State Street
2.8 of 5 1,018 reviews
www.statestreet.com Boston, MA 5000+ Employees

State Street Reviews

Updated Apr 20, 2014
All Employees Current Employees Only

2.8 1,018 reviews

                             

52% Approve of the CEO

State Street President and CEO Joseph L Hooley

Joseph L Hooley

(328 ratings)

41% of employees recommend this company to a friend
126 Employee Reviews Back to all reviews
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good work profile, not so gd pay master

Team Lead (Former Employee)
Mumbai

I worked at State Street full-time for more than 3 years

Prosa must for new joiners & gives u opportunity to perform & take responsibilities

Consnot so good payer, lack of motivation

Yes, I would recommend this company to a friend

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Intern

Fund Accountant, Associate I (Current Employee)
Quincy, MA (US)

I have been working at State Street as an intern for less than a year

ProsNo pros, good for 18-21 year olds

Conslongs hours, managers yell and scream, they don't want to pay over time, keep changing the over time rules so they don't have to pay no, you barely get to eat lunch or take coffee breaks. they train their friends and who they want to promote. They are outsourcing big time sending everything to Syntel and HCL in India.

Advice to Senior ManagementReviews on here are written by people who work in public relations, they are writing fake good reviews to make up for all the bad ones.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Noone is indispensable

Anonymous Employee (Current Employee)

I have been working at State Street

ProsThe only one I can think of is the ability to work from home

ConsOnly care about stockholders. Do not care about making employees feel valuable. Upper Management is never in the know. Senior Management only care about themselves. The people that do the most work are treated the worst (low men on the totem pole). Layoffs frequently, never sure if you will be next.

Advice to Senior ManagementInstead of taking everthing away from employees, how about giving them something other than the feeling of being afraid of losing their job.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Associate 2 Fund Accountant/ Adminstrator

Associate II (Former Employee)
Boston, MA (US)

I worked at State Street full-time for more than a year

ProsNone, seriously if you have no other job opportunities or just need some money that should be the only reason you work there.

ConsLeadership does not care about you. They just want the job done. You never really understand what you are doing. You have to scrape at a few nice people still there to help you with anything. The whole company is design to do the bare minimum without the clients getting upset. Many of the employees who work there are extremely rude and completely unprofessional. Benefits every year get cut. Your bonus is a joke, if you get one... even if the S&P has risen 30% and business is up.

Advice to Senior ManagementStop screwing over your employees. If you want top talent, leadership, and innovation your going to have to attract it. Empower your employees, make sure they actually understand what they are doing. Cut the fat, and reward the best. Stop cutting benefits.

No, I would not recommend this company to a friend

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AVOID AT ALL COSTS

Anonymous Employee (Current Employee)

I have been working at State Street full-time

ProsWork life balance? I'm really at a loss of words for this place......if you have any ambition whatsoever, do not even considering applying here.

ConsNo growth, low pay, inept managers, ZERO motivation. This is where careers go to die a slow, painful death. Oh, your job will likely be outsourced and you fired - after you train your replacement.

Advice to Senior ManagementStart over.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Different

Embarrassed to Say (Former Employee)
Boston, MA (US)

I worked at State Street full-time for more than 3 years

ProsCan't think of any "pro" per-say, just the normal work related necessities:

paycheck
insurance

ConsI compare STATE STREET to working at a giant yard sale. It's like a flea market, but one in which people and systems are sold. It's not for the faint of heart, and you are guaranteed to hear and see things you have never before. It's truly a company where a lawsuit is waiting to happen on a daily basis. The only place where everyone is smiling (so uncomfortable).

Advice to Senior ManagementNothing, I wouldn't go into the den to see what was going on either. Keep letting them kill each other, new ones are on their way.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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4 people found this helpful  

Taking this job was a horrible mistake.

Accounting/Pricing Specialist (Current Employee)

I have been working at State Street full-time

ProsCasual Friday
Benefits
Work / Life Balance

ConsThere are so many things wrong with State Street.

1. A starting salary of $32,000 is abysmally low. My friend's manager has been with the company for 12ish years and is stuck just above $50,000.

2. The training is a mixed bag. The in class training you receive when you start is actually very well done, and taught by very capable teachers. Unfortunately, it hardly prepares you for the floor. Training on the floor is downright horrendous. You'll be taught one thing, and then five minutes later they'll change their procedures and tell you you're doing it wrong. Furthermore, many of the employees don't have accounting backgrounds so they know how to press the buttons but they can't really tell you what you're doing.

3. Typical corporate douchebaggery.

4. You don't get lunch breaks. You do when you start. Then they go away. Pretty sure that's illegal.

Advice to Senior ManagementI'll be collecting a few more paychecks, and then I'll be on my way. You suck, goodbye.

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Officer

Anonymous Employee (Current Employee)
New York, NY (US)

I have been working at State Street full-time for more than 3 years

Prosflexible work hour, good health care, good for starters.

Consrest of them are poor.

Advice to Senior ManagementThey don't care anyone below Senior-VP.

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Living in the dark ages

Vice President (Former Employee)
London, England (UK)

I worked at State Street full-time for more than 3 years

ProsThey pay you on time!

ConsBlame culture, lack of empowerment, power wrangles between Global HQ and Local management. Senior Management not willing to be challenged, hierarchical,

Advice to Senior ManagementNeed to make some fundamental changes to the culture - all resulting from the type of people who are promoted into senior positions in the company State Street - hardly inspirational, not forward thinking and incredibly parochial.

No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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Overworked, Mindless data entry, paid like yesterdays trash.

Client Service Representative (Current Employee)
Kansas City, MO (US)

I have been working at State Street full-time for less than a year

ProsGood health and dental.
Friendly coworkers.

Cons-Was trained for two weeks on pointless corporate talking points then thrown to the wolves and had the job responsibilities of three people.
-Pay was terrible
-Your job is always several months away from going to India

Advice to Senior ManagementWell your company is making money so obviously outsourcing jobs to India and paying overqualified people to the jobs you haven't outsourced yet is working!

No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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At State Street, we know that smart, skilled, productive employees are essential to our company’s continued success. As a leading provider of financial services, with operations in 27 countries and more than… Full Overview

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