Federal Reserve Bank of Cleveland Reviews | Glassdoor

Federal Reserve Bank of Cleveland Reviews

Updated February 18, 2017
45 reviews

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Full-time Part-time

3.5
Star Star Star Star Star
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Federal Reserve Bank of Cleveland President/CEO Loretta J. Mester
Loretta J. Mester
10 Ratings

45 Employee Reviews

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  1. "Assistant Vice President"

    Star Star Star Star Star
    • 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


  2. "Uncertain future"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Cyber Security Analyst in Cleveland, OH
    Current Employee - Senior Cyber Security Analyst in Cleveland, OH
    Negative Outlook
    No opinion of CEO

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

    Pros

    - The benefits are second-to-none
    - Acceptable pay for the area
    - Good work/life balance
    - Ability to work remotely when needed

    Cons

    - Limited ability to receive current training
    - Lack of innovation and ability to push the status quo
    - Difficult environment when coming in from outside of the Fed
    - Working with other Federal Reserves can create difficult environments (each Fed has its own hierarchy and rules)

    Advice to Management

    - Allow employees to make mistakes and grow internally
    - Create an actual environment that pushes innovation, stop saying no to every idea
    - Increase training opportunities
    - Decrease the administration around daily activities


  3. Helpful (1)

    "Success depends on manager"

    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
    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.


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  5. "Senior leaders need to walk the talk"

    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 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.


  6. "Great place to work and learn"

    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

    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.


  7. "Ok"

    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 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.


  8. "Administrative Assistant"

    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

    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


  9. Helpful (3)

    "FRB Clevleand"

    Star Star Star Star Star
    • 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.


  10. "Great place to work for women"

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

    Pros

    Promotions are based on merit, not on relationships; great culture of collaboration; work is for improving our community and our country; people are respected and listened to; benefits are unbelievably great

    Cons

    Somewhat risk averse due to protection of reputation


  11. Helpful (3)

    "Former 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
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    Medical benefits and retirement plan.

    Cons

    People are promoted on relationships with management other than job performance.



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