Federal Reserve Board Reviews

Updated July 17, 2015
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4.1
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Recommend to a friend
Approve of CEO
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Janet L. Yellen
14 Ratings

Pros
  • Work / life balance can be very good (in 14 reviews)

  • Benefits are incredible: Still offer a pension; 401(k) match that I can't find elsewhere; can retire by age 55 (in 3 reviews)

Cons
  • There is an abundance of red tape (in 3 reviews)

  • This is an academic environment, so don't expect to find good (or open) management (in 2 reviews)

More Pros and Cons

51 Employee Reviews

Sort: Popular Rating Date
  1. Great Opportunities to get real world application

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Board

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    During my time as a graduate intern, I was able to really jump into some interesting projects that allowed me to gain real world experience and exposure that was applicable to my masters degree. The work environment was positive, supportive and flexible and provided great insight into the public sector.

    Cons

    While good opportunities exist, you have to be proactive in seeking them out. The culture is conservative, but I believe that is in part due to the nature of the work. Change is slow, like most federal cultures.


  2. Very friendly environment

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Board full-time

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    - Great colleagues who are willing to have very intellectual discussions - Work is challenging in a positive way - Have a large network of peers to share insights

    Cons

    - Can be hit or miss depending on what projects you'll work on - There are some slow days - You'll not get much practice business experience


  3. Degenerate Solution

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Analyst in Washington, DC
    Current Employee - Financial Analyst in Washington, DC

    I have been working at Federal Reserve Board full-time

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    You will get your own office.

    Cons

    Not a good place to work if you "only" have a master's degree. Your day-to-day job description will overlap with a Technology Analyst and an entry-level Research Assistant because the Board does not hire enough IT specialists and the Economists you support will micromanage you out of any remaining illusory stake in the analytical cycle because you are a "non-Economist".

    Advice to Management

    Do not confuse a career track with periodic salary increases. A career track involves added responsibility, dedicated analytical space, and an increasing level of goals and challenges that sustain and build "human capital." If you mistake it for salary, you will retain the employees who want the money and lose the ones who have skills to offer in return.


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  5. analyst

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Washington, DC
    Current Employee - Anonymous Employee in Washington, DC

    I have been working at Federal Reserve Board full-time (More than a year)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    There are good benefits, and educational opportunities.

    Cons

    Hierarchal. "This is how it has always been done" ideology.


  6. Helpful (2)

    The Federal Reserve Board provides one of the best benefits packages, especially their academic assistance program.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Washington, DC
    Current Employee - Anonymous Employee in Washington, DC

    I have been working at Federal Reserve Board (More than 10 years)

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Benefits (health, vision, dental) Academic assistance Excellent working environment Top notch employees

    Cons

    Difficult to advance into other areas within the Federal Reserve.


  7. Interesting

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Board

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Decent salaries for most positions.

    Cons

    Bureaucratic environment and different culture

    Advice to Management

    Leadership training has been helpful for management


  8. Helpful (12)

    The Golden Handcuffs are alluring

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in Washington, DC
    Current Employee - Analyst in Washington, DC

    I have been working at Federal Reserve Board full-time (More than 8 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    The pay is far more aggressive than what you'll find on the GS scale for government work. The Fed straddles both the government and private industry fence, so you can get the best (and worst) of both worlds. Merit increases have been solid (even through the financial meltdown) and year-end bonuses make holiday shopping enjoyable. The benefits are extensive; health stipends, employer-paid pension, and a 7% match on your 401(k). Plenty of time off options between vacation, personal days, and the "snow" days when the rest of government freaks out because it *might* snow. Telework has taken off and some areas are two-three days a week. Promotions are tough once you hit mid-career level as no one seems to leave. Hence, it a waiting list to move up in your current role.

    Cons

    Best way to get promoted is to leave and come back after two years. Some divisions seem stuck in the 1950's (here's looking at you IT) and others prefer the bleeding edge. There is a fair amount of fiefdom and silos still exist. At times, it operates closer to a dozen private businesses (divisions) all fighting over the same scraps. Why? We turned over $100 billion to Treasury last year as "profit." Yes, some areas are content to let employees "retire in place" and get paid so long as they can still fog a mirror. Others run so lean an operation, the typical workweek is 7am-7pm, five days a week. Get your staffing levels right on both sides of that aisle.

    Advice to Management

    360 reviews are long-overdue; there needs to be some form of peer/customer feedback. Employees are rated and "at risk" of losing their jobs every year; employees stuck with a bad manager should be allowed to "fire" the manager as well through some means other than quitting. Some managers are technically great, but have zero "people manager" skills. If I'm a technical expert, let me chase that path and leaves the management track to those who want it (subject matter experts should be allowed to make more than their manager - aka "dot com" era). If you want top talent, you're going to have to pay for it (better salaries, faster promotions, bigger bonuses, getting rid of knucklehead managers, etc.). I have every intention of retiring from the Fed. I believe in her mission and the "higher purpose" of what we do. I just want to be certain what I do matters. I don't need to be "private island" rich, but I don't want to live paycheck-to-paycheck either (which is very easy to do trying to raise a family in DC).


  9. Overall, a very positive experience

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Research Assistant in Washington, DC
    Current Employee - Senior Research Assistant in Washington, DC

    I have been working at Federal Reserve Board full-time (More than a year)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Learn a lot about programming, surrounded by highly intelligent staff, opportunities you couldn't get elsewhere

    Cons

    A lot of production work is required of research assistants


  10. Helpful (3)

    The Federal Reserve Board is a great place to work with excellent benefits package

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Washington, DC
    Current Employee - Anonymous Employee in Washington, DC

    I have been working at Federal Reserve Board full-time (More than 5 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Salary is competitive with private sector Outstanding benefits package Outstanding retirement package They encourage annual staff training\conferences Flexible schedule, telecommuting Annual pay increases based on merit (i.e. you earned it)

    Cons

    Restrictions on gift acceptance such as training conference freebees Promotions (pay grade increase and management positions) seem to be based less on merit and ability but more on who you know, who you haven't pissed off and if you're not too old (promoted managers tend to skew on the younger spectrum < 35) No parking garage for non-management employees


  11. Helpful (3)

    Great place to work in dc

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Board full-time

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Smart people. Great pay. Great benefits. Flexible work schedule

    Cons

    Work loads can be large at times



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