Federal Reserve Board - Beware | Glassdoor
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There are newer employer reviews for Federal Reserve Board

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Helpful (6)

"Beware"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Financial Analyst in Washington, DC
Current Employee - Financial Analyst in Washington, DC
Doesn't Recommend
Neutral Outlook
Disapproves of CEO

I have been working at Federal Reserve Board full-time (More than 3 years)

Pros

Prestige (for what it's worth), adjacent to National Mall, OK cafeteria, annual leave, insurance (health, dental, vision), raises available (but if you are not one of the 20% "high performers", you will tread water economically with low raises with 70% of the staff at the "commendable" (nice way of saying average) level.)

Cons

Performance evaluations (that is, the dreadful so-called PMP) use the forced distribution, or "rank and yank" method. Google it; forewarned is forearmed. A set percentage are given bad reviews, with encouragement to quit. The internal webpage shows no one gets below commendable; do not believe it. The entire performance evaluation system is a true insult to workers who bravely try to meet impossible-to-satisfy expectations. Again, my fellow human beings--beware.

[To employees (current and future): As low-level managers will be taking notes for the PMP on computer, you must make sure to ask for a copy of any managerial documentation with your name on it. If denied, make note of the denial. Also, take assignments, do well on them, write a success list (for your own eyes only) so that you can update your resume and leave at will. Your heart, soul, and mind will thank you when you leave the building for the last time.]

Resistance to necessary change. Just because it worked in 1970 does not mean the exact practice must continue in the Internet era.

Excessive division between PHD and non-PHD staff. PHD staff advances; the rest languish.

Advice to Management

Complete transparency (that is, sunshine) should be standard operating procedure. Employees have a right to know if managers are making adverse decisions about their careers behind closed doors with a outside facilitator.

Forced distribution ultimately will cause systemic failure, requiring congressional attention to fix the mess.

Other Employee Reviews for Federal Reserve Board

  1. "The Federal Reserve is a serious and organized"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Intern in Washington, DC
    Former Intern - Intern in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    great experience, salary and benefits.

    Cons

    The atmosphere is fairly dull

    Advice to Management

    Renovate the building


  2. Helpful (1)

    "Very relaxed work environment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Research Assistant in Washington, DC
    Current Employee - Research Assistant in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Easy transition from college to work environment

    Cons

    Can get a bit boring

There are newer employer reviews for Federal Reserve Board
There are newer employer reviews for Federal Reserve Board

See Most Recent

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