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Inter-American Development Bank

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Inter-American Development Bank reviews

3.9

84% would recommend to a friend

(564 total reviews)

Ilan Goldfajn

78% approve of CEO

74% positive business outlook

Inter-American Development Bank has an employee rating of 3.9 out of 5 stars, based on 564 company reviews on Glassdoor which indicates that most employees have a good working experience there. The Inter-American Development Bank employee rating is in line with the average (within 1 standard deviation) for employers within the Financial Services industry (3.7 stars).

Reviews by job title

564 reviews
2.0
Jan 28, 2018

Officer

Anonymous employee
Recommend
CEO approval
Business Outlook

Pros

-Competitive salary compared to other MDBs -Good work life balance -Great social life due to large young population -Great location in the middle of DC

Cons

-Little room for growth -Performance is measured by loyalty not merit -Significant number of staff are under-qualified and obsolete. Younger staff are overqualified for the work they are doing. Master and Phd level are hired for undergraduate roles. Both younger staff and consultants end up doing all the work. -Limited learning opportunities as well as rotation opportunities within the organization. -Rampant nepotism -Culture based on fear, bureaucracy and mediocrity -Management, in general, lack the skills to be managers -Suboptimal use of human resources. -Prevalent gender differenciation -Staff outsource most of their work to consultants and then take the credit for it.

3.0
Feb 2, 2015
Recommend
CEO approval
Business Outlook

Pros

It was great to work for a donor institution. People always responded to my emails and calls. I contributed to the decisions on how to spend millions of dollars to support valuable organizations in Latin America and the Caribbean reducing poverty. I perfected my Spanish and learned Portuguese in the library. They had unlimited resources in terms of subscriptions, research support, experts on gender, environment, Bolivia, etc. It was also a great work-life balance. The culture is for long lunches, afternoon coffee in the atrium, lots of travel, yoga in the gym, movies and music in the concert hall, and long vacations.

Cons

Very political. They seem to be constantly reorganizing. Seems like there's a lot of dead weight (I once walked by a room where a woman was taking piano lessons...!?) The bureacracy can be really overbearing. 2/3 of employees are consultants, and it seems nearly impossible to become staff as an American. They have quotas on how many people they can hire from each member country and since they are based in DC there are a lot of Americans in the city's international relations grad programs interning there and trying to get in (SAIS, Georgetown). There's lots of competition, they can replace you in a second. US tax laws also make Americans pay 30% of our consulting salary in taxes, so we cost the organization more (or you take the job and are living in a crappy group house while your European colleagues buy condos and go out for fancy dinners every night). No benefits. The "Research Fellow" position is just a crappy way to pay you less with no benefits and no job security, and we all overwork ourselves since we're fresh out of college (and hoping that will mean they will hire us . . . they won't). Try to get a JPA at the World Bank instead if you can. They pay for health insurance, taxes, and even some retirement savings, or so I've been told.

1.0
May 16, 2023
Recommend
CEO approval
Business Outlook

Pros

-The mission of the bank is very attractive if you want to help the region. -Visa sponsor to work in USA. -You are payed on time. -The amenities in the building are being renovated -New colleagues are great! (if they are too great will leave soon for a better opportunity) -2 days of payed leave each month. (This is a CONS for consultants as they need to use this days if they get sick instead of using them as vacations) -Gender neutral parental leave (be aware that staff positions have longer parental leave than consultants) -Staff positions have health insurance with Cigna (which covers medical, dental, vision, preventive care, and prescription drugs)

Cons

General: -High bureaucracy and hierarchical environment -A lot of people have been working there for long time (15 to 20 years), some of them keeping old/obsolete practices and antagonizing the efforts for innovation. -Toxic environment in a lot of areas, colleagues complaining about mental health. Non-healthy competitiveness. -Some colleagues have only worked for the Bank in their lifetime and have not made any efforts to keep learning and are just waiting to get their juicy retirement package. -"Work assignments" are being used to also move employees to areas where they do not have experience due to political issues/ convenience. For Consultants: -Maximum of 3 years in consultant positions (you can't have another contract in your lifetime as consultant) -There are consultants that have responsibilities from a staff level position, yet paid as consultants. -No career opportunities, you will need to apply to staff position as someone external, unless you are well connected (favoritism or nationality preference) -When moving to USA, they don't help you with housing. You only get your tickets and a lump sum for reallocation if your contract is more than 17 months. -No budget / access to learning and development courses. You will only have access to generic seminars (to basic for someone who has experience) -Consultants make the "hard work" and often do not receive credit. -Contract includes $250 allowance to pay your medical insurance, but usually you will need to pay extra as it is expensive in the USA. -Remote consultants that work for Washington offices get paid according to their country (location). -Consultants are treated as contractors of vendors, they come and go all the time. -I would not recommend taking a consultant position if you have family with kids, the benefits are not enough. For Staff: -Mobility and growth is hard, you can spend 10+ years in the same position, only getting more workload. -"Machismo" is still embedded in the culture, promoting more men than women. -You can get "work assignments" doing more work and getting payed the same (for years)

Viewing 7 - 9 of 564 Reviews

Glassdoor has 957 Inter-American Development Bank reviews submitted anonymously by Inter-American Development Bank employees. Read employee reviews and ratings on Glassdoor to decide if Inter-American Development Bank is right for you.