State Street

  www.statestreet.com
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State Street Reviews

Updated 19 August 2014
Updated 19 August 2014
1,291 Reviews

2.7
1,291 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
406 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.  

    exciting for the first few months only

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Former Employee - Fund Accountant, Associate I  in  Sydney
    Former Employee - Fund Accountant, Associate I in Sydney

    Pros

    work environment was not too competitive. employees get along with each other pretty well. the job was not too hard. quite a good start for fresh graduates. for master's students, it was way too low to start in here.

    Cons

    the system used is solely for state street, unlike jp morgan or anz who use the same system. knowledge gained from state street (system wise) are not transferable. promotion opportunities are limited.

    Advice to ManagementAdvice

    not too much delegation on the analysts. managers and client accountants should be aware of what is going on too. clients would not be impressed with managers or client accountants who were not competent to answer their queries.

    Recommends
    Approves of CEO
  2.  

    analyst at state street australia

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

    Pros

    good work and life balance. laid back environment. managers try to avoid overtime by all means, which means employees get to go home on time.

    Cons

    many inexperienced and undedicated colleagues. not much training given in the beginning. learn as you go is the motto. many employees don't take their work seriously.

    Advice to ManagementAdvice

    review the recruitment process. be sure to hire people with flexibility which means having the time to work the extra hours required instead of pressuring the other employees who are reluctantly covering for the unavailability of these undedicated employees.

  3.  

    Cares about employee development

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

    Pros

    State Street as a company encourages growth and development. While working for State Street (in relatviely junior roles) they have taken me from working in London, to the headquarters in Boston and now to Sydney (my original home). I now have a regional role in a field completely different from what I started my career in and this is all down to the development opportunities I have been offered.
    My manager is supportive in terms of flexibile work arrangements and I currently have the option to vary my start and finish times, work from home and compress my work week when neccessary.

    Cons

    As it is a global company, and as I work on global initiatives, there can be days with long hours, especially when dealing with global conference calls. Unfortunately the Asia time zone always seems to come out worst! Mindsets can be very Boston-centric at times with many initiatives having a strong US bias. Turnover can be a bit of a struggle in Asia, having a knock on effect - the worse it gets, the harder it is for other staff members to keep on top of things, leading to more turnover. That said, it does create opportunities for others who want to move upwards.

    Advice to ManagementAdvice

    Spend more time being visual to employees. Let them see you walking the floor every now and then.

    Recommends
    Approves of CEO
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  5. 3 people found this helpful  

    m'eh

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

    Pros

    Good work-life balance, flexible hours, good culture

    Cons

    Poor staffing, laughably low salaries

    Neutral Outlook
    No opinion of CEO
  6.  

    Good experience as an intern

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Great internal access to learn about the company and industry
    people are easy to get along with, no jerks that i worked with
    boston great city to work in

    Cons

    work was sometimes not very challenging
    work is very cyclical, sometimes very bored
    hours are very short relative to industry, pay is not the best

  7.  

    Excellent company with above average benefits.

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

    Pros

    The company is a large global company and offers several different areas to help further your career.

    Cons

    The company has lot some of their focus on their core employees and has overemphasised senior management.

    Advice to ManagementAdvice

    Start focusing more on your employees with regards to benefits.

    Recommends
    Neutral Outlook
    No opinion of CEO
  8.  

    review

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    global footprint, loyalty is high for employees with over 5 years, CEO tries to do the right things

    Cons

    management too hierarchical, some senior management has very archaic views that no longer apply, diminished benefits each year

  9.  

    Very boring and uneventful internship

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Nice coworkers, always were readily available for help whenever it was needed. Managers were great to us and made sure our morale was always up.

    Cons

    Unprepared for the interns and did not have enough work for us to complete.

    Advice to ManagementAdvice

    Understood that not much responsibility can be given to summer interns, but the lack of work was not good.

  10.  

    A good stepping stone to better opportunities

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

    Pros

    If you are looking for a job, apply at State Street. It's a steady salary with relatively easy work. You do not need to be in accounting, finance, business - all majors are encouraged to apply. There are a lot of young workers fresh out of college, so it's a good place to meet new people, too. The employment perks include various activities, games, and having that "corporate" feel , which can be a valuable experience when working in teams. State Street has a good name recognition and its' experience can be valuable to anyone's resume when looking elsewhere. Also, vacation time is on point.

    Cons

    It is a revolving door of turnover. These young people you meet will eventually leave for better opportunities (usually less than 1 year employed), as long as they are motivated to move up in their career. State Street has availability for middle management due to this turnover, but the pay will not be worth the added stress. The pay is absolutely the biggest gripe I've ever heard. For the company to target Accounting, Finance, Business majors - all of us want more out of our job. With the promotions that do happen, there's no real incentive except for a resume boost. I have been involved with several State Street activities, but that's ultimately the reason I left: better opportunities to grow and to earn a better living.

    Advice to ManagementAdvice

    -Target non-business related majors - they can do the job just as easily and are more likely to stay longer term.
    -Screen middle management to make sure they are doing an adequate job.
    -Create a better pay structure that at least gives new hires something to look forward to.
    -Own your parking lots so the employees do not have to pay each month.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11.  

    You won't be pushed

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

    Pros

    Very chilled company comparative to other financial institutions

    Cons

    Too chilled for those that like a fast paced environment and want to learn.

    Doesn't Recommend
    Neutral Outlook

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