Federal Reserve Board

  www.federalreserve.gov
  www.federalreserve.gov
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Federal Reserve Board Reviews

Updated 11 June, 2014
Updated 11 June, 2014
65 Reviews
4.0
65 Reviews
Rating Trends

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Janet L. Yellen
10 Ratings

Review Highlights

Pros
  • Great learning opportunities; decent work/life balance; excellent compensation and benefits package (in 12 reviews)

  • Opportunity to learn in depth information about monetary policy (in 4 reviews)


Cons
  • Complete disregard for the private sector (in 6 reviews)

  • There is an abundance of red tape (in 3 reviews)

More Highlights

5 Employee Reviews Back to all reviews

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  1. 1 person found this helpful  

    Run, dont walk!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Analyst  in  Richmond, VA (US)
    Former Employee - Financial Analyst in Richmond, VA (US)

    I worked at Federal Reserve Board full-time for more than 10 years

    Pros

    The benefits. Other than that, I have nothing to offer.

    Cons

    When I started at the FRB, it was a wonderful place to work but it has continously gone down hill. The mid level and senior level department managers are not qualified to hold their positions. Perhaps it was unique ot my department but it is a good back to get stabbed in the back. The Fed is so out of touch with the real world.

    Advice to ManagementAdvice

    Take a hard look at your lower level management staff and consider making some changes. They are under qualified for the positions they hold. Set up a genuine grievance committee like the Fed of yester years. Human Resources does not listen and take complaints seriously.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    There are better places to work

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Risk Analyst  in  Washington, DC (US)
    Current Employee - Risk Analyst in Washington, DC (US)

    I have been working at Federal Reserve Board full-time for more than a year

    Pros

    Federal benefits, dental, health insurance

    Cons

    Backstabbing, cutthroat environment. You have been warned.

    Advice to ManagementAdvice

    It is of no use.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 2 people found this helpful  

    Beware

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst  in  Washington, DC (US)
    Current Employee - Financial Analyst in Washington, DC (US)

    I have been working at Federal Reserve Board full-time for more than 3 years

    Pros

    Prestige (for what it's worth), adjacent to National Mall, OK cafeteria, annual leave, insurance (health, dental, vision), raises available (but if you are not one of the 20% "high performers", you will tread water economically with low raises with 70% of the staff at the "commendable" (nice way of saying average) level.)

    Cons

    Performance evaluations (that is, the dreadful so-called PMP) use the forced distribution, or "rank and yank" method. Google it; forewarned is forearmed. A set percentage are given bad reviews, with encouragement to quit. The internal webpage shows no one gets below commendable; do not believe it. The entire performance evaluation system is a true insult to workers who bravely try to meet impossible-to-satisfy expectations. Again, my fellow human beings--beware.

    [To employees (current and future): As low-level managers will be taking notes for the PMP on computer, you must make sure to ask for a copy of any managerial documentation with your name on it. If denied, make note of the denial. Also, take assignments, do well on them, write a success list (for your own eyes only) so that you can update your resume and leave at will. Your heart, soul, and mind will thank you when you leave the building for the last time.]

    Resistance to necessary change. Just because it worked in 1970 does not mean the exact practice must continue in the Internet era.

    Excessive division between PHD and non-PHD staff. PHD staff advances; the rest languish.

    Advice to ManagementAdvice

    Complete transparency (that is, sunshine) should be standard operating procedure. Employees have a right to know if managers are making adverse decisions about their careers behind closed doors with a outside facilitator.

    Forced distribution ultimately will cause systemic failure, requiring congressional attention to fix the mess.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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  5. 1 person found this helpful  

    Incompetent and lazy colleagues + bully managers

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at Federal Reserve Board full-time

    Pros

    If you like not doing real work, you can get by. This one guy in our department shipped 2 lines of code in a whole quarter. 2 LINES! And he didn't get fired.

    Of course, this is really a con if... you know... you like providing value.

    Cons

    Almost every employee at the Board is either lazy or incompetent. Examples of laziness:

    1. Taking a two hour lunch break PLUS 1 hour coffee break consistently every day.
    2. Promising that your work is done, but not being anywhere really close.
    3. Taking months long vacations.

    Examples of incompetence:

    1. Shipping 2 lines of code in a whole quarter!
    2. Managers not really managing, just playing the political game of looking good. My manager would say anything, even say "Oh the project is going soooo well!". Total bs.

    Examples of bullying:

    This one lady we work with shouts at our daily standup EVERY SINGLE DAY. SERIOUSLY?

    Advice to ManagementAdvice

    I have no real advice for you, because you'd never follow it anyway. You're too concerned with looking good, playing nice to your own managers, and waiting for retirement. You need to fire slackers and the incompetents, but you'd never do anything to rock the boat.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6. 5 people found this helpful  

    Soul crushing . . .

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee  in  Washington, DC (US)
    Current Employee - Anonymous Employee in Washington, DC (US)

    I have been working at Federal Reserve Board full-time for more than 5 years

    Pros

    The Federal Reserve Board is quasi-government, which, among other things, means that they don't automatically adopt policies set by Congress or the President. It also has good benefits and amenities (gym, parking by lottery, etc.).

    Cons

    Unless you like posturing (rather than working) to get ahead, lots of bureaucracy, meeting about meetings, and occupying yourself with busy work that's only loosely related to what should be done, this isn't the place to be. The Board is very divided. Duplication of efforts is commonplace where interpersonal issues can't or won't be overcome. The fractures within the organization can make it difficult if not impossible to transfer to other divisions or units. This is a very political environment.

    Advice to ManagementAdvice

    I don't even know where you'd begin.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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