State Street

  www.statestreet.com
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State Street Reviews

Updated 8 August 2014
Updated 8 August 2014
1,293 Reviews

2.7
1,293 Reviews
Rating Trends

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State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
406 Ratings

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 120 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 55 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 36 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 47 reviews)

More Highlights

187 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    good work profile, not so gd pay master

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Team Lead  in  Mumbai
    Former Employee - Team Lead in Mumbai

    Pros

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

    Cons

    not so good payer, lack of motivation

    Recommends
    Neutral Outlook
    No opinion of CEO
  2. 2 people found this helpful  

    Prior Associate 2 - Do not work here - Save Yourself

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Associate II  in  Kansas City, MO (US)
    Former Employee - Associate II in Kansas City, MO (US)

    Pros

    N/A
    -As my first job, it can only be up from here.

    Cons

    Working at this company was one of the worst experiences of my life.
    -The management has no idea how to manage.
    -I was painfully underpaid.
    -During my 2 weeks notice, I was treated disrespectfully, lied to, and the group did everything to make my life miserable.
    -Do not trust anything that this company has to say; it's all fake.
    -Degrees should not be required for the positions based on the pay and efforts.
    -Please do not make the same mistake that I did, as taking this job, while desperately seeking employment outside of college.
    -Managers did not know how to do my job as an Associate 2.
    -I was banned from taking PTO due to having no back-up.
    -I was limited on my time away from my desk, with 5 minute breaks max - as I couldn't possibly miss 1 call from a client.

    Advice to ManagementAdvice

    Gain integrity. Tell the truth about your current and past employees. Take responsibility when you've made mistakes; don't pin the blame always on others. Ultimately, it can't always be everyone else's fault.

    -Learn how to communicate, manage effectively so that you do not micromanage or discourage employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Worst job I have ever had!!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Fund Accountant  in  Sacramento, CA (US)
    Current Employee - Fund Accountant in Sacramento, CA (US)

    Pros

    The job requires no thought and it is easy to fake you way through the day.

    Cons

    There is no motivation in this job. Promotions, salaries, and bonus are based on time served and very little on actual skills. The salaries are a joke at this company and show no sign of improvement. There is daily emails and postings reminding you of whatever corporate bs management is trying to push. I can't emphasize enough how much working for this company sucks.

    Advice to ManagementAdvice

    KILL YOURSELF!!

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 1 person found this helpful  

    Agile? State Street? – Run! Don’t Walk

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Scrum Master  in  Boston, MA (US)
    Former Employee - Scrum Master in Boston, MA (US)

    Pros

    I was paid. Office was clean. Nice view out the window. Starbucks nearby. Close to the Subway, parking, and the mall. Also it was a very quiet place to do work in the morning - no one around.

    Cons

    Worst Client in 15 years.

    I have helped many clients improve IT development. I put them in three categories:

    1) The best are both aware of, and share, their past challenges. Being aware of their challenges motivates the client’s interest in learning and trying new practices. And a willingness to share opens honest collaboration to gain from a greater set of experiences and ideas.

    2) Apprehensive clients often will not openly admit past challenges. But nonetheless being mindful, these clients understand the need to adopt new practices, albeit with some debate as goals are not shared.

    3) For the most frustrating clients, it is anathema to admit or even discuss past challenges. Individual managers define and proclaim their own unquestionable success. Suggesting or discussing improvements questions this authority.

    Among all the clients I have had, only two extreme examples fall into this last category – the most recent being State Street.

    Despite the advertised position of Scrum Master and a desire "to do Agile", there was no interest to either understand nor enact Agile's values. Tools were not available. There was sniping complaints from other managers about stand-ups and our "disrupting" use of white boards. Immediate management could not relate to teams empowered to lead their own meetings without a "Boss" - to them it seemed chaotic. Work was replete with an adherence to long-held forms, reports, reviews, and internal-governance – All without review of their necessity, utility, or opportunities to improve.

    Upper management was aloof, judgmental, and detached. In addition, there is a perverse pride in the high turn-over of help – to the point where the names of previous “disappointing individuals” were posted on the manager’s office wall.

    I love a challenge and had hoped to help State Street. But, at least, I did in fact learn an important lesson - including that I should have listened to a friend when he said; “Agile? State Street? – Run! Don’t Walk.”

    Advice to ManagementAdvice

    My hopes for you were publicly stated in your company's mission statement:

    "We'll take the time to understand your organization and your needs. As your strategic partner, we will work to develop the best solutions for you - so you can perform better."

    How well can you help your clients "perform better" by understanding their "needs" if you are unwilling to do that for yourself?

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Performance analyst

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Performance Analyst  in  Boston, MA (US)
    Current Employee - Performance Analyst in Boston, MA (US)

    Pros

    Work from home flexibility, vacation policy

    Cons

    Low pay, long hours, no room for growth and advancement. Job is ok if you like to do the same thing over and over day to day. Low bonuses with barely any raises.

    Doesn't Recommend
    Neutral Outlook
  7. 1 person found this helpful  

    This has to be the company that Hollywood Corporate horror movies are based upon

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Officer  in  Boston, MA (US)
    Former Employee - Officer in Boston, MA (US)

    Pros

    A paycheck, a desk, heat and if you're lucky air conditioning in the warmer climates
    ...
    ...
    ...

    Cons

    Everything
    Your commute in, the work, the people, heck probably the food too. It's all a big bag of...

    And, I am not disgruntled - honestly. I believe it's the nature of the business - to get all juiced up and head into the office...what? office? yes, juiced up for entrance into the office.

    Advice to ManagementAdvice

    Fire yourselves, seek counseling and pull back on the drugs

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8.  

    Sad and Disappointing

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Fund Administrator - Associate II  in  Kansas City, MO (US)
    Former Employee - Fund Administrator - Associate II in Kansas City, MO (US)

    Pros

    Nice people in HR and Training groups and co-workers were very nice. Company sponsored activities were fun and made the day to day work life enjoyable.

    Cons

    Most of my group quit just before I started and it didn't take long to figure out why. The departments are so segmented that it is difficult as a new employee to learn your job. I tried for almost a year and it was getting harder and harder to figure things out. I had so many managers that it was often confusing and they didn't seem to know their job either. State Street offered lots of training classes that would seem very useful while in the classroom, but then I would get back to my department only to be told "we don't do it that way" but then no instruction on how to "do it". There were endless checklists that we were required to sign off, most of which made sense only to the person who created them, and again no way to translate into non corporate lingo. I know I possessed the required intelligence to do my job as after all this is financial reporting and not rocket science but they were just unwilling to provide the tools.

    Advice to ManagementAdvice

    Be nice. Provide better training and encourage your employees rather than threaten them. We are all supposed to be on the same team.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  9. 3 people found this helpful  

    One of the worst companies out there...

    Former Employee - Fund Accountant, Financial Reporting  in  Boston, MA (US)
    Former Employee - Fund Accountant, Financial Reporting in Boston, MA (US)

    Pros

    Good place to learn as an entry level associate if you want to... and its also a business casual culture.

    Cons

    no work/life balance, bad bonuses, terrible salary, long hours at work, factory type of work, bad management and the list goes on

    Advice to ManagementAdvice

    pay well, maintain a good work/life balance for your employees, too much work!!! and omg the bonuses been paid to your staffs that does the REAL work is horrendous (shame on you guys)

    Doesn't Recommend
  10. 3 people found this helpful  

    Do not take a job with them

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Analyst  in  London, England (UK)
    Current Employee - Financial Analyst in London, England (UK)

    Pros

    Good work life balance.
    Good training.

    Cons

    The salary is crap and when you get promoted you are told that we cannot give you anymore as we just don't have the money but please take on the extra responsibility and extra hours for nothing because you should just love to work for us !!
    There isn't much in terms of progression.

    Advice to ManagementAdvice

    Bring the salary to market level. The reason why everyone is leaving. Then you just end up paying for recruitment costs and having to pay the new person the market rate and then have the learning curve which you could've avoided if you just paid the current employee the right wages.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11. 1 person found this helpful  

    Worst Company I have ever worked for disgusting culture.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Officer  in  Dublin, Dublin (Ireland)
    Former Employee - Officer in Dublin, Dublin (Ireland)

    Pros

    Good restaurant and employees (below management level) generally sound. Another pro is can get promoted if the type of idiot who enjoys working all night. Although treated like slaves don't beat employees although they might like to - to work you harder.

    Cons

    Long hours - on my team average 60+ with a lot of all nighters - break Working Time Act all the time. Also break Health and Safety on pregnant workers. Constant monitoring by managers, work the living hell out of you, no training, crap coffee, money poor (avoid funds if starting out). Ignore company literature - no respect for employees, all goals about money and only care about money and send regular emails saying cannot do anything that costs the company money.

    Advice to ManagementAdvice

    I expect someday your company will get the reputation it deserves for abusing employees and will be investigated by the media for breaking the Working Time Act. Stop breaking employee laws and learn to respect people

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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