Federal Reserve System overview

The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises.
The staff at Federal Reserve System come from unusually diverse demographic backgrounds. The organization is 37.9% female and 46.8% ethnic minorities. Despite its diversity in other areas, Federal Reserve System employees are noticeably lacking in political diversity. It has an unusually high proportion of employees who are members of the Democratic Party, at 84.1%. Employees seem to enjoy working in an otherwise diverse workplace that is dominated by members of the Democratic Party. Federal Reserve System has great employee retention with staff members usually staying with the organization for 3.9 years. The average employee at Federal Reserve System makes $108,866 per year, which is competitive for its industry and location. Some of its highest paying competitors, Commerzbank, MBIA, and Federal National Mortgage Assoc, pay $114,792, $114,386, and $93,489, respectively.
Based in Washington, District of Columbia, Federal Reserve System is a key player in the finance industry with 2,260 employees and an annual revenue of $750.0M.

The Organization’s Mission

The mission of the Board is to foster the stability, integrity, and efficiency of the nation's monetary, financial, and payment systems so as to promote optimal macroeconomic performance.

Industry

Bank

Revenue

$750.0M

Employees

2,260

Founded in

1913

Headquarters

Washington, DC

Website

federalreserve.gov

Organization Type

Government

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The team at Federal Reserve System

Key People
  • Jerome Powell (chairperson)
  • United Congress (founder)

Federal Reserve System Reviews

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3.0

Zippia UserFebruary 2019

3.0

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Free Gym and pop corn Friday. Show More
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Federal Reserve System Rankings

Federal Reserve System is ranked #22 on the Best Companies to Work For in District of Columbia list. Zippia's Best Places to Work lists provide unbiased, data-based evaluations of companies. Rankings are based on government and proprietary data on salaries, company financial health, and employee diversity.

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Federal Reserve System Salaries

How much does Federal Reserve System pay?
The national average salary for a Federal Reserve System employee in the United States is $108,866 per year. Employees in the top 10 percent can make over $210,000 per year, while employees at the bottom 10 percent earn less than $56,000 per year.
9.4
Salary Score
Average Employee Earnings

Federal Reserve System Salaries By Job Title

While the average employee salary at Federal Reserve System is $108,866, there is a big variation in pay depending on the role. Some of the job titles with high salaries at Federal Reserve System are Economist, Information Technology Manager, Bank Examiner, and Operating System Programmer. A typical Economist salary at Federal Reserve System is $187,772. Some of the other roles at Federal Reserve System are Customer Service Representative and Vault Teller. A worker with the title Customer Service Representative at Federal Reserve System earns an average salary of $31,077 per year.

Federal Reserve System careers

On average, employees at Federal Reserve System stay with the company for 3.9 years. Employees most commonly join Federal Reserve System after leaving Capital One. When they leave Federal Reserve System, they most frequently get their next job at Capital One.

Average Length of Employment

Federal Reserve System

3.9 years
Top Employers Before Federal Reserve System
IBM7.8 %
US Army6.4 %
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Top Employers After Federal Reserve System
IBM7.3 %
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Federal Reserve System Financial Performance

9.1
Performance Score
We calculated the performance score of companies by measuring multiple factors, including revenue, longevity, and stock market performance.

Revenue

$100M - $1B

Founded in

1913

Organization type

Government

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Federal Reserve System Competitors

Some of the competitors of Federal Reserve System are Commerzbank, MBIA, and Federal National Mortgage Assoc. The average salaries at Commerzbank rank the highest, with their employees earning an average salary of $114,792 per year. The salaries at MBIA average $114,386 per year, and the salaries at Federal National Mortgage Assoc come in at $93,489 per year.

Frequently Asked Questions about Federal Reserve System

When was Federal Reserve System founded?

Federal Reserve System was founded in 1913.

How many Employees does Federal Reserve System have?

Federal Reserve System has 2,260 employees.

How much money does Federal Reserve System make?

Federal Reserve System generates $750.0M in revenue.

What industry is Federal Reserve System in?

Federal Reserve System is in the bank industry.

What is Federal Reserve System's mission?

Federal Reserve System's mission statement is "The mission of the Board is to foster the stability, integrity, and efficiency of the nation's monetary, financial, and payment systems so as to promote optimal macroeconomic performance."

What type of company is Federal Reserve System?

Federal Reserve System is a government company.

Who are Federal Reserve System's competitors?

Federal Reserve System competitors include Federal Reserve Bank of San Francisco, Federal Reserve Bank of New York, Federal Reserve Bank of Kansas City, U.S. Securities and Exchange Commission, Federal Reserve Bank of Atlanta, Federal Deposit Insurance, Federal Reserve Bank of Boston, Federal Reserve Bank of Philadelphia, International Monetary Fund, Federal National Mortgage Assoc, The Standard, PFC, MBIA, Commerzbank, Depository Trust & Clearing, World Bank, Daiwa Capital Markets America Holdings, Global Trading Network, CoreLogic, Central Bank.

Who works at Federal Reserve System?

Jerome Powell (chairperson)

United Congress (founder)

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You can find out what it is like to work at Federal Reserve System, also known as BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYS, Board of Governors of the Federal Reserve System, Federal Reserve and Federal Reserve System.

Zippia gives an in-depth look into the details of Federal Reserve System, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Federal Reserve System. The employee data is based on information from people who have self-reported their past or current employments at Federal Reserve System. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions, or for the results obtained from the use of this information. The data presented on this page does not represent the view of Federal Reserve System and its employees or that of Zippia.