Federal Reserve Bank of Philadelphia Reviews | Glassdoor

Federal Reserve Bank of Philadelphia Reviews

Updated February 20, 2019
45 reviews

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3.5
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Federal Reserve Bank of Philadelphia President and CEO Patrick T. Harker
Patrick T. Harker
14 Ratings

Employee Reviews

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Pros
  • "Really good benefits, competitive, but not outstanding pay" (in 7 reviews)

  • "Great people, food, location, benefits" (in 3 reviews)

Cons
  • "Poor leadership, no growth, no career development, lack of defined strategic plan, mismanagement of top performers" (in 3 reviews)

  • "The work pace can feel somewhat slow" (in 2 reviews)

More Pros and Cons

  1. "Positive Work Environment"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - N/A in Philadelphia, PA
    Current Employee - N/A in Philadelphia, PA
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Excellent benefits. Senior management appears to be interested in the employee experience and is supportive of employee engagement initiatives.

    Cons

    Mix of tenured and less tenured staff: in transition but moving in the right direction!


  2. "Perfect job on the road to being obsolete"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Messaging Collaboration Architect in Philadelphia, PA
    Current Employee - Messaging Collaboration Architect in Philadelphia, PA
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    Great PTO, minimal stress, decent benefits especially healthcare and 401K. There's also a commuter allowance.

    Cons

    You will be working on technology that's 10 years behind current so your skills are already obsolete outside, a very heavy handed management culture - don't expect management to ever stand up for you or support you. The IT organization is full of people just counting down to retirement - most add zero value.

    Lastly there's really no career opportunities since it's such a small bank. Also employees are monitored constantly via spyware on their phone/PCs.

  3. "Training opportunities"

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    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Philadelphia, PA
    Current Employee - Anonymous Employee in Philadelphia, PA
    Recommends
    Neutral Outlook
    Approves of CEO

    I have been working at Federal Reserve Bank of Philadelphia full-time (More than 8 years)

    Pros

    Training opportunities available to line staff

    Cons

    Limited training opportunities available to management


  4. "Great Place to WORK"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Specialist in Philadelphia, PA
    Former Employee - Specialist in Philadelphia, PA

    I worked at Federal Reserve Bank of Philadelphia full-time (More than a year)

    Pros

    great hours, incredibly nice people, new gym in basement, new cafe opening soon

    Cons

    depressing office layout, cubicles, offset by beautifully designed building


  5. Helpful (1)

    "Great job security, behind the times"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Analyst in Philadelphia, PA
    Current Employee - Analyst in Philadelphia, PA
    Recommends
    Neutral Outlook
    No opinion of CEO

    I have been working at Federal Reserve Bank of Philadelphia full-time (More than 8 years)

    Pros

    Excellent health benefits
    Flexible work arrangements for some
    On site cafeteria

    Cons

    Archaic policies
    Risk averse, slow innovation
    Promotions based on years of service, not aptitude


  6. "Law Clerk"

    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

    Great people, food, location, benefits.

    Cons

    There are none really, everything was amazing.


  7. "Overall"

    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

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

    Pros

    great place to start a career, lots of training opportunity

    Cons

    Career development and advancement are limited due to size of organization

    Advice to Management

    Find a way to retain high performing employees

  8. Helpful (1)

    "Programmer"

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

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

    Pros

    Good benefits. Located near Independence Hall and Old City. There are a lot of street people in that area that constantly harass people for money.

    Cons

    Unstable work environment. No loyalty to employees. They are using antiquated technology and management is not honest with employees about performance evaluations.

    Advice to Management

    Improve communication with employees.


  9. "RAs are agressively under-utilized"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Research Analyst in Philadelphia, PA
    Former Employee - Research Analyst in Philadelphia, PA
    Doesn't Recommend

    I worked at Federal Reserve Bank of Philadelphia full-time

    Pros

    Never work more than 40 hours and easy to meet expectations.
    Opportunity to do your own research

    Cons

    RAs are severely under under-utilized and lots of down time (Netflix anyone?). Culture is disappointing and lacks visions for improvement.


  10. Helpful (1)

    "Life at the Fed"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Benefits, Pay, Work life, and balance.

    Cons

    Very strict, Lack of growth and development.