Federal Reserve Bank of Minneapolis

www.minneapolisfed.org
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Federal Reserve Bank of Minneapolis Reviews

Updated April 23, 2015
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3.1
16 Reviews
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Narayana Kocherlakota
8 Ratings

Employee Reviews

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  1. Administrative Assistant

    • 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 Minneapolis full-time (More than 5 years)

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

    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.

  2. Not bad yet not great

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Management in Minneapolis, MN
    Current Employee - Management in Minneapolis, MN

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

    Recommends
    Negative Outlook
    Approves of CEO
    Recommends
    Negative Outlook
    Approves of CEO

    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.

  3. Helpful (2)

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

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

    I worked at Federal Reserve Bank of Minneapolis

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    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.

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  5. Helpful (1)

    Customer Support Representative

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

    I have been working at Federal Reserve Bank of Minneapolis

    Recommends
    Positive Outlook
    Approves of CEO
    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.

  6. Helpful (5)

    One of the worst places I've ever worked

    • 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 Minneapolis full-time

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

    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.

  7. It was a very easy opportunity in which I met a lot of cool people, learned a lot, and didn't have to work very hard...

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Summer Analyst in Minneapolis, MN
    Former Intern - Summer Analyst in Minneapolis, MN

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

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

    Pros

    - Lots of networking opportunities
    - Cool public presentations throughout the bank
    - Opportunities to impress your superiors in many ways
    - Great hours

    Cons

    - Not very well directed
    - Very poor pay
    - Only had to work as hard as I wanted to work
    - Management did not seem to care much about the work of the interns.

    Advice to Management

    Make it a more directed internship program and offer higher wages.

  8. Treasury Services II

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Treasury Services II in Minneapolis, MN
    Current Employee - Treasury Services II in Minneapolis, MN

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

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

    Pros

    Great benefits, people, opportunity for development

    Cons

    Long time to move up in the organization

  9. Helpful (2)

    Great Place to Work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Instructional Designer in Minneapolis, MN
    Former Employee - Instructional Designer in Minneapolis, MN

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

    Positive Outlook
    Approves of CEO
    Positive Outlook
    Approves of CEO

    Pros

    Beautiful building on the river, downtown Minneapolis. Best internal development training I've seen anywhere. Terrific mentor program. Stable and consistent work environment.

    Cons

    Pace can seem slower than other companies. Adopting new technology requires careful testing and that takes time. Annual salary increases are meager.

  10. Helpful (1)

    Company Review

    Former Employee - Customer Service Representative in Minneapolis, MN
    Former Employee - Customer Service Representative in Minneapolis, MN

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

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

    Pros

    Good benefits such as medical, dental and pension.

    Cons

    Poor base salary and poor annual raises

    Advice to Management

    Need an upward base salary restructure...otherwise employees will use the company as a spring board for careers elsewhere.

  11. Helpful (2)

    I enjoyed working with this company. The employees and staff were great to work with.

    • 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 Minneapolis

    Approves of CEO
    Approves of CEO

    Pros

    The benefits package and training available is something that I have only see at a few large companies. There are considerable opportunities to continue or expand your education.

    Cons

    There are limited promotional opportunities and it may be difficult to change careers within the organization.

    Advice to Management

    Take action from the employee surveys.

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