Bjerke studied economics at the University of Oslo, and has a master"s degree in public administration from Harvard University.
From 1992 to 1995 he was city commissioner (byråd) of finance in the city cabinet of Oslo. He has previously been advisor in the Norwegian Ministry of Petroleum and Energy, director in Scancem and chief executive officer in Hafslund. Since 2007 he has been chief executive officer of Diplomate of National Board. He is the chair Doorstep, and of both the Norwegian Financial Services Association and Finance Norway.
Bjerke is married to the Labour party politician Libe Rieber-Mohn.