Federal Reserve Bank (NY) - Objective review of working at the FRBNY (supervision group) | Glassdoor
There are newer employer reviews for Federal Reserve Bank (NY)
There are newer employer reviews for Federal Reserve Bank (NY)

See Most Recent

Helpful (5)

"Objective review of working at the FRBNY (supervision group)"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Bank Examiner in New York, NY
Current Employee - Bank Examiner in New York, NY
Recommends
Neutral Outlook
No opinion of CEO

I have been working at Federal Reserve Bank (NY) full-time (More than 5 years)

Pros

Great work life balance (9-5, every other Friday off, bank holiday schedule), great benefits (pension, health benefits, retirement savings account match), generally low stress environment but depends on manager/group, as close to job security as you can get without being a pure government/union job, decent pay, good opportunity to learn a lot, looks good to have the Fed on your resume

Cons

You can likely earn a lot more money if you go to a private institution (bank or consulting firm), it can sometimes be quite bureaucratic, you can be stuck with a crappy manager (though this can apply at any job), some people are just flat out eccentric, and it bears repeating: you can earn a lot more money elsewhere

Advice to Management

the only way to improve morale is to pay more

Other Employee Reviews for Federal Reserve Bank (NY)

  1. Helpful (7)

    "Well-paid and stable job, but limited upward mobility"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Analyst in New York, NY
    Current Employee - Senior Analyst in New York, NY
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Federal Reserve Bank (NY) full-time (More than 10 years)

    Pros

    Competitive pay, very good work-life balance, excellent retirement benefits, excellent job security

    Cons

    Few opportunities for advancement. Many at the Bank have been in the same exact position for over 15 years. Other than the Research Department, almost the entire Bank is primarily focused on operational work as opposed to analytical work. This means that there are few opportunities for talented individuals, individuals with advanced degrees to grow and maximize their potential. There is a management track for talented individuals, but the work that managers get to oversee is mostly very routine operational work.

    Advice to Management

    I think that in order to retain the best talent, the Bank needs to create a track for analysts such that analysts can rise to the highest levels without having to switch to being a manager.


  2. Helpful (5)

    "Hidebound Bureacracy"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Bank Examiner in New York, NY
    Former Employee - Bank Examiner in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Flex Fridays - every other Friday is a day off. The work-life balance is generally good and the pension looks ok.

    Cons

    Almost everything else - Managers are terrible. Most employees are lifers that haven't worked anywhere else and know nothing about life outside the Fed. Incredibly hard to get promotions without being part of someone's inner circle. The level of bureacracy is overwhelming.

There are newer employer reviews for Federal Reserve Bank (NY)
There are newer employer reviews for Federal Reserve Bank (NY)

See Most Recent

Work at Federal Reserve Bank (NY)? Share Your Experiences

Federal Reserve Bank (NY)
  • Star
  • Star
  • Star
  • Star
  • Star
 
Click to Rate
or