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Federal Reserve Board Overview

Washington, DC (US)
1001 to 5000 employees
1913
Government
Federal Agencies
Unknown / Non-Applicable
FDIC, Office of the Comptroller of the Currency, SEC
The Federal Reserve's duties fall into four general areas:
• conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and ... Read more

Mission: The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system.

Federal Reserve Board Reviews

3.9
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Janet L. Yellen
85 Ratings
  • "Good Job for Recent College Grad"

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

    Pros

    -Tuition reimbursement program will pay tuition for college classes taken at nearby universities (usually GWU). While permission from your section has to be granted first, it is usually ok to take classes during the work day.

    -Potential to get involved with research papers written by economists. if you really impress the people you are working with, you might be able to take on a fairly substantial role in the research (such as co-authoring a paper).

    -Occasionally you will get the opportunity to work on something that gets substantial exposure to important people and/or the greater public.

    -It is a unique and special experience to work at such an important institution. Occasionally you will see "famous" people walking around or in the same elevator as you. Good name recognition, stands out on a resume.

    -There are at least 100 research assistants at the FRB, so there is a large group of other co-workers in their early to mid 20s.

    Cons

    -Most of the software tools used at the FRB (such as SAS, Stata, and ESPECIALLY FAME) are not widely used in similar private sector positions (Quantitative Analyst / Data Scientist). This can make it somewhat difficult to transition the skills learned at the FRB to these new roles.

    -Some of the Economists are rather mean/unpleasant (or at least not welcoming) to the Research Assistants.

See All 219 Reviews

Federal Reserve Board Photos

Federal Reserve Board photo of: Janet L. Yellen smiles after being sworn in as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014.
Federal Reserve Board photo of: Chairman Ben S. Bernanke receives a standing ovation at the Board meeting in Washington, D.C. on January 27, 2014.
Federal Reserve Board photo of: Left to Right: Janet L. Yellen; Alan Greenspan; Ben S. Bernanke; Paul A. Volcker
Federal Reserve Board photo of: Chairmen Of Federal Reserve Districts Photo credit: Harris & Ewing
Federal Reserve Board photo of: Former Chairman Alan Greenspan highlights events during his terms as Chairman
Federal Reserve Board photo of: The Marriner S. Eccles Building, completed in 1937 and dedicated to former Chairman Eccles in 1982.
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Federal Reserve Board Interviews

Experience

Experience
81%
13%
6%

Getting an Interview

Getting an Interview
69%
12%
10%
4
3
1
1

Difficulty

2.5
Average

Difficulty

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Average
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  1.  

    Research Assistant Interview

    Anonymous Employee
    Accepted Offer
    Positive Experience
    Easy Interview

    Application

    I applied online. The process took 3+ months. I interviewed at Federal Reserve Board in September 2013.

    Interview

    I applied online. I sent all the documents required to the email address provided.

    I heard back a month later with a date and time for the interview. Since I was abroad they were flexible about organizing a phone interview. It started with HR talking to me about the benefits, salary, etc. It seemed they had made up my mind before they interviewed me.

    The interview was more like a conversation, and was very informal. I interviewed with two sections, and had to rank them after it was over. People were friendly, open and answered all my questions.

    Interview Questions

    • The questions were very conversational. I always struggle with answering the question about where i see myself in X number of years. So maybe that's something you should think through before interviewing.   Answer Question

    Negotiation

    No negotiation. They offer all RAs the same salary.

See All 74 Interviews

Federal Reserve Board Awards & Accolades

  • Work-Life Seal of Distinction, Alliance for Work-Life Progress (AWLP), 2014
  • Work-Life Seal of Distinction, WorldatWork, 2015

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