Federal Reserve Bank of Cleveland Reviews | Glassdoor

Federal Reserve Bank of Cleveland Reviews

Updated March 18, 2019
60 reviews

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3.0
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Federal Reserve Bank of Cleveland President/CEO Loretta J. Mester
Loretta J. Mester
18 Ratings

Employee Reviews

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Pros
  • "The company is very dedicated to work/life balance" (in 9 reviews)

  • "Great benefits including an unheard of 100% 401(k) match up to 7% and pension plan after 5 yrs of service" (in 11 reviews)

Cons
More Pros and Cons

  1. "Great place to build a career!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Internal Auditor in Cleveland, OH
    Current Employee - Internal Auditor 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

    Diverse experiences, opportunities to learn and grow, high integrity.

    Cons

    Can sometimes get a bit bureaucratic

    Advice to Management

    Keep it up!


  2. Helpful (2)

    "Overall good place to work"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Planning and Design Coordinator in Cleveland, OH
    Former Employee - Planning and Design Coordinator in Cleveland, OH
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    The Bank has very good benefits

    Cons

    Over recent years it has become a more stressful and difficult place to work due to uncertainties regarding the direction the company is going.

    Advice to Management

    Be more honest regarding the direction the company is going and give the employees a heads up regarding plans to reorganize and terminate employment (ahead of time so the employee is not misled).

  3. Helpful (2)

    "Great benefits and work life balance. Terrible management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in Cleveland, OH
    Current Employee - Analyst in Cleveland, OH
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Work life balance, benefits package, stability

    Cons

    Unqualified management. Uninspiring management. Does not reward high performers. Uneven standards depending on which manager you are under. Leads to animosity amoung staff because career progression decisions are made based upon politics and not performance.

    Advice to Management

    Listen to the divergent views you seek


  4. "Great place to work!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • 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 Cleveland full-time (More than 10 years)

    Pros

    If you work hard and stay positive you will have many opportunities. Feel like I’m part of a family. Amazing benefits!

    Cons

    Stuck in old ways at times but it is getting much better.


  5. Helpful (2)

    "Pay/Benefits good, rest is iffy"

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

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

    Pros

    Pay is good
    Benefits are good
    Work/life balance is excellent

    Cons

    Under resourced
    No direction
    Decision making process is unclear, slow
    No real goals to point to in decision making
    Management roles are given to those who want the status rather than leaders who can change and influence
    Stuck in antiquated methodologies and thinking
    Way too much consensus seeking
    Priorities change drastically without reason or notice
    Objectives seem to be set from a personal perspective (this will get me a bonus, raise or promoted) instead of what will best benefit the organization, product or service
    Working with antiquated technologies
    Getting non-Microsoft software takes an act of congress


  6. Helpful (3)

    "Stay away"

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

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

    Pros

    Benefits are good if you can keep your head down.

    Cons

    f you like a very negative and immature work culture where the managers bully people and have no self respect, this place is for you! If you are smart, professional and enjoy working with like-minded people, run, this place is not for you, . The environment is very unique and takes a very special person to accept it. If you have a better option or alternative, take it. Leadership is abrupt, rude and unprofessional. Diversity is only a look. Different thinkers are the nail that meets the hammer. I have never seen a more highly educated group exhibiting such sociopathic tendencies. You should be concerned about going to work for a company that deliberately hides data in which their past, current, and potential employees call out their negative patterns.

    Advice to Management

    Leadership is their own worst enemy. They hire what they know , people that will tell them what they want to hear. They lack the poise, professionalism and "insight" to see their own faults and allow them to be corrected. Focus on integrity and doing the right thing. Quit presenting yourself as something you're not. The truth always comes to light. Management is very proud of themselves ,even though they are nothing without good employees.


  7. Helpful (1)

    "Worst working environment in my career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Great benefits
    Best medical plan I've ever had

    Cons

    Abusive and unqualified management
    Zero growth, only replacing retiring employees
    Ancient processes and technology
    Managers constantly looking for someone to blame
    Expensive parking and cafeteria
    Micromanagement
    Really depressing environment, everyone scared to talk to each other

    Advice to Management

    If you're over 40, the benefits might be worth it. Anyone else should look elsewhere for an environment based on production versus office politics.

  8. "Analyst"

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

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

    Pros

    Great place to work, very good benefits and potential for growth. Number of sources for training and development

    Cons

    Some work can require a lot of documentation


  9. Helpful (4)

    "Horrible."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Law Enforcement Officer in Cleveland, OH
    Former Employee - Law Enforcement Officer in Cleveland, OH
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

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

    Pros

    It's a foot in the door for Police experience, however the accreditation is worthless for either state or federal commissions.

    Cons

    Punitive call off policies. Rolling calender used for sick time. Incompetent, nepotistic management. Corporate policy of passing the buck and circling the wagons. Low pay.

    Advice to Management

    Get rid of LEU management, listen to the data from your climate surveys. Knowledgeable oversight of you LEU.


  10. "Good work/life balance but decision making is slow"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Examiner in Cleveland, OH
    Current Employee - Senior Examiner in Cleveland, OH

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

    Pros

    The company is very dedicated to work/life balance. Flexible schedules are available. I currently work at home most of the time.

    Cons

    Decision making is very slow and onerous. Although it is a good place to work if you are risk adverse, I would not recommend if you are very ambitious and are looking to move through the ranks quickly. Innovation is not rewarded.