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"Work life balance, benefits, vacation time" (in 69 reviews)
"Great benefits, work flexibility & location" (in 25 reviews)
"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)
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.
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.
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.
Helpful (1)
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
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.
I have been working at Federal Reserve Bank (NY) full-time
Pros
Great benefits, work flexibility & location
Cons
Hard to change work cultures
Helpful (1)
Pros
Really great people and culture, develop a lot of both technical and soft skills
Cons
A lot of meetings, sometimes tedious work
Helpful (1)
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
Helpful (1)
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.
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.
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Federal Reserve Bank (NY) Response
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