Federal Reserve Board Reviews

Updated April 30, 2015
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4.1
79 Reviews
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Janet L. Yellen
18 Ratings

Pros
  • Great learning opportunities; decent work/life balance; excellent compensation and benefits package (in 14 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)

More Pros and Cons

Employee Reviews

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  1. Research Assistant

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

    I worked at Federal Reserve Board full-time (More than 3 years)

    Recommends
    Neutral Outlook
    Recommends
    Neutral Outlook

    Pros

    Great staff/coworkers
    Interesting and meaningful work
    Great benefits and work-life balance

    Cons

    I don't have anything negative to say about my experience at the Board

    Advice to Management

    Continue great opportunities for Research Assistants

  2. Overall, a very positive experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Research Assistant in Washington, DC
    Current Employee - Senior Research Assistant in Washington, DC

    I have been working at Federal Reserve Board full-time (More than a year)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Learn a lot about programming, surrounded by highly intelligent staff, opportunities you couldn't get elsewhere

    Cons

    A lot of production work is required of research assistants

  3. Helpful (11)

    The Golden Handcuffs are alluring

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Analyst in Washington, DC
    Current Employee - Analyst in Washington, DC

    I have been working at Federal Reserve Board full-time (More than 8 years)

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

    Pros

    The pay is far more aggressive than what you'll find on the GS scale for government work. The Fed straddles both the government and private industry fence, so you can get the best (and worst) of both worlds. Merit increases have been solid (even through the financial meltdown) and year-end bonuses make holiday shopping enjoyable. The benefits are extensive; health stipends, employer-paid pension, and a 7% match on your 401(k). Plenty of time off options between vacation, personal days, and the "snow" days when the rest of government freaks out because it *might* snow. Telework has taken off and some areas are two-three days a week. Promotions are tough once you hit mid-career level as no one seems to leave. Hence, it a waiting list to move up in your current role.

    Cons

    Best way to get promoted is to leave and come back after two years. Some divisions seem stuck in the 1950's (here's looking at you IT) and others prefer the bleeding edge. There is a fair amount of fiefdom and silos still exist. At times, it operates closer to a dozen private businesses (divisions) all fighting over the same scraps. Why? We turned over $100 billion to Treasury last year as "profit." Yes, some areas are content to let employees "retire in place" and get paid so long as they can still fog a mirror. Others run so lean an operation, the typical workweek is 7am-7pm, five days a week. Get your staffing levels right on both sides of that aisle.

    Advice to Management

    360 reviews are long-overdue; there needs to be some form of peer/customer feedback. Employees are rated and "at risk" of losing their jobs every year; employees stuck with a bad manager should be allowed to "fire" the manager as well through some means other than quitting. Some managers are technically great, but have zero "people manager" skills. If I'm a technical expert, let me chase that path and leaves the management track to those who want it (subject matter experts should be allowed to make more than their manager - aka "dot com" era). If you want top talent, you're going to have to pay for it (better salaries, faster promotions, bigger bonuses, getting rid of knucklehead managers, etc.). I have every intention of retiring from the Fed. I believe in her mission and the "higher purpose" of what we do. I just want to be certain what I do matters. I don't need to be "private island" rich, but I don't want to live paycheck-to-paycheck either (which is very easy to do trying to raise a family in DC).

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  5. Internship

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Intern in Washington, DC
    Former Employee - Intern in Washington, DC

    I worked at Federal Reserve Board

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

    Pros

    Great organization to do an internship with. I worked with a lot of smart economists in one of the research divisions, and was exposed to really interesting problems.

    Cons

    I wish I would have had an opportunity to work more with the other summer interns, but my work was largely an individual project.

  6. Great place

    • 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 Board full-time (More than 3 years)

    Pros

    Fascinating work that matters for the world

    Cons

    Bureaucracy that is outdated, and terrible IT

  7. Helpful (1)

    Benefits

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

    I have been working at Federal Reserve Board full-time (Less than a year)

    Pros

    Awesome...matching 401k program up to 7%

    Cons

    No cons to add about the Fed.

    Advice to Management

    None

  8. Internship at its best

    • 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 Board

    Pros

    Great HR team. They want you to grow. Very organized. You actually work as a regular employee

    Cons

    I don't have anything to say

  9. Helpful (3)

    I had a great experience and learned a lot that I can use to further my career development.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Intern - Student Intern in Washington, DC
    Former Intern - Student Intern in Washington, DC

    I worked at Federal Reserve Board as an intern (Less than a year)

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

    Pros

    Everyone is easy to work with. Great work-life balance. Provides a comfortable atmosphere where you can learn and develop your career. Fantastic benefits. A lot of chances to grow by moving to different divisions and promoting form within.

    Cons

    Compensation is an issue in regard to turnover. Doesn't have an undergraduate development program that would be very helpful. Start to get younger employees who are more motivated to learn and go the extra mile. Have to earn a master's degree for a lot of the positions.

    Advice to Management

    Focus on decreasing turnover. Increase communication across divisions.

  10. Helpful (1)

    Good pre-doctoral experience

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Board

    Pros

    Relaxed, good colleagues, exposure to exclusive datasets

    Cons

    Maybe too much freedom for some overachievers. Also, no good schools to use academic assistance package near the vincinity

  11. FRB is an exciting place to work

    • 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 Board

    Pros

    It provides a unique perspective you can't get many other places.

    Benefits are great, people are a pleasure to work with, time off is a huge pro

    Cons

    Too much consensus building on business ops side (internal operations of Board). Too many people stuck in old ways "these is how we always do things" (this culture is changing with recent strategic management hires though)

    Advice to Management

    Bring some younger people in! Bring some life and energy into this place!

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