Federal Reserve Board

  www.federalreserve.gov
  www.federalreserve.gov

Federal Reserve Board Reviews in Washington, DC

Updated December 16, 2014
Updated December 16, 2014
69 Reviews
4.2
69 Reviews
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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

46 Employee Reviews Back to all reviews

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  1.  

    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

    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.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    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 Employee - Student Intern in Washington, DC
    Former Employee - Student Intern in Washington, DC

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

    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 ManagementAdvice

    Focus on decreasing turnover. Increase communication across divisions.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    As a Web Development Intern, I enjoyed being in DC and Pay was Excellent

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

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

    Pros

    Good people, nice environment, awesome buildings and perks that come with being a Board employee. Benefits are also good for employees. Work can get boring but that's just work. When I received my paycheck, it all made sense. Most people who work there are friendly but there is also some politics involved. Duh! I got to meet and take a pic with Ben Bernanke and Janet Yellen. So that was a great experience.

    Cons

    I was given a tedious project from which I did not learn much. Seemed like wax on wax off type of job as an intern but I did my time and earned what I deserved. Actually they overpaid me... how dumb is that, being the Fed. I received an extra paycheck and they've been bugging me about it since.

    Advice to ManagementAdvice

    Please don't be so uptight. Not my manager, but some other interns I observed.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    Great place to learn!

    • 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 as an intern (more than an year)

    Pros

    The people you come in contact with are generally quite well educated and established in the field.
    Almost everyone is genuinely dedicated to the work.
    Work/home balance is quite good, especially as an intern.
    The programs the Fed offers to interns to learn about different departments within the organization are stellar.

    Cons

    You will run into a bit bureaucratic red tape but it is far worse in other 'true' Government Departments

    Advice to ManagementAdvice

    Look to hire a younger workforce, you may be missing out on some business process innovation.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    Great place to work

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

    I worked at Federal Reserve Board full-time (more than an year)

    Pros

    Great work/life balance, awesome benefits, great colleagues, little office drama/politics (in my section), great technical training, interesting research. This is an absolutely great place to work. 9-5 most of the time. Everyone is very bright and dedicated. Aside from "production" duties, you have autonomy to seek out research projects with different Economists. Management and Economists are very interested in your career development.

    Cons

    Charting work in S-plus for RAs can be a burden, as Economists often don't know what's entailed to complete their requests (during crunch times).

    Recommends
    Positive Outlook
    Approves of CEO
  7. 2 people found this helpful  

    Not for a full career

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

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

    Pros

    The benefits are excellent at the Fed.

    Cons

    There is an abundance of red tape.

    Advice to ManagementAdvice

    stop signing autographs, swallow your pride and know you're not always right.

  8.  

    Great place to work.

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

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

    Pros

    Work / life balance can be very good. Benefits are incredible.

    Cons

    After working here for a few years, exciting developmental opportunities are running out. However, the Board does offer money for you to take classes.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Research Assistant- Research & Statistics Division

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

    I worked at Federal Reserve Board full-time (more than an year)

    Pros

    Great experience, great career development, and great if you want to get into a good Econ PhD program.

    Cons

    The work load varies, so sometimes you are super busy, others you are kind of looking for things to do.

  10.  

    Your Results May vary

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

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

    Pros

    Working with incredibly smart people on interesting and important topics. The amount of training and professional development is immense in terms of acquiring new skills (say, statistical programming) and knowledge (about the part of the economy or markets your section covers). Relatively efficient for a bureaucracy.

    Cons

    Pay is way below other options, even with in the federal reserve system. There is a severe lack of intermediate positions to be promoted into. Do your 2 or 3 years and move on unless you have a phd. Some of the technology used can be a bit out dated.

    Advice to ManagementAdvice

    There need to be more positions for intermediate for research assistants to be promoted into that is more akin to a Junior Economist rather than a Financial Analyst. It makes no sense to train students for 2 or 3 years and essentially give them the boot.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Research Assistant

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

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

    Pros

    Closely working in an academic environment. You bosses are very smart an really take an interest in you. There is a built in social scene with many other 22 y/o starting their first job with you. Can really help you get into PhD programs.

    Cons

    The pay is not as good as other options. Sometimes the work can be quite tedious. It is a little overwhelming at the beginning.

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