State Street
2.8 of 5 1,011 reviews
www.statestreet.com Boston, MA 5000+ Employees

State Street Reviews

Updated Apr 14, 2014
All Employees Current Employees Only

2.8 1,011 reviews

                             

52% Approve of the CEO

State Street President and CEO Joseph L Hooley

Joseph L Hooley

(324 ratings)

40% of employees recommend this company to a friend
1,011 Employee Reviews
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Review Highlights

Pros:
  • "Company has good benefits and is looking to improve work/life balance for employees"
    in 96 reviews
  • "The only one I can think of is the ability to work from home"
    in 46 reviews
Cons:
  • "Find the wrong group and you can kiss work/life balance out the window"
    in 30 reviews
  • "so many entry level workers it seems very hard to be recognized and no chance of promotion or raise until 1"
    in 38 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
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  • Comp & Benefits
         
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  • No Opinion of CEO

 

Big Company Normal

Anonymous Employee (Current Employee)

I have been working at State Street full-time

ProsCompany has been around for many years so as an entity very stable. With thousands of employees and a worldwide presence there are opportunities in a variety of areas. Corporate takes a lot of care to share vision with all levels of the firm and to expose different divisions to eachother.

ConsLarge companies tend to move rather slowly. Great deal of corporate policy and procedure.

Yes, I would recommend this company to a friend

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Administrative Assistant

Anonymous Employee (Current Employee)

I have been working at State Street

ProsEveryone is helpful. Can ask anyone a question no matter what their title is and they would help. Team players

ConsNone so far. Everyone is just nice! From the maintenance worker to the top boss everyone is nice

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Tremendous Changes underway. Company evolving. Can old managers lead in this new regime, time will tell. I hope so.

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

I have been working at State Street full-time for more than 10 years

ProsA lot can be said about this company that is good.

Collaboration and Values and creating the future is the order of the day... "Perhaps the decade..." In fact it is a literal minefield of change... but this could be considered a positive thing, and for those who which to success they must embrace it. it can still be a fantastic place to acquire knowledge and skills. (Still...!)

Work-Life Balance is good and perhaps getting better for those where the opportunity fits.. (Flexible work arrangements are possible, and a level of telecommuting can be optimised for certain roles but this is somewhat rare.)

State Street has been known for technology in the past, but lots has been going on and especially for employee, the presences of new technologies has never been more obvious. The double edge sword of newer technology here is that employee are expected or assumed to adapt to it. (Well they better.) IT support is self-service, iLearn training is self-service, even social networks are growing dubbed Collaborate aka SharePoint for work and social networking, you better get clicking. So to get the most out of your career, you "must" become savvy to these technologies.

ConsTransformation is rampant, sometimes it means job changes, sometimes outsourcing, but again the attitude here is key... (Anyone who is not aware of Who Moved My Cheese, better read it...)

There are many different departments and products so it is certainly possible to be locked in areas that are either down-siizng, offshoring, restructuring (transforming) and that can be stressful... Those that do not adapt well may feel can feel marginalised...

Many managers do not take the time that they could to spread their knowledge.
  - Not to their own teams, and certainly not across other teams...
  - so collaboration in name sounds very cool, looking better and flashier at the top levels.
         (not so much at the middle levels. but creating the future is a work in progress.)

IT support has been transitioning for years from a full service approach to a self-service approach..
  Those that do not adapt will suffer...

(But for the people that adapt, IT support is fine, and expertise and documentation is out there for all)
    If IT spend is reduced by millions and millions, employees need to work smarter : Jury is out on this.

Advice to Senior ManagementEmployees are not just looking for a pay check, some want good old fashioned, face-to-face inspiration. The top-down flashiness for management to share their values experiences is good in a way. Strengthening daily manager behaviour is better...

If managers do not possess or exhibit the skills to mentor their staff, we are creating a class system rather than a community... managers in the new State Street need to be given tools to do their job better.

Whether acquiring basic IT support, or job mentoring, or computer based and classroom based training, middle managers have not been trained or given the guidance to steer their staff better. Some will adapt because of their personal style, others will not unless they are told how.

But most outside joiners find our support model a horrific change... probably due to managers not knowing what they should know. (a good model with good tools that is not trained well is perceived by newcomers as a bad model...)

So either weed out managers who do not lead in the new regime, or train / prepare them appropriately to do so... the tools are definitely there but many managers do not care or know...

Staff On-Boarding needs a major re-write... and the HR folks that institute a short welcome session is not appropriate to the task. (Day one should be about sorting out all incidentals from IT set-up to phone set-up to site tour to access to product info to culture and governance to assigning a big brother type mentor... And it should be by design.)

There are so much on-line resources but most people cannot navigate it... so get a job aid in hand on day one... Instil values on day one, as your managers may or may not be doing that.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Good learning for starter job

Anonymous Employee (Former Employee)

I worked at State Street

Prosgood flexibility for personal issues

Conssalary could be better but it is what it is

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State Street

Anonymous Employee (Current Employee)

I have been working at State Street

ProsClient Operations is the way to go

ConsNot enough training and a mindless job
Terrible pay

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- The World is Flat

Vice President (Current Employee)
Dublin, Dublin (Ireland)

I have been working at State Street full-time for more than 10 years

ProsChallenging but rewarding work environment - constantly changing

ConsAt times can be somewhat bureaucratic

Advice to Senior ManagementRetain talent and develop strong leaders

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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1 person found this helpful  

good company to start after college, but long term opportunities limited.

Business Analyst (Current Employee)
Quincy, MA (US)

I have been working at State Street full-time for more than 10 years

Prosgood location and flexible work arrangments a pro

Conseasy to get stuck in a department that doesnt promote.

Advice to Senior Managementencourage more personal groth and reward for hard work.

No, I would not recommend this company to a friend

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State Street

Anonymous Employee (Current Employee)

I have been working at State Street full-time

ProsThe people and employee benefits are the best reason to work for SS. The work is challenging and although routine, very different day to day in terms of the things that come up.

ConsPolitics is an issue and thus is the case for most companies. Getting ahead quickly is about who you know.

Advice to Senior ManagementReward the people doing the job. Say Thank you and acknowledge contributions.

Yes, I would recommend this company to a friend

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Good entry level job

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

I worked at State Street full-time for more than 5 years

ProsGood place to start out of college. You will gain the corporate experience and work young colleagues. There is opportunity for growth depending on your group. Good place for stable work

ConsPoor work and life balance. Salary is low unless you keep climbing the ladder. In most case, you need to go internal interview for promotion. Very busy due to high turn over rate.

No, I would not recommend this company to a friend

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Acquired from Investors Bank and lasted 7 years before lay off

Systems Consultant, Vice President (Former Employee)
Boston, MA (US)

I worked at State Street full-time for more than 5 years

ProsStrong company. Many good people to work with. Growth potential in some business lines. A change agent personality will be a rock star here.

ConsStaff reductions a constant thing since 2008. Challenges with the transition to more outsource partners.

No, I would not recommend this company to a friend

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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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