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Our Benefits

At the Cleveland Fed, we have you in mind.

In addition to a competitive base salary, we offer a comprehensive benefits package, work–life balance benefits, professional development opportunities, and other programs designed to protect your health, enhance your financial security, and contribute to your engagement and overall well-being.

Health and Wellness

When it comes to health and wellness, we know you want choices, and our industry-leading, comprehensive package gives you the power to manage your health and wellness. Three medical plan coverage levels are available to suit your and your family’s specific needs, and prescription, dental, and vision plans provide generous coverage at low cost to you. Same- and opposite-sex spouse, domestic partner, transgender, fertility, and adoption benefits are included—because we support you whatever the composition of your family. Want to stay (or get) fit? Each Cleveland Fed location has healthy food options and either onsite or offsite fitness benefits. And our wellness incentive programs can keep you on track.

Work–Life Balance

We know there’s more to life than work and that personal responsibilities take time and energy. We offer paid time off (PTO)—for doctor’s appointments, household repairs, rest and relaxation, and more—and flexible work schedules to allow you to better balance your work and your life. New parents get six weeks of paid parental leave (take it all at once or spread it out during your first 12 months together). Our childcare and eldercare referral services and back-up care benefits help you through those unexpected circumstances, too. And because service is a big part of our life at the Cleveland Fed, we offer paid volunteer hours through our volunteer program, Fed It Forward.

Financial Security

Our financial benefits are designed to give you the compensation and advice you need today and the security you need tomorrow. In addition to market- and performance-based compensation, you’ll have an employer-sponsored 401k plan and a pension plan, be eligible for bonuses, and have access to pretax savings plans for commuting, healthcare, and childcare. You and your dependents will also be covered by the Fed’s identity theft protection program to give you peace of mind in today’s digital age. Not sure how to plan for your children’s college fund? We’ve got your back there, too—and in planning for other major life events—with financial education and counseling programs offered through Ayco.

Professional Development

No matter your career stage, you can take advantage of opportunities for professional growth and development at the Cleveland Fed. Be challenged by the work you do. Be supported through ongoing coaching. And expand your skills and knowledge through education programs at local civic and academic institutions. We offer early-career development, leadership development for new and seasoned leaders, tuition reimbursement for select degrees and programs, and opportunities to work on cross-functional teams. We also have a peer-to-peer mentorship program.

Additional Perks

Sometimes it’s the little things. Through partnerships with other programs, we provide discounted rates on cell phone service, group legal services, and car rentals; discounted tickets to amusement parks, entertainment venues, and attractions; and discounted technology and products such as software and computers. Two of our locations, Cleveland and Cincinnati, offer the convenience of onsite cafeterias, and all of our locations are located in bustling downtowns.

My Favorite Benefit

"I'm earning my master's degree while working full-time and without taking out any loans. That's why my favorite benefit at the Cleveland Fed is tuition reimbursement." —Val