Federal Reserve Board
4.2 of 5 45 reviews
www.federalreserve.gov Washington, DC 1000 to 5000 Employees

Federal Reserve Board Reviews

Updated Apr 13, 2014
All Employees Current Employees Only

4.2 45 reviews

                             

100% Approve of the CEO

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Janet L. Yellen

(5 ratings)

90% of employees recommend this company to a friend
45 Employee Reviews
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Current Research Assistant

Research Assistant (Current Employee)
Washington, DC

I have been working at Federal Reserve Board full-time for more than a year

Pros- Relaxed work environment: Easy to leave work at work
- Access to top Economists and lots of smart people (and some potential co-authors)
- Prestige: great career starter, especially for those thinking of an econ PhD
- If you are in your twenties: great network of similarly aged, similarly minded people.
- Benefits: health, vision, dental, bike parking, in-house gym, beautiful cafeteria
- You will occasionally find yourself eating lunch within shouting distance of "Big Ben" Bernanke

Cons- Can get boring for the unambitious employee
- Very little upward mobility within the Fed itself (obvious glass-ceiling for the non-PhD holders)

Yes, I would recommend this company to a friend

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5 people found this helpful  

Good place to have been: Don't get comfortable and stick around forever

Financial Analyst (Current Employee)
Washington, DC

I have been working at Federal Reserve Board full-time for more than a year

ProsExposure to SAS, SQL, MS Access; I learned all of that from scratch during my time
Exposure to large data; perfect environment from where you can launch a career in analytics
Good hours
Decent colleagues

ConsThis is an academic environment, so don't expect to find good (or open) management
No teaming; people here work in silos and everyone has a sense of being a boss
The name of the game here is to get your tenure after your 2-year probationary period and then get comfortable; this may not be bad, but it breeds a certain mentality I was/am not comfortable yet
Complete disregard for the private sector

Advice to Senior ManagementYou don't know everything
It may do you some good to experience some other environment before returning to the Board

Yes, I would recommend this company to a friend

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Summer Intern

Summer Intern (Former Employee)
Washington, DC

I worked at Federal Reserve Board as an intern for less than a year

ProsFantastic program to get involved in. You get assigned to engaging projects from day 1 and the level of responsibility is usually high, though this will vary by department/economist. Some times there you will get the opportunity to co-author a paper, and generally the FRB outputs academic-level research. Integration into the Board's culture happens from the get-go, with plenty of opportunities to meet with senior economists and the Chairman himself.

ConsThe pay compared to other internships in consulting or banking is relatively low.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Senior Research Assistant

Senior Research Assistant (Current Employee)
Washington, DC

I have been working at Federal Reserve Board full-time for more than a year

ProsWorking for very smart people
Learn to code in multiple languages
Opportunity to learn in depth information about monetary policy
High visibility within your section as well as to the board as a whole

ConsJob can get boring after a couple years. Minimal upward mobility.

Advice to Senior ManagementTeach a little more.

Yes, I would recommend this company to a friend

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It's a really good place to start a career.

Research Assistant (Current Employee)
Washington, DC

I have been working at Federal Reserve Board full-time for less than a year

ProsThe job is not too stressful. You can leave your work behind after you clock out.
You get to work with people your age as well as top economists.
You make connections with many different people.

ConsThere's a steep learning curve in terms of learning programming and different data sources.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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5 people found this helpful  

Soul crushing . . .

Anonymous Employee (Current Employee)
Washington, DC

I have been working at Federal Reserve Board full-time for more than 5 years

ProsThe Federal Reserve Board is quasi-government, which, among other things, means that they don't automatically adopt policies set by Congress or the President. It also has good benefits and amenities (gym, parking by lottery, etc.).

ConsUnless you like posturing (rather than working) to get ahead, lots of bureaucracy, meeting about meetings, and occupying yourself with busy work that's only loosely related to what should be done, this isn't the place to be. The Board is very divided. Duplication of efforts is commonplace where interpersonal issues can't or won't be overcome. The fractures within the organization can make it difficult if not impossible to transfer to other divisions or units. This is a very political environment.

Advice to Senior ManagementI don't even know where you'd begin.

No, I would not recommend this company to a friend

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2 people found this helpful  

Some good, some bad, depends on your personality

Anonymous Employee (Current Employee)
Washington, DC

I have been working at Federal Reserve Board

Pros--benefits are incredible
--pay is much higher than at other federal agencies
--good tuition assistance
--can try different kinds of things and move laterally
--some nice people
--if you are an economist in R&S, it's the bomb!

Cons--very hierarchical, like a caste system (probably similar to other govt agencies)
--federated structure means everyone is the boss! completely siloed.
--slow, slow, no decision-making - make up your mind already!
--no process, no infrastructure - do they make monetary policy on an abacus?
--a lot of the Officers think they are The. Smartest. Person. Ever.
--inverse relationship between rank and leadership ability - the higher the person, the worse the managerial skills

Advice to Senior ManagementRetire. Soon. Before the GAO gets in there to audit you for real.

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Good overall experience.

Senior Supervisory Financial Analyst (Former Employee)
Washington, DC

I worked at Federal Reserve Board

ProsGood name recognition, great benefits, good salary, fair hours, good people, competent management, flexible work arrangements such as telecommuting and flex schedule.

ConsSenior management struggles to provide a cohesive strategy or vision for work force. Senior management does not always communicate effectively with staff or junior management.

Advice to Senior ManagementCommunicate a cohesive strategy or vision to the work force. Senior management Communicate more effectively with staff and junior management.

Yes, I would recommend this company to a friend

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An excellent place to start ones career...but not necessarily to finish it.

Senior Economist (Current Employee)
Washington, DC

I have been working at Federal Reserve Board

ProsSmart dedicated colleagues, lots of data and research support

ConsThe Fed is very hidebound in the way it approaches policy and economic issues.

Advice to Senior ManagementNo really, it's true: you don't know everything.

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Excellent career experience

IT Compliance (Former Employee)
Washington, DC

I worked at Federal Reserve Board

ProsProfessional environment. Good training opportunities, benefits, and time off. Prestigious organization; very good on your resume. Work opportunities (based on your position) may allow travel to the 12 district Reserve Banks throughout the country.

ConsNot many cons; overall very satisfied. Job satisfaction varies from department to department, as does the quality of the IT systems; but this can be the case in many orgs. Culture is long standing, so changes are slow going or impossible. If you like it, you like it; if you don't, don't expect things to change.

Advice to Senior ManagementI don't have any specific advice to management. Prospective employees need to keep in mind that this is a government agency, so the culture is deeply ingrained.

Yes, I would recommend this company to a friend

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Glassdoor is your free inside look at Federal Reserve Board reviews and ratings — including employee satisfaction and approval rating for Federal Reserve Board CEO Janet L. Yellen. All 45 reviews posted anonymously by Federal Reserve Board employees.