Federal Reserve Bank (NY) Reviews | Glassdoor

Federal Reserve Bank (NY) Reviews

Updated October 15, 2017
198 reviews

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3.3
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Federal Reserve Bank (NY) President & CEO William C. Dudley
William C. Dudley
96 Ratings

198 Employee Reviews

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Pros
  • The bank strives to ensure a good work life balance/ (in 57 reviews)

  • Good place as a fresh college graduate but slow sometimes; great benefits (in 25 reviews)

Cons
  • Location, the stigma of working for the government, and the fact that pay isn't as much as it would be in the private sector (in 13 reviews)

  • Conservative environment, lack of upward mobility, huge generation gap between low level employees and senior management (in 9 reviews)

More Pros and Cons

  1. "FRB"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

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

    Pros

    Great Life and work balance

    Cons

    Slow career movement and minimal year end increases


  2. "Great Benefits, Great Research, Nasty Politics"

    StarStarStarStarStar
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    In the Department of Research and Statistics you're encouraged to take classes, sit in on seminars, and you work with some smart economists. The benefits are excellent and the work life balance was great. There are also incredibly smart people to work with.

    Cons

    The politics are nasty and there's too much nepotism. The cliques amongst European and Asian expats is particularly offputting. The pay is not competitive.

    Advice to Management

    More heterogeneity amongst the economists and the RAs. The work-life balance is key to keeping good people.

  3. "Law Enforcement Officer"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Minneapolis, MN
    Former Employee - Anonymous Employee in Minneapolis, MN
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Good pay, benefits, hours, management

    Cons

    Okay supervisors, so so select co-workers


  4. Helpful (1)

    "Great place to work"

    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 (More than a year)

    Pros

    Benefits, paid time off and healthy work environment

    Cons

    Work life balance during peak season is nonexistent


  5. "Politics, Politics, Politics"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    The benefits are pretty solid, and the flex schedule is quite nice.

    Cons

    This is one of the most petty, political workplaces I've ever encountered. Lots of lifers whose only skill is ensuring that their fiefdoms remain intact. Frequent instability and restructuring, and an overly "corporate" culture despite the fact that this is a quasi-governmental organization. Overly vindictive HR department.

    Advice to Management

    Remember the organization's roots and its real stakeholders.


  6. "Balanced Employer"

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

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

    Pros

    There is a strong pull for work-life balance.
    They try to provide you with resources that would assist you in professional and personal development.

    Cons

    It is difficult to move to different positions within the Bank.
    Lack of transparency for advancement

    Advice to Management

    It would be beneficial to the Bank to incorporate employee feedback in strategic objectives.


  7. "Good benefits and Flex Fridays"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    You get other other Friday off as a Flex Day.

    Cons

    You may have to work long hours or on weekends depending on your role.

    Advice to Management

    Ease the deadlines to make them more reachable.

  8. "Associate, Markets Group"

    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

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

    Pros

    Great work-life balance and benefits.

    Cons

    The management is totally clueless when it comes to retaining talent and rewarding hard work. It is very easy to become complacent if you are not a naturally motivated person.


  9. Helpful (2)

    "Business Man"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Dallas, TX
    Current Employee - Anonymous Employee in Dallas, TX

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

    Pros

    Covered parking, They pay for school, great health plan, and good fitness center.

    Cons

    Slow advancements, some manager are unprofessional, not willing to train, Do not hire within as much, and bad structure.

    Advice to Management

    Pay people based on their performance, and help people move to position that best fit them and the bank.


  10. Helpful (1)

    "Typical Government Job"

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

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

    Pros

    The pay is below market but benefits are good. You will never be asked to work overtime or even work hard.

    Cons

    Many of the employee's skills are outdated. Would be a horrible place to start a career in tech or Business Intel. The FED is about 10 years behind on software and infrastructure. If you are motivate to bring the FED to the 21 century you may be fired - no one wants to do any work that will require current employees to upgrade skill set.

    Advice to Management

    Need to hold people accountable for not keeping skills up to date. Must reward people on accomplishments and not how long they have been with the company.


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