Federal Reserve Bank (NY)

  www.newyorkfed.org
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Federal Reserve Bank (NY) Reviews

Updated Jul 27, 2014

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All Employees Current Employees Only

3.3 88 reviews

81% Approve of the CEO

Federal Reserve Bank (NY) President & CEO William C. Dudley

William C. Dudley

(36 ratings)

68% of employees recommend this company to a friend

Review Highlights

Pros
  • Time-Off policies and overall work-life balance truly mimic the standard they've set for themselves (in 25 reviews)

  • Flexible work arrangements and very good work/life balance (in 7 reviews)


Cons
  • The latter is not as steep as it is in private sector jobs and the pay is less (in 7 reviews)

  • Low pay is a reflection of the value-added of the work that you do, which is very low, hence the low pay (in 4 reviews)

More Highlights
88 Employee Reviews
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Hidebound Bureacracy

    Bank Examiner (Former Employee) New York, NY

    ProsFlex Fridays - every other Friday is a day off. The work-life balance is generally good and the pension looks ok.

    ConsAlmost everything else - Managers are terrible. Most employees are lifers that haven't worked anywhere else and know nothing about life outside the Fed. Incredibly hard to get promotions without being part of someone's inner circle. The level of bureacracy is overwhelming.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Objective review of working at the FRBNY (supervision group)

    Bank Examiner (Current Employee) New York, NY

    ProsGreat work life balance (9-5, every other Friday off, bank holiday schedule), great benefits (pension, health benefits, retirement savings account match), generally low stress environment but depends on manager/group, as close to job security as you can get without being a pure government/union job, decent pay, good opportunity to learn a lot, looks good to have the Fed on your resume

    ConsYou can likely earn a lot more money if you go to a private institution (bank or consulting firm), it can sometimes be quite bureaucratic, you can be stuck with a crappy manager (though this can apply at any job), some people are just flat out eccentric, and it bears repeating: you can earn a lot more money elsewhere

    Advice to Senior Managementthe only way to improve morale is to pay more

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Well-paid and stable job, but limited upward mobility

    Senior Analyst (Current Employee) New York, NY

    ProsCompetitive pay, very good work-life balance, excellent retirement benefits, excellent job security

    ConsFew opportunities for advancement. Many at the Bank have been in the same exact position for over 15 years. Other than the Research Department, almost the entire Bank is primarily focused on operational work as opposed to analytical work. This means that there are few opportunities for talented individuals, individuals with advanced degrees to grow and maximize their potential. There is a management track for talented individuals, but the work that managers get to oversee is mostly very routine operational work.

    Advice to Senior ManagementI think that in order to retain the best talent, the Bank needs to create a track for analysts such that analysts can rise to the highest levels without having to switch to being a manager.

    Yes, I would recommend this company to a friend

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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Amazing place to work

    Anonymous Employee (Former Employee)

    ProsSmart people. Meaningful work. Amazing work life balance

    ConsThe salaries are slightly lower than industry.

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great access to cross firm information and high ranking individuals but bureaucratic

    Bank Examiner (Current Employee) New York, NY

    ProsGreat access to a good learning environment, good for self staters and people who are in inquisitive. Great work life balance. Every friday off all year long cannot be stressed enough.

    ConsLow morale in certain groups, bureaucratic

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Structurally solid, internally unfair at the micro-level

    Financial Analyst (Current Employee) New York, NY

    ProsTime-Off policies and overall work-life balance truly mimic the standard they've set for themselves. They claim to value work-life balance and they follow through perfectly; flex days (though some don't have it), moving days, vacation, sick.

    ConsBureaucratic. In most cases, hard work is overlooked on the annual review and promotional review. Networks and fluff words make up the bulk of the crop in management. Excelling at your role is processed as a negative (he/she should stay put, there is no managerial place for them).

    Advice to Senior ManagementSee through the fluff and 'presence' of those you promote. You end up in a circle of talk filled with buzzwords and no action. Improvement takes hard work, not just artificial projects which have a pre-determined outcome. Lose the fear of rocking the boat. You can challenge from within, without being offensive to those who've established the status quo.

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    It isn't that great

    Anonymous Employee (Current Employee)

    ProsGood place for work life balance.
    Great benefits and retirement account funding.
    Pension plans.
    Good fair place

    ConsOld technology
    Very boring business
    Very little growth
    Less pay

    Advice to Senior ManagementGrow your people more

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Corporate

    Anonymous Employee (Current Employee)

    ProsExcellent value proposition; challenging & rewarding work, very smart people and contributing to the health of the economy

    ConsSome pockets of the bank are in a time warp

    Advice to Senior ManagementContinue to build and implement leadership principles and dimensions

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great for fresh out of college students who wants intellectual atmosphere

    Research Analyst (Current Employee) New York, NY

    ProsFlexible hours; management encourages take classes through the bank's tuition reimbursement programs; focused on skills development

    Conslow pay relative to industry;

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Great Place To Work

    Summer Analyst (Former Employee) New York, NY

    ProsChallenging, intelligent people working here. Great perks too

    Conswork-life balance suffers through challenging times

    Advice to Senior ManagementMore recognition to lower-level associates

    Yes, I would recommend this company to a friend

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