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Federal Reserve Bank of Boston Reviews

Updated Jan 26, 2023

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Found 111 of over 139 reviews
3.7
42% Recommend to a Friend
Federal Reserve Bank of Boston CEO and President Susan M. Collins
100% Approve of CEO

Found 111 of over 139 reviews

3.7
42%
Recommend to a Friend
100%
Approve of CEO
Federal Reserve Bank of Boston CEO and President Susan M. Collins
Susan M. Collins
3 Ratings

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What’s the best way to have a lack of compensation and incentive conversation in your department? I went above and beyond for years doing extra work, organizations etc and nothing has been reflected in pay. I thought my 5 year was going to finally show something but it did not. I’ve inquired about pay but it’s gotten nowhere.

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Top Review Highlights by Sentiment

Pros
Cons
Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.
  1. 5.0
    Current Employee

    Great Place to Work

    Nov 4, 2022 - Associate 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Work life balance, job security

    Cons

    Repetitive, similar types of people

    Be the first to find this review helpful
  2. 4.0
    Former Employee

    Good Benefits, Decent Pay, high intensity

    Jan 26, 2023 - Cash Handler 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    The pay is pretty decent, the benefits are really good with a great 401k, pension after 5 years, great health insurance, paid time off is decent as well.

    Cons

    This is a very high-paced high stress work enviornment. Working in the cash department means dealing with a lot of strict procedures, and controls due to security reasons, It's very easy to make the slightest mistake and if you do you will get written up for it.

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  4. 5.0
    Current Employee, more than 1 year

    Superficiality > Substance

    Jun 15, 2022 - Software Engineer 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    If superficiality is your thing, please see the 5 stars above.

    Cons

    If substance is what you value, here are 5 reasons for each of the 5 stars. 1. Meetings > Work: We all know that the more meetings we have, the more important we are. The meetings and meetings and meetings about meetings! FRB Boston is just the utopia of meetings. It's not just the number but also the participant count in each of the meetings that make this place the best place for meetings. And, the real jewel of the crown is the participant count. Imagine whole day meetings with more than 200 people. Oh, I should say "frequent" whole day meetings with 200 people. Just looking at my calendar full of meetings makes me feel so productive. Is there anything better? If your answer is "yes", then you are right and this place is for you. Overlapping meetings! There is an official "No meetings on Friday" rule. But, rules are meant to be broken. And the top brass makes it happen. 2. Excuses > Execution: This is the perfect place, one that never runs out of excuses. "I don't know" is the most common of them all. But, to the list are "It's out of my hands", "I've never done this before", "This is how it's always done here", etc. Then, there are the completely of the world ones. In one my meeting (yes, meetings are unavoidable), I asked the senior most executive of the project to create a Microsoft Teams channel for kudos. You know, one we can use to praise someone else for a job well done. His response was, "We can't do that here". Sadly, there was no Kudos channel else to give kudos to this executive for that excuse. The excuses seem to get better as the seniority increases. Ask a brand new engineer, "I need help finding this information?" and the response could be "Let me get that for you." Ask the top brass "I need help fixing this problem" and the response could be "My hands are tied." 3. Chaos > Order: Imagine developing an absolutely amazing software application, one that has the best of breed technologies and does incredible amount of public good. This is what the FedNow project aims to achieve. Well, at least on paper. Everyone and their grandmother these days uses cloud solutions. And for good reason. Hence, the decision here to use cloud services. Excellent. However, this place goes a few steps further. Microservices? No no no. Monolithic? Yes yes yes. So, spin up EC2 instances and deploy applications there. There's more. Don't use AWS provided solutions. Instead spin up more EC2 instances and deploy databases there. There's even more. Don't use AWS App Mesh. Spin up even more EC2 instances and deploy service mesh servers there. There's more. So much more. One fine day, there is a brand new member in the team. Everyone in the management team knew but no on the team was made aware. One fine day, someone in the team leaves all of a sudden. Everyone in the management team knew but no one in the team was made aware. If the people down in the trenches were made aware of these upcoming changes right away, there will be too much order and not enough chaos. Hence all the secrecy. It's a no brainer. Quite literally. 4. Missed deadlines > Met deadlines: This wonderful project called FedNow started. With great hopes and great expectations. Then, things began to go awry. Unsure why. There are so many meetings and meetings. And a plethora of excuses to go along with the meetings. And the widespread chaos. In spite of all these, things started slipping. It was incomprehensible. Having all those meetings alone should have been enough. It's like buying all those weight loss books and watching all those weight loss youtube exercises and still not losing weight. Who cares about diet and exercise. Just buying those books and watching those videos should be good enough. So incomprehensible. Who would have thunk. So, they did the absolute right thing. They did what everyone expected them to do. Had more meetings. For longer durations. With more people. And hey, guess what the end result turned out to be. 5. Leadership redefined: Step 1 - Hire an absolutely competent leader. Step 2 - Leader decides to have all the QA tests using X technology. Step 3 - Things go haywire initially. But, the engineers start to make it happen. Step 4 - Fire the absolutely competent leader. Step 5 - Go back to step 1. Step 6 - Achieve results. This concludes Part I. If you want to know about subsequent parts, you have to experience them first hand. In which case, please join FRB Boston.

    7 people found this review helpful
  5. 4.0
    Former Employee, more than 5 years

    Great benefits

    Sep 29, 2022 - Anonymous Employee in Boston, MA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Great benefits and plenty of career options

    Cons

    The pay for tech is below market

    Be the first to find this review helpful
  6. 3.0
    Current Employee, more than 1 year

    So far behind

    Mar 8, 2022 - Software Engineer in Boston, MA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Work Life Balance is very good if you set boundaries and don’t let them take advantage of you Healthcare benefits are pretty good FedNow uses ok tech 401k match is pretty high

    Cons

    Pay kinda sucks and they refuse to adjust our pay for the outrageous inflation the FRS is partially to blame for. PTO benefits are below average. 3 weeks is bad in 2022. Sick time is policed heavily by HR. It should just be one bucket of PTO. We earned it, let us use it how we want to. Extra COVID leave is not available to single employees without children. FedNow Leads are expected to contribute more than most people and makes it so that they are stretched thin and can’t effectively lead. Management doesn’t appreciate people until they threaten to leave HR thinks the pension is a good benefit despite a 5 year vesting period for such a low amount and uses it to lowball you. There’s barely any diversity in leadership. Heavy majority of leaders are straight white people. Hiring in FedNow is very top heavy when it comes to experience Uses SAFe as their agile methodology Management likes to promise answers to questions then never follows up

    Continue reading
    10 people found this review helpful
  7. 3.0
    Current Employee, more than 3 years

    Program Lead

    Nov 7, 2022 - Program Lead in Boston, MA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Good benefits, tuition reimbursement, learning culture

    Cons

    Bureaucratic structure, slower pace of work

    Be the first to find this review helpful
  8. 3.0
    Current Employee, less than 1 year

    Meh

    Oct 28, 2022 - Research Assistant in Boston, MA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    It's not that difficult and you consistently work 40 hours a week with flexible timing.

    Cons

    Most of the work is actually quite boring

    Be the first to find this review helpful
  9. 5.0
    Former Employee

    Nice place

    Aug 18, 2022 - Anonymous Employee 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Amazing work and benefits with great culture

    Cons

    None as specific since mostly WFH

    Be the first to find this review helpful
  10. 5.0
    Former Employee

    Loved my job!

    Aug 5, 2022 - Flight Attendant 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    A great place to worked. I loved my job.

    Cons

    Nothing as it was a great place to work.

    Be the first to find this review helpful
  11. 4.0
    Current Employee, less than 1 year

    Good company

    Jul 31, 2022 - Senior Software Engineer in New York, NY
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Great benefits (pension, 401K, medical)

    Cons

    I can't think of any.

    Be the first to find this review helpful
Viewing 1 - 10 of 111 Reviews
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Federal Reserve Bank of Boston Reviews FAQs

Federal Reserve Bank of Boston has an overall rating of 3.7 out of 5, based on over 139 reviews left anonymously by employees. 42% of employees would recommend working at Federal Reserve Bank of Boston to a friend and 58% have a positive outlook for the business. This rating has decreased by -12% over the last 12 months.

According to anonymously submitted Glassdoor reviews, Federal Reserve Bank of Boston employees rate their compensation and benefits as 3.6 out of 5. Find out more about salaries and benefits at Federal Reserve Bank of Boston. This rating has decreased by -11% over the last 12 months.

42% of Federal Reserve Bank of Boston employees would recommend working there to a friend based on Glassdoor reviews. Employees also rated Federal Reserve Bank of Boston 3.5 out of 5 for work life balance, 3.0 for culture and values and 3.3 for career opportunities.

According to reviews on Glassdoor, employees commonly mention the pros of working at Federal Reserve Bank of Boston to be coworkers, career development, benefits and the cons to be diversity and inclusion, management, culture.

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Glassdoor has 139 Federal Reserve Bank of Boston reviews submitted anonymously by Federal Reserve Bank of Boston employees. Read employee reviews and ratings on Glassdoor to decide if Federal Reserve Bank of Boston is right for you.