State Street Reviews

Updated 8 September 2014
Updated 8 September 2014
1,277 Reviews
2.7
1,277 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
401 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

170 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1. 2 people found this helpful  

    Worst company in financial services

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

    I have been working at State Street full-time for more than a year

    Pros

    CBD location
    Not too bad company for someone who can't find job somewhere else

    Cons

    Very low pay
    Lack of support from management
    High bureaucracy.
    High office politics and the worst office culture I have ever seen
    Most people are settled and have no ambition
    Young ambitious talents are all looking for another job because they are not appreciated.
    Factory like working environment
    Stressful but very boring jobs
    Allowance is a joke
    Exploit interns with no intention to keep them.

    Advice to ManagementAdvice

    please show appreciation for analysts who actually work hard to run the company.
    Review the salary at least to match the competitors' average to keep your talents

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2.  

    Financial Reporting

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Specialist  in  Sydney
    Former Employee - Financial Specialist in Sydney

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

    Pros

    The initial learning was intense and interesting.
    Had a great team at that time who worked well and supported each other.

    Cons

    Long hours
    Low base pay
    Reward programs was a joke
    Lack of appreciation shown by management.

    Advice to ManagementAdvice

    Treat your staff better and show more appreciation, especially when they go above and beyond their job description.
    Provide more transparency in regards to the rewards program and provide feedback on how and why that particular grading was given and this relates to the rewards.

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

    The worst company to work for

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

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

    Pros

    training is good
    city location
    good start stepping stone

    Cons

    they treat you like a number
    very bad culture
    pay is very low

    Advice to ManagementAdvice

    treat your employees well

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

    Poor compensation, hierarchical, low morale, high turnover of staff

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

    I worked at State Street

    Pros

    Not a bad stepping stone into the world of finance if you have no prior experience. Globally recognised employer / organisation. Possibility of getting broad exposure.

    Cons

    Some depts can work long hours with low pay. Low morale among staff and hence a high turnover. Disgruntled staff feel under appreciated. Beurocratic environment. Unwillingness among departments to take on responsibility and work together can be frustrating. Apathetic middle management.

    Advice to ManagementAdvice

    Improve pay. Encourage communication among departments. Incentivise and motivate staff. Realise that people are key to an organisation. Cross train.

    Doesn't Recommend
    Disapproves of CEO
  6.  

    Lousy Place to Work

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

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

    Pros

    Nothing really stands out in my mind

    Cons

    Whole departments being shipped to India, incompetent managers, low salaries, high stress factor, lots of people creating unnecessary work, corporate politics, low employee morale

    Advice to ManagementAdvice

    Resign your positions immediately, especially Mike Bell (worst CFO in terms of morale I have ever heard of). Look for ways to satisfy your employees, as opposed to destroying morale via off-shoring positions to India. Don't introduce initiatives such as "The Way Ahead" and then sell it as "It's not just about cutting costs, it's about re-thinking how you do things". Everyone knows "The Way Ahead" is about cutting costs, and doing more with less.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    Financial Reporting

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

    I worked at State Street as an intern

    Pros

    -High hourly pay
    -Pays overtime
    -Good people to work with

    Cons

    -Terrible work culture
    -Terrible management
    -Terrible work and life balance

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

    sweat shop

    • 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

    Pros

    job experience is ok
    help to develop skills
    benefits
    location
    size

    Cons

    no work life balance
    had to move up
    operations is like a sweat shop

  9. 6 people found this helpful  

    It's not a good stepping stone to anything, and here is why....

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

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

    Pros

    A paycheck, which is directly deposited into your bank account

    Cons

    - This company is the wild west
     - Even if you do your job perfectly, no guarantee on how long you will be getting that paycheck
     - People are running everywhere, and those running are not working
     - Picture this - hundreds of VP's on the org chart (if not more), with the power to hire whomever they want, which includes friends and family that may or may not be working their entire 40 hours per week. Which means, they are paid only to micromanage, entertain and bribe you or to change things that are not broken
     - You will hear and see things you will wish you never had to see or hear
     - HR is a complete joke

    Advice to ManagementAdvice

    Why would anyone bother - they know their clock is ticking

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

    Terrible work environment

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

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

    Pros

    The only pro is having a known company on your resume, but even that has very little weight since it mostly depends on your role

    Cons

    Terrible managers, horrible processes, no work life balance, unprofessional, underpay employees compared to peers. There is no value in their employees, because they believe in overworking you until you leave. The icing on the cake was when I experienced both racist comments and sexual harassment with no secure way of reporting it.

    Advice to ManagementAdvice

    Learn how to manage

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 2 people found this helpful  

    Work here if you want your soul demoralized in every singleway

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Collateral Analyst  in  New York, NY (US)
    Current Employee - Collateral Analyst in New York, NY (US)

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

    Pros

    There is absolutely nothing good about this place. Maybe the free coffee/milk/soda. And dress code is lax.

    Cons

    Senior management is a pain. Company has no goal. Treat employees as minions. No career path. Avoid at all costs.

    Advice to ManagementAdvice

    Care about your employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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