State Street Global Markets Reviews | Glassdoor.com.au

State Street Global Markets Reviews

Updated 11 Sep 2019

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Found 81 reviews

2.7
StarStarStarStarStar
Rating TrendsRating Trends
31%
Recommend to a Friend
38%
Approve of CEO
State Street Global Markets CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
17 Ratings
Pros
  • "Good work life balance/salary ok, people generally nice but not capital markets calibre at other banks(in 17 reviews)

  • "(in 6 reviews)

Cons
  • "It is a big company - if you want direct access to senior management(in 7 reviews)

  • "Multiple layers of management per department leads to politics and silos that upper management have little desire to remove(in 4 reviews)

More Pros and Cons
  1. "Senior Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Associate in Sydney
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I have been working at State Street Global Markets full-time for more than 3 years

    Pros

    Latest technology New products Diversified verticals Internal mobility

    Cons

    Pay - 10% less than market rate Bearucratic management

    Advice to Management

    Conduct promotions on merit

    State Street Global Markets2018-03-22
  2. "Not family frendly"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Project Manager 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at State Street Global Markets full-time for more than 8 years

    Pros

    Lots of exposure and opportunity to move up in the organisation if you are happy to be thrown in the deep end.

    Cons

    Does not recognise hard work and are not family friendly. Do not increase your pay when you take on more responsibility.

    Advice to Management

    Look after your staff especially women

    State Street Global Markets2015-05-07
  3. "Don't work here for Morale..."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Trade Support Analyst in Boston, MA
    Negative Outlook
    Disapproves of CEO

    I have been working at State Street Global Markets full-time for more than 10 years

    Pros

    Lots of Recession proof jobs available

    Cons

    Management is disconnected from employees

    State Street Global Markets2019-09-11
  4. "Nice Company to work for."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Associate in Boston, MA
    Recommends
    Positive Outlook
    No Opinion of CEO

    I worked at State Street Global Markets full-time for more than 10 years

    Pros

    Good Benefits Fair wages Laid back atmosphere

    Cons

    Company lays off too often

    Advice to Management

    Layoffs need better management of staffing needs.

    State Street Global Markets2019-07-08
  5. "Banking industry can be tough in terms of work life balance"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Senior Associate in Boston, MA
    Doesn't Recommend
    Neutral Outlook
    No Opinion of CEO

    I worked at State Street Global Markets full-time for more than a year

    Pros

    Best reason is that the company is a global company and there is a lot to learn from one another. I liked interacting with various departments.

    Cons

    A bank is a bank and the environment set is very fast paced. Expectations are set but not kept real.

    Advice to Management

    Pay people to work not sit around and act as a "good" employee. Work ethic over status quo.

    State Street Global Markets2019-06-04
  6. "Professional Development Program"

    StarStarStarStarStar
    Current Employee - Anonymous Employee 

    I have been working at State Street Global Markets full-time

    Pros

    ability to experience different types of work in a variety of areas, leadership is open and supportive, and wants you to succeed

    Cons

    it's a big company, so easy to feel lost

    State Street Global Markets2019-03-28
  7. "Shouldn’t stay for too long"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Assistant Vice President 
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at State Street Global Markets full-time for more than 5 years

    Pros

    Decent pay Decent benefits Decent amount of vacation days Work life balance ok People are nice

    Cons

    Forget about raises- there’s always a reason to not give you a raise Little to no room for advancement if outside of Boston Bureaucracy becomes unbearable at times Extremely siloed making it difficult to move things forward if you are simply hoping to get things done As a result of the above if your focus is on achieving results, there is very little job satisfaction to be had

    Advice to Management

    Work on streamlining the organization Hire and retain good people Promote young talent and develop them Get rid of the lifers who are contributing little but getting big paychecks

    State Street Global Markets2019-01-19
  8. "Risk officer"

    StarStarStarStarStar
     

    I worked at State Street Global Markets

    Pros

    The salaries and bonuses were decent

    Cons

    often times departments didn't share critical info

    State Street Global Markets2018-12-10
  9. "Senior Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Boston, MA
    No Opinion of CEO

    I have been working at State Street Global Markets full-time for more than 3 years

    Pros

    Working environment is nice, people are friendly. Diverse company, benefits are good.

    Cons

    Pay is not as good as competitors, there is not much room to move up unless you keep looking.

    State Street Global Markets2018-12-04
  10. "If you are young, hungry to learn and wanting to earn decent money, then State Street is NOT for you!"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - FX Front Office in London, England
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I have been working at State Street Global Markets full-time for more than 5 years

    Pros

    Nice people Great pension Great location Nice offices

    Cons

    Very low pay relative to the market; at times 50-60% less than other banks. In some cases it’s even more. Make sure you negotiate your package as pay-rises are few and far between. Some haven’t had one in 5 years, other than inflationary adjustments. HUGE disparities in pay across desks. Some VP’s earn twice or more what others do, even when doing exactly the same job. This is very apparent and people openly talk... about it, rightly or wrongly. Extremely low bonuses relative to the market - at times less than 10% of base salary. Bonuses are allocated unfairly, again this is common knowledge. Global Markets does not breed a culture of wanting to better oneself. Most are happy doing their hours then going home. Management are happiest when you do your job and don’t ask any questions or even attempt to improve processes. It’s unwanted and it’ll be quashed in many instances, or simply ignored. It can even damage your chances of promotion if you are seen as an outlier. Multiple layers of management per department leads to politics and silos that upper management have little desire to remove. Managers often fight amongst each other. Huge cost-cutting initiatives (like in many banks) is leading to many worrying about their jobs. This is also apparent in the infrastructure spending budgets. Marketing investment is almost non-existent leading to dated and confused messaging and very amateur looking materials. Lack of infrastructure spending on IT and lack of spending on developing products and services means we are years behind the competition. Global Markets is a department within a large custodian bank. This means it gets little investment, nor is it seen as a crown jewel like in other banks. You really do feel that. Front office is dominated by those aged 50+ with established books of business. This lends itself very much toward creating a ‘boys club’ mentality with very little appetite to introduce younger talent to the pool, something which is MUCH NEEDED! This also leads to many just sitting there waiting to retire. That’s fine but it means there are little or no opportunities for promotion. Some have been in the same grade for over 10 years. Depressing. The graduate scheme programme is quite simply a joke. Graduate programmes have little or no structure leading to graduates being passed around the desks. Many sit bored. In the past few years, at the end of the programme, there have been NO jobs for the graduates so they have no option but to take a role in administration, for example, or leave. Very sad. Depressing.

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    Advice to Management

    You must diversify your talent pool. Stop employing city veterans in the 50+ range who you’ve worked with for 20 years (for example). Instead, look at younger, hungrier candidates with a passion to learn, develop and bring real ideas to the table. Secondly, you must invest properly in initiatives. Buying an OMS system which is only popular in the US doesn’t count. You must look to improve your current suite of... products and services - especially the marketing of these products. Thirdly, what is Global Markets to the bank? Is it a nice to have, or is it a key department? It appears to be the former.

    Show More
    State Street Global Markets2018-11-18
Found 81 reviews