State Street Reviews

Former Employee – worked at State Street full-time for more than a year

Pros – Good benefits
Simple job functions, don't need to think much after learning processes
Relatively little job stress
Friendly work environment
Solid resume builder
Will hire people with little work experience
CEO and Senior Vice President conduct quarterly "Town Hall" style meetings where various issues within the company at the corporate and office levels are discussed

Cons – Job is very repetitive
Very low salary for the industry, even up to the Officer level
Relatively easy to get complacent within the company

Advice to Senior Management – I don't blame direct management for low salary. Knowledge is power, management should focus more on explaining what the processes are doing, rather than just simply forcing you to memorize the proper steps.

No, I would not recommend this company to a friend

Current Employee – been working at State Street

Pros – Benefits, Great vacation package and relaxed

Cons – Salary
a little competive, but if you show interest, you will be promoted

Current Employee – been working at State Street full-time for more than a year

Pros – If you want to work lots of overtime just for the money, Nice Views from canteen and good spot when the tall ships arrive

Cons – Too much workload and long hours

Advice to Senior Management – Concentrate on the new hires. The turnover in staff is crazy fro new recruits

No, I would not recommend this company to a friend

Current Employee – been working at State Street full-time for more than a year

Pros – You get financial services experience. Only take an offer if you absolutely cannot get anything else. They pretty much hire anyone who can count these days, and even some that can't.

Cons – AWFUL PAY and extremely high turnover. A college graduate ( some people with masters) shouldn't have to pinch pennies or qualify for food stamps. The pay here forces you to do that. People usually stay for a year and leave to something better.

Advice to Senior Management – Take some advice it's quite simple: quit hiring every person who walks in for an interview and give the current employees more responsibility and more pay.

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

Current Employee – been working at State Street full-time for more than 10 years

Pros – State Street has the right idea on how to run a business and is very successful at what they do

Cons – Some Managers are judgemental and if you don't fit into their circle you don't go anywhere

Advice to Senior Management – Treat people the way you would want to be treated, lose the attitude and come down to earth

Yes, I would recommend this company to a friend

Former Employee – worked at State Street full-time for more than 10 years

Pros – Opportunity for growth
Commitment to work life balance

Cons – Not the bank it used to be that cared about the employees and if you excelled you were rewarded. Too much outsourcing has gone on and valuable people were lost through no fault of their own

Yes, I would recommend this company to a friend

Former Employee – worked at State Street full-time for more than 7 years

Pros – Large institution with strong industry presence

Cons – No cohesiveness amongst the subsidiaries.

Advice to Senior Management – Restore management training programs

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

Current Employee – been working at State Street full-time

Pros – none that I know of

Cons – everything about the place sucks

Advice to Senior Management – Let everyone go already, and refer all of your business to Syntel in India who you are subcontracting to do work for 10 cents on the dollar of lowest paid Americans. Stop leading everyone on, telling everyone that things are going to get better, when they just keep getting worse.

No, I would not recommend this company to a friend

Current Employee – been working at State Street full-time for less than a year

Pros – Low qualifications for hire
Good pension plan
Easy interview process

Cons – Tedious work
Experience is very dependent on the type of manager you have.
Low salary

Advice to Senior Management – Act more as a mentor and benchmark to follow than a manager
Have the same treatment to all levels of employees

No, I would not recommend this company to a friend

Current Employee – been working at State Street full-time for more than 7 years

Pros – Good benefits package. However, this does not out way the cons of working here. Unless you are straight out of college or unemployed I would not recommend.

Cons – The pay is probably the worst part. Entry level positions are paid well below the market average. Work live balance is increasingly becoming very negative with layoffs and not replacing backfill positions. When you do get promoted and work here for several years you become a target for layoffs, this bank is not what it used to be.

Advice to Senior Management – Get a clue. No raises for the majority of your employees and terrible bonuses, along with low pay, and layoffs/not replacing backfill positions is not the atmosphere to retain talented employees.

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