Federal Reserve Bank of Chicago Reviews | Glassdoor

Federal Reserve Bank of Chicago Reviews

Updated April 25, 2018
126 reviews

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

126 Employee Reviews

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Pros
Cons
  • Decision-making is highly centralized in upper management, with very little authority given to lower management (in 5 reviews)

  • There are areas of the bank that are still old school and work too much (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. 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

  3. 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


  4. 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.


  5. 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.


  6. "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


  7. "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.

  8. "Associate Accountant"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Bank of Chicago full-time

    Pros

    Work life balance is good

    Cons

    The salary is too low

    Advice to Management

    Give Staff a higher Salary


  9. "Great employer!"

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

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

    Pros

    Great place to work! Excellent benefits, advancement opportunities and work/life balance.

    Cons

    Lots and lots of approvals are needed for everything.

    Advice to Management

    Be careful not to micromanage.


  10. "Not what you'd expect"

    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
    Positive Outlook
    No opinion of CEO

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

    Pros

    Very opened-minded friendly environment. You'd think they'd be really uptight at the Fed but they aren't. They expect professionalism but aren't as conservative as one might expect. Very clean, super nice facilities. Almost everyone I met was extremely professional and really worked to make me feel special and a part of the team.

    Cons

    Training isn't really something they have the time or processes to provide. They really expect and need you to hit the ground running. If you don't do something right they don't have time to sit down with you and explain how to do things right.

    Advice to Management

    You all are doing a great job but provide more constructive timely feedback.


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