Federal Reserve Bank (NY) Reviews | Glassdoor

Federal Reserve Bank (NY) Reviews

Updated February 5, 2019
235 reviews

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3.8
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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. "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.