State Street

  www.statestreet.com
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State Street Reviews

Updated 17 August 2014
Updated 17 August 2014
1,287 Reviews

2.7
1,287 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
405 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

Employee Reviews

Sort: Popular Rating Date
  1. 1 person found this helpful  

    State Street is Not a Company to Advance Your Career

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

    Pros

    They have flexible work schedules, good benefits that take a while to kick in, and the workload is not bad.

    Cons

    Their pay is low for most jobs, you are stagnated in certain positions, and there are not enough opportunities for career advancement.

    Advice to ManagementAdvice

    The culture at State Street is a top down approach. It would be beneficial if employees had more input.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2.  

    Good starter job out of college

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

    Pros

    The people I work with are nice. Easy to move up the ladder.

    Cons

    The pay is too low

    Advice to ManagementAdvice

    Raise the pay and provide additional training whenever you ask someone to do something they haven't seen before.

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

    Good starter job

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Decent pay for first job

    Cons

    Management was disconnected from their employees

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  5.  

    Good company low salaries

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

    Pros

    The company is supportive of work-life balance and has a lot of opportunity to take advantage of their flex policy. The people you work with are really wonderful, smart and professional.

    Cons

    The pay is low as compared to other companies similar in size and operation. Often businesses work in silos and it is hard to get things done. Senior management doesn't appear to make an effort to retain the best talent.

    Advice to ManagementAdvice

    Promote and retain talent by paying market wages.

    Recommends
    Negative Outlook
    Approves of CEO
  6.  

    Great Company

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

    Pros

    I had previously work in the AIS Real Estate Performance Measurement area and always impressed at how they continued to search and improve ways to service their clients.

    Cons

    Upper management wasn't always forthcoming on how they felt about certain business groups.

    Advice to ManagementAdvice

    I would recommend having a VP level person running a business group as the lower levels of management don't always have the experience level to properly service the clients. That level is to close to the work many times and can lose sight of what their clients are really looking for.

    Recommends
    Positive Outlook
    Approves of CEO
  7. 1 person found this helpful  

    Job..

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

    Pros

    flexible flexible flexible flexible flexible

    Cons

    business lacks discipline business lacks discipline

    Advice to ManagementAdvice

    improve your FT employee quality through better HR

    Doesn't Recommend
    Neutral Outlook
  8.  

    Great!

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    nice people, good programs, networking opportunities, tuition reimbursements

    Cons

    working hours are too long

    Recommends
    Approves of CEO
  9. 2 people found this helpful  

    Good only for a few months...

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

    Pros

    Good eposure to variety of markets and products, nice canteen, some nice and smart people in the company, flexibility, they allow staff to work from home.

    Cons

    Ridiculous hours (expect to work 50 plus on officer level), very often you will be forced to log from home after hours and stay till midnight. Expect also to attend a call at 11pm of your time with a few hours notice and being asked to work during the weekend. Your private life does not matter, even if you have family or you are pregnant. However on occassional basis you will be said "thank you for suspending your life for this project". Very soon you will find out that you have to suspend all your life and work actually 24/7. Permanent employees on senior + level are not paid at all for overtime.
    Experienced people are not appreciated, politics plays a key role in promotions. The one who yells the most is promoted. People are set against each other and encouraged to do so.
    A lot of procedural gaps, rah - rah meetings, a lot of stuff agreed on a word of mouth, after a few weeks noone remembers why it even has been agreed. Everything, because the company has to be felxible.
    Many departments are severely understaffed, management only keeps promising they will hore more people. After a few weeks they will announce the company had a very bad quarterly revenue and will not hire anyone, insted they will expect the whole department to do more work and longer hours.
    A few good employees were treatened by their senior management and left.
    State Street seems to abuse opportunity to hire temp staff - some departments are made n 90% by contractors and contrats are being etended even on a monthly basis. People may realise just a day before their contract has been or not been renewed, if they still have access to the building or not. And vast majority of them is on contract for even 2 years. Whilst the same level of responsibility is put on contractors, they are not being treated as valued and a part of the team - instead they are being kept away from much information.
    Management does not care about the employees, despite they pretend to so. Most of them cannot control themselves and transfer their panic to the team.
    Senior management unapproachable, does not communicate with the staff,

    Advice to ManagementAdvice

    Remember who does all good job for you, treat people as humans.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  10. 1 person found this helpful  

    Good place to start, bad place to end.

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

    Pros

    Good benefits: Flex time/work from home, tuition reimbursement, vacation purchase program. If working with the right people, ability to learn and seek career advice.

    Cons

    This is probably one of the most disorganized, inconsistent, inefficient companies I've worked for. No one seems to be on the same page from corporate to management to associate. Every team is a silo, and under its own governance. In the same department there are teams that work standard hours and others that are overwhelmed. Middle management seems to be poorly trained or qualified for their role and is often more concerned with getting work done (and micro-managing) rather than improving processes, leaving their employees floundering. There is also very little regard for employees and their over all satisfaction at work. It is a good starter job, but over the years your role will most likely change and your environment too, so that it is difficult not the be demoralized by the sub-par work conditions. If you work here, my advice would be get the experience and run.

    Advice to ManagementAdvice

    My advice to upper management would be to educate middle management. There is a disconnect between the ideals of the organization and the reality.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 2 people found this helpful  

    I learned a lot but hated the work

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

    Pros

    Very friendly people for the most part
    Flexible work schedules
    Easy to work way up the chain
    Great location

    Cons

    Very low pay
    Bottom employees easily replaced/ very high turnover
    Operate to serve clients every need no matter how large the task may be
    Full time employees pay for parking which is ridiculous
    Have to coordinate with joint venture in India who often make errors that must be fixed
    Work is very menial

    Advice to ManagementAdvice

    Increase salaries
    Offer more personal growth and leadership opportunities
    Value employees as much as clients

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

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