Does FHLBank Chicago pay their employees well?

According to anonymously submitted Glassdoor reviews, FHLBank Chicago employees rate their compensation and benefits as 3.5 out of 5. Find out more about salaries and benefits at FHLBank Chicago. This rating has decreased by 7% over the last 12 months.

How satisfied are employees working at FHLBank Chicago?

48% of FHLBank Chicago employees would recommend working there to a friend based on Glassdoor reviews . Employees also rated FHLBank Chicago 3.2 out of 5 for work life balance, 3.2 for culture and values and 2.8 for career opportunities.

What are the top reviewed jobs at FHLBank Chicago?

Analyst (8) , Intern (5) , Manager (5) , Intern - Hourly (3) , Internship (3) , Risk Analyst (3) , Rotational Analyst (3) , AVP-Operations (2) , Associate (2) , Business Analyst (2) , Director (2) , Executive Assistant (2) , IT Engineer (2) , Senior Accountant (2) , Senior Analyst (2)

What are the pros of working at FHLBank Chicago according to real employee reviews?

"Good Benefits and 401K Plan" ((in 33 reviews)); "Great people to work with." ((in 18 reviews)); "Offers good work life balance" ((in 8 reviews)); "Salary is GOOD" ((in 6 reviews)); "Medical, Dental, Vision Pension" ((in 5 reviews))

What are the cons of working at FHLBank Chicago according to real employee reviews?

"Management somewhat detached." ((in 8 reviews)); "aggressive culture where no one wants to own anything and pass" ((in 8 reviews)); "Currently, accomplishments and contributions are only acknowledged if a manager or co" ((in 7 reviews)); "Pay not as high as market rates" ((in 5 reviews)); "senior leadership must wake up now!! management dont seem to care as long as they win diversity awards." ((in 5 reviews))

What are employees saying about FHLBank Chicago layoffs in 2026?

Explore Glassdoor’s employee reviews to understand what current and former employees are saying about FHLBank Chicago layoffs and their outlook for job security at FHLBank Chicago in 2026.

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FHLBank Chicago

FHLBank Chicago reviews

3.2

48% would recommend to a friend

(167 total reviews)

Michael Ericson

48% approve of CEO

57% positive business outlook

Ratings by category

3.5

Compensation and benefits

3.2

Culture & values

3.2

Diversity & inclusion

3.2

Work/Life balance

2.8

Senior management

2.8

Career opportunities

FHLBank Chicago has an employee rating of 3.2 out of 5 stars, based on 167 company reviews on Glassdoor which indicates that most employees have a good working experience there. The FHLBank Chicago employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.6 stars).

Ratings by demographic groups

Race / Ethnicity

Gender

Sexual orientation

Disability

Parent or family caregiver

Veteran status

Reviews by job title

167 reviews

2.0

Aug 16, 2017

Management Failure

It engineer

Recommend

CEO approval

Business Outlook

Pros

A good culture of hard-working individuals, outside of technology. The Bank "does good things" for the communities, no doubt.

Cons

Management in IT is filled with micro-managers unable to let control go of projects. Teams work in "agile/scrum" methodolagies, but all decisions are constantly micro-managed by PO/manager combinations (yes, frequently a team manager will also be the PO). Management also is not capable of conflict resolution. Finally, there is no holistic direction of technology; it's all what is hot and new.

2.0

Oct 26, 2016

Lost Potential

Decline to say

Recommend

CEO approval

Business Outlook

Pros

The companies vision of what it wants to be and what it wants to offer is spot on. It's benefits and work life offering are really good. The company has the potential to be a great place to work if it can remove some major impediments. On paper (de jure) this should be one of the best companies to work for in the city.

Cons

There are some departments with toxic environments, employees that appear to be disingenuous and management that appears to be detached at times. These dealings significantly damage an otherwise promising company with a superb work life balance. Also the HR department is hit or miss much like the management, sometimes very responsive and at other times careless. The company as a whole still seems to have culture identity. The defacto reality of the company is very different and actually very unfavorable compared to it's de jure ambitions and on paper benfits.

5.0

Jul 22, 2016

SVP

Senior vice president

Recommend

CEO approval

Business Outlook

Pros

FHLB Chicago is the leading firm in mortgage finance in Chicago and has extremely low turnover mainly because the pay is banking market level, it has a great pension and the firm does a lot of altruistic work in the community.

Cons

Virtually no one knows what the FHLB Chicago does or how large we are and we are often confused with the Federal Reserve Bank of Chicago

Viewing 19 - 21 of 167 Reviews

Jobs at FHLBank Chicago

Director, Strategic Portfolio Management

Sales & Strategy Analyst