Federal Reserve Bank of Chicago Reviews | Glassdoor

Federal Reserve Bank of Chicago Reviews

Updated July 17, 2018
129 reviews

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3.8
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Federal Reserve Bank of Chicago President & CEO Charles Evans
Charles Evans
78 Ratings

129 Employee Reviews

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Pros
Cons
  • "There are areas of the bank that are still old school and work too much" (in 4 reviews)

  • "A lot of the smart, ambitious people leave after a few years because of the lack of upward mobility" (in 4 reviews)

More Pros and Cons

  1. Helpful (1)

    "bank examiner"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Bank Examiner in Chicago, IL
    Current Employee - Bank Examiner in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Federal Reserve Bank of Chicago full-time (More than 3 years)

    Pros

    work environment, benefits, culture, flex fridays, overall compensation

    Cons

    Management is usually good, however, I can recall one or two exceptions.

    Advice to Management

    Continue to strive for the best environment and value your employees.


  2. "Application Support Analyst"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    This company has really good benefits

    Cons

    The company culture is a bit too political

  3. "A good place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    - Stable company
    - Great people
    - Works towards real benefit for U.S. citizens

    Cons

    - Managers often lack management skills
    - Organizational changes (particularly in support areas) are made without clear vision or direction
    - Incredibly long average length of employment among staff in all areas can make change difficult

    Advice to Management

    - Provide ongoing training for managers at all levels
    - Develop vision to drive comprehensive, meaningful organizational change


  4. "Great place to make a difference"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Chicago, IL
    Current Employee - Anonymous Employee in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Federal Reserve Bank of Chicago full-time (More than 8 years)

    Pros

    Wonderful mission and transparent, considerate management

    Cons

    Lots of bureaucracy, especially in bank supervisory functions.


  5. Helpful (1)

    "Great work experience"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Federal Reserve Bank of Chicago full-time

    Pros

    Great benefits, very reasonable hours

    Cons

    Somewhat limited professional development opportunities


  6. Helpful (1)

    "Great place to work, outstanding benefits"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President in Chicago, IL
    Current Employee - Assistant Vice President in Chicago, IL
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Federal Reserve Bank of Chicago full-time (More than 3 years)

    Pros

    collaboration, progressive policy and outstanding benefits

    Cons

    bureaucracy, not nimble, slow to hold people accountable

    Advice to Management

    hold people better accountable for actions and attitude


  7. Helpful (6)

    "Construction Lead"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Construction Lead in Chicago, IL
    Former Employee - Construction Lead in Chicago, IL

    I worked at Federal Reserve Bank of Chicago full-time (More than a year)

    Pros

    Good benefits. Unpressured work schedule.

    Cons

    6 months of nepotism, petty corruption and micro-management, before I ultimately found a replacement position that paid $40K more...

    Advice to Management

    None that "management", or more appropriately HR would ever consider rocking the boat for.

  8. Helpful (1)

    "Great work place"

    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 of Chicago full-time

    Pros

    Great work life balance at the Chicago Fed.

    Cons

    Culture promotes speaking in an obscure long winded manner for things that could be summed up in this 20 word minimum on glassdoor.


  9. "Pretty good"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Federal Reserve Bank of Chicago full-time (More than 5 years)

    Pros

    Meaningful work, flexible hours, good benefits

    Cons

    Bureaucratic, IT security, too much focus on seniority


  10. "Workplace where there's no pressure to please shareholders"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Bank Examiner in Chicago, IL
    Current Employee - Bank Examiner in Chicago, IL
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at Federal Reserve Bank of Chicago full-time (Less than a year)

    Pros

    People have an interest in your develop and your success
    Good work life balance, rarely a 50+ hour work week
    You will rarely get contacted after work hours for work related information

    Cons

    Slower moving organization, bureaucracy and many layers of review
    Not much opportunity to innovate; more and more is being driven from Washington
    Any time there is a Federal pay freeze, salaries are frozen for Federal Reserve employees even though they are not government employees.


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