Federal Reserve Bank of Cleveland Reviews | Glassdoor

Federal Reserve Bank of Cleveland Reviews

Updated September 18, 2017
48 reviews

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3.6
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Federal Reserve Bank of Cleveland President/CEO Loretta J. Mester
Loretta J. Mester
14 Ratings

48 Employee Reviews

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  1. "Excellent place to work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Operations Supervisor in Cincinnati, OH
    Former Employee - Operations Supervisor in Cincinnati, OH
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Excellent pay and benefits. Great management team.

    Cons

    There weren't any cons at the Federal Reserve Bank.

    Advice to Management

    Keep up the good work!


  2. "Cash Department"

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

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

    Pros

    Great people who are always willing to help and guide you in the right direction.

    Cons

    Work isn't to enticing, however you learn about the enigma of the fed.

  3. "FRB Cleveland is a Great Place to Work!"

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

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

    Pros

    I have worked here for 10+ years and have found numerous opportunities to grow and advance my career. If you are someone who owns their career management you can go as far as you want here.

    Cons

    At times the organization may be slow to make a decision.

    Advice to Management

    Continue to create leadership opportunities and experiences for all employees, with an emphasis on high-potentials. Continue to hold people accountable.


  4. Helpful (1)

    "Assistant Vice President"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    benefits, 401-k, portable pension, vacation

    Cons

    regressive, group think, behind the times

    Advice to Management

    concentrate on improving diversity of thought instead of just looking diverse


  5. Helpful (2)

    "Success depends on manager"

    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
    Approves of CEO

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

    Pros

    The benefits are top-notch, and while the culture is unique and takes some getting used to, this is a friendly place to work overall. Coworkers/peers are the bank's saving grace: truly a bunch of amazing, supportive people overall.

    Cons

    Happiness and success are wholly dependent on one's manager. Abusive managers are often rewarded in this environment, especially if they play politics with officers, to the detriment of the entire bank. There's a real tendency to grasp at any power. Employees have been departing in droves all over the bank, either being fired for minor infractions or because their jobs are downsized or quitting because they can't take management's abuse. Some managers live the values, but others talk about work-life balance while sucking any joy from the job and penalizing people for requesting any flexibility. Opportunities for advancement are very few and far between. People often excel for years in the same position only to get a lateral move rather than a promotion. Raises are scant regardless of annual review status.

    Advice to Management

    Stop giving lip service to "innovation" while digging your nails and heels into tradition for the sake of tradition. Let your employees do their jobs, especially if they've been doing their jobs competently for years.


  6. "Senior leaders need to walk the talk"

    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 Cleveland full-time

    Pros

    Middle management actually cares about employees and tries hard to achieve a reasonable work/life balance.
    On-site cafeteria and fitness facilities are a big plus.

    Cons

    Senior vice presidents and above are totally out of touch with the real world of their own organization - and yet are the ones making business and personnel decisions with limited input from middle management.

    Advice to Management

    Senior leaders need to actually walk the talk. You can't expect trust when you don't demonstrate trustworthiness. Employees can see through the rhetoric and many are staying put only until an opportunity come along.


  7. "Great place to work and learn"

    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

    Pros

    Relaxed yet academic environment with numerous resources for growth. Amazing management

    Cons

    Limited room for growth without a PhD but that's common for this position across many employers.

  8. "Ok"

    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 Cleveland (More than 8 years)

    Pros

    Benefits are great and affordable.

    Cons

    Atmosphere and culture are less than desirable

    Advice to Management

    Fix the problem rather than hide the problem.


  9. "Administrative Assistant"

    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

    Pros

    Hope you get lucky and find a good manager

    Cons

    Not a federal job,

    Advice to Management

    Unfair, like most jobs need to be friends with management to progress


  10. Helpful (3)

    "FRB Clevleand"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Bank Examiner II in Dublin, OH
    Former Employee - Bank Examiner II in Dublin, OH
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    Good place to build a foundation for the private sector. Work/life balance exceptional at times.

    Cons

    Pay may not be as competitive as the private sector.

    Advice to Management

    Prioritize compensating your best talent regardless of years spent with the company.


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