Total Rewards: Our Benefits
Contribute to things that matter, and get all the great benefits that go along with working for the Cleveland Fed.
The Federal Reserve Bank of Cleveland offers a competitive base salary, a comprehensive benefits package, work–life balance benefits, development opportunities, and other programs designed to protect your health, enhance your financial security, and contribute to your engagement and overall well-being.
The Cleveland Fed offers financial benefits designed to give you what you need today and the security you need in the future.
- Market- and performance-based compensation program
- Incentive compensation program
- Defined thrift plan: 6% employer match, 1% automatic employer contribution
- Defined retirement plan with portable cash option
- Cash award and peer-to-peer recognition program
- Tax-free savings: commuter program, flexible spending accounts (healthcare and daycare)
- Financial planning: education and counseling
- Identity theft protection
Your Health and Wellness
The Cleveland Fed offers an industry-leading, comprehensive benefits package that provides choice and flexibility at a great value, giving you the power to manage your health and wellness.
- Medical plan: three coverage levels to suit your and your family’s specific needs
- Prescription plan: local pharmacy and mail order
- Dental and vision plans: great coverage at minimal cost
- Wellness incentives: $300 for wellness activities, $120 premium savings with health-risk assessment
- Healthy cafeteria options
- Onsite fitness center available 24/7 at no cost (Cleveland and Cincinnati locations)
- Offsite fitness center subsidy (Pittsburgh location)
- Onsite fitness classes and personal training at low cost (Cleveland location)
- Domestic partner coverage
- Fertility and adoption assistance
- Gender-affirming surgery and treatment benefits
Your Work–Life Balance
There is more to life than work, and personal responsibilities take time and energy. Paid time off and flexible work schedules allow you to better manage your work–life balance.
- Doctor’s appointments
- Caring for oneself or a sick family member
- Rest and relaxation
- Household repairs
- and more
With PTO, it’s not necessary to categorize how you use your time off. It’s your day, your way. The Cleveland Fed also offers
- Paid volunteer hours through Fed it Forward
- Flexible schedules, compressed schedules, and alternative workweeks dependent on the nature of the work
- Telecommuting available in some departments
- Childcare and eldercare referral services and back-up care benefits
Your Professional Growth and Development
The Cleveland Fed offers opportunities for growth and development at every stage of your career. You will be challenged by the work you do, and you’ll be supported through ongoing coaching and feedback. You can expand your skills, too, through formal educational programs.
- Individual development planning focused on your specific needs
- Generous tuition reimbursement
- Numerous learning opportunities onsite and online
- Partnerships with civic institutions and world class professional development programs such as those offered by Case Western Reserve University
- Early career development
- Leadership development for new and seasoned leaders
- Opportunities to work on cross-functional teams
The little things make all the difference, and Cleveland Fed employees enjoy some great perks.
- Onsite cafeteria with subsidized meals (Cleveland and Cincinnati locations)
- Paid professional memberships
- Discounted rates: auto and home insurance, cellular service, group legal services
- Discounted tickets: local amusement parks, entertainment, and attractions
- Discounted technology: software and computers for personal or home use
- Discounted products and services: warehouse club membership, car rental, message service, automotive maintenance
- Free, onsite parking for off-shift employees (Cleveland and Cincinnati locations)
- Access to the online Fed Store for logoed merchandise