Federal Reserve Board

  www.federalreserve.gov
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51 Employee Reviews (View Most Recent)

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Can't beat the view

Analyst (Current Employee) Washington, DC

ProsNo Title 5 to worry about, so sequestration does not affect us. Benefits are through the roof (have never seen a retirement package and 401k/thrift plan as generous). Salaries are respectable, but lag other Federal Regulators (FDIC, OCC, CFPB) by 25%. Work-Life balance is excellent and family indeed comes first. Plenty of training and developmental opportunities available, just need to ask. Has been a fair amount of churn in leadership and division officers that "we've always done it this way" is on it's way out the door. The culture is collegial and the only employees referred to by title are the seven Governors; everyone else is first-name basis.

ConsAs mentioned, the salaries are lower than other regulators and promotions can be tough as there are few manager and officer spots available due to the flatness of the Board. The pace is excruciatingly slow for anyone coming from private sector and can be enough to drive someone to quit. Almost every decision requires a consensus vote and generating support can take months, if not years. This covers everything from volunteering for a team (you need permission from your boss) to passing out cash awards (consensus votes) to major changes in operational policies (requires so many approvals you ask yourself if it's worth the trouble).

Advice to Senior ManagementLet your managers and supervisors manage; get them away from day-to-day tasks that staff can do. You tell me I'm budgeted at X% of salary for cash awards, yet no one can tell me how I earn that. And why, oh why, do you sit on this until December? If I hit a homerun in April, what are you waiting for? Also, you are overstaffed. Too many people sitting around waiting for something to do.

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

    • Approves of CEO

     

    Great learning experience

    Anonymous Employee (Current Employee)

    I have been working at Federal Reserve Board


    Pros: Talented colleagues with diverse skill sets, good pay, supportive managers/officers, decent work-life balance,… Cons: lack of over-time pay, mediocre cafeteria, turnover, under-staffing issues, lack… Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company… More
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    Beware

    Financial Analyst (Current Employee) Washington, DC

    I have been working at Federal Reserve Board full-time for more than 3 years


    Pros: Prestige (for what it's worth), adjacent to National Mall, OK cafeteria, annual leave, insurance (health, dental, vision), raises available (but if you are not one… Cons: Performance evaluations (that is, the dreadful so-called PMP) use the forced distribution, or "rank and yank" method. Google it; forewarned is forearmed. A set percentage… Advice to Senior Management: Complete transparency (that is, sunshine) should be standard operating procedure. Employees have a right to know if managers are making adverse decisions… No, I would not recommend this company to a friend More
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