State Street

www.statestreet.com

State Street Reviews

Updated 21 January 2015
Updated 21 January 2015
1,441 Reviews
2.8
1,441 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
467 Ratings

Review Highlights

Pros
  • Good work life balance with potential to work from home or create a flexible schedule (in 132 reviews)

  • The flex work schedule, most people have an option to work from home twice a week (in 65 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 42 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 57 reviews)

More Highlights

194 Employee Reviews Back to all reviews

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  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

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

    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. 1 person found this helpful  

    Discrimination

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Associate II in Milton, MA (US)
    Current Employee - Associate II in Milton, MA (US)

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

    Pros

    Affordable cafeteria food, if needed. Not enough smart people so you can take advantage of them if needed.

    Cons

    Parking, micromanagers, outdated technology, very clicky among lower level senior associate managers

    Advice to ManagementAdvice

    When its the holiday, make sure all employees get treated the same. Upper level management shared with lower level management a steak luncheon for holidays while others work his/her butt off. After 2 hours they all came back to thier desk happy and laughing. This was the pricing group in quincy massachusetts.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3.  

    Dont waste your time if your looking for a real finance job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

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

    Pros

    -Small steady paycheck (friend with no college education made more money his first year working at FedEx moving boxes)
    - If group allows you can work from home 1 to 2 days a week.
    -They will pay for some of grad school however the majority of other companies do that.

    Cons

    It sums up to this. Statestreet uses very proprietary systems.

    1. -The work you do here is almost unapplicable in the rest of the finance world except for basic use of excel.
    2. -You do not need a finance,business, or even a management degree to work here, in retrospect you dont need any financial knowledge period. If you need proof there were English majors in my old group! . However it doesnt hurt to know some backgound knowledge going in.
    3. -All you need to do is learn how to run programs that do the real work/checks (explains the low salary).
    4. -The work is exactly the same every single day if your in accounting,custody, or client operations.
    5. -The HR department of my current employer told me if anyone spends more than 2-3 years there it would hinder your chances greatly from getting a middle or front office job where real money is made.
    6. High turn over rate and when I mean high dont be surprised when people start applying to other companies during working hours 6-12months into the job.
    7. People getting laid off consistantly.

    Advice to ManagementAdvice

    You have to really play the buddy buddy game to move up here. Unfortunately you see alot of unqualified people in management positions. But my advice to management is this, please care for your employees. Make their inevitably short stay there at least tollerable. Be nice, show appreciation, and actualy listen to their ideas and concerns.

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

    The worst company to work for. Understaffed, under budget, underpaid.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

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

    Pros

    Always hiring... not sure is it's a good thing.

    Cons

    No opportunity for personal growth, company doesn't sponsor professional development or growth, HUGE on bureaucracy and red tape.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    There is very little room for growth

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

    I worked at State Street full-time

    Pros

    People - if you are lucky enough to be placed in a friendly group. Most people come in, work, and then leave with hardly a few words to each other.

    Cons

    Highly discourage recent graduates from applying to State Street unless through PDP program. Not a place where you can find many doors for growth or promotion.
    Terrible, terrible entry-level compensation.
    Senior management does not care about staff shortage until the very last moment, and even then, it takes months to hire new people. I saw many people from my group alone leave because of the work environment.

    Advice to ManagementAdvice

    Listen to your associates. Pay entry-level positions more.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7.  

    unethical

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

    I worked at State Street

    Pros

    gaining experience for your resume

    Cons

    no work-life balance, unethical treatment from management

    Advice to ManagementAdvice

    management should be considered to adhere to lean policy

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 1 person found this helpful  

    Unorganized and incompetently managed.

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

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

    Pros

    They had a cool kickball tournament.

    Cons

    In the Kansas City mutual fund group, not only will you be kept from progressing, but you will take the blame for management's errors if you aren't high up on their ladder or a 'favorite.' The headquarters in Boston are completely clueless as to how things are run in the KC location and if they saw how backwards and incredibly ignorant their management staff was, they'd be wise to shut down the entire operation. Employee turnover was weekly...which is pathetic.

    Advice to ManagementAdvice

    Admit your mistakes, take responsibility for your actions, LISTEN to your employees, and treat people better. It's not like you're paying them an even decent salary, so at the very least let them feel valued.

    Doesn't Recommend
    Negative Outlook
  9. 2 people found this helpful  

    This is a profit based BUSINESS

    • 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)

    I worked at State Street

    Pros

    Paycheck
    Benefits
    Group discounts to merchants and attractions

    Cons

    You are a cog in the wheel of this well oiled machine that has established unnatural relationships around the world built off of the back of recent college graduates.

    You will be confined to a desk for hours at a time. You will be yelled at for having to do natural things such as relieve yourself. You will watch people run around with smiles on their faces. You will be inundated with work by the people who have been authorized to un around.

    The people in leadership positions have been awarded these positions based on relationships. Highly political at all levels.

    This company is the pickle party. Think of all the people you use to cheer, hockey players, football players, etc. When the lights go out, they enter the street - State Street that is. And, the board of directors is well aware of this. Plenty of people who had families working for this company are going to be hell bent when the board relieves them.

    Advice to ManagementAdvice

    What is management? The practice of? If I could pull them out of their daily circle jerks, I still wouldn't say anything. To the board of directors: Good job, hope nobody finds you.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Investment Accountant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Investment Accountant
    Current Employee - Investment Accountant

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

    Pros

    Big company with many international branches.

    Cons

    Below average compensation, Little to no opportunity for growth and development, High employee turn over rate, constant business remodelling.

    Doesn't Recommend
    Neutral Outlook
  11. 2 people found this helpful  

    They look after their shareholders, not their employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    easy to get into the company

    Cons

    They don't even know where my FSA money is. Its been several months since I left and I'm still waiting on a reimbursement since they cannot find my money! work/life balance is awful, pay is probably the lowest in the industry, turnover is very high.

    Advice to ManagementAdvice

    Mgmt either does not read these or does not do anything since the company has such a low score and still nothing changes.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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