Federal Reserve Bank (NY) Reviews | Glassdoor

Federal Reserve Bank (NY) Reviews

Updated December 9, 2018
227 reviews

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3.5
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Federal Reserve Bank (NY) President & CEO William C. Dudley
William C. Dudley
109 Ratings

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 67 reviews)

  • "Great benefits, latest tech, nice work environment" (in 24 reviews)

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

  • "Work life balance during peak season is nonexistent" (in 6 reviews)

More Pros and Cons

  1. Helpful (1)

    "Summer Analyst"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Really great people and culture, develop a lot of both technical and soft skills

    Cons

    A lot of meetings, sometimes tedious work


  2. "Great Place"

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

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

    Pros

    Learning, environment, perks, collegiate, compensation

    Cons

    Bureaucracy, rigidity, slow advancement, red tape

    Advice to Management

    Keep going

  3. Helpful (1)

    "Smart People, Too Political"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - IT Manager in Elizabeth, NJ
    Current Employee - IT Manager in Elizabeth, NJ
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Exceptionally smart and decent IT co-workers and training is pretty good. Benefits good. Management cares about your work life balance.

    Cons

    Takes too long to get IT projects into Production. Many fail because of internal politics. Any innovation dies in a stranglehold due to this. Run Build Plan is broken.

    Advice to Management

    Decide what you want for the good of the business. Stop infighting.


  4. "Good place to prep for Ph.D."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Research Associate in New York, NY
    Former Employee - Senior Research Associate in New York, NY
    Recommends
    Positive Outlook

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

    Pros

    Very collegial and flexible, can work hard if interested and work less if not.

    Cons

    Salary is same as at all Feds, but cost of living is much higher.


  5. Helpful (2)

    "Great place for work life balance but don’t expect to get motivated quickly regardless of the work you put in"

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

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

    Pros

    Excellent work life balance, you get every other Friday off plus all bank holidays plus sick leave

    Cons

    Bureaucracy, don’t get merit based promotions


  6. "Interning at the Federal Reserve Bank"

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

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

    Pros

    Very nice place to work. The people are nice and always happy to answer questions. The cafeteria over there was nice meeting new people in different apartment. The internship was the most enjoyable place to work out.

    Cons

    Couldn't think of any cons , unless you don't like being watch. It is the Feds, of course they would be concern in letting new people in.


  7. "Rewarding"

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

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

    Pros

    You'll learn a lot of skills and get to grow with a cohort of other analysts. Bosses provide a mentor-like relationship.

    Cons

    The cubicle farms are dreary.

  8. Helpful (2)

    "Markets Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Market Analyst in New York, NY
    Former Employee - Market Analyst in New York, NY
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Good benefits and you can't get fired no matter how bad you are at your job.

    Cons

    Career growth is slow and depends on office politics. Bad managers are promoted purely because they know the right people, or have stayed around longest. There are no checks on bad management such as manager reviews or skip levels. Even when it was very clear that certain groups were unhappy with management, no steps were taken to improve the situation, really the only way to get out of the cycle was to leave to another group or another job, which plenty of people did.

    Advice to Management

    Don't be so insecure. Managers feel like they can't acknowledge their faults or the faults of their work environment. Because of this they either try to cover up problems or just ignore them until there is an emergency. This just amplifies the problems that are already there.


  9. "Analyst"

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

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

    Pros

    Great benefits, latest tech, nice work environment

    Cons

    No work life balance, no clearly defined objectives, fear made it hard to relate with top management

    Advice to Management

    There's need for transparency in goal setting, proper training before people are transitioned to roles, a more open HR policy


  10. "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*.