Federal Reserve Bank of Chicago Reviews | Glassdoor

Federal Reserve Bank of Chicago Reviews

Updated December 18, 2018
133 reviews

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3.5
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Federal Reserve Bank of Chicago President & CEO Charles Evans
Charles Evans
79 Ratings

Employee Reviews

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

  • "No free thinkers here, If you are you get shown the door" (in 3 reviews)

More Pros and Cons

  1. "Senior Professional"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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 esprit de corps of the mission of the FRB-C
    Intellectual workplace
    Genuinely inclusive workplace environment
    Management is capable

    Cons

    Can be a little bureaucratic


  2. Helpful (1)

    "The Firm"

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

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

    Pros

    Benefits are excellent compared to private sector organizations. Some good people left.

    Cons

    Most of the Regulatory Supervision Managers advance because they either drink the cool aid or dispense it, or both. No free thinkers here, If you are you get shown the door. Keep your opinions to yourself otherwise you won't survive. Gestapo like tactics are used to get the point across. This was a very toxic environment to work in. It is shameful because the work could be very rewarding.

    Advice to Management

    Dont just talk to transpancey talk.

  3. Helpful (8)

    "Great place to start or end a career...dont stick around too long"

    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 (More than 3 years)

    Pros

    -Good training for new grads
    -Most depts have good work/life balance
    -Nice people and mgmt in some depts
    -Gym/Cafeteria
    -Some depts very good leadership with friendly folks
    - Good retirement benefits
    -Winding down a career this a good place

    Cons

    -VERY political in many depts, not what you know but who you know and who may threaten their power
    -Reviews are unjust. Mgmt not involved with IC's get a say in determining their scores. This is done so Sr mgmt can have a consenus of who to promote. Lots of unqualified Fed lifers moving to areas they are not qualified in for mgmt. this is done by design so others power is not threatened.

    Advice to Management

    Gut the HR leadership and fix performance reviews. Reviews are poltiical only and dont address bottom line performance reviews, just distant goals that are unachievable. Way too many unqualified leadership with no experience in their fields. Hire people from the outside who are not "lifers" and actually were held accountable for business success in their careers.


  4. Helpful (12)

    "We need to earn that positive image"

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

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

    Pros

    We have some great people who would always side with the truth. That said, we also have some other people and managers, who would fight ferociously to conceal the truth at the expense of others, and try to deceive people to justify their actions. Now that has nothing to do with greatness or good chemistry. That's just disappointing. Our great people have to do something about all the wrongdoing and cover-up.

    Cons

    Somebody has to tell the truth. We are so desperate for having a positive image, we have a person who writes fake good reviews for the Fed every once in a while. The real reason why we use a rainbow-themed picture as our profile photo is our need to appear as a discrimination-free institution. Truth is Fed is hardly free of discrimination. Just search online about "Federal Reserve Bank of Chicago discrimination" and you will find publicly available records of court cases that we lost. We treat some of our employees horribly, and sometimes ruin their lives . If you were to hear what we did to some people, you would wonder if we lost our minds. Some of us know that we do wrong to people but don't talk about it. We can do better than just staying quiet.

    Advice to Management

    What we need to understand is that Fed cannot have a positive image by posting good reviews, rainbow photos, and covering up the truth. We need to earn that positive image and people's respect by taking real action. We need to admit our mistakes, learn from them and try to do our best to fix them however we can.


  5. "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


  6. Helpful (4)

    "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


  7. "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.

  8. 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


  9. 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


  10. 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.