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Federal Reserve Bank (NY) Reviews
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    Federal Reserve Bank (NY) Reviews

    Updated February 5, 2019
    235 reviews

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    3.8
    StarStarStarStarStar
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    Recommend to a friend
    Approve of CEO
    Federal Reserve Bank (NY) President & CEO William C. Dudley
    William C. Dudley
    114 Ratings

    Employee Reviews

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    Pros
    Cons

    • "Total salary including benefits is significantly better per hour compared to similar positions in the private sector" (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. "Very positive, supportive environment that focuses on personal development as well as execution of fulfilling work."

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

      I have been working at Federal Reserve Bank (NY) full-time (Less than a year)

      Pros

      Many opportunities for growth through support in taking classes, opportunities to learn directly from experts, and frequent visits from top scholars in the upper echelon of economics. A very unique opportunity for any future economist or academic. Supervisors genuinely care about and mentor you.

      Cons

      Less base pay than other similarly competitive positions, easily made up for by better benefits including free classes and signing and moving benefits, among others. Total salary including benefits is significantly better per hour compared to similar positions in the private sector.

    2. "Incredible Benefits, Great People, Great Work Life Balance"

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

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

      Pros

      Very strong Cybersecurity leadership, and great group of people to work with.
      Benefits are second to none.

      Cons

      Cant compete with Wall St money.

      3. Join the Federal Reserve Bank (NY) team
      See Our Latest Jobs

    3. "FRBNY - a University"

      StarStarStarStarStar
      • Work/Life Balance
      • Comp & Benefits
      Former Employee - Bank Supervisor in New York, NY
      Former Employee - Bank Supervisor in New York, NY

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

      Pros

      You get to learn a lot at FRBNY. The atmosphere at FRBNY is collaborative. You also get to interface with the C-Suite at the banks you are supervising.

      Cons

      Everyone is bound by the decisions made at the Board of Governors whether it is the best for your constituency or not.

    4. Helpful (1)

      "Vice President"

      StarStarStarStarStar
      • Work/Life Balance
      • Culture & Values
      • Career Opportunities
      • Comp & Benefits
      • Senior Management
      Current Employee - Vice President in Montclair, NJ
      Current Employee - Vice President in Montclair, NJ
      Recommends
      Positive Outlook
      Approves of CEO

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

      Pros

      Work life balance, benefits, vacation time

      Cons

      Career advancement takes a long time

    5. "Great mission, but slow to change"

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

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

      Pros

      Amazing work benefits, health care, various packages and discounts leisure activities and local eateries, experience working for the U.S Central Bank, phenomenal work/life balance.

      Cons

      Bureaucracy, promotions appeared difficult to obtain, skills obtained aren't necessarily transferable unless to other central banks.

      Advice to Management

      As far as interns go, allow for more input from Summer Analysts and better interviewing process after summer internship. We were allowed to choose three groups to apply for, but number of positions was not disclosed in each group, and some of the groups we worked for during the summer weren't hiring at all.

    6. "Sr. Managers/ IT"

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

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

      Pros

      Great benefits, work flexibility & location

      Cons

      Hard to change work cultures

    7. 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

    8. Helpful (1)

      "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

    9. 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.

    10. "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.