State Street

  www.statestreet.com
  www.statestreet.com

State Street Reviews

Updated 19 November 2014
Updated 19 November 2014
1,352 Reviews
2.7
1,352 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
437 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. 2 people found this helpful  

    Depends what department or manager you have

    • 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 (more than 3 years)

    Pros

    Depending on what manager or department you are in, the experience can be very rewarding. In my 4 years here, I've worked with some really fun, sarcastic, smart and interesting people. Seriously, everyone I've worked with at State Street is so dramatic and sarcastic and I enjoyed it. If you put in the work, if you drink the "kool aid" you'll get promoted.
    Flex time. Work from home, 4 day work week. The company (again depending on department) is very flexible.
    Diversity. State Street loves diversity. If your gay, black, purple, transgender, identify as a turtle, you'll be welcomed with open arms. No one cares, nor should they!
    Its easy to apply to different internal jobs at State Street. If you hate your job, wait a year and post for a new internal position. State Street likes promoting from within.
    The people. You'll meet some great friends.

    Cons

    Pay is so low compared to industry standards. I left State Street for a 40% raise.

    Advice to ManagementAdvice

    Pay industry standards so the young smart people don't leave to your competitors.

    Recommends
    Positive Outlook
    No opinion of CEO
  6. 2 people found this helpful  

    Seen better days

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

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

    Pros

    They once had the biggest and best pool of talented, dedicated IT professionals who went to limits to support the infrastructure and applications. People worked here for decades and knew how to keep things running smoothly.

    Cons

    They continued to cut and cut and cut right into the bone until there was nobody left and the ones left standing got the worst of it. Way too much work, always putting out fires and not addressing the real issues

    Advice to ManagementAdvice

    Bring back the jobs

    Doesn't Recommend
    Disapproves of CEO
  7.  

    Easy Pt. time job for umass students

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Trade Processor Associate I in Hadley, MA (US)
    Current Employee - Trade Processor Associate I in Hadley, MA (US)

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

    Pros

    Gaining experience in financial services

    Cons

    No opportunities for advancement internally
    Micromanagement of productivity

    Advice to ManagementAdvice

    Either get a clue whats going on or get new management. Youre focusing heavily on the wrong things.

    Recommends
    Neutral Outlook
    No opinion of CEO
  8.  

    Mixed

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

    I have been working at State Street full-time (more than 5 years)

    Pros

    The benefits are great and coworkers are wonderful. Hard work will pay off but you need to be patient.

    Cons

    Pay could be better, work life balance is not quite what it could be with little chance that this will change any time soon.

    Advice to ManagementAdvice

    Decreased focus on initial training classes and lack of job rotation narrows the capabilities of junior employees. This may save money in the short term but could have longer term impacts if the added stress on senior employees leads to increased turnover. There is a lot of talent present but if not properly cultivated is just wasted potential.

    Recommends
    Neutral Outlook
    Approves of CEO
  9.  

    intern

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    Relaxed and friendly work environment

    Cons

    Salary could be higher for entry level

  10.  

    Meh...

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at State Street full-time

    Pros

    Job security had historiclly been good

    Cons

    Mgmt has no interest in work/life balance

    Advice to ManagementAdvice

    stop trying to get blood from a stone

  11.  

    Great company atmosphere

    • 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 (less than an year)

    Pros

    Sense of community. Great company morale. Good opportunities for advancement if willing to put in the time.

    Cons

    Not paid near what was deserved.

    Advice to ManagementAdvice

    Starting salaries needs increased.

    Recommends
    Neutral Outlook
    Approves of CEO

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