Federal Reserve Board

  www.federalreserve.gov
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Federal Reserve Board Reviews

Updated Jul 12, 2014
All Employees Current Employees Only

4.2 51 reviews

100% Approve of the CEO

(no image)

Janet L. Yellen

(9 ratings)

91% of employees recommend this company to a friend

Review Highlights

Pros
  • Great learning opportunities; decent work/life balance; excellent compensation and benefits package(in 12 reviews)

  • Opportunity to learn in depth information about monetary policy(in 4 reviews)


Cons
  • Complete disregard for the private sector(in 6 reviews)

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

20 Employee Reviews Back to all reviews
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    As a Web Development Intern, I enjoyed being in DC and Pay was Excellent

    Web Development Intern (Former Employee) Washington, DC

    ProsGood people, nice environment, awesome buildings and perks that come with being a Board employee. Benefits are also good for employees. Work can get boring but that's just work. When I received my paycheck, it all made sense. Most people who work there are friendly but there is also some politics involved. Duh! I got to meet and take a pic with Ben Bernanke and Janet Yellen. So that was a great experience.

    ConsI was given a tedious project from which I did not learn much. Seemed like wax on wax off type of job as an intern but I did my time and earned what I deserved. Actually they overpaid me... how dumb is that, being the Fed. I received an extra paycheck and they've been bugging me about it since.

    Advice to Senior ManagementPlease don't be so uptight. Not my manager, but some other interns I observed.

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    1 person found this helpful  

    Good working environment

    Auditor (Current Employee) Washington, DC

    ProsGood work/life balance
    Paid time off
    Education Assistance

    ConsOpportunities for Advancement
    Bureaucratic
    Management competence is lacking

    Yes, I would recommend this company to a friend

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    Great company to work for, but not for everyone. Those looking for a social environment beware.

    Anonymous Employee (Current Employee) Washington, DC

    Pros-doing good work
    -intelligent people to work with
    -good, central location in DC
    -opportunities to move up or to get subsidized higher education

    Cons-very academic environment (could be a pro)
    -not very social, limited team bonding
    -age segregation
    -higher level staff can sometimes be unaccessible to lower level staff

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    • Culture & Values
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    2 people found this helpful  

    Wonderful learning experience

    Staff Assistant (Former Employee) Washington, DC

    ProsI was taught a lot of exciting task

    ConsNever trust your surroundings at FRB

    Advice to Senior ManagementTreat people the way you would want to be treated

    Yes, I would recommend this company to a friend

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    • No Opinion of CEO

    1 person found this helpful  

    A generally good lifetime experience at the U.S. central bank

    Senior Financial Services Analyst (Former Employee) Washington, DC

    ProsInteresting work at the most important central bank in the world; decent pay with periodic cash bonuses; own office; civilized hours; good learning opportunities for younger professionals.

    ConsCareer path opaque and perplexing; job increasingly driven by process and process fulfilment imperatives; limited view of the organization; stifling class system of management; bureaucratic procedures.

    Advice to Senior ManagementBe more communicative and honest with staff. Generate genuine staff development and promotional opportunities that are equitable. Abolish "caste" system of management. Allow staff greater say (without prejudice) in building true consensus and driving organizational as well as business change.

    Yes, I would recommend this company to a friend

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    Very pleasant experience. Learned a lot.

    IT Intern (Former Employee) Washington, DC

    ProsGreat benefits, hours, work/life balance, people are really nice

    ConsSome of the work can be monotonic

    Advice to Senior ManagementBe more present

    Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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    Great to work in a place that has such an impact and relationship to the US economy

    IT Analyst (Current Employee) Washington, DC

    ProsPeople are highly educated, generally pleasant

    ConsLong term employees with minimal perspective on how to utilize technology efficiently. Lot of silos across divisions, not team players - dont share their information/relationships very well. Managers are not trained to mentor and some should not be be 'people managers' Limited growth - takes long time to advance, or you have to know the officer on a personal level to get promotion

    Advice to Senior ManagementGet a better leader for IT, has no strategic vision or relationship / doesnt care or know that there is no respect from staff.

    Yes, I would recommend this company to a friend

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    Terrific Place for an Economist

    Anonymous Employee (Current Employee)

    ProsSupportive of Research; Cooperative and Friendly Culture

    ConsA bit disorganized and bureaucratic

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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    Great Organization;

    Anonymous Employee (Current Employee)

    ProsThe Fed has an important mission and has been a major force for economic stabilization over the past few years. It can be a great organization to do well by doing good, especially as a young person. Most employees are passionate and excited about the work they're doing. The pension, benefits, and work-life balance are excellent.

    ConsThe Board seems to prioritize giving management roles to those who are talented at their group's work rather than emphasizing leadership/management potential or skill. We have a lot of gifted practitioners who seem to flounder when forced to manage and set strategy. On the other hand, young people interested in moving into management don't have a clear path to do so.

    Those willing to do the most work may quickly find themselves overwhelmed and unable to get management buy-in to delegate/rebalance their work. Also, the superstar premium is modest. Unlike at some private sector employers, taking on more work and hitting it out of the park may result in a raise and bonus only moderately larger than that received by those who are barely skating along. Since the upside is limited but the added workload and resultant stress can be substantial, employees are loath to take on new responsibilities.

    Getting rid of bad employees seems to be excessively difficult. Certain problem employees and managers are worked around rather than removed or demoted.

    Advice to Senior ManagementEncouraging more churn would shake out a lot of the petty politics and fiefdoms, helping to break the siloed mindset. The rotational programs that are currently happening within the research divisions are a step in the right direction.

    The Board would be well served to build a pipeline of young management trainees and give them opportunities for project management roles and other development prior to becoming group or section managers. Talented young people interested in management frequently leave because they worry it will take years or even decades to have a chance at a management position.

    Yes, I would recommend this company to a friend

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    Working at the Federal Reserve was a wonderful experience.

    Research Assistant (Current Employee) Washington, DC

    ProsEveryone you work with is kind and eager to help and work with you on a variety of projects.

    ConsCertain positions are very stagnant and after a couple years you have to move on.

    Yes, I would recommend this company to a friend

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