Pros
Benefits/Environment: As many other reviews have outlined, the FDIC has unbeatable benefits and work/life balance, and management truly fosters this mentality/environment. For example, managers/supervisors will work with you as best they can to accommodate you during a hardship, life event, or other personal issues. Furthermore, management rewards those who work hard and have a positive attitude, building a more open work environment. NYC FO: The benefits of working in NYC for the FDIC are numerous. For one, the NYC office is attached to the Regional Office, which gives you greater understanding of the corporation as a whole and lends to more opportunities for growth and promotion. As a major financial hub, NYC is home to diverse financial institutions, including foreign banks and large banks, that fall under FDIC purview. Additionally, the NYC office has successfully attracted talented and motivated individuals, and it is a pleasure when you get to work with these people. On-the-Job: The growth and experience you have in your first four years as a Financial Institution Specialist (FIS) are incomparable to any other first job. Practically from day one, you have a voice among examiners and bankers with over 20 to 30 years of experience. The work itself is also interesting and varied – you tackle different areas of banking at all different institutions, so the work is rarely monotonous. Internship Program: The FMS internship is a great feeder program into the FDIC FIS position. The internship has been able to capture talent and compete with other company internship/feeder programs (in the private sector). I highly recommend the FMS internship as a junior in college. Travel: Heavy travel is true in all offices with the slight exception of New York City. The NYC office will require you to travel a fair amount for stints; however, a large concentration of examined banks are in the city. Therefore, the NYC office requires less travel than other field offices across the country. A perk of FDIC travel is that you very minimally travel on your own time – you will generally travel during work hours (with the occasional exception). I.e. you schedule your travel to allow you to be home at 5pm or 6pm, whenever your normal (non-travel) work day would end.
Cons
Travel: Regardless of the office (NYC included), the travel is significant the first year as a Financial Institution Specialist (FIS) due to the rotational aspect of the job. Before you choose a division full-time (generally, Compliance or Risk Management), the corporation has you work in each division for periods of 2-6 months. These rotational periods may or may not be in your assigned, permanent city. Salary: While the base salary may not look as high as other companies, you need to factor in the value of FDIC benefits (401(K), vacation time, daily hours, etc.) to estimate the true monetary benefits.