Federal Reserve Bank (NY) Reviews | Glassdoor

Federal Reserve Bank (NY) Reviews

Updated August 7, 2018
218 reviews

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3.4
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Federal Reserve Bank (NY) President & CEO William C. Dudley
William C. Dudley
106 Ratings

218 Employee Reviews

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Pros
  • "Amazing work-life balance, as well as the ability to get involved with every industry in finance" (in 64 reviews)

  • "Work-life balance, great benefits, collegial environment" (in 23 reviews)

Cons
  • "One will obtain bad working habits that will not translate to the private sector (I know the FED is private but it is not ran that way)" (in 14 reviews)

  • "The organization is very structured and most decisions has to be made by senior management" (in 11 reviews)

More Pros and Cons

  1. "Markets Group Rotational Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Bank (NY) full-time

    Pros

    Amazing work-life balance, as well as the ability to get involved with every industry in finance.

    Cons

    Located in Financial District, which is hard to get to sometimes. Building is a bit small

    Advice to Management

    Keep up the good work! I loved my time there as an intern over this past summer, and I'm happy that I will be returning for the full-time rotational analyst position!


  2. "Public Servants at heart"

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

    I worked at Federal Reserve Bank (NY) full-time (More than 5 years)

    Pros

    There is a feeling there that you are working *with* bright people that are truly invested in promoting a healthy economic system.

    Cons

    You are never quite sure who you are really working *for*.

  3. Helpful (1)

    "Typical Government Job"

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

    I worked at Federal Reserve Bank (NY) full-time (More than a year)

    Pros

    Benefits are good. Depending on where you are in your career the FED could be a great place to work. If you are looking for a place to retire and not do too much work this is the right place

    Cons

    If you are early in your career I would not go to the FED. One will obtain bad working habits that will not translate to the private sector (I know the FED is private but it is not ran that way). You will not be rewarded for keeping your skills up to date nor learning new skills. Very basic skills that are requirements to perform one's job are often missing from people who have been at the FED for a long time. I was actually pull aside a couple of times and asked why I was working so hard.... Or pulled aside to tell me "We are not working with smart people"... But again is you are looking to cruise to retirement.. this is a good place to work... If one is in tech or big data - you will becoming to a graveyard.

    Advice to Management

    Hire management outside of the company that can evaluate talent and keep good employees.


  4. "Decent place to work but no growth."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Engineer in New York, NY
    Current Employee - Senior Engineer in New York, NY
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Good Work life balance, pays very well and good benefits.

    Cons

    Work can be very repetitive. Hard to learn new skills. If you are looking for challenging work and to develop your skills, then this is not the place for you.

    Advice to Management

    I would appreciate if Management can recognize talent and provide a pathway for growth to talented employees.


  5. "Good balance"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends

    I have been working at Federal Reserve Bank (NY) full-time

    Pros

    Educational growth and work life balance

    Cons

    Compensation
    Bureaucracy
    Sometimes slow to act


  6. Helpful (3)

    "Immature Management in Common Services"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager Common Services in New York, NY
    Former Employee - Manager Common Services in New York, NY
    Doesn't Recommend
    Neutral Outlook

    I worked at Federal Reserve Bank (NY) full-time

    Pros

    Very good cafeteria in both builidings

    Cons

    In Common Services group Management is Aggressive, Immature and Egotistical. They do not understand how to communicate with or motivate high quality engineers. Regarding the Artificial Intelligence and Big Data areas they are only starting and have no vision or understanding of their capabilities.

    Advice to Management

    Hire more mature management that understands how to motivate high quality engineers.


  7. Helpful (2)

    "Director"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Very rewarding experience, you learn about the Fed's dual mandate and how the central Bank accommodates the monetary policy. Cordial atmosphere and diverse workforce.

    Cons

    Career advancement a bit slow, so if you are on an accelerated or fast track career path, Fed is not the place for you.

  8. Helpful (2)

    "Great Place to Work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Federal Reserve Bank (NY) full-time

    Pros

    Excellent benefits, work/life balance and professional opportunities

    Cons

    Certain decisions made by committee due to the organizational structure (12 reserve banks and the board of governors)

    Advice to Management

    Focus on key businesses and risks


  9. Helpful (3)

    "Only if you know somone"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I have been working at Federal Reserve Bank (NY) full-time

    Pros

    flexible work schedule is the only thing that keeps me here

    Cons

    This place is a world of it's own, a culture of it's own. They talk about diversity and inclusion, yet discriminate against their own employees advancement. An outsider is permitted to apply for a position that a current employee can't if it is more than two pay grades above their current one, even if they meet all of the qualifications. This is truly asinine. And certain positions are looked down upon in this place. And it's all about who you know not what you know.

    Advice to Management

    Practice what you preach.


  10. Helpful (4)

    "Strong work-life balance, great benefits, collegial environment - limited career growth"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Disapproves of CEO

    I have been working at Federal Reserve Bank (NY) full-time

    Pros

    Work-life balance, great benefits, collegial environment

    Cons

    Tenure (length of service) matters more than quality of work product or new ideas

    Advice to Management

    Incorporate more senior-level turnover to provide growth opportunities and career paths for mid-level staff and to deepen the "talent bench"


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