Federal Reserve Board Reviews | Glassdoor

Federal Reserve Board Reviews

Updated November 16, 2017
160 reviews

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3.9
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Janet L. Yellen
76 Ratings

160 Employee Reviews

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Pros
  • great work life balance and networking opportunites (in 26 reviews)

  • Flexible work schedule along with great benefits (in 19 reviews)

Cons
  • Great work/life balance comes at a price (in 3 reviews)

  • Very little opportunity to innovate and ideas are not welcome (in 4 reviews)

More Pros and Cons

  1. "Research division-specific review"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Financial Analyst in Washington, DC
    Current Employee - Financial Analyst in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Flexible hours/work schedule
    Supportive work environment
    Occasional but not overwhelming deadlines
    Individual offices, even for entry level
    Opportunities to challenge yourself and continual learning
    Excellent office culture

    Cons

    Not much room for advancement within research divisions without a Ph.D
    Have to be self-motivated
    Managers are all Ph.D economists, not trained managers
    Difficult for non-Economist staff to move up in career ladder
    Could focus more on diversity of staff


  2. "A gem of an organization"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Analyst in Washington, DC
    Former Employee - Financial Services Analyst in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Federal Reserve Board full-time (More than a year)

    Pros

    The Board is an incredible organization with some truly world-class employees. The organization has a very academic culture, and learning and development are pretty central themes. Benefits are world-class, and because of the Fed's unique structure it can offer things that you normally wouldn't see at a large corporation or typical government agency. Even as a junior employee I was empowered to present at meetings with key stakeholders, attend trainings and briefings that were interesting to me, and become a subject matter expert. I was in an external-facing division, so I got to engage with other Reserve Banks and people in the financial services industry. I truly regret leaving the Board for a "more attractive" city.

    Cons

    It takes a very long time to vet things, which can be frustrating if you're used to how things work in corporate America.

    Advice to Management

    Keep the amazing culture intact and continue to encourage mentorship and development.

  3. "Great Place to Work"

    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 Board full-time

    Pros

    People, benefits, and work/life balance are all great.

    Cons

    The organization is extremely risk adverse

    Advice to Management

    Pay attention to staff engagement


  4. "Research Assistant"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Research Assistant in Washington, DC
    Former Employee - Research Assistant in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Federal Reserve Board full-time (More than 3 years)

    Pros

    Professional environment can be an interesting mix of academic and government
    Generous benefits especially tuition assistance
    Can be a good place to gain experience before graduate school

    Cons

    Little opportunity to advance beyond research assistant


  5. "Senior Economist"

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

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

    Pros

    Flexibility, good salary, good benefits, nice atmosphere

    Cons

    Promotions seem idiosyncratic, decided by the Chiefs without transparent criteria


  6. "Loved it"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Intern in Washington, DC
    Former Employee - Intern in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at Federal Reserve Board (Less than a year)

    Pros

    People are nice and very helpful

    Cons

    None. The company is great and the employees are very friendly.

    Advice to Management

    none


  7. "COO"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Chief Operating Officer in Washington, DC
    Former Employee - Chief Operating Officer in Washington, DC
    Recommends
    No opinion of CEO

    I worked at Federal Reserve Board full-time (More than a year)

    Pros

    Working with brilliant colleagues with a true sense of purpose and national impact

    Cons

    None except slow decision making process

    Advice to Management

    Keep the culture and the talent

  8. "Honestly..overrated"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Services Analyst in Washington, DC
    Former Employee - Financial Services Analyst in Washington, DC
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Federal Reserve Board full-time (More than a year)

    Pros

    Flexible work hours, great location

    Cons

    Ineffective leadership, boring, not very challenging

    Advice to Management

    Make the work more exciting and try to retain hardworking employees


  9. "Fed RA"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends

    I worked at Federal Reserve Board full-time

    Pros

    Interesting work, good hours, decent pay.

    Cons

    None that I can think of.


  10. Helpful (4)

    "Good place to start out a career, terrible place to stay long term."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Information Systems Analyst- Endpoint Computing Services in Washington, DC
    Former Employee - Information Systems Analyst- Endpoint Computing Services in Washington, DC
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at Federal Reserve Board full-time (More than 10 years)

    Pros

    Good benefits, competitive compensation. Among staff, there exists a good, cooperative environment.

    Cons

    The Board is extremely middle management heavy. Middle management and directorships are far removed from day to day operations.

    The Board is notorious for snapping up people just out of school and working them like slaves. Those that are competent and good at what they do move on typically after the 5 year mark (the minimum to get some sort of retirement). There is a continuous revolving door of new hires and people leaving for greener pastures.

    The Board is extremely slow to adopt new technologies.

    Managers, middle, and senior managment are generally apathetic and make decisions based on their own biased agenda. They never take the reccomendation of more technology and technical staff.

    Morale in some parts of the Board is so low that only 25% of staff gave an approval rating on a recent survey of middle and senior Division officials. Even though management knows this, they refuse to effect meaningful change.

    The desktop support area in particular is dysfunctional. In the Board's neverending desire to cut operating costs (they want to preserve funding to over compensate the endless bureaucracy of middle management), this area has become focused on slashing costs at all costs.

    Advice to Management

    Eliminate bloat in middle management in IT, promote more on the basis of technical ability and not for political reasons, and be quicker to adopt new technologies.


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