Federal Reserve Board

www.federalreserve.gov

Federal Reserve Board Reviews

Updated January 23, 2015
Updated January 23, 2015
71 Reviews
4.2
71 Reviews
Rating Trends

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Janet L. Yellen
13 Ratings

Review Highlights

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 Highlights

Employee Reviews

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  1.  

    Really good

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

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

    Pros

    Highly recommend this internship experience
    - Good learning Experience
    - Open work place
    - Low pressure environment
    - Chance of being employed later on
    - very stable internship, not very stressed

    Cons

    Not very many cons honestly, a really good place to intern at:
    - limited hours to work
    - sometimes ran out of work to be done
    - not as many perks/ salary isn't up to par with competitors

    Recommends
    Neutral Outlook
    Approves of CEO
  2. 1 person found this helpful  

    A generally good lifetime experience at the U.S. central bank

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

    I worked at Federal Reserve Board full-time (more than 10 years)

    Pros

    Interesting work at the most important central bank in the world; decent pay with periodic cash bonuses; own office; civilized hours; good learning opportunities for younger professionals.

    Cons

    Career path opaque and perplexing; job increasingly driven by process and process fulfilment imperatives; limited view of the organization; stifling class system of management; bureaucratic procedures.

    Advice to ManagementAdvice

    Be more communicative and honest with staff. Generate genuine staff development and promotional opportunities that are equitable. Abolish "caste" system of management. Allow staff greater say (without prejudice) in building true consensus and driving organizational as well as business change.

    Recommends
    Neutral Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    There are better places to work

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

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

    Pros

    Federal benefits, dental, health insurance

    Cons

    Backstabbing, cutthroat environment. You have been warned.

    Advice to ManagementAdvice

    It is of no use.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 2 people found this helpful  

    Great to work in a place that has such an impact and relationship to the US economy

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

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

    Pros

    People are highly educated, generally pleasant

    Cons

    Long term employees with minimal perspective on how to utilize technology efficiently. Lot of silos across divisions, not team players - dont share their information/relationships very well. Managers are not trained to mentor and some should not be be 'people managers' Limited growth - takes long time to advance, or you have to know the officer on a personal level to get promotion

    Advice to ManagementAdvice

    Get a better leader for IT, has no strategic vision or relationship / doesnt care or know that there is no respect from staff.

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    Very pleasant experience. Learned a lot.

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

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

    Pros

    Great benefits, hours, work/life balance, people are really nice

    Cons

    Some of the work can be monotonic

    Advice to ManagementAdvice

    Be more present

    Recommends
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    Great Organization;

    • 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 5 years)

    Pros

    The Fed has an important mission and has been a major force for economic stabilization over the past few years. It can be a great organization to do well by doing good, especially as a young person. Most employees are passionate and excited about the work they're doing. The pension, benefits, and work-life balance are excellent.

    Cons

    The Board seems to prioritize giving management roles to those who are talented at their group's work rather than emphasizing leadership/management potential or skill. We have a lot of gifted practitioners who seem to flounder when forced to manage and set strategy. On the other hand, young people interested in moving into management don't have a clear path to do so.

    Those willing to do the most work may quickly find themselves overwhelmed and unable to get management buy-in to delegate/rebalance their work. Also, the superstar premium is modest. Unlike at some private sector employers, taking on more work and hitting it out of the park may result in a raise and bonus only moderately larger than that received by those who are barely skating along. Since the upside is limited but the added workload and resultant stress can be substantial, employees are loath to take on new responsibilities.

    Getting rid of bad employees seems to be excessively difficult. Certain problem employees and managers are worked around rather than removed or demoted.

    Advice to ManagementAdvice

    Encouraging more churn would shake out a lot of the petty politics and fiefdoms, helping to break the siloed mindset. The rotational programs that are currently happening within the research divisions are a step in the right direction.

    The Board would be well served to build a pipeline of young management trainees and give them opportunities for project management roles and other development prior to becoming group or section managers. Talented young people interested in management frequently leave because they worry it will take years or even decades to have a chance at a management position.

    Recommends
    Neutral Outlook
    Approves of CEO
  8.  

    Terrific Place for an Economist

    • 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

    Pros

    Supportive of Research; Cooperative and Friendly Culture

    Cons

    A bit disorganized and bureaucratic

    Doesn't Recommend
    Positive Outlook
    Approves of CEO
  9.  

    Great place for interns

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

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

    Pros

    REAL work, Great work life balance, not too stressful

    Cons

    None. The intern program is well thought out.

    Advice to ManagementAdvice

    The intern program is good. Especially

    Recommends
    Positive Outlook
    Approves of CEO
  10. 1 person found this helpful  

    Can't beat the view

    • 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 5 years)

    Pros

    No Title 5 to worry about, so sequestration does not affect us. Benefits are through the roof (have never seen a retirement package and 401k/thrift plan as generous). Salaries are respectable, but lag other Federal Regulators (FDIC, OCC, CFPB) by 25%. Work-Life balance is excellent and family indeed comes first. Plenty of training and developmental opportunities available, just need to ask. Has been a fair amount of churn in leadership and division officers that "we've always done it this way" is on it's way out the door. The culture is collegial and the only employees referred to by title are the seven Governors; everyone else is first-name basis.

    Cons

    As mentioned, the salaries are lower than other regulators and promotions can be tough as there are few manager and officer spots available due to the flatness of the Board. The pace is excruciatingly slow for anyone coming from private sector and can be enough to drive someone to quit. Almost every decision requires a consensus vote and generating support can take months, if not years. This covers everything from volunteering for a team (you need permission from your boss) to passing out cash awards (consensus votes) to major changes in operational policies (requires so many approvals you ask yourself if it's worth the trouble).

    Advice to ManagementAdvice

    Let your managers and supervisors manage; get them away from day-to-day tasks that staff can do. You tell me I'm budgeted at X% of salary for cash awards, yet no one can tell me how I earn that. And why, oh why, do you sit on this until December? If I hit a homerun in April, what are you waiting for? Also, you are overstaffed. Too many people sitting around waiting for something to do.

    Recommends
    Positive Outlook
    Approves of CEO
  11. 1 person found this helpful  

    Great learning experience

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Board

    Pros

    Talented colleagues with diverse skill sets, good pay, supportive managers/officers, decent work-life balance, and unlimited access to valuable resources (including tech), imminent move to farragut west offices

    Cons

    lack of over-time pay, mediocre cafeteria, turnover, under-staffing issues, lack of parking and transportation to and from the board

    Recommends
    Positive Outlook
    Approves of CEO

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