Advancement opportunities for top performers only - Senior Associate State Street Employee Review

4.0
30 Oct 2008
Recommend
CEO approval
Business outlook

Pros

There are a wide breadth of positions within the company, and plenty of potential for advancement for the top performers. Entry-level starting salaries are low, however, after about 6-8 months, I was earning 35-40% of my base in overtime. All of the entry and senior level jobs are non-exempt, and other reviewers who spoke of working 50+ hour weeks for 32k were being taken advantage of, which is no one's fault but their own. The compensation system was revamped this past year, making all employees eligible for bonuses tied directly to the rating of their annual performance review. I received 6k after just over 2 years. I feel my career has progressed at an appropriate pace, and that my efforts have always been well noted and appreciated.

Cons

Obtaining a reasonable base salary is a lesson in futility, and seemingly next to impossible for anyone but the absolute top performers. Compensation management is strictly controlled on a corporate level, with a prescribed progression based almost solely on length of service. People performing the exact same job functions can have large disparities in pay unrelated to performance. When interviewing internally expect to be offered the same 3-5% increase regardless of position. There are ways around the system, but they require the concerted effort of middle-upper management.

Explore other reviews about State Street

5.0
5 June 2026
Recommend
CEO approval
Business outlook

Pros

on-boarding was easy, lot of learning opportunities/clients to service, nice co-workers

Cons

sparse work-load allotted, difficult client assignments, strict vps

1.0
14 May 2026
Recommend
CEO approval
Business outlook

Pros

Remote work is (rarely) an option, though the approval process is extremely slow and bureaucratic. There are a few well-meaning colleagues who genuinely try to drive positive change before burning out.

Cons

Onboarding and HR processes are severely broken, taking 11 months to approve remote status and failing to prepare basic equipment for day one. The workplace culture is deeply hostile, with anger and yelling functioning as the default communication style across teams. Leadership turnover is rampant, resulting in constant re-organizations, splintered teams, and a total lack of strategic direction. Role clarity is non-existent, forcing employees to invent their own daily tasks while receiving entirely contradictory instructions. Direct management is completely absent; I went seven months without any contact from my boss before being laid off via a three-word instant message and short call.

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