Federal Reserve Bank (NY) Reviews

Updated June 25, 2015
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107 Employee Reviews

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  1. Helpful (1)

    Weak mgmt and low morale in Markets Group

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

    I worked at Federal Reserve Bank (NY) full-time (More than 8 years)

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Highly capable and intelligent staff, good work-life balance

    Cons

    Staff is frequently left out of major policy and organizational initiatives
    Mgmt that is highly secretive and ineffective creates atmosphere of mistrust w/ staff
    Grossly underutilized talent at staff level feel under appreciated, alienated and leave
    Not meritocratic enough - star system favors those w personal relationships to senior mgmt.
    Middle and senior mgmt are highly defensive, bureaucratic and resistant to new ideas
    Mgmt rarely is accountable for setbacks or failed initiatives - staff is often scapegoated
    Compensation is well below market norms

    Advice to Management

    Trust your staff and be straight with them
    Be upfront about uncertainty
    Utilize the immense talents of your staff to keep them engaged
    Take ownership and be more accountable when things goes badly - not just when they go well


  2. Helpful (1)

    Can't get out of its own way

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

    I have been working at Federal Reserve Bank (NY)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Good benefits. Promotes awareness of purpose, mission and history of the Fed.

    Cons

    The bureaucracy, politics and pace of change are terrible. Despite significant turnover in senior leadership, the organization retains an antiquated, distrustful and deceptive management style. Poor job of fostering teamwork and utilizing talent. Very inefficient practices and policies. Structure is overly hierarchical, controlling and risk averse. Fear of failure inhibits progress.


  3. Great place to work, but the office politics are ridiculous

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

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

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Excellent benefits and salary, great working environment and fantastic people to work with.

    Cons

    Office politics are just as bad, if not worse, than in other corporate environments.

    Advice to Management

    Management should foster and nurture the more talented individuals in their departments in favor of the more sycophantic elements in your offices.


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  5. Fed offers great benefits but is many years behind the times

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

    I worked at Federal Reserve Bank (NY)

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    The benefits are great including: high quality health and dental plans, retirement/pension, and work/life balance

    Cons

    Culturally the Fed is out of sync with the times. It is swollen with politics and bureaucracy, adverse to new and creative ideas, and seeks to maintain the status quo.

    Advice to Management

    Teaching diversity is not the same as embracing it.


  6. Great place

    • Work/Life Balance
    Former Employee - Director in New York, NY
    Former Employee - Director in New York, NY

    I worked at Federal Reserve Bank (NY)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Pride of working for the Fed. very flexible policies

    Cons

    No bonus because it is non-profit

    Advice to Management

    None


  7. regulatory reporting

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Bank (NY)

    Pros

    pros include continued learning, growth, exposure

    Cons

    the salary is a con.


  8. Nice Place to Work

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

    I have been working at Federal Reserve Bank (NY)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Stress Free environment with good benefits

    Cons

    Filled with former Wall Street crowd who were laid off.


  9. Very satisfying place to work, both professionally and personally.

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

    I worked at Federal Reserve Bank (NY)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Colleagues are often very intelligent and motivated by a strong sense of mission. Flex time available to all employees. Benefits are terrific. You feel good about working there.

    Cons

    The organization can be slow to move on things, particularly non-performing employees.


  10. Helpful (1)

    I was disappointed with the leadership behaviors I observed in the Bank; it is certainly not the firm that I had hoped i

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

    I worked at Federal Reserve Bank (NY)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Work life balance. Smart people. Diverse businesses but they are silo'd.

    Cons

    Leadership from mid-level to the c-suite is absent. I observed leaders advancing personal agendas under the auspices of "meeting the mission" of the Fed. Work is performed based upon relationships rather than structure.

    Advice to Management

    I would clear out all of the HR officers and many of the c-suite leaders. The bank operates as silo'd business lines rather than one enterprise.


  11. Stay away from Statistics

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

    I worked at Federal Reserve Bank (NY)

    Pros

    Good people. That's about it.

    Cons

    Management needs to get this ship in order. It's sinking.



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