g. redundancy payments). Surprisingly poor conduct and lack of integrity, for an organisation of this calibre. Would not consider working here ever again, unfortunately.

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  6. "Mediocre at best"

    2.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - IT Project Manager in Sydney
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Reserve Bank of Australia full-time

    Pros

    Most people are friendly, perks such as subsidised cafe and gym

    Cons

    A ridiculous amount of bureaucracy to get anything done, management don't prioritise projects and resources which leads to high stress for IT staff

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  7. "Hard place to work"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Project Lead in Sydney
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Reserve Bank of Australia full-time for more than a year

    Pros

    People on team were helpful

    Cons

    Managers totally biased, focussed on spelling and grammar versus actually benefits delivered, nothing about project management in the role,

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  8. "Good place to work"

    4.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Analyst in Sydney
    Recommends
    Neutral Outlook
    No Opinion of CEO

    I have been working at Reserve Bank of Australia full-time for more than a year

    Pros

    Flexible working options, mostly supportive co-workers and plenty of motivated employees. Plus, the work satisfaction is good.

    Cons

    Not a lot of autonomy and multiple layers of bureaucracy.

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  9. "Great working environment in general"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Analyst in Sydney
    Recommends
    Neutral Outlook
    No Opinion of CEO

    I have been working at Reserve Bank of Australia full-time for more than a year

    Pros

    Working with Australia's cream of the crop - economists/analysts, some who have decades of research and experience behind them. The work here is mostly quite interesting but I would want to see more advanced analytics in the future - something that the Australian CB is currently lacking in. The salary is also good - above market and it really shines because you won't be stuck in the office after hours unlike a lot of private sector companies. There are also great perks such as the RBA super, health fund and a subsidized cafeteria. If you want a change in direction, internal movement is also relatively easy and if anything, a lot of recruiters will be keeping an eye on you - RBA is known to produce some of the best.

    Cons

    As usual, there are some instances of office politics and managers that are lacking in fundamental knowledge - resulting in things being done backwards. For example, we have over 5 massive databases and there is a lack of innovation in using the data in a better and smarter way - mostly machine learning and such ... but after all, this is a central bank, not some tech company. The career progression also slows after you reach senior analyst, so a lot of the younger portion of the bank will just hop ship and earn way more elsewhere. There is no viable work around for this, many managers have been at the bank for decades. The ones that are left after they hit senior are the ones that are most likely to be staying with the bank for years so there is no way to compete.

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  10. "Great place to start career"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Analyst in Sydney
    Recommends
    Positive Outlook
    No Opinion of CEO

    I have been working at Reserve Bank of Australia full-time for less than a year

    Pros

    Above market starting salary with good benefits, intelligent colleagues and central location. Work can be interesting and challenging, depending on which team you're placed on. Exit opportunities are abundant since the RBA is held in high regards almost anywhere around the world.

    Cons

    Team dependent - can be placed into teams that aren't doing any research work which can be boring. Slow-ish progression after you surpass level 3 and there are a lot of very conservative and risk averse managers resulting in slow progression of technology and use of data - especially data analytics.

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Found 68 reviews