Federal Reserve Bank of Cleveland

www.clevelandfed.org

Federal Reserve Bank of Cleveland Reviews

Updated January 28, 2015
Updated January 28, 2015
23 Reviews
3.3
23 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Federal Reserve Bank of Cleveland President and CEO Sandra Pianalto
Sandra Pianalto
11 Ratings

Employee Reviews

Sort: Popular Rating Date
  1.  

    Great Experience - Would Recommend

    • Comp & Benefits
    • Culture & Values
    • Career Opportunities
    Former Employee - Community Development Intern in Cleveland, OH
    Former Employee - Community Development Intern in Cleveland, OH

    I worked at Federal Reserve Bank of Cleveland as an intern (less than a year)

    Pros

    This is a great place for an intern. The projects I did over the summer were very engaging and I gained valuable experiences to add to my resume. Everyone in the organization I encountered was willing and excited to talk to me about their roles in the company, share career advice, and offer assistance. It's a great culture to work in and whether supervisors were directly overseeing interns or not, everyone was committed to ensuring that my internship experience was first class.

    Cons

    At times I felt as though I got lost in the mix of the department because "regular" employees had so much on their plate that I pushed aside a bit. Once I asked for more work and offered to help, people were more than willing to share some work.

    Recommends
    Positive Outlook
  2.  

    Intern

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Bank of Cleveland

    Pros

    Very well structured and interesting internship program
    Large focus on networking and planning ahead

    Cons

    Work could get a bit monotonous

  3.  

    Well trained, well-compensated, but expertise is not widely applicable.

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

    I worked at Federal Reserve Bank of Cleveland full-time (more than 3 years)

    Pros

    Extensively trained, fairly compensated, great benefits, many opportunities for upwardl and horizontal movement within the organization great for people who are planning to stay there for the entirety of their career, or wrap up their career.

    Cons

    A great deal of travel, management is hit or miss, skills obtained are not widely applicable outside the world of banking regulation.

    Recommends
    Neutral Outlook
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. 1 person found this helpful  

    Good pay but boring

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

    I worked at Federal Reserve Bank of Cleveland

    Pros

    The pay is competitive for the industry, and the people are what make it a nice place.

    Cons

    If you're not interested in banking and work in one of the side-sections of the organization it will be boring.

    Advice to ManagementAdvice

    Don't be so stuffy

    Recommends
    Neutral Outlook
    Approves of CEO
  6. 1 person found this helpful  

    Great people contributing to the vision, mission and high priority objectives of the FRBC and the FRS.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Manager in Cleveland, OH
    Current Employee - Manager in Cleveland, OH

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

    Pros

    Strong ethics and values that permeate the way work is performed throughout the Bank. New strategic vision is clear and is helping to set the direction for the next few years, A blend of day-to-day work and new initiatives to keep it fresh and challenging. Great benefits (pension, thrift, workout center, etc.) and even better people. My leadershipteam is flexitble and provides reasonable worklife balance.

    Cons

    Nearby cheap parking is becoming scarce due to the reinvigoration of downtown Cleveland.

    Advice to ManagementAdvice

    Keep the focus on key actionable objectives that can be achieved!

    Recommends
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    intern

    • 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 of Cleveland as an intern

    Pros

    people are friendly and you meet a lot of great people

    Cons

    the culture is very conservative, which can be challenging

    Recommends
    No opinion of CEO
  8.  

    Pretended to care about the employees but upper management only cared about keeping their job. Back stab organization.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst in Cleveland, OH
    Former Employee - Analyst in Cleveland, OH

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

    Pros

    Great benefits! Healthcare - Medical & Dental, HC/DC FSA outstanding

    Cons

    Organization can't move forward, difficult for them to make decisions, no promotion opportunity from within. They fill open positions with outsiders who don't know or understand the funtion of the Fed. Hard working employees who do their job well don't have an opportunity for advancement. You can remain in the same position for YEARS and never get a promotion unless you are a "favorite" or a "minority". If you are a "minority" you end up only being a figurehead with no power or decision making ability. This could be a great organization but employees are fearful of job loss if they say something!

    Advice to ManagementAdvice

    Don't be so afraid of the loss of your job - speak up and do what's right for the organization. Don't only promote the employees who make the most noise. Pick the best qualified candidate for the position. Don't be afraid to take a stand on a decision. Management is so wishing washy on making changes - afraid it could impact their career. Rather leave status quo verses moving forward. Very sad but honest!!

    Doesn't Recommend
    Neutral Outlook
  9. 1 person found this helpful  

    Good place to work but boring

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

    I have been working at Federal Reserve Bank of Cleveland full-time (more than a year)

    Pros

    People are usually nice ; Excellent health benefits, gym,Cafetaria, 401k, retirement plan. Good retirement benefits if you work for more than 10 years.

    Cons

    Decision making is slow and there are no central authorities to coordinate between different groups. So things are changed very slowly
    Men vastly outnumber women in technology groups and they are from old school. Some folks don't know how to treat their women colleagues well. They are condescending .
    Career growth non existent

    Advice to ManagementAdvice

    Make the orgnaization, lean mean, be decisive and quick

    Recommends
    Positive Outlook
    No opinion of CEO
  10. 3 people found this helpful  

    The Federal Reserve Bank of Cleveland is a strong developmental environment and enjoyable workplace.

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Federal Reserve Bank of Cleveland full-time

    Pros

    -Positive atmosphere, pleasant co-workers.
    -Flexible hours and dedication to work-life balance for its employees
    -Provides long-term security and excellent benefits for those competent in their position

    Cons

    -Because it is a quasi-governmental organization, impactful change can be slow to implement due to its bureaucratic nature. This can be a bit frustrating for individuals who need to see rapid and tangible results of their work.

    Approves of CEO
  11. 5 people found this helpful  

    Organization serves a great purpose to the economy and banking industry, but not a good place for minorities.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Exempt Professional in Cleveland, OH
    Former Employee - Exempt Professional in Cleveland, OH

    I worked at Federal Reserve Bank of Cleveland full-time (more than 5 years)

    Pros

    The Federal Reserve Bank offers great benefits.

    Cons

    The Fed does not hire or promote many minorities into professional and management positions. You have a few token Blacks in HR that serve as the face of the Bank, but that is not representative of the rest of the Bank. Most minorities work in lower level administrative positions, or in the cafeteria or housekeeping. Whites get the most access to training, promotions, bonuses, etc.

    Advice to ManagementAdvice

    Make diversity a way of life instead of pretending to care about the professional growth of minorities.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

Work at Federal Reserve Bank of Cleveland? Share Your Experiences

Federal Reserve Bank of Cleveland

 
Click to Rate
or

Your response will be removed from the review – this cannot be undone.