Federal Reserve Bank of Chicago

  www.chicagofed.org
  www.chicagofed.org
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There are newer employer reviews for Federal Reserve Bank of Chicago

 

Great Summer Experience

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Career Opportunities
Current Employee - Intern  in  Chicago, IL
Current Employee - Intern in Chicago, IL

I have been working at Federal Reserve Bank of Chicago

Pros

Great Intern Lunches, Interesting Projects and Company Presentations

Cons

Politics and lack of work to do sometimes

Advice to ManagementAdvice

Great team leaders and very helpful

Recommends
Approves of CEO

49 Other Employee Reviews for Federal Reserve Bank of Chicago (View Most Recent)

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  1. 3 people found this helpful  

    You have to be the "right" kind of person to get opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Anonymous Employee  in  Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL

    I worked at Federal Reserve Bank of Chicago

    Pros

    Good benefits. That's what keeps people there.

    Cons

    * Poor management - Managers will throw you under a bus at the drop of a hat. If they aren't a puppet, they are managing by fear and intimidation. Those who ARE good managers are just CYA, protecting their own hides and positions.
    * No opportunity for advancement or development, unless you a certain kind of person

    Advice to ManagementAdvice

    Hard to give advice to a group of people who won't listen.

    Doesn't Recommend
    No opinion of CEO
  2. 5 people found this helpful  

    Bureaucratic, unmotivated, poorly managed career sinkhole.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Central Bank Services - Statistics and Reserves Analyst  in  Chicago, IL
    Current Employee - Central Bank Services - Statistics and Reserves Analyst in Chicago, IL

    I have been working at Federal Reserve Bank of Chicago

    Pros

    If you are a Chosen Person, such as someone who has attended a prestigious school (Only the best of the Ivys) then you will be give all the opportunity in the world to advance your career as far as you see fit. The Federal Reserve Bank of Chicago is also a prime work environment if all you care about is putting in minimum effort and collecting some of the best benefits in the nation for you and your family.

    Cons

    The dominating management philosophy at the Federal Reserve Bank of Chicago (especially in Central Bank Services) is "CYA". This is not a place for innovation of any kind, it is a place where ideas go to die.

    Raises are less than inflation, by design.

    The culture is stifling, cubicled and siloed. Management is basically the Pointy-haired boss from Dilbert without the humor. Expect the "reorganize" tactic to be employed often.

    When there is a bad apple, such an employee who actively seeks to harm other employees, it will take months... possibly years for them to be fired. An example of the blindness of management is when they made an employee "Employee of the Month", they then fired him 9 months later. No employee has been employee of the month for years before that award or for years after.

    You will literally be forced to sit in meetings where you are not expected to talk or contribute. Often these meetings will have nothing to do with you.

    Advice to ManagementAdvice

    Reorganization does not solve problems.

    Truly seek to develop your employees, not just those who have been to Harvard. Sending people to a class every year or two is throwing a dog a bone and not a real commitment and everyone knows it.

    Yearly performance reviews only demoralize your staff and are one way lectures at best. The idea that employees must be marked down after previously receiving a promotion is ridiculous.

    Do not put technically incompetent people in charge.

    Your culture is stale, a sorry mash up of 90's era "casual workplace" ideas and groupthink mentality. You cannot change this with a committee if your hearts aren't in it. And no, your hearts are clearly not in it.

    Doesn't Recommend
    Disapproves of CEO
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