Federal Reserve Board

  www.federalreserve.gov
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Federal Reserve Board Reviews

Updated Jul 12, 2014
All Employees Current Employees Only

4.2 51 reviews

100% Approve of the CEO

(no image)

Janet L. Yellen

(9 ratings)

91% of employees recommend this company to a friend

Review Highlights

Pros
  • Great learning opportunities; decent work/life balance; excellent compensation and benefits package(in 12 reviews)

  • Opportunity to learn in depth information about monetary policy(in 4 reviews)


Cons
  • Complete disregard for the private sector(in 6 reviews)

  • There is an abundance of red tape(in 3 reviews)

51 Employee Reviews
Relevance Date Rating
in
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    IT Division

    Computer Applications Analyst (Current Employee) Washington, DC

    ProsPeople are really nice. Deadlines are soft. Work can be interesting since IT is open to new technologies. Quality of life is probably the best thing about working here.

    ConsReview process is only once a year so it varies manager to manager on whether or not you get good feedback.

    Advice to Senior ManagementJust make sure you give your staff clear objectives to get promoted, especially once they get to level 25. Also, implement a true 360 review for management and senior management.

    Yes, I would recommend this company to a friend

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    Good Preparation for grad school

    Researcdh Assistant (Former Employee) Washington, DC

    Pros-good on-the-job training in SAS, STATA, MATLAB and other statistical software
    -good opportunity to pursue research interests
    -smart co-workers
    -tuition reimbursement
    -good to have on a resume
    -great prep for grad school or future employment in private sector; especially in financial industry

    Cons-can be monotonous at times
    -experience completely depends on what section you work in

    Advice to Senior Management-focus less on internal promotion and politicking, focus more on research
    -get competent HR people

    Yes, I would recommend this company to a friend

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    4 people found this helpful  

    Decent place to start a career but don't stay too long. (Specific to this position)

    Financial Systems Analyst (Current Employee) Washington, DC

    ProsYou get to do some interesting economic analysis looking at data. You can do an AWA (Alternative Work Arangement) that almost everyone does, where you work 9 hour days rather than 8, but you get 1 day off (most people pick a Friday) every 2 weeks (without counting against your leave time). The benefits are really great and lots of vacation. Also, everyone gets an office (although some people share large offices with one other employee). Almost no career advancement without advanced degrees. To move up you have to apply for completely different positions in another division.

    ConsThe federal reserve, like most government organizations, is very lazy. There are entire weeks myself and colleagues have absolutely zero work and just sit in our offices with nothing to do. This makes it tough when looking for a different job when 80-90% of your time you are literally not doing anything productive. People get too comfortable and used to this setup and end up staying forever.

    Advice to Senior ManagementStop being so old fashioned and scared of any changes. Sometimes, change and new ideas are good. Recognize talent and reward talent much more quickly so it doesn't all leave.

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    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
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    • Approves of CEO

     

    Great first job out of college

    Research Assistant (Former Employee) Washington, DC

    ProsReally friendly work environment. Research assistants are involved in research across the board.

    ConsDegree-tocracy - You need more degrees to advance. No PhD; no promotion. Not really a con, but very little upward mobility unless you go back to school.

    Advice to Senior ManagementDoing well

    Yes, I would recommend this company to a friend

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    Great Job for recent Graduates

    Research Assistant (Former Employee) Washington, DC

    ProsThis Is a great job for intelligent, curious and technically minded graduates. In particular, if you have an interest in economics or finance, there is no better place to receive the technical training that will allow you to begin your career. It is also a great place to segue into a Phd program, particularly if you are interested in pursuing a PhD in economics.

    ConsThe only con associated with this position is the fact that you will eventually have to leave the Board. In order to progress within the system you really need to have a Phd.

    Advice to Senior ManagementI had an excellent experience with management. They look out for your best interests and are certainly interested in the future of their young employees

    Yes, I would recommend this company to a friend

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    3 people found this helpful  

    Federal Reserve Board a good place to build your career

    IT Analyst (Former Employee) Washington, DC

    ProsGreat opportunity to learn the banking sector and a very reputable place to work for. Everyone knows and very much respects the Federal Reserve Board. They have a nice 401k matching plan that matches 6%. Lots of time off for vacation and holidays. Lots of opportunities to see how IT works in a large corporate atmosphere. One of the best perks are the co-workers who are generally very skilled and competent. I really did respect them and had a wonderful time working with them. The Federal Reserve has a discounted cafeteria which can prove to be a real money saver while at the same time providing some quality food.

    ConsNot enough work to do. On average there is only twenty hours of real work to complete. Salary is only comparable to the government and not with the private sector. One of the real downsides is the Federal Reserve structure consists of numerous banks located throughout the United States. So you often spend a lot of time having phone calls to set up meetings to have meetings. Needless to say it can be a real waste of time after a while. All in all the downsides were not that bad as it is generally a good place to work if you like a laid back atmosphere. If you want something more demanding you might look elsewhere.

    Advice to Senior ManagementGive more work to do or less people should be there

    • Culture & Values
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    It's what you make of it. Want to be a wallflower? Go for it. Want to be super-involved? Can do that too.

    Anonymous Employee (Current Employee)

    ProsBenefits are incredible: Still offer a pension; 401(k) match that I can't find elsewhere; can retire by age 55. Salaries are good, but not as generous as other regulatory agencies. Performance-based merit system; pay was constrained, but not frozen. Cash award opportunities. Promotions tend to occur every 18-24 months provided you are pulling your weight.

    ConsNo succession plan in place; no push to retire folks who should have gone years ago and no plan on how to identify next batch of leaders nor get them ready. Do not appear serious about developing talent, so recent hires for leadership roles have come from the outside.

    Advice to Senior ManagementBe sure to spread the wealth. Make sure all staff have the opportunity to do something great. Also, stop hand-holding consistent underperformers and find a way to move them up or out.

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

    • Culture & Values
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    Great organization

    Anonymous Employee (Current Employee)

    Pros-Great people
    -Great mission
    -Great senior managers

    Cons-Need to move faster on some issues.
    -Need more feedback from managers

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

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    Working at the FRB enhanced my analytical skills

    Financial Systems Analyst (Current Employee)

    Prosbenefits, work-life balance, tuition assistance. location, great start for an entry level financial analyst or an individual who wants to continue education.

    ConsNot as competitive as private sector. Minimal travel. Lack of diversity. Clients are within the Federal Reserve Board. Minimal risk/reward scenarios.

    Yes, I would recommend this company to a friend

    • Work/Life Balance
    • Senior Management
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    1 person found this helpful  

    This place rocks

    Financial Systems Analyst (Current Employee)

    ProsFlexible hours, good work life balance.

    ConsNo way to distinguish yourself.

    Advice to Senior ManagementFire you know who.....

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