Federal Reserve Board Reviews | Glassdoor

Federal Reserve Board Reviews

Updated September 22, 2017
154 reviews

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154 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 24 reviews)

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

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

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

More Pros and Cons

  1. Helpful (1)

    "Good place to start a career"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Excellent work-life balance, smart colleagues, good benefits. Great name recognition for a government employer.

    Cons

    Slow work environment, frustrating red tape, limited opportunities for non-PhD economists.


  2. "Administrative"

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

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

    Pros

    Great benefits, good pay structure, and meaningful work.

    Cons

    Bureaucratic to the point that is can be hard to accomplish anything.

    Advice to Management

    Listen to your employees as they have a lot to say.

  3. "Great place to work"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at Federal Reserve Board full-time

    Pros

    Flexible work/life balance, understanding management allows you to combine school, family, other responsibilities with your full-time job. Wonderful benefits

    Cons

    Bureaucratic implications as is a federal agency - changes can be slow or quick depending on scenario


  4. "Review"

    StarStarStarStarStar
    Former Employee - Anonymous Employee in Washington, DC
    Former Employee - Anonymous Employee in Washington, DC

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

    Pros

    good benefits, job security, good management

    Cons

    not busy, not enough work


  5. Helpful (3)

    "Research Assistant"

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

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

    Pros

    If you are planning on going to graduate school for Economics or some sort of quantitative social science, being a Fed RA will seriously improve your application, especially if you are one of the lucky few who coauthors a paper.

    RAs who establish a good reputation often get the chance to implement complex data models.

    Government benefits are amazing.

    Cons

    SO BORING. Virtually all the RAs I know were underemployed and worked 3-5 hours a day. If you prefer to be super productive you will likely find life at the Board stifling and depressing. Plus, the stuffy environment and the fact that IT has access to your web history makes hanging out/surfing the internet a lot less fun than it sounds.

    Even though you will leave with data analysis/visualization experience, it's hard to market yourself to potential employers because a lot of work is done in legacy technologies that companies stopped using years ago (such as FAME, SAS, and GCL).

    Advice to Management

    RAs are treated like sheep (I hear this is especially true for the International Finance division). Most of the time when an RA produces a chart they never know how it was used, so even though I believe that my work had a real impact, it's hard to know exactly what it was. Perhaps RAs don't have the experience to be decision makers, but they should still be kept in the loop. I had a friend whose job was changed completely without any consultation or warning.


  6. Helpful (1)

    "Best place I've worked in DC"

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

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

    Pros

    Fair compensation and bonuses
    Generous vacation time
    Excellent academic assistance program
    Colleagues who care about their work
    Management tries to foster engagement and professional growth

    Cons

    The bureaucracy can be frustrating
    Your contentedness depends largely on your division management/culture
    Tedious and complicated annual review process


  7. "Good Gig"

    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

    9-5 hours a day ususalle hours

    Cons

    Bad Cafeteria to eat at

    Advice to Management

    Good stuff.

  8. Helpful (3)

    "Project Manager"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Project Manager in Chicago, IL
    Current Employee - Project Manager in Chicago, IL
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at Federal Reserve Board (More than 10 years)

    Pros

    Great benefits which balances out the under market pay. Employee Groups planning amazing events for awareness. The cafeteria has great food!

    Cons

    Consensus stifles innovation. Leaders are promoted for their work on projects not on people skills which leads to great employees leaving the Bank.

    Advice to Management

    Need to work on valuing ALL employees.
    Promote individuals because they can lead people not for great technical work.


  9. "Great Experience"

    StarStarStarStarStar
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Approves of CEO

    Pros

    Very nice people who will find time to get to know you and bring you into the group. Overall, very laidback.

    Cons

    The work is very dependent on your group and a lot of learning is on your own. HR is iffy at times.


  10. "Opportunity to see the whole financial system"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Washington, DC
    Former Employee - Anonymous Employee in Washington, DC
    Recommends

    I worked at Federal Reserve Board full-time (More than 5 years)

    Pros

    Work Location in DC
    Great people to work with
    In either bank supervision or policy you get a broader view of the banking system domestically and aborad

    Cons

    Changing dynamics of staff may present challenge for management to use effectively


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