There are newer employer reviews for Federal Reserve Bank of Chicago

1 person found this helpful

Great Benefits but very hierarchical and traditional - value loyalty and relationships over competence

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

I worked at Federal Reserve Bank of Chicago full-time

Pros

Great benefits, generous time off, relaxed work atmosphere, pension and 401K match, nice facilities, secure.

Cons

Value not rocking the boat, tradition, cultivating relationships and managing up. Silo'd and hierarchical. Staff do the work, managers make decisions - big divide. Loyalty and itenure rewarded with advancement even if don't have necessary skills or experienice.

Advice to ManagementAdvice

Too insulated and out of date. Reward results and hold "nice" people accountable if don't get results.

Recommends
Neutral Outlook
Approves of CEO
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  1. 2 people found this helpful

    Just because the benefits are good, does not mean its a good place to work

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

    I have been working at Federal Reserve Bank of Chicago

    Pros

    Pension (But why would anyone work here for more than 3 years?), Tuition Reimbursement, Gym, Subsidized Cafeteria

    Cons

    Red Tape, Meetings, Meetings, Meetings, Slow Decision Making Process, Pretty uneducated and ill qualified management personnel who moved up the ranks for 30 years, very old culture...super boring industry

    Advice to ManagementAdvice

    How about not wanting to meet for everything all the time. And make some decisions without having to talk over things for months. Definately need to become a bit more competitive with Salary as well.

    Doesn't Recommend
    Disapproves of CEO
  2. 1 person found this helpful

    Great position to gain knowledge in training program

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

    I worked at Federal Reserve Bank of Chicago

    Pros

    Great training program with numerous tests and on-site training. Great position to gain experience in the business, but to gain more opportunities you'll need to go elsewhere.

    Cons

    Travel is excessive, Monday-Thursday weekly. Management is incompetent, promoted mostly based on time with the company and anyone worthwhile seeks employment elsewhere. Overall lazy employees with a lot of paperwork.

    Advice to ManagementAdvice

    More bonuses based on performance.

    Doesn't Recommend
    No opinion of CEO
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