Federal Reserve Board Reviews | Glassdoor

Federal Reserve Board Reviews

Updated April 5, 2017
143 reviews

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Full-time Part-time

4.2
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Janet L. Yellen
65 Ratings

143 Employee Reviews

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Pros
  • Work-life balance is great, everyone goes home after 8 hours unless there is an urgent problem present (in 22 reviews)

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

Cons
  • In terms of IT you may not get as valuable experience here as you might in the private sector (in 8 reviews)

  • Slow work environment, frustrating red tape, limited opportunities for non-PhD economists (in 4 reviews)

More Pros and Cons

  1. "Great Job for recent Graduates"

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

    Pros

    This Is a great job for intelligent, curious and technically minded graduates. In particular, if you have an interest in economics or finance, there is no better place to receive the technical training that will allow you to begin your career. It is also a great place to segue into a Phd program, particularly if you are interested in pursuing a PhD in economics.

    Cons

    The only con associated with this position is the fact that you will eventually have to leave the Board. In order to progress within the system you really need to have a Phd.

    Advice to Management

    I had an excellent experience with management. They look out for your best interests and are certainly interested in the future of their young employees


  2. Helpful (1)

    "Great first job out of college"

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

    Pros

    Really friendly work environment. Research assistants are involved in research across the board.

    Cons

    Degree-tocracy - You need more degrees to advance. No PhD; no promotion. Not really a con, but very little upward mobility unless you go back to school.

    Advice to Management

    Doing well


  3. Helpful (1)

    "A great place to grow and learn."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Washington, DC
    Current Employee - Anonymous Employee in Washington, DC
    Recommends
    Approves of CEO

    Pros

    The people at the Federal Reserve are brilliant and hardworking. You can take classes here, or even be reimbursed for classes elsewhere.

    Cons

    Sometimes the people here are a little too nerdy. Other than that it is really a great place to work.

    Advice to Management

    I think that management could ask lower level employees more about what they think could be done to improve things in the workplace. In general, more communication would be better.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (1)

    "I found it a rewarding and educational experience."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Washington, DC
    Former Employee - Anonymous Employee in Washington, DC
    Recommends
    Approves of CEO

    Pros

    The job benefits and lifestyle is much better than similar opportunities in the private sector. Educational subsidies and a generous thrift plan.

    Cons

    The pay is not as strong as offers in the private sector. It's a tradeoff between lifestyle and pay.

    Advice to Management

    Keep doing what you guys are doing. There are some great people and hard workers that make the Fed a great place to work.


  6. Helpful (3)

    "Work is pleasant and the people in my unit are extremely helpful and accessible; an effective team."

    Star Star Star Star Star
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Web Analyst in Washington, DC
    Current Employee - Web Analyst in Washington, DC
    Recommends
    Approves of CEO

    Pros

    The job offers excellent benefits, a flexible work schedule, and optional telecommuting options. Job security is also extremely high with this arm of government.

    Cons

    As with any government agency, there are times when things and projects get slowed down by red tape and bureaucracy.

    Advice to Management

    Management should guide some of the younger managers so that they are more effective at their jobs. It seems that the managers that seem to have highly effective units and projects are the older managers who don't seem to be intimidated or worried that they might lose their jobs.


  7. "It's a really good place to start a career."

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

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

    Pros

    The job is not too stressful. You can leave your work behind after you clock out.
    You get to work with people your age as well as top economists.
    You make connections with many different people.

    Cons

    There's a steep learning curve in terms of learning programming and different data sources.


  8. Helpful (2)

    "Current Research Assistant"

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

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

    Pros

    - Relaxed work environment: Easy to leave work at work
    - Access to top Economists and lots of smart people (and some potential co-authors)
    - Prestige: great career starter, especially for those thinking of an econ PhD
    - If you are in your twenties: great network of similarly aged, similarly minded people.
    - Benefits: health, vision, dental, bike parking, in-house gym, beautiful cafeteria
    - You will occasionally find yourself eating lunch within shouting distance of "Big Ben" Bernanke

    Cons

    - Can get boring for the unambitious employee
    - Very little upward mobility within the Fed itself (obvious glass-ceiling for the non-PhD holders)


  9. Helpful (1)

    "Very relaxed work environment"

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

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

    Pros

    Easy transition from college to work environment

    Cons

    Can get a bit boring


  10. Helpful (2)

    "Great learning experience"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Talented colleagues with diverse skill sets, good pay, supportive managers/officers, decent work-life balance, and unlimited access to valuable resources (including tech), imminent move to farragut west offices

    Cons

    lack of over-time pay, mediocre cafeteria, turnover, under-staffing issues, lack of parking and transportation to and from the board


  11. Helpful (2)

    "Can't beat the view"

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

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

    Pros

    No Title 5 to worry about, so sequestration does not affect us. Benefits are through the roof (have never seen a retirement package and 401k/thrift plan as generous). Salaries are respectable, but lag other Federal Regulators (FDIC, OCC, CFPB) by 25%. Work-Life balance is excellent and family indeed comes first. Plenty of training and developmental opportunities available, just need to ask. Has been a fair amount of churn in leadership and division officers that "we've always done it this way" is on it's way out the door. The culture is collegial and the only employees referred to by title are the seven Governors; everyone else is first-name basis.

    Cons

    As mentioned, the salaries are lower than other regulators and promotions can be tough as there are few manager and officer spots available due to the flatness of the Board. The pace is excruciatingly slow for anyone coming from private sector and can be enough to drive someone to quit. Almost every decision requires a consensus vote and generating support can take months, if not years. This covers everything from volunteering for a team (you need permission from your boss) to passing out cash awards (consensus votes) to major changes in operational policies (requires so many approvals you ask yourself if it's worth the trouble).

    Advice to Management

    Let your managers and supervisors manage; get them away from day-to-day tasks that staff can do. You tell me I'm budgeted at X% of salary for cash awards, yet no one can tell me how I earn that. And why, oh why, do you sit on this until December? If I hit a homerun in April, what are you waiting for? Also, you are overstaffed. Too many people sitting around waiting for something to do.


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