State Street Reviews

Updated 20 October 2014
Updated 20 October 2014
1,314 Reviews
2.7
1,314 Reviews
Rating Trends

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State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
419 Ratings

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 126 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 61 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. 1 person found this helpful  

    Great starting place to work on office personal skills and is easy to stand out.

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

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

    Pros

    Great group of young co-workers and good way to get experience for recent college grads. Great benefits and the management tends to be promoted from within the company which gives makes for an understanding relationship. You can learn a lot about accounts and as long as you have a little bit of soft skills, its easy to make friends and do well. I work with a great team. Great if you get satisfaction from problem solving with numbers.

    Cons

    Compensation seems to be on the small end in the industry. You will work long hours depending on the group that you work for, but my team does push for working from home and flexing your schedule around your personal life in order not to burn out. People tend to only stick around for 1-3 years.

    Advice to ManagementAdvice

    Company does have a lot of turnover. Invest more immediate pay into your entry level if you want to see them stick around and not transfer out. Quit trying to cut costs by moving to smaller office spaces if you aren't going to distribute savings amongst employees.

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

    Good experience entering financial field

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

    I worked at State Street full-time (more than 8 years)

    Pros

    Given opportunity to learn mutual funds

    Cons

    Low pay, company sends jobs offshore

    Advice to ManagementAdvice

    Please be good to employees, most are been with the company for a long time

    Recommends
    Neutral Outlook
    No opinion of CEO
  3.  

    So far my experience has been good, people are friendly and welcoming!

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

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

    Pros

    It is a great resume booster and the people seem to be very nice so far.

    Cons

    The pay is very low for someone living in the city or communting to it.

    Advice to ManagementAdvice

    Be more accomodating to personal finances.

    Recommends
    Positive Outlook
    Approves of CEO
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  5.  

    fund accountant

    • 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 an year)

    Pros

    benefits, location, reputation, looks great on the cv

    Cons

    long work hours, parking, office culture

    Recommends
    Neutral Outlook
    Approves of CEO
  6.  

    Great career development opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Operations Processing Analyst in Hadley, MA (US)
    Current Employee - Operations Processing Analyst in Hadley, MA (US)

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

    Pros

    Learn a lot and develop skills that will help in career development

    Cons

    Work is boring at times

    Advice to ManagementAdvice

    None

    Recommends
    Positive Outlook
    No opinion of CEO
  7.  

    Staff

    • 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

    A good place to start your career

    Cons

    Low starting salary in the beginning

  8.  

    Good saslary and perks for higher ups, not a bad place for a foot in the door in the finance/accounting industry

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

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

    Pros

    training and support provided. personal development is valued.

    Cons

    Low entry-level wages... Have to keep yourself motivated to do this type of work. not stable, sometimes stressful.

    Advice to ManagementAdvice

    Retention of valuable employees that leave elsewhere for better opportunities can be done by raising lower salaries.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Reconciliation Associate in Pune (India)
    Current Employee - Senior Reconciliation Associate in Pune (India)

    I have been working at State Street full-time (more than 3 years)

    Pros

    Best bank to start with, lots of exposure to financial services market

    Cons

    Pay is not good as compared to peer groups

    Recommends
    Neutral Outlook
  10.  

    Huge corporation focused on profits, not people

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

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

    Pros

    Good exposure to fund accounting for an entry level, recent college grad. If you're put into client operations or fund accounting, you can learn a lot of skills quickly to put on your resume. (Any custody type, processing roles will be completely useless for your career however)

    Cons

    They've outsourced most of their workforce overseas at this point so good luck keeping your job. Not only does that mean layoffs for us, but also the quality of work suffers. The people in India and the Philippines they hire are completely incompetent and you will have to pick up their slack. In fact, it seems as though they foster a culture of mediocrity in general: get your work done, don't go above and beyond because we don't listen to people who think outside the box and don't recognize overachievers. All the truly talented people leave this company within a few years. VERY low pay, to the point where I can barely pay bills. Very hard to get promoted, basically no employee development in this company. If you are a serious professional trying to make a career in the financial industry, don't waste your time here, they don't reimburse employees for the CFA exam. You are not important to them: you are a cog in the wheel.

    Advice to ManagementAdvice

    Invest more in employee development to instill a sense of community among the employees. Encourage them to develop themselves professionally and reimburse them more for graduate programs, CFA, CPA, etc. And please pay people who actually perform!

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11.  

    Financial Reporting Specialist

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

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

    Pros

    Gain a lot of experience

    Cons

    There are nothing much to talk about cons

    Advice to ManagementAdvice

    Please consider work-life balance.

    Doesn't Recommend
    Disapproves of CEO

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