The place is a zoo. It's bad for everyone who believes in merit-based allocation of rewards and opportunities, but especially for women. If you are a female student/PhD, avoid the place unless you want to have your self-confidence and career destroyed- or at least attempted to be destroyed.imagine that, a whiny woman convinced it’s her gender rather than her mediocrity that’s holding her back
OP didn't identify their gender. Why are BoC economists fighting it out here?
80% research time? No.
You should know “Research” includes analytical works about the Canadian economy directed by your boss. If you are applied econometrician, you can’t expect much time on your own research at all.
The research environment is poor for juniors in the sense that you can’t expect advice from good senior researchers, because those who can publish at a good journal leave.
This is not true. 80% is really a lower bound in my experience, but of course you need to produce. You can't be promoted unless you publish top-field at least. There are good seniors to give feedback, not fewer than in good universities. It's up to you to use the resources in place.
1. "but of course you need to produce". No, you don't. That's easy to check online. The modal person is deadwood.
2. "you can't be promoted unless you publish top-field at least". Definitely, not true. You can rise quite high with no or minimal publications.
3. "there are good seniors to give feedback". Lol. Good seniors are extremely rare at the BoC and you are not likely to meet them.
Well, if you don't like the BoC then their jobs are not for you; just don't apply there then. In reality, the bank gets flooded with applications every year, and candidates struggle to find their spot. See the revealed preference from the actual outcomes. It's not one of the top places, but it will be hard for you to decline their offers once you get the offers given the job market is increasingly competitive these days.
The pay is pretty good by Canadian standards over $110,000 (cdn). Contrary to what trolls say the average tax rate is 30% at that level.You can see why this attracts a very different caliber of person than a regional Fed in the US, which pays twice as much with (except in the few most expensive cities) a similar or lower cost of living...
This.
BoC is a second-tier central bank with people who cannot get a job at ECB, BoE, and FedActually, BOC is somewhat better than BOE (compensation, research, etc)
BoE pays how much? 80k?
Less than $80k, if I remember correctly. Of course, it depends on FX, and maybe there could be more hidden benefits. However, the cost of living in London is just hell... I still cannot understand why they provide below living wage to their economists
BoC is a second-tier central bank with people who cannot get a job at ECB, BoE, and Fed
Actually, BOC is somewhat better than BOE (compensation, research, etc)
BoE pays how much? 80k?
Less than $80k, if I remember correctly. Of course, it depends on FX, and maybe there could be more hidden benefits. However, the cost of living in London is just hell... I still cannot understand why they provide below living wage to their economists
Hmm. Less than 80K? Wow, I have seen some with better publications than Fed economists who earn close to times 2.6
What is going on?
BoC is a second-tier central bank with people who cannot get a job at ECB, BoE, and FedActually, BOC is somewhat better than BOE (compensation, research, etc)
no one cares about BOC both in academia and the policy world.
Then who cares BOE then? Honestly, BOE is out of sight for everyone, especially after Brexit. Only the ECB and Fed are the main players. Compensation and work environment matter more than the history of the institution for most people. In terms of research, do you really think BOE has an edge over BOC? Both are similar level of research institutions in the end.
BoC is a second-tier central bank with people who cannot get a job at ECB, BoE, and Fed
Actually, BOC is somewhat better than BOE (compensation, research, etc)
no one cares about BOC both in academia and the policy world.
Then who cares BOE then? Honestly, BOE is out of sight for everyone, especially after Brexit. Only the ECB and Fed are the main players. Compensation and work environment matter more than the history of the institution for most people. In terms of research, do you really think BOE has an edge over BOC? Both are similar level of research institutions in the end.
BOE invests in new hires in form of training and exposure to high-level policy decision making.