Federal Reserve Bank of Minneapolis

www.minneapolisfed.org
Engaged Employer

Federal Reserve Bank of Minneapolis Reviews

Updated August 28, 2015
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Narayana Kocherlakota
11 Ratings

19 Employee Reviews

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  1. Bank Examiner

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Commissioned Bank Examiner in Minneapolis, MN
    Current Employee - Commissioned Bank Examiner in Minneapolis, MN
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Federal Reserve Bank of Minneapolis (More than a year)

    Pros

    Great people and great atmosphere. Benefits are very good.

    Cons

    As a Bank Examiner, there is a notable amount of travel required.


  2. money processor

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Minneapolis, MN
    Former Employee - Anonymous Employee in Minneapolis, MN
    Neutral Outlook
    No opinion of CEO

    Pros

    Great people to work with.....better than average pay...good benefits. Nice facilities to work at...lots of perks with the job.

    Cons

    work is very repetitive and somewhat boring. Had a strict schedule of when you could take your break. Lots of rules that you must follow exactly.


  3. Help desk analyst

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Computer Technician in Saint Paul, MN
    Former Employee - Computer Technician in Saint Paul, MN
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at Federal Reserve Bank of Minneapolis full-time (More than a year)

    Pros

    Their benefits are amazing. They offer a pension with a 1% COLA. Medical benefits are stellar. Received at least 6 bonuses during my two years there. If you show interest and initiative and offer suggestions for improvement you can succeed and rise fast. Make sure to negotiatiate hard core! They will try to get you for a bargain.

    Cons

    Micromanagement hell. I had 6 managers giving instruction. Management didn't have technical background- very hard to get them to empathize with employees. The ones that are suck ups will be successful. If you don't want to sell your soul, consider a smaller company. Working for the federal reserve is NOT working for the government!!!!! They are a private company and work for the treasurey. Meaning they give a portion back to the treasurey and they keep what's left over. This is not a federal government place of employment!

    Advice to Management

    Hire people who actually have experience in the department they manage.


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  5. National Service Desk

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - National Service Desk, Senior Info Svcs Tech in Minneapolis, MN
    Former Employee - National Service Desk, Senior Info Svcs Tech in Minneapolis, MN
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Federal Reserve Bank of Minneapolis (Less than a year)

    Pros

    A large amount of Time/Effort spent on training employees. Support is given so that every employee can succeed.

    Cons

    Complex organizational structure with many different groups defining policy. Thinking/acting outside the box is not encouraged.

    Advice to Management

    doing a fine job under the constraints of the organization.


  6. Administrative Assistant

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Federal Reserve Bank of Minneapolis full-time (More than 5 years)

    Pros

    Wonderful diversity and employee programs. Friendly staff throughout the bank. Positive working experience.

    Cons

    Some members of management are allowed too much freedom to make decisions they are not qualified to make causing a negative domino effect though the division they manage.

    Advice to Management

    There should be more checks and balances in place. Lack of it brings down the morale.


  7. Business Analyst

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Great location, benefits and very ambitious colleagues

    Cons

    Lacks diversity, takes very long to move up

    Advice to Management

    Assess skills of employees from the managerial level, recruit more diverse talent


  8. Not bad yet not great

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Management in Minneapolis, MN
    Current Employee - Management in Minneapolis, MN
    Recommends
    Negative Outlook
    Approves of CEO

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

    Pros

    Stable organization; you won't worry if payroll will be met. Great benefits and if you stay long enough you will receive a pension. HR is employee friendly.

    Cons

    There is a hierarchy within the firm. Little ability to move up and if you are someone who enjoys free thinking and autonomy you won't find it at the Fed. Some areas run on a culture of fear. Many operational areas are slowly getting smaller as other Feds are taking business from Mpls. If you are in Supervision or Research you do have opportunities.


  9. Helpful (3)

    I worked at the Federal Reserve Bank of Minneapolis for many years and cannot recommend

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Business Analyst in Minneapolis, MN
    Former Employee - Business Analyst in Minneapolis, MN
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Pension, 401k, casual dress code

    Cons

    I worked in FedACH and the National Service Desk (NSD) for several years. It became an old hat and I became tired of the level of unprofessionalism and lousy management. I felt many of the leads, including senior management, were very bullish. When I approached HR about issues they were like "oh Stacey, I know Stacey." Some of the other reviews talk about a boy's club but it's a girl's club too. I also felt very overworked and sometimes worked 75+ hours per week with little to know comp time.

    Advice to Management

    Recruit better talent and leaders. Many of the people managing became managers based on who they know, not what they know.


  10. Helpful (1)

    Customer Support Representative

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Customer Support Representative in Minneapolis, MN
    Current Employee - Customer Support Representative in Minneapolis, MN
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Health benefits, retirement benefits, education reimbursement, clean facility, nice cafeteria

    Cons

    Promotions are made based on who you know, not qualifications/education. Work can get boring. Blanket rules enacted but rarely enforced.

    Advice to Management

    Some staff may be fine working the same operations job every day for the rest of their lives but others want to be challenged, opportunities to grow and advance in their career.


  11. Helpful (8)

    One of the worst places I've ever worked

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at Federal Reserve Bank of Minneapolis full-time

    Pros

    Benefits are above average (but are NOT worth coming to work here for.) Most hourly employees seem satisfied

    Cons

    (The below has been written from the viewpoint of someone that worked in what's known as the "Treasury" part of this place.) Cons: Having to work with a bunch of miserable lifers that never went to college, and thus think of this place as being "the big time" even though they simultaneously are miserable. These people spend the entirety of their one-dimensional lives coming into the same job every single day for decades. It's no wonder they're miserable. It's just too bad they can't keep it to themselves. Every part of the metro area has its own unique culture. This place has a lot of people that commute from the north metro. If you strongly identify with north metro "culture", then you may really like it here. Especially if you never completed college and have a chip on your shoulder for those that have. That's not to say that everyone here that went to college is nice, great, etc. There certainly are some that are equally grizzled and miserable.. The rate of occurrence just isn't quite as high. As a salaried employee, you'll spend your business hours doing an incoherent set of grunt tasks at a fever pitch (despite having a professional job title), and be expected to work weekends as well. The whip never stops cracking for salaried employees. Every day you walk into the "beautiful building" (as if that's important) you go back in time a few decades, and not in a nice nostalgic way. I could write a book about why this is a horrible place to work, but I'll close things off with a couple things you might find...peculiar...: - Charging your cell phone at your desk makes you subject to termination. - Every day or every week, someone walks around yanking on your desk drawers to make sure they're all locked. If they're not, you could be fired the next day.

    Advice to Management

    Realistically, nothing. Chances are pretty good that you've only worked at this place and have no real idea how other organizations are run.



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