State Street Reviews

Updated 17 October 2014
Updated 17 October 2014
1,312 Reviews
2.7
1,312 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
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

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.  

    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
  6.  

    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
  7.  

    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
  8. 3 people found this helpful  

    Good opportunity to gain valuable industry experience, but low pay and little advancement options.

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

    I worked at State Street (more than 5 years)

    Pros

    The people, the experience, working from home options, and the benefits

    Cons

    I worked here for 7 years. I started at $32,000 like all my peers. Despite consistently meeting or exceeding expectations on my PPR, I was never promoted and was making a little over $36,000 when I left.

    Advice to ManagementAdvice

    Recognize and promote associates who show promise

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  9. 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
  10.  

    Layoffs, Layoffs, Layoffs to good people

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

    I have been working at State Street full-time (more than 10 years)

    Pros

    Experience, work-life balance, benefits, retirement matching,

    Cons

    compensation, no loyalty to employees with many years of service, constants layoffs and corporate driven. Pay consultants not employees.

    Advice to ManagementAdvice

    training, leadership

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    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.

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