Federal Reserve Bank of Cleveland Reviews | Glassdoor
Federal Reserve Bank of Cleveland Reviews
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    Federal Reserve Bank of Cleveland Reviews

    Updated June 13, 2018
    51 reviews

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    Full-timePart-time
    3.5
    StarStarStarStarStar
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    Approve of CEO
    Federal Reserve Bank of Cleveland President/CEO Loretta J. Mester
    Loretta J. Mester
    15 Ratings

    51 Employee Reviews

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    Pros

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

    • "Very good internship program, lots of professional development opportunities and great networking" (in 4 reviews)

    Cons

    • "Decision making is slow and there are no central authorities to coordinate between different groups" (in 4 reviews)

    More Pros and Cons

    1. Helpful (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. "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.

      3. Join the Federal Reserve Bank of Cleveland team
      See Our Latest Jobs

    3. "Office Politics"

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

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

      Pros

      Benefits
      Good middle management
      Good team environment

      Cons

      Office Politics
      Sr management does not have a clue
      Travel

      Advice to Management

      Every organization has office politics, however; FRB Cleveland is on another level. You better nod your head and keep your mouth closed.

    4. Helpful (1)

      "Manager"

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

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

      Pros

      Excellent amenities, benefits and work environment. Great employee development opportunities.

      Cons

      Decision making is sometimes slow because of low risk tolerance in the work.

      Advice to Management

      Continue to focus on employee engagement and developent

    5. Helpful (1)

      "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.

    6. Helpful (1)

      "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.

    7. Helpful (2)

      "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

    8. Helpful (4)

      "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.

    9. Helpful (2)

      "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.

    10. Helpful (1)

      "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.

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