There are newer employer reviews for Federal Reserve Bank of San Francisco
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Helpful (4)

LDP Program from a graduates perspective

  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - LDP, Then Manager in San Francisco, CA
Former Employee - LDP, Then Manager in San Francisco, CA

I worked at Federal Reserve Bank of San Francisco full-time (More than 3 years)

Doesn't Recommend
Neutral Outlook
Approves of CEO
Doesn't Recommend
Neutral Outlook
Approves of CEO

Pros

So we all can see the FRB has good benefits,work like balance, and awesome mission. It is a place where the culture is very safe, and more value is placed on attention to detail, than thinking outside the box. The Fed moves very slow and takes a long to make a decision, but when a decision is made it is likely vetted, and very safe. This is a Pro for someone that is slower moving, and a Con for someone that wants things done yesterday.

LDP program is pretty tough, and will force you to adapt to the Fed way, or you will fail. It is a roller coaster of emotion, and for those that do make it through are very well equipped to be successful in "Fed Style" management. Many times I asked myself "what the hell are you doing", but it did make me a much more analytical thinker, and to this day my deliverables far exceed those of my peers.

Comments about women not being successful is not true at all, most of the VP's and GVP's are women. Almost all Officers at that level are actually extremely competent.

Cons

You will always wear the moniker of an LDP, and settling in to a job making 100k and flying under the radar is not possible. You are always looked at and ridiculed because most employees do not understand the program, and think you were given a free ticket to management. The fact is you have to work harder and most if not all LDP's have top tier MBA's and valuable experience.

"Paralysis by analysis" is a term often used at the FRB, and it is well known that the majority of senior managers could not be successful in other organizations due to the culture being so unique. Most truly exceptional employees do not stick around.

Advice to Management

I have heard from friends that the First VP is retiring, and this may be an opportunity to change the leadership program and cultural. Although I personally have a great deal of respect for most SVP level leaders, this is an opportunity to change the culture, and start getting rid of some of the dead weight in middle management. The mission is awesome, so

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  1. Helpful (5)

    Could be a great place, but...

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Manager
    Current Employee - Manager

    I have been working at Federal Reserve Bank of San Francisco full-time (More than 8 years)

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Great colleagues. Work life balance. Exciting and challenging job opportunities.

    Cons

    Lack of integrity from those you'd expect it most: senior leadership. More gossip than in a middle school cafeteria.


  2. Helpful (5)

    Lets Be Clear- People work at places for more than "Great Benefits"

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in South San Francisco, CA
    Former Employee - Anonymous Employee in South San Francisco, CA

    I worked at Federal Reserve Bank of San Francisco full-time

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    I'd agree that the benefits were great, but I would challenge you all to ask yourself if health and retirement benefits, if you last that long in the dysfunctional culture, should be such prominent factors in why people stay at the SF Fed?

    Cons

    One of the largest challenges with the SF Fed is its culture on the operations side of the house specifically. I have seen it on numerous occasions, where Sr. Managers there go along to get along, even when they see and are privy to wrongdoing/bias. This calls into question worker integrity from those you should expect it most. Lack of leadership on this dimension was an issue for me.

    Beyond the fact that I was truly interested in advancing the mission of the SF Fed, seeing this behavior was enough for me to decide to leave...consciously knowing that the org dynamics were in conflict with my values.

    Advice to Management

    I would suggest you start with being receptive to honest feedback from your employees about the cultural issues that exist within the organization. Addressing the issues raised starts by acknowledging the other individuals point of view.


There are newer employer reviews for Federal Reserve Bank of San Francisco
There are newer employer reviews for Federal Reserve Bank of San Francisco

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