State Street

  www.statestreet.com
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State Street Reviews

Updated Jul 20, 2014
All Employees Current Employees Only

2.7 1,218 reviews

51% Approve of the CEO

State Street President and CEO Joseph (Jay) L. Hooley

Joseph (Jay) L. Hooley

(381 ratings)

40% of employees recommend this company to a friend

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)

160 Employee Reviews Back to all reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    Worst company in financial services

    Account Analyst (Current Employee)

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

    ConsVery 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 Senior Managementplease 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

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Financial Reporting

    Financial Specialist (Former Employee) Sydney

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

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

    Advice to Senior ManagementTreat 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.

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    The worst company to work for

    Analyst (Former Employee) Sydney

    Prostraining is good
    city location
    good start stepping stone

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

    Advice to Senior Managementtreat your employees well

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

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

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

    Anonymous Employee (Former Employee) Sydney

    ProsNot a bad stepping stone into the world of finance if you have no prior experience. Globally recognised employer / organisation. Possibility of getting broad exposure.

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

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    This has to be the company that Hollywood Corporate horror movies are based upon

    Officer (Former Employee) Boston, MA (US)

    ProsA paycheck, a desk, heat and if you're lucky air conditioning in the warmer climates
    ...
    ...
    ...

    ConsEverything
    Your commute in, the work, the people, heck probably the food too. It's all a big bag of...

    And, I am not disgruntled - honestly. I believe it's the nature of the business - to get all juiced up and head into the office...what? office? yes, juiced up for entrance into the office.

    Advice to Senior ManagementFire yourselves, seek counseling and pull back on the drugs

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Sad and Disappointing

    Fund Administrator - Associate II (Former Employee) Kansas City, MO (US)

    ProsNice people in HR and Training groups and co-workers were very nice. Company sponsored activities were fun and made the day to day work life enjoyable.

    ConsMost of my group quit just before I started and it didn't take long to figure out why. The departments are so segmented that it is difficult as a new employee to learn your job. I tried for almost a year and it was getting harder and harder to figure things out. I had so many managers that it was often confusing and they didn't seem to know their job either. State Street offered lots of training classes that would seem very useful while in the classroom, but then I would get back to my department only to be told "we don't do it that way" but then no instruction on how to "do it". There were endless checklists that we were required to sign off, most of which made sense only to the person who created them, and again no way to translate into non corporate lingo. I know I possessed the required intelligence to do my job as after all this is financial reporting and not rocket science but they were just unwilling to provide the tools.

    Advice to Senior ManagementBe nice. Provide better training and encourage your employees rather than threaten them. We are all supposed to be on the same team.

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

    2 people found this helpful  

    One of the worst companies out there...

    Fund Accountant, Financial Reporting (Former Employee) Boston, MA (US)

    ProsGood place to learn as an entry level associate if you want to... and its also a business casual culture.

    Consno work/life balance, bad bonuses, terrible salary, long hours at work, factory type of work, bad management and the list goes on

    Advice to Senior Managementpay well, maintain a good work/life balance for your employees, too much work!!! and omg the bonuses been paid to your staffs that does the REAL work is horrendous (shame on you guys)

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    Do not take a job with them

    Financial Analyst (Current Employee) London, England (UK)

    ProsGood work life balance.
    Good training.

    ConsThe salary is crap and when you get promoted you are told that we cannot give you anymore as we just don't have the money but please take on the extra responsibility and extra hours for nothing because you should just love to work for us !!
    There isn't much in terms of progression.

    Advice to Senior ManagementBring the salary to market level. The reason why everyone is leaving. Then you just end up paying for recruitment costs and having to pay the new person the market rate and then have the learning curve which you could've avoided if you just paid the current employee the right wages.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Worst Company I have ever worked for disgusting culture.

    Officer (Former Employee) Dublin, Dublin (Ireland)

    ProsGood restaurant and employees (below management level) generally sound. Another pro is can get promoted if the type of idiot who enjoys working all night. Although treated like slaves don't beat employees although they might like to - to work you harder.

    ConsLong hours - on my team average 60+ with a lot of all nighters - break Working Time Act all the time. Also break Health and Safety on pregnant workers. Constant monitoring by managers, work the living hell out of you, no training, crap coffee, money poor (avoid funds if starting out). Ignore company literature - no respect for employees, all goals about money and only care about money and send regular emails saying cannot do anything that costs the company money.

    Advice to Senior ManagementI expect someday your company will get the reputation it deserves for abusing employees and will be investigated by the media for breaking the Working Time Act. Stop breaking employee laws and learn to respect people

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Worst company to grow within, less paid ever

    Anonymous Employee (Former Employee)

    ProsGood benefits and thats about it

    ConsTo many things to mention that are categorized as cons. Salary is so low, intern start at 15$ which is very good but once you are full time you start with the same amount which is disappointing. T move up is very hard. There is not rules that will make you move up. Its to much politics a lot of politics, horrible environment. There are ppl who have been for 2 year and become manager and there are ppl who have been for 5 years and they still associate level, the reason is the politics. There is nor rules or tests to be given in order to promote the most qualified ones, its so disappointing,

    Advice to Senior ManagementStart paying more and stop running the company with interns, you think by hiring interns is cost effective cuz u saving on benefits but it will hurt the regular employee and they will move out so try to care more for your own emplyees.

    No, I would not recommend this company to a friend

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