Federal Reserve Bank of Chicago

  www.chicagofed.org
Work in HR? Unlock Free Profile

Federal Reserve Bank of Chicago Interview Questions & Reviews

Updated Feb 1, 2014
All Interviews Received Offers

Getting an Interview  

91%
5%
2%

Interview Experience  

78%
8%
13%

Interview Difficulty  

Average Difficulty
24 candidate interviews
Relevance Date Difficulty
in

Accepted Offer

Positive Experience

Easy Interview

Check Processor Interview

Check Processor
Detroit, MI

I applied online and the process took a day - interviewed at Federal Reserve Bank of Chicago in February 2014.

Interview Details – It was very professional and went very well.

Interview Question – I did not have no difficult question   Answer Question

Negotiation Details – It was not none


No Offer

Neutral Experience

Difficult Interview

Facilities Interview

Facilities

Interviewed at Federal Reserve Bank of Chicago

Interview Details – Submitted online app and got a call 4 months later

Interview Question – How do you tell a client "no".   Answer Question


No Offer

Positive Experience

Difficult Interview

N/A Interview

N/A

I applied online and the process took 4 weeks - interviewed at Federal Reserve Bank of Chicago.

Interview Details – Fairly detailed. Went through two pre-screens and two separate panel interviews

Interview Question – A lot of questions about handling risk and working with people   Answer Question


2 people found this helpful

Accepted Offer

Positive Experience

Difficult Interview

Examiner Interview

Examiner
Chicago, IL

I applied through college or university and the process took 2 months - interviewed at Federal Reserve Bank of Chicago in January 2009.

Interview Details – You will start with phone interview. They will ask behavioral questions. They are looking for motivational fit. Those who are excited about the job and did some research on the position and the industry. They also want to make sure you will be a good teammate. Depending on when you are interviewed you may be asked to come in as part of a hiring day with 30-40 potential candidates vying for 10-15 positions. You will generally have three interviews. You will then be asked behavioral questions. They are looking for specific examples of times you demonstrated a competency they are looking for. For example, a time you were working as part of a team and someone wasn't pulling their weight. The hiring day is almost an all day affair. You may also have a lunch. Remember those you are having lunch with well also be evaluating you not just the people who interviewed you. Introduce yourself to as many Federal Reserve employees you can as anyone of them may be asked would you be a good hire or not. There is also a writing test they will give you a question, typically involving the financial industry and want you to write an essay on the topic. This is an important part of the evaluation.

Interview Question – Give a specific example of a time you had to think outside of the box.   Answer Question

Negotiation Details – Very little negotiation if this is for an entry level position like the one I was interviewed for. Their may be some negotiation for experienced staff depending on the skills that person brings and the organization's needs. The recruiters; however, get rearded for bringing you in as low as possible.


Accepted Offer

Neutral Experience

Easy Interview

Examiner Interview

Examiner
Chicago, IL

I applied online and the process took 4 months - interviewed at Federal Reserve Bank of Chicago in April 2011.

Interview Details – Phone interview followed by a day of interviews with a writing exercise (at least 3 months from the initial communication to the second) Offer followed within 4 weeks of the final interview

Interview Question – Questions were behavioral, very subjective   Answer Question

Negotiation Details – ALWAYS NEGOTIATE, THEY WILL LOW BALL YOU. MAKE SURE YOU KNOW THE MARKET SALARY RANGE AND MAKE THEM GO ON THE HIGHER SIDE OF THE MIDDLE


3 people found this helpful

Accepted Offer

Positive Experience

Easy Interview

Intern Interview

Intern
Chicago, IL

I applied online and the process took 4 weeks - interviewed at Federal Reserve Bank of Chicago.

Interview Details – Pretty easy interviewing process. Applied online and was contacted for an interview about 2 weeks later. One round, 50 min interview with the manager of the group and the group lead, who were very nice and warm throughout the interview. Mostly behavioral questions, the most technical that it got were questions about my work experience, but no questions that didn't come straight from my resume.

Interview Question – Nothing unexpected.   Answer Question


No Offer

Negative Experience

Difficult Interview

Cannot Disclose Interview

Cannot Disclose

I applied online and the process took 2 months - interviewed at Federal Reserve Bank of Chicago.

Interview Details – I applied online. Recruiter called me about a month later and told me I had the qualifications they were looking for. I had a brief follow-up binterview with the recruiter a week later. The recruiter gave me a date range for in-person interviews and told me to be available. Two weeks after that I was formally invited to an in-person interview.

Interview consisted of the following:
1) 45 minute essay writing sample.
2) then 45 minute meetings with different groups. One of the groups was the recruiter by himself.

Interview was typical behavior style questions. They basically want to make sure you will work well with the existing group/new hires. The only issue was during my interviews, the one with the recruiter (the same one that told me I had all the qualifications and gave me the "wink and nod" about the formal interviews) decided he was going to start vetting candidates right then and there.

Recruiter questions:
1) "You don't have an MBA, but have been out of school awhile. Why didn't you go back and get it or are you planning on getting it? I answered that I would be interested in getting one, but my number one priority would be my job responsibilities and if an MBA was required, then yes I would absolutely pursue one after hours. The recruiter made a weird face and said something along the lines of he's surprised I applied without one. I believe it was an ego play by the recruiter.
2) "Tell me about a challenge you have overcome." I explained a situation where I was given a problem to fix with no knowledge of what was happening by my employer other then "something is happening down there". I explained how it was a "fire drill" and I organized the task, raised a team, and overcame the challenge while establishing procedures to prevent it from happening again in the future. Recruiter then started asking very pointed questions such as, "Why would you take a project without knowing what is wrong? How is that possible?", "Why would you want to work for a company that doesn't tell you anything?" The recruiter was pretty tasteless and I did not want to trash talk my current employer, so I had to play my accomplishment down.

In summation, I really enjoyed the people I interviewed with except for the recruiter. I believe the recruiter treated me as a "filler spot" to show he was looking for candidates. When the recruiter called me to inform me I was not selected, he told me I didn't really have much experience for the position anyway. I don't see why a professional recruiter would use someone like this or take an "I'm better then you" approach.


No Offer

Negative Experience

Very Difficult Interview

Total Rewards Team Lead - HRIT Interview

Total Rewards Team Lead - HRIT
Chicago, IL

I applied online and the process took 2 weeks - interviewed at Federal Reserve Bank of Chicago in February 2013.

Interview Details – I was called about 6:30 PM in regards to setting up a phone interview two weeks later. On the date of the phone interview, the recruiter called me at the wrong time (a sign this would go badly). She asked me to describe me background and as I was speaking, I seemed to be boring her and she let out a HUGE sigh into the phone. She then rudely interrupted me and told me I wasnt what they were looking for - even though they contacted me. Horrible experience; would never look twice at this company.

Interview Question – No unexpected questions - but because of the rude recruiter who I spoke with, the one question I was asked wasn't clear.   View Answer


3 people found this helpful

Accepted Offer

Positive Experience

Average Interview

Associate Economist Interview

Associate Economist
Chicago, IL

I applied online and the process took 4 weeks - interviewed at Federal Reserve Bank of Chicago in February 2013.

Interview Details – A short (~30 minutes) phone interview a couple weeks after submitting my application. A couple weeks after that I was invited to come in an interview in person. There were 4-5 ~30 minute interviews with an economist or a pair of economists from various groups, as well as one interview with a pair of associate economists. They mostly wanted to know about past research experiences, experience with statistical software, and classes, roughly in that order.

Interview Question – Tell us about your past research   Answer Question


Declined Offer

Positive Experience

Very Difficult Interview

Senior Bank Examiner Interview

Senior Bank Examiner
Chicago, IL

I applied online and the process took 2 months - interviewed at Federal Reserve Bank of Chicago in February 2011.

Interview Details – There was an initial screening interview, followed by an interview with the hiring manager and then the invitation for a four hour marathon on-site interview. The initial screening interview was by telephone with the HR that lasted about 45 minutes. The next interview was with the hiring manager and was by telephone. It was after the interview with the hiring manager that I was invited to visit the Bank for the final interview process. It took four hours with different department heads and there was also a group interview.

Interview Question – How would you handle a difficult colleague?   Answer Question

Reason for Declining – I initially accepted but before I was to resume, my child fell ill and required surgery.

Interviews for Top Jobs at Federal Reserve Bank of Chicago

Worked for Federal Reserve Bank of Chicago? Contribute to the Community!

The difficulty rating is the average interview difficulty rating across all interview candidates.

The interview experience is the percentage of all interview candidates that said their interview experience was positive, neutral, or negative.

Your response will be removed from the review – this cannot be undone.