Federal Reserve Bank of Chicago Reviews | Glassdoor

Federal Reserve Bank of Chicago Reviews

Updated August 24, 2017
111 reviews

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

111 Employee Reviews

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Pros
  • Good Work/Life Balance for young parent (in 22 reviews)

  • Great benefits and for most of the bank, a great work-life balance (in 18 reviews)

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. "nice place to work"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Federal Reserve Bank of Chicago full-time

    Pros

    smart people, short hours, interesting work

    Cons

    little room for upward mobility


  2. Helpful (2)

    "Analyst"

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

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

    Pros

    Great benefits. Stable working environment. I am proud of the mission of the Fed.

    Cons

    Limited room for growth if you are a entry level employee. Many junior employees leave as soon as they vest in their benefits after 5 years. Many senior employees and managers are just riding their time out until they can retire with a pension.

  3. "Check"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Great place to work

    Cons

    New security longer to get in


  4. Helpful (3)

    "Meh"

    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 (More than 8 years)

    Pros

    One of the most prestigious organizations to work for. Great benefits and for most of the bank, a great work-life balance. If you're in the right spot, this is an organization to retire with.

    Cons

    There are areas of the bank that are still old school and work too much. They also have a culture of consensus which is very frustrating if you are an innovator. Technology is slow, old, and just really out of touch.


  5. "Slow Company, Nice People"

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

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

    Pros

    Very friendly, professional and approachable work culture

    Cons

    A little slow to change, not fast enough to bring in new technologies or ideas

    Advice to Management

    Young people need technical projects to encourage them, not retirement plans. I would recommend that management find exciting projects to keep young talent, instead of encouraging employees to spend their lives with them through moderate benefits and career opportunities.


  6. "Great work and amazing people"

    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

    The benefits are top notch and the people are tremendous to work with. The type of work done at the Fed is like no other place - you can have a real impact on the U.S economy. Decisions are made for reasons other than P/L or shareholder value

    Cons

    Sluggish to embrace change, risk averse but for good reason.


  7. Helpful (2)

    "Senior Business Specialist"

    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

    Flexible schedules and family friendly environment.

    Cons

    Slow advancement pace. Below market compensation.

  8. "Great Place to Work"

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

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

    Pros

    Challenging Work
    Good Work/Life Balance for young parent

    Cons

    Can get pretty bureaucratic and "rule heavy"


  9. Helpful (2)

    "Good Career Pit Stop, Not a "Lifer" Opportunity"

    StarStarStarStarStar
    • 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 (Less than a year)

    Pros

    Flexible schedule; 12 week paid maternity leave

    Cons

    Compensation is definitely lagging relative to marketplace and alot of top talent attrition/high-level knowledge is lost due to overall rewards package not being competitive.

    Advice to Management

    Accountability is an imperative ingredient in positively impacting the culture transformation that you're seeking.


  10. Helpful (1)

    "Great place to work."

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

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

    Pros

    Awesome benefits, great work / life balance, lots of great training opportunities, growing ability to move within the organization, actively try to retain people, nice work spaces.

    Cons

    Things move at a pretty slow pace, upward mobility is fairly limited, new or impatient employees often get frustrated and leave only after a short while, extremely risk adverse on almost everything.

    Advice to Management

    Trust employees and their judgment and ability to make decisions more.


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