FDIC Reviews

Updated March 25, 2015
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4.1
161 Reviews
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Approve of CEO
FDIC Acting Chairman Martin J. Gruenberg
Martin J. Gruenberg
52 Ratings

Pros
  • Work life balance is part of the culture (in 17 reviews)

  • Other positives include the work-life balance (40 hour work week) and great benefits (in 16 reviews)

Cons
  • If you come from the private sector your peers are not as knowledgeable and act very defensive (in 9 reviews)

  • Also, being the government, decision making happens at a snails pace (in 7 reviews)

More Pros and Cons

Employee Reviews

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  1. I had a great experience working for the FDIC as a financial institution intern over the summer!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Financial Institution
    Former Intern - Financial Institution

    I worked at FDIC as an intern (less than a year)

    Pros

    I'd recommend an internship here to any business undergrad because you receive competitive pay, have a flexible work schedule (with mostly all 3 day weekends), work with people who are very willing to help you, and have the opportunity to come back and intern over future school breaks.

    Cons

    I traveled frequently while working here. This could be a pro/con depending on your perspective. I was given a reasonable amount of responsibility for an intern, but I still found myself twiddling my thumbs more than I preferred.

    Advice to ManagementAdvice

    For the internship program, management could do a better job of giving interns a consistent supervisor/mentor to report to. I enjoyed working with a new team of people every exam because it helped me get to know everyone at the office, but designating a specific mentor or supervisor for each intern would be beneficial.

    Recommends
    Neutral Outlook
    No opinion of CEO
  2. Resolutions and Receivership Specialist

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Resolutions and Receivership Specialist in Irvine, CA
    Former Employee - Resolutions and Receivership Specialist in Irvine, CA

    I worked at FDIC

    Pros

    Interesting work and challenging responsibilities

    Cons

    Considerable uncertainty with respect to when assignments are scheduled

    Advice to ManagementAdvice

    Include seasoned talent with new hires to provide better understanding of organizational structure

    Recommends
    Neutral Outlook
    Approves of CEO
  3. Strategically directed and reported government operations teams in redirecting banking operations.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Strategic Operations in Irvine, CA
    Former Employee - Strategic Operations in Irvine, CA

    I worked at FDIC

    Pros

    I believe the the best reasons for working with or for the FDIC was the collaboration with many different financial shareholders. Each bank closing or reassignment had several part or different challenges that had to be addressed and or decided on. The spirit of cooperation from almost all parties looking to contribute to resolving issues.

    Cons

    Sometimes the prior staffing lacked motivation to help with continued success of the bank transition.

    Advice to ManagementAdvice

    Very effective training and guidance and I enjoyed my time with the FDIC.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5. Limited potential for advancement; Difficult to obtain a permanent position

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Resolutions and Receivership Specialist in Dallas, TX
    Current Employee - Resolutions and Receivership Specialist in Dallas, TX

    I have been working at FDIC full-time (more than 5 years)

    Pros

    Good benefits! A lot of choices for health plans, 401(k) with matching, eligible for both FDIC and the government 401(k) plans; after 5 years vested in the pension, vacation, holidays; diversity is important and a balanced work-life is encouraged. Longevity plays a big role in receiving much higher-value benefits. Salaries are great compared to other government agencies and comparable to private industry. If you are young and just starting out or older and want to start over, I recommend applying for the CEP program. You will have a job for life.

    Cons

    Unless you have "status" (i.e. full-time, permanent employment) or you are a veteran, chances of your resume being seen by anyone are <5%. If you are in Washington, D.C., or willing to relocate, your chances are a little better. While there are some really smart people working there, you will mainly be working with either long-timers who do well to perform as "average" or inexperienced people coming out of CEP training to be your future manager. "They" say they select the "Best Qualified" people, but that is impossible if they don't consider ALL qualified applicants.

    Advice to ManagementAdvice

    Thank you, Director Edwards for your on-going and honest assessment of the employment situation. No other company would dare do what you have done. You have my utmost respect. Advice: Place people in management positions who are qualified to manage and lead. This comes from experience and training; not a CEP student with 6 months of observation nor does it come from promoting for convenience, obligation or friendship.

    Recommends
    Negative Outlook
    No opinion of CEO
  6. Good experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Financial Management Scholar in Houston, TX
    Former Intern - Financial Management Scholar in Houston, TX

    I worked at FDIC as an intern (less than a year)

    Pros

    Great work life balance; opportunities for travel and compensation for travel

    Cons

    While good for a government job, still significantly lower than private sector

    Recommends
    Positive Outlook
    Approves of CEO
  7. FDIC is a GREAT place to work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Accountant in Arlington, VA
    Current Employee - Senior Accountant in Arlington, VA

    I have been working at FDIC full-time (more than 10 years)

    Pros

    Outstanding compensation, 2 401K programs that are both matched, a further pension (FERS) which is earned after retirement, pay scale at the top of the Federal Government. Excellent work-life balance, with good exercise facilities in house in Washington

    Cons

    Huge generational gap. Vast group of employees 50 and older, with a small percentage of employees 30 and under.

    Advice to ManagementAdvice

    Keep on hiring younger people.

    Recommends
    Positive Outlook
    No opinion of CEO
  8. Right job for some, but only if you can handle being on the road

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Financial Management Scholar in Springfield, MA
    Former Intern - Financial Management Scholar in Springfield, MA

    I worked at FDIC as an intern (less than a year)

    Pros

    -Work-life balance was great in terms of hours spent working at the banks. 40 hour work week, and got paid per diem for each day spent on the road (which could be well over $200 a week).
    -Overall compensation was more than satisfactory.

    Cons

    -It's a very political organization. Performance reviews are essentially useless. What's the point of them if employees can't be rated more than a 3 out of 5? Promotions (and pay raises) seem to be handed out to those who were buddies with management.
    -Examiners spend anywhere from 50% to 80% of their time traveling, and it can start to wear on you. This definitely affects work-life balance.

    Advice to ManagementAdvice

    Be honest with what the position entails when offering jobs. Don't misrepresent the organization.

    Doesn't Recommend
    Disapproves of CEO
  9. Comfortable job with little growth potential

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Resolutions and Receivership Specialist in Dallas, TX
    Former Employee - Resolutions and Receivership Specialist in Dallas, TX

    I worked at FDIC full-time (more than 3 years)

    Pros

    This review is for Resolutions and Receiverships. Most comfortable/secure job you'll ever have, decent pay considering work hours, can be paid 1.5x overtime for more than 40 hour work weeks, benefits were best I've seen, travel cost reimbursement was simple and quick, per diem on travel may be kept (no use it or lose it), lots of other incentives for just showing up

    Cons

    no real merit system (was rated a 4 and 5 out of 5 and received the same bonuses/raises as people rated 3), can be very boring during strong economic cycles, people get away with and often publicly state they are doing little to no work, extremely political organization, counterintuitive work for people programmed to seek profits,

    Advice to ManagementAdvice

    Changing the employee evaluation system to more accurately reflect and reward the great efforts of employees rather than reward all employees regardless of contribution would make this a much better place to work. I was tired of hearing "you can do anything you want if you stay long enough" because the timeline was stretched over 30 years and did not equate to rapid development and growth, which is a huge selling point of working in private sector jobs.

    Recommends
    Neutral Outlook
    Approves of CEO
  10. 1 person found this helpful

    FDIC

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

    I have been working at FDIC

    Pros

    Great benefits! nice place to work

    Cons

    none, none, none, none, none

    Recommends
  11. Great lifestyle

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

    I have been working at FDIC full-time (more than 3 years)

    Pros

    Nice people. Reasonable work/life balance. Interesting and fulfilling work.

    Cons

    Government bureaucracy at times. Inflexible monitoring of hours. Vacation and other perks based on time with government, not as a professional.

    Advice to ManagementAdvice

    Treat people as individuals and move management into this century. A bit more reward for performers and less slack given to people who should retire.

    Recommends
    Positive Outlook
    No opinion of CEO

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