Federal Reserve Board Reviews

Updated July 9, 2015
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3.0
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Janet L. Yellen
3 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

9 Employee Reviews

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  1. 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.


  2. 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.


  3. 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


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (2)

    Great Place to Work

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

    I worked at Federal Reserve Board

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

    Pros

    No strict hours. Everyone is generally nice and easy to work with. You get to see some of the smartest economists in the world walk around the hallways.

    Cons

    The offices building hasn't building hasnt been upgraded since the 50's. The cafeteria could use a little improvements. Ego's can and will clash from time to time.

    Advice to Management

    Needs to be more communication between groups. There is a huge disconnect and a lot of potential collaboration is mised out on. Research tools aslo need improvement.


  6. A friendly place to work

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Federal Reserve Board

    Pros

    It is a very friendly work environment.

    Cons

    There wasn't much room for creativity.


  7. Helpful (7)

    Good place to have been: Don't get comfortable and stick around forever

    • 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 (More than a year)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Exposure to SAS, SQL, MS Access; I learned all of that from scratch during my time Exposure to large data; perfect environment from where you can launch a career in analytics Good hours Decent colleagues

    Cons

    This is an academic environment, so don't expect to find good (or open) management No teaming; people here work in silos and everyone has a sense of being a boss The name of the game here is to get your tenure after your 2-year probationary period and then get comfortable; this may not be bad, but it breeds a certain mentality I was/am not comfortable yet Complete disregard for the private sector

    Advice to Management

    You don't know everything It may do you some good to experience some other environment before returning to the Board


  8. Helpful (3)

    Some good, some bad, depends on your personality

    • Work/Life Balance
    • 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

    No opinion of CEO
    No opinion of CEO

    Pros

    --benefits are incredible --pay is much higher than at other federal agencies --good tuition assistance --can try different kinds of things and move laterally --some nice people --if you are an economist in R&S, it's the bomb!

    Cons

    --very hierarchical, like a caste system (probably similar to other govt agencies) --federated structure means everyone is the boss! completely siloed. --slow, slow, no decision-making - make up your mind already! --no process, no infrastructure - do they make monetary policy on an abacus? --a lot of the Officers think they are The. Smartest. Person. Ever. --inverse relationship between rank and leadership ability - the higher the person, the worse the managerial skills

    Advice to Management

    Retire. Soon. Before the GAO gets in there to audit you for real.


  9. Good.

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

    I have been working at Federal Reserve Board

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    Very interesting and technical work Ability to work with lots of data and empirical work Excellent benefits package One of a kind insight into economic markets

    Cons

    -Very political and very little collaboration -Hours can be extremely long and work extremely tedious -Sections can be poorly managed and understaffed


  10. Helpful (1)

    Good place to work out of undergrad

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

    I have been working at Federal Reserve Board

    Recommends
    Approves of CEO
    Recommends
    Approves of CEO

    Pros

    Pretty cushy job, very lax about hours as long as you get the work done, can learn a lot from economists

    Cons

    The kind of work you get really depends on the section that you work for. Some RAs get some real responsbilities and will learn a lot staying at the Fed for two years. Some, will learn absolutely no transferable skill and end up leaving a lot earlier than others.

    Advice to Management

    The section I worked for had terrible management. They took no responsibility in training the RAs and gave them no serious responsibilities, which is probably why my section has had such a terrible history of RA retention.



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