State Street

www.statestreet.com

State Street Reviews

Updated 25 January 2015
Updated 25 January 2015
1,432 Reviews
2.8
1,432 Reviews
Rating Trends

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

Review Highlights

Pros
  • Good work life balance with potential to work from home or create a flexible schedule (in 132 reviews)

  • The flex work schedule, most people have an option to work from home twice a week (in 65 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 42 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 57 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    boring job with low pay; no career future

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

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

    Pros

    easy job, no stress and good company location

    Cons

    culture is slow and lack of innovation

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  2. 1 person found this helpful  

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

    • 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

    Not a bad stepping stone into the world of finance if you have no prior experience. Globally recognised employer / organisation. Possibility of getting broad exposure.

    Cons

    Some 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 ManagementAdvice

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

    Doesn't Recommend
    Disapproves of CEO
  3.  

    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
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  5.  

    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.

  6.  

    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
  7.  

    A great internship experience for a college student.

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

    I worked at State Street as an intern (less than an year)

    Pros

    Engaging environment that promoted learning and growth. Interns were given the same responsibility that other associates and analysts were given.

    Cons

    The work often became routine, so much so that it could get boring. Always good to keep asking for new work or trying different business groups.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Good experience and relaxed environment.

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

    I have been working at State Street as an intern (more than an year)

    Pros

    Good part time pay and understanding coworkers.

    Cons

    Not best pay in field.

    Advice to ManagementAdvice

    Keep talent inside the company with higher wages.

    Recommends
    Positive Outlook
    No opinion of CEO
  9.  

    Good place. Mgt not caring

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

    I worked at State Street

    Pros

    Nice coworkers. Interesting work available.

    Cons

    Challenging management. Rank and file looked at as
    Fungible.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10.  

    It was a good experience

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

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

    Pros

    Good Experience to a professional environment. Work life balance is getting a bigger push.

    Cons

    Starting compensation is lacking. Company is lacking perks such as stock purchase program.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    Intern in operations.

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    The experience was pleasant, I was in a bit of not-knowing if I would have been offered a full-time opportunity or not. The staff is very nice and I was situated in the main branch of State Street which is on Lincoln street. I ended up opting out for another opportunity that came my way.

    Cons

    I don't have any feedback to give in terms of my intern experience. I just wish that they were more up-front about whether I was considered for a full-time placement. Overall, the experience was a good learning experience and the department was going through some down-sizing at the time as well.

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