Federal Reserve Bank of Chicago Reviews | Glassdoor

Federal Reserve Bank of Chicago Reviews

Updated February 21, 2017
98 reviews

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Full-time Part-time

3.6
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Federal Reserve Bank of Chicago President & CEO Charles Evans
Charles Evans
57 Ratings

98 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)

  • Senior management in the Supervision and Regulation division is not strong (in 4 reviews)

More Pros and Cons

  1. "Working @ the Reserve"

    Star Star Star Star Star
    • 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 full-time (More than 3 years)

    Pros

    A wonderful place to work and very helpful management. HR Excellent at getting back to you.

    Cons

    Very little upwards mobility due to thw nature of the kind of work.

    Advice to Management

    non


  2. "Supervision and Regulation"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Risk Management Specialist in Chicago, IL
    Former Employee - Risk Management Specialist in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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

    Pros

    Benefits are very good. Some co- workers are trustful and hard-working, but others are not.

    Cons

    Only yes people advance. I experienced discrimination, micromanagement, second guessing, bullying tactics.

    Advice to Management

    Practice what you preach. Publicly promote inclusion and transparency but practice the complete opposite.


  3. "Great Benefits"

    Star Star Star Star Star
    • 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

    Pros

    Good vacation and personal time off
    Paid holidays
    Great medical and dental options
    Paid maternity and parental leave
    Great 401K plan

    Cons

    Travel
    Non-flex schedules
    Work life balance
    Limited career advancement opportunities


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  5. "Great Place to Work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in West Des Moines, IA
    Current Employee - Anonymous Employee in West Des Moines, IA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    The Fed has been a wonderful career - huge emphasis on career development, very intelligent and caring people, and I feel my work has purpose.

    Cons

    Upper management sometimes makes decisions to appease individuals rather than the greater population. Decision-making is highly centralized in upper management, with very little authority given to lower management.

    Advice to Management

    Continue to improve transparency and entrust your managers to make decisions.


  6. "A good start"

    Star Star Star Star Star
    • 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
    Approves of CEO

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

    Pros

    The FRB Chicago had good benefits, decent salary, reasonable hours and I was able to work with some very smart people who took pride in their work. It was a good place to start my career.

    Cons

    A lot of the smart, ambitious people leave after a few years because of the lack of upward mobility. While some of the "lifers" in upper management are good at what they do, some are so entrenched in the Fed way, that they aren't very open to new ideas.

    Advice to Management

    Identify top professional talent and do what you can to retain them... maybe rotate them through departments, give them exposure to different processes and disciplines, and give them a path to more responsibility and promotions.


  7. "Passive aggressive culture in Supervision and Regulation Department led to a high degree of dissatisfaction."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Supervision Analyst in Chicago, IL
    Former Employee - Supervision Analyst in Chicago, IL
    Doesn't Recommend
    Approves of CEO

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

    Pros

    Great benefits and flexible time. Not many pros if you are an analyst. The work at the Chicago Fed is focused on the examiner skill set. Analyst turn over was high during my seven year tenure.

    Cons

    The culture is highly political and excessively passive aggressive. Management does not appreciate free thinkers and has no appetite for change. The vetting process for written materials is extreme to the point the finished product barely resembles original draft or intent. They brought in many free thinkers from outside industry during the finncial crisis but those people have all moved on now as thier thoughts and contributions were not valued. Self promotion is tolerated and expected, not collaborative, favorites easily identified, worst culture I have ever experienced.


  8. "Great place to work"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Business Operations Manager in Chicago, IL
    Current Employee - Business Operations Manager 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

    Great work life balance/flexibility. Lots of opportunities for advancement. Lots of focus on individual development. People really care about what they are doing.

    Cons

    Just the overly conservative environment. Fear of taking risks. No one wants to make a decision or feels empowered to make a decision. Overly afraid of appearances - even when we should be taking a stand.

    Advice to Management

    Stop being so afraid of what the public will think of our salaries. We are underpaid and you guys are cheap with the raises, salaries, and other spending (e.g., we have to write a novel to get a team lunch approved, come on).


  9. "Good company"

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

    Pros

    Kind people. Good work area.

    Cons

    Sometimes feel boring to do daily work. Low pay.


  10. "Employee"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at Federal Reserve Bank of Chicago full-time

    Pros

    Learn a lot early career. Nice office and amenities, lot of natural light when you're seated next to windows.

    Cons

    Work can get repetitive. Promotions opaque. Silos mean you never really know what other people do, production environment means you don't care what other people do.


  11. "Lead Risk Management Specialist"

    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 of Chicago full-time

    Pros

    Fun job. Opportunity to gain horizontal perspectives

    Cons

    Ability to move around is limited



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