Federal Reserve Bank (NY) Reviews | Glassdoor

Federal Reserve Bank (NY) Reviews

Updated October 12, 2018
221 reviews

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3.3
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Approve of CEO
Federal Reserve Bank (NY) President & CEO William C. Dudley
William C. Dudley
107 Ratings

221 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 65 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. "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. "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.

  3. "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


  4. "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.


  5. "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*.


  6. Helpful (1)

    "This employer is known to chew up and spit out their employees."

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

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

    Pros

    This company is staying in business for some in the future.

    Cons

    However do not let make one think of any kind of job security. Besides, the pay scale is bottom o' the barrel!

    Advice to Management

    Treat your workers a little better.


  7. Helpful (1)

    "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.

  8. "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


  9. Helpful (4)

    "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.


  10. 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.


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