Federal Reserve Bank (NY) Reviews | Glassdoor

Federal Reserve Bank (NY) Reviews

Updated May 6, 2017
184 reviews

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Full-time Part-time

3.2
Star Star Star Star Star
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Federal Reserve Bank (NY) President & CEO William C. Dudley
William C. Dudley
89 Ratings

184 Employee Reviews

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Pros
  • The bank strives to ensure a good work life balance/ (in 53 reviews)

  • Good place as a fresh college graduate but slow sometimes; great benefits (in 24 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. "Love the place, will work to make it even better"

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Software Engineer in New York, NY
    Current Employee - Software Engineer in New York, NY
    Recommends
    Approves of CEO

    Pros

    The people are awesome -- there are many bright and non-workaholic folks, which makes it great to work there on both intellectual and work-life balancing levels. Benefits are hard to beat.

    Cons

    There is some tendency for top-down-because-I-said-so management and bureaucracy but both can be overcome with a bit of confidence and personal contacts.

    Advice to Management

    Being senior does not always mean that you know better. But you knew that already...


  2. "Great place to work and to start a career in finance."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in New York, NY
    Current Employee - Analyst in New York, NY
    Recommends

    Pros

    Prestige and brand name
    Interesting and meaningful work
    Nice colleagues
    Flexible work arrangements
    Project based and room for career growth
    Excellent benefits that are very tough to beat

    Cons

    Government stigma, although quasi, which is difficult to explain to family and friends exactly what you do there.
    Clashes between more experienced and younger employees. Older employees may be stubborn at times.
    Political and red tape, especially when implementing more efficient ways of doing things.

    Advice to Management

    Seek younger employees that bring a new prospective and energy to the company. Increase bonuses / performance rewards to compete with private sector in order to retain top talent.


  3. "Great place to work and do research"

    Star Star Star Star Star
    Current Employee - Research Associate in New York, NY
    Current Employee - Research Associate in New York, NY

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

    Pros

    RAs are given a lot of independence and trust. You will learn a ton and be well prepared for grad school after. You are given the opportunity to direct your work towards what you are interested in.

    Cons

    Work flow isn't always steady. That meas sometimes you're swamped and sometimes you're bored


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. "Great place for development"

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

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

    Pros

    Encourage learning; tuition reimbursement; interesting work

    Cons

    bureaucratic; hierarchical; a capped promotion ladder without a graduate degree

    Advice to Management

    Let dynamic young employees gain more responsibility


  6. Helpful (2)

    "Great place to work, poor management"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior IT Support Analyst in New York, NY
    Former Employee - Senior IT Support Analyst in New York, NY
    Recommends
    Approves of CEO

    I worked at Federal Reserve Bank (NY) full-time (More than 10 years)

    Pros

    The people are friendly and are willing to help out if you ask. Flexible schedule in some department. Opportunity to grow. Great benefits!

    Cons

    Management needs training. Won't listen to employees input. Don't ask for a raise, you won't get one.

    Advice to Management

    Get training in how to deal with employees. Pay attention to employee's concern when it comes to work.


  7. "Great Place To Work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Summer Analyst in New York, NY
    Former Employee - Summer Analyst in New York, NY
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Challenging, intelligent people working here. Great perks too

    Cons

    work-life balance suffers through challenging times

    Advice to Management

    More recognition to lower-level associates


  8. "Corporate"

    Star Star Star Star Star
    • 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 3 years)

    Pros

    Excellent value proposition; challenging & rewarding work, very smart people and contributing to the health of the economy

    Cons

    Some pockets of the bank are in a time warp

    Advice to Management

    Continue to build and implement leadership principles and dimensions


  9. "Amazing place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Smart people. Meaningful work. Amazing work life balance

    Cons

    The salaries are slightly lower than industry.


  10. "Federal Reserve Bank (NY)"

    Star Star Star Star Star
    Current Employee - Operations Manager in New York, NY
    Current Employee - Operations Manager in New York, NY

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

    Pros

    good compensation, great benefit and excellent leaderships

    Cons

    commuting to the city sometimes is difficult


  11. "Very satisfying place to work, both professionally and personally."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in New York, NY
    Former Employee - Anonymous Employee in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Colleagues are often very intelligent and motivated by a strong sense of mission. Flex time available to all employees. Benefits are terrific. You feel good about working there.

    Cons

    The organization can be slow to move on things, particularly non-performing employees.


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