THE BANK OF ENGLAND.

Wairarapa Age, Volume XXV, Issue 10713, 3 September 1913, Page 4

THE BANK OF ENGLAND.

A clerk on entering the Bank of England must be between 18 and 22 years of age, and he starts with a. salary of £IOO (writes a London correspondent). A candidate must be nominated by a director, his moral character has to be certified, and he has to pass A qualifying (not a competitive) examination. One in four or five fails to pass. At the end of two years the clerk has to. decide whether he will enter the cashier's department (the real banking work) or the accountants' department (National Debt and Stocks). Pay then rises £lO a year. At the end of five years a clerk either proceeds to the fourth class, or passes out of the service. After ten years' service-he receives on average £212 & year; after fifteen years £260. At the end of twenty years the average salary is £300; at thirty years" £389, after that senior clerks riee to £4BO. The staff posts and the special posts, about one thousand in number, are won by merit. The bhief cashier has the highest salary (£3000); the .chief accountant £2600; there flre three appointments at £I6OO, one each at fIiSOO, £IOOO, and £9OO, and several at £7OO. Agents of branohes rer ceive salaries up to £2400. There is a pension scheme to whioh the clerk does not contribute but tor which he is qualified after ten years' service.