State Street Reviews

Updated 29 October 2014
Updated 29 October 2014
1,325 Reviews
2.7
1,325 Reviews
Rating Trends

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

Review Highlights

Pros
  • Good work life balance with potential to work from home or create a flexible schedule (in 128 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 62 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 55 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

    I worked at State Street

    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

    I worked at State Street

    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

    I have been working at State Street

    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.  

    Senior account controller

    Former Employee - Anonymous
    Former Employee - Anonymous

    I worked at State Street

    Pros

    Good work life balance. Friendly people good management. Was there through a co op and they were willing to accommodate my schedule.

    Cons

    Challenging to move up. Political at times. Could use more defined career paths. Silo work groups. Not much opportunity to explore.

    Advice to ManagementAdvice

    More defined career path.

  6.  

    Self motivation required

    • 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

    Flexible work arrangements, competitive vacation policy, great place to start a career

    Cons

    Lack of standardized training, long hours, depending on your industry there is a fair amount of turnover

    Advice to ManagementAdvice

    Organize standard trainings to assist with on boarding new hires

    Recommends
    Positive Outlook
    Approves of CEO
  7.  

    Fine place to start

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Client Operations Administrator in Kansas City, MO (US)
    Former Employee - Client Operations Administrator in Kansas City, MO (US)

    I worked at State Street full-time (more than an year)

    Pros

    Benefits package solid. Job very dependent on what unit/team you're on. If you work hard and try to learn every day, you can move up quickly and stop doing the rote processing required at the entry level.

    Cons

    Compensation not in line with similar positions at other companies. Not a very pervasive company culture.

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

    Not what it used to be

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

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

    Pros

    Good place to get a foot in the door. It's hard now to learn more then one task now because of the center's of excellence. When you join a group you basically learn how to do only one thing. As a fund accountant it used to be you were in charge of accounting and custody. Now you are only in charge of accounting.

    Cons

    Outsourcing of work is the priority right now. From what I understand the whole fund administration department is being outsourced. Compliance, Client Operations, Financial reporting etc. There is no room for growth. Layoffs are happening constantly

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    Fabulous Internship

    • 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

    Absolutely loved it, many opportunities for different professional events, hands-on learning

    Cons

    none! very great management, leadership and maintenance of the many interns

    Advice to ManagementAdvice

    Keep it up!

    Recommends
    Positive Outlook
    No opinion of CEO
  10.  

    Associate 2

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

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

    Pros

    Good workers. The flexibility to work from home when needed is a great incentive.

    Cons

    Low pay!! Company doesn't compensate employees for their commitment and hard work.

    Advice to ManagementAdvice

    Need to award employees for their hard work. They tend to award employees who do not work or care about the work that they do.

    No opinion of CEO
  11.  

    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

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