There are newer employer reviews for Federal Reserve Board

2 people found this helpful  

Beware

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
Current Employee - Financial Analyst in Washington, DC
Current Employee - Financial Analyst in Washington, DC

I have been working at Federal Reserve Board full-time (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 of the 20% "high performers", you will tread water economically with low raises with 70% of the staff at the "commendable" (nice way of saying average) level.)

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 are given bad reviews, with encouragement to quit. The internal webpage shows no one gets below commendable; do not believe it. The entire performance evaluation system is a true insult to workers who bravely try to meet impossible-to-satisfy expectations. Again, my fellow human beings--beware.

[To employees (current and future): As low-level managers will be taking notes for the PMP on computer, you must make sure to ask for a copy of any managerial documentation with your name on it. If denied, make note of the denial. Also, take assignments, do well on them, write a success list (for your own eyes only) so that you can update your resume and leave at will. Your heart, soul, and mind will thank you when you leave the building for the last time.]

Resistance to necessary change. Just because it worked in 1970 does not mean the exact practice must continue in the Internet era.

Excessive division between PHD and non-PHD staff. PHD staff advances; the rest languish.

Advice to ManagementAdvice

Complete transparency (that is, sunshine) should be standard operating procedure. Employees have a right to know if managers are making adverse decisions about their careers behind closed doors with a outside facilitator.

Forced distribution ultimately will cause systemic failure, requiring congressional attention to fix the mess.

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

66 Other Employee Reviews for Federal Reserve Board (View Most Recent)

Sort: Rating Date
  1.  

    The Federal Reserve is a serious and organized

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Intern in Washington, DC
    Former Employee - Intern in Washington, DC

    I worked at Federal Reserve Board as an intern (less than an year)

    Pros

    great experience, salary and benefits.

    Cons

    The atmosphere is fairly dull

    Advice to ManagementAdvice

    Renovate the building

    Recommends
    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Incompetent and lazy colleagues + bully managers

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

    I worked at Federal Reserve Board full-time

    Pros

    If you like not doing real work, you can get by. This one guy in our department shipped 2 lines of code in a whole quarter. 2 LINES! And he didn't get fired.

    Of course, this is really a con if... you know... you like providing value.

    Cons

    Almost every employee at the Board is either lazy or incompetent. Examples of laziness:

    1. Taking a two hour lunch break PLUS 1 hour coffee break consistently every day.
    2. Promising that your work is done, but not being anywhere really close.
    3. Taking months long vacations.

    Examples of incompetence:

    1. Shipping 2 lines of code in a whole quarter!
    2. Managers not really managing, just playing the political game of looking good. My manager would say anything, even say "Oh the project is going soooo well!". Total bs.

    Examples of bullying:

    This one lady we work with shouts at our daily standup EVERY SINGLE DAY. SERIOUSLY?

    Advice to ManagementAdvice

    I have no real advice for you, because you'd never follow it anyway. You're too concerned with looking good, playing nice to your own managers, and waiting for retirement. You need to fire slackers and the incompetents, but you'd never do anything to rock the boat.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
There are newer employer reviews for Federal Reserve Board

Work at Federal Reserve Board? Share Your Experiences

Federal Reserve Board

 
Click to Rate
or

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