State Street

  www.statestreet.com
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State Street Reviews

Updated 17 August 2014
Updated 17 August 2014
1,287 Reviews

2.7
1,287 Reviews
Rating Trends

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

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 120 reviews)

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


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 36 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 47 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Great Company to Work For, overall...

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

    Pros

    5 Weeks Vacation (4 Regular and 1 you can buy)

    Cons

    Some positions are very tightly regulated, you don't have the opportunity to think for yourself of take initative.

    Advice to ManagementAdvice

    You promote a "Work From Home / Flex work" program...you should make sure all divisions/departments allows all employees to have an opportunity to take advantage of it. There are some managers that tell employees that this option is not available to them (but then do it themselves)

    Recommends
    Positive Outlook
    Approves of CEO
  2. 1 person found this helpful  

    Strong company with rapid progression and plenty of room for growth, with sudden and frequent employee turnaround.

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

    Pros

    Benefits
    Security -As long as you're an employee
    Reputation
    Compensation

    Cons

    Sudden and continuous layoffs with increasing overseas outsourcing. Company provides more opportunities for appreciation offered with less appreciation given by management.

    Advice to ManagementAdvice

    Communication is key. Employees are not slaves who will work more for less.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    State Street is Not a Company to Advance Your Career

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

    Pros

    They have flexible work schedules, good benefits that take a while to kick in, and the workload is not bad.

    Cons

    Their pay is low for most jobs, you are stagnated in certain positions, and there are not enough opportunities for career advancement.

    Advice to ManagementAdvice

    The culture at State Street is a top down approach. It would be beneficial if employees had more input.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5.  

    Good starter job out of college

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Fund Accountant Associate II  in  Kansas City, MO (US)
    Current Employee - Fund Accountant Associate II in Kansas City, MO (US)

    Pros

    The people I work with are nice. Easy to move up the ladder.

    Cons

    The pay is too low

    Advice to ManagementAdvice

    Raise the pay and provide additional training whenever you ask someone to do something they haven't seen before.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  6.  

    Good starter job

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Decent pay for first job

    Cons

    Management was disconnected from their employees

  7.  

    Great Company

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

    Pros

    I had previously work in the AIS Real Estate Performance Measurement area and always impressed at how they continued to search and improve ways to service their clients.

    Cons

    Upper management wasn't always forthcoming on how they felt about certain business groups.

    Advice to ManagementAdvice

    I would recommend having a VP level person running a business group as the lower levels of management don't always have the experience level to properly service the clients. That level is to close to the work many times and can lose sight of what their clients are really looking for.

    Recommends
    Positive Outlook
    Approves of CEO
  8.  

    Good company low salaries

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

    Pros

    The company is supportive of work-life balance and has a lot of opportunity to take advantage of their flex policy. The people you work with are really wonderful, smart and professional.

    Cons

    The pay is low as compared to other companies similar in size and operation. Often businesses work in silos and it is hard to get things done. Senior management doesn't appear to make an effort to retain the best talent.

    Advice to ManagementAdvice

    Promote and retain talent by paying market wages.

    Recommends
    Negative Outlook
    Approves of CEO
  9. 1 person found this helpful  

    Job..

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

    Pros

    flexible flexible flexible flexible flexible

    Cons

    business lacks discipline business lacks discipline

    Advice to ManagementAdvice

    improve your FT employee quality through better HR

    Doesn't Recommend
    Neutral Outlook
  10.  

    Great!

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    nice people, good programs, networking opportunities, tuition reimbursements

    Cons

    working hours are too long

    Recommends
    Approves of CEO
  11. 2 people found this helpful  

    Good only for a few months...

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

    Pros

    Good eposure to variety of markets and products, nice canteen, some nice and smart people in the company, flexibility, they allow staff to work from home.

    Cons

    Ridiculous hours (expect to work 50 plus on officer level), very often you will be forced to log from home after hours and stay till midnight. Expect also to attend a call at 11pm of your time with a few hours notice and being asked to work during the weekend. Your private life does not matter, even if you have family or you are pregnant. However on occassional basis you will be said "thank you for suspending your life for this project". Very soon you will find out that you have to suspend all your life and work actually 24/7. Permanent employees on senior + level are not paid at all for overtime.
    Experienced people are not appreciated, politics plays a key role in promotions. The one who yells the most is promoted. People are set against each other and encouraged to do so.
    A lot of procedural gaps, rah - rah meetings, a lot of stuff agreed on a word of mouth, after a few weeks noone remembers why it even has been agreed. Everything, because the company has to be felxible.
    Many departments are severely understaffed, management only keeps promising they will hore more people. After a few weeks they will announce the company had a very bad quarterly revenue and will not hire anyone, insted they will expect the whole department to do more work and longer hours.
    A few good employees were treatened by their senior management and left.
    State Street seems to abuse opportunity to hire temp staff - some departments are made n 90% by contractors and contrats are being etended even on a monthly basis. People may realise just a day before their contract has been or not been renewed, if they still have access to the building or not. And vast majority of them is on contract for even 2 years. Whilst the same level of responsibility is put on contractors, they are not being treated as valued and a part of the team - instead they are being kept away from much information.
    Management does not care about the employees, despite they pretend to so. Most of them cannot control themselves and transfer their panic to the team.
    Senior management unapproachable, does not communicate with the staff,

    Advice to ManagementAdvice

    Remember who does all good job for you, treat people as humans.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

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