Federal Reserve Bank (NY) Reviews

Updated July 25, 2015
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110 Employee Reviews

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  1. Difficult environment fro developers

    • 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)

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

    Pros

    Currently they allow telecommuting which helps work life balance

    Cons

    Developers are considered by management as the bottom of the ladder and treated pretty poorly

    Advice to Management

    Work on helping Developers do their job support them instead of hindering their work give them the tools they need for to do their job and work on team building.


  2. Helpful (3)

    An organization that wants everything from you but will give you nothing in return.

    • 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) full-time

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

    Pros

    Very good benefits, internal gym and cafeteria. The gym is all new and a great place to let off stress after those 14 hour days.

    Cons

    One to two percent raises annually and no bonuses. Finance works with an antiquated financial system. No SAP or PeopleSoft finance systems here.

    Advice to Management

    Update your systems and do something about compensation to retain people.


  3. Helpful (2)

    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


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  5. Helpful (2)

    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.


  6. Helpful (1)

    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.


  7. 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.


  8. Helpful (1)

    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


  9. Helpful (1)

    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.


  10. 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.


  11. 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.



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