State Street Reviews

Updated 16 October 2014
Updated 16 October 2014
1,312 Reviews
2.7
1,312 Reviews
Rating Trends

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

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 124 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 60 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 39 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 53 reviews)

More Highlights

240 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Opportunities to learn and get ahead

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

    I worked at State Street full-time

    Pros

    Variety of challenges, excellent systems and commitment to technology investments

    Cons

    comparatively lower salaries than competitors

    Advice to ManagementAdvice

    embrace diversity

    Recommends
    Neutral Outlook
    No opinion of CEO
  2.  

    Associate 2

    • 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 full-time (more than 3 years)

    Pros

    stable, easy tasks, senior management are wll nice, work life balance is good

    Cons

    Not much career advancement, very few promotion opportunities

    Recommends
    Neutral Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    Good, but highly bureaucratic

    • 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 full-time (more than 3 years)

    Pros

    Good work/life balance.
    Competitive base salary and Merit based yearly bonus structure.
    Generous maternity/paternity leave and vacation for higher levels.

    Cons

    Highly bureaucratic and strict adherence to hierarchy.
    Not the place if you are somebody who thinks out of the box and want to do things differently as there are process hurdles.
    Attitude among folks is to get the operational system issues working and get by somehow rather than attacking the core of the issue and devising ways to apply a permanent fix which obviously requires some lateral thinking and more often than not, time pressure to deliver comes in the way.
    Be nice and visible and you will be rewarded well irrespective of the quality of work.

    Recommends
    Positive Outlook
    No opinion of CEO
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  5.  

    Good company, but currently playing in a difficult environment

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    State Street is a global institution with smart professional people and can offer high-impact, challenging job opportunities in some of the most interesting areas of financial services today.

    Cons

    The current industry environment is difficult and not likely to get better for some time, with the sluggish recovery and more intense regulation. As a result, like all other major banks, State Street will continue to have to succeed by cutting costs, making job stability shaky and a high pressure workplace.

    Advice to ManagementAdvice

    Seek to show better support of employees strained by current tough environment and the pressure that comes with it.

  6. 1 person found this helpful  

    Great starting place to work on office personal skills and is easy to stand out.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Fund Accountant, Associate I in Sacramento, CA (US)
    Current Employee - Fund Accountant, Associate I in Sacramento, CA (US)

    I have been working at State Street part-time (less than an year)

    Pros

    Great group of young co-workers and good way to get experience for recent college grads. Great benefits and the management tends to be promoted from within the company which gives makes for an understanding relationship. You can learn a lot about accounts and as long as you have a little bit of soft skills, its easy to make friends and do well. I work with a great team. Great if you get satisfaction from problem solving with numbers.

    Cons

    Compensation seems to be on the small end in the industry. You will work long hours depending on the group that you work for, but my team does push for working from home and flexing your schedule around your personal life in order not to burn out. People tend to only stick around for 1-3 years.

    Advice to ManagementAdvice

    Company does have a lot of turnover. Invest more immediate pay into your entry level if you want to see them stick around and not transfer out. Quit trying to cut costs by moving to smaller office spaces if you aren't going to distribute savings amongst employees.

    Recommends
    Neutral Outlook
    No opinion of CEO
  7.  

    So far my experience has been good, people are friendly and welcoming!

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

    I have been working at State Street full-time (less than an year)

    Pros

    It is a great resume booster and the people seem to be very nice so far.

    Cons

    The pay is very low for someone living in the city or communting to it.

    Advice to ManagementAdvice

    Be more accomodating to personal finances.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Intern

    • 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 (less than an year)

    Pros

    Great Work environment... I was on a wonderful floor with a great team and the pay was great for an intern.

    Cons

    No defined goals for Intern, Could have gotten more out of us if we had a defined goal.

    Advice to ManagementAdvice

    None

    Recommends
    Approves of CEO
  9.  

    Plenty of opportunity

    • 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)

    I worked at State Street full-time (more than 10 years)

    Pros

    People are great, lots of opportunity to expand knowledge and to advance up/around the organization. Opportunities to work from home or in one of the other offices located in the area when needed. Training is available via online courses, webinars, onsite.

    Cons

    Expect to work a lot - nights/weekends. Senior management disconnected from the front line issues. Organization too large and bureaucratic to adapt to changes or effectively address issues.

    Advice to ManagementAdvice

    Focus on creating a vision of where the organization is going and effectively communicate it at all levels so that everyone knows and buys into the process. Find a way to infuse energy into the company and excitement about what you are doing and where you are going.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Work hard and be prepared for change

    • 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

    Smart people, great technology, changes are constant

    Cons

    Changes are constant can be difficult to adjust

    Approves of CEO
  11.  

    NICE Experience

    • Culture & Values
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    Culture, Lifework Balance..
    Smart People.
    Nice colleagues..
    Nice working environment

    Cons

    Job Security.
    Most of the work is Product support which is not suitable for developers with brilliant thoughts...

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