Federal Reserve Bank (NY)

  www.newyorkfed.org
  www.newyorkfed.org

Federal Reserve Bank (NY) Reviews

Updated October 4, 2014
Updated October 4, 2014
94 Reviews
3.3
94 Reviews
Rating Trends

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

Review Highlights

Pros
  • The work-life balance is generally good and the pension looks ok (in 26 reviews)

  • It has a great benefits package and also a 401k which is matched dollar by dollar (in 10 reviews)


Cons
  • Computer system/apps/processes are cumbersome and outdated compared to the private sector (in 9 reviews)

  • In other words, many managers (particularly in Bank Supervision) lacked leadership skills (in 4 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Bank Examiner in New York, NY
    Current Employee - Bank Examiner in New York, NY

    I have been working at Federal Reserve Bank (NY) full-time (more than an year)

    Pros

    Great 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.

    Cons

    Low morale in certain groups, bureaucratic

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    Structurally solid, internally unfair at the micro-level

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

    I have been working at Federal Reserve Bank (NY) full-time

    Pros

    Time-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.

    Cons

    Bureaucratic. 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 ManagementAdvice

    See 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.

    Recommends
    Neutral Outlook
    No opinion of CEO
  3.  

    It isn't that great

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

    I have been working at Federal Reserve Bank (NY) full-time

    Pros

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

    Cons

    Old technology
    Very boring business
    Very little growth
    Less pay

    Advice to ManagementAdvice

    Grow your people more

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5.  

    Corporate

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

    I have been working at Federal Reserve Bank (NY) full-time (more than 3 years)

    Pros

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

    Cons

    Some pockets of the bank are in a time warp

    Advice to ManagementAdvice

    Continue to build and implement leadership principles and dimensions

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Great for fresh out of college students who wants intellectual atmosphere

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Research Analyst in New York, NY
    Current Employee - Research Analyst in New York, NY

    I have been working at Federal Reserve Bank (NY) full-time (more than an year)

    Pros

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

    Cons

    low pay relative to industry;

    Recommends
    Neutral Outlook
    Approves of CEO
  7.  

    Great Place To Work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Summer Analyst in New York, NY
    Former Employee - Summer Analyst in New York, NY

    I worked at Federal Reserve Bank (NY) full-time (less than an year)

    Pros

    Challenging, intelligent people working here. Great perks too

    Cons

    work-life balance suffers through challenging times

    Advice to ManagementAdvice

    More recognition to lower-level associates

    Recommends
    Neutral Outlook
    Approves of CEO
  8.  

    Great place to work, poor management

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior IT Support Analyst in New York, NY
    Former Employee - Senior IT Support Analyst in New York, NY

    I worked at Federal Reserve Bank (NY) full-time (more than 10 years)

    Pros

    The people are friendly and are willing to help out if you ask. Flexible schedule in some department. Opportunity to grow. Great benefits!

    Cons

    Management needs training. Won't listen to employees input. Don't ask for a raise, you won't get one.

    Advice to ManagementAdvice

    Get training in how to deal with employees. Pay attention to employee's concern when it comes to work.

    Recommends
    Approves of CEO
  9.  

    Great Company Too Work For!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - I/T Support Analyst B in East Rutherford, NJ
    Current Employee - I/T Support Analyst B in East Rutherford, NJ

    I have been working at Federal Reserve Bank (NY) full-time (more than 10 years)

    Pros

    The employees are very friendly. It has a great benefits package and also a 401k which is matched dollar by dollar. Medical benefits begin on the day you're hire which includes two-weeks vacation for the first year. People are willing to help you out if it's your first time working at the bank.

    Cons

    For me, it was the travelling. My department located to East Rutherford, New Jersey from New York, therefore, making my commute more difficult. 2 trains and 1 bus to go. 4 trains to come back. That's the only thing I did not like. It took me 1 1/2 hrs to get there and back. By car, it takes 25 minutes. You spend more on gas and tolls and wear and tear on your car.

    Advice to ManagementAdvice

    Listen to employees ideas and creativity. This will help the company in the long run.

    Recommends
    Neutral Outlook
    Approves of CEO
  10. 3 people found this helpful  

    Mindless bureaucratic process driven organization, particularly in FISG.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Bank Examiner in New York, NY
    Current Employee - Senior Bank Examiner in New York, NY

    I have been working at Federal Reserve Bank (NY) full-time (more than an year)

    Pros

    -Flexible Fridays.
    -Not much else to say.

    Cons

    -Venus fly-trap/Proverbial roach motel.
    -Form over substance (this is actually their trademark)
    -Bureaucratic, process driven organization.
    -Constant turnover, with the professionally competent individuals leaving within months to couple of years.
    -Incompetent management, both in terms of their understanding of market and finance as well as people management.
    -Low pay is a reflection of the value-added of the work that you do, which is very low, hence the low pay.
    -Overworked staff, doing mostly useless work.

    Advice to ManagementAdvice

    You need to better match the individuals to the jobs assigned and general nature of the job at the Fed: no point in getting market professionals with 20 years of industry experience and higher educational credentials when in fact the only thing you value is the inbred process work of the Fed and regulatory community. For the type of work that you expect your employees to do, the more junior and intellectually less capable individual would be a better fit.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    I really enjoyed working at the federal reserve bank

    Current Employee - Customer Service Representative in Dallas, TX
    Current Employee - Customer Service Representative in Dallas, TX

    I have been working at Federal Reserve Bank (NY) as a contractor (more than an year)

    Pros

    My co-workers and supervisor were very professional

    Cons

    I wish they had some permanent positions

    Recommends
    Positive Outlook
    Approves of CEO

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