State Street
2.7 of 5 1,201 reviews
www.statestreet.com Boston, MA 5000+ Employees

State Street Reviews

Updated Jul 7, 2014
All Employees Current Employees Only

2.7 1,201 reviews

                             

51% Approve of the CEO

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

Joseph (Jay) L. Hooley

(372 ratings)

40% of employees recommend this company to a friend
159 Employee Reviews Back to all reviews
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    3 people found this helpful  

    AVOID AT ALL COSTS

    Anonymous Employee (Current Employee)

    ProsWork life balance? I'm really at a loss of words for this place......if you have any ambition whatsoever, do not even considering applying here.

    ConsNo growth, low pay, inept managers, ZERO motivation. This is where careers go to die a slow, painful death. Oh, your job will likely be outsourced and you fired - after you train your replacement.

    Advice to Senior ManagementStart over.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    5 people found this helpful  

    Taking this job was a horrible mistake.

    Accounting/Pricing Specialist (Current Employee)

    ProsCasual Friday
    Benefits
    Work / Life Balance

    ConsThere are so many things wrong with State Street.

    1. A starting salary of $32,000 is abysmally low. My friend's manager has been with the company for 12ish years and is stuck just above $50,000.

    2. The training is a mixed bag. The in class training you receive when you start is actually very well done, and taught by very capable teachers. Unfortunately, it hardly prepares you for the floor. Training on the floor is downright horrendous. You'll be taught one thing, and then five minutes later they'll change their procedures and tell you you're doing it wrong. Furthermore, many of the employees don't have accounting backgrounds so they know how to press the buttons but they can't really tell you what you're doing.

    3. Typical corporate douchebaggery.

    4. You don't get lunch breaks. You do when you start. Then they go away. Pretty sure that's illegal.

    Advice to Senior ManagementI'll be collecting a few more paychecks, and then I'll be on my way. You suck, goodbye.

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    4 people found this helpful  

    Overworked, Mindless data entry, paid like yesterdays trash.

    Client Service Representative (Current Employee)
    Kansas City, MO

    ProsGood health and dental.
    Friendly coworkers.

    Cons-Was trained for two weeks on pointless corporate talking points then thrown to the wolves and had the job responsibilities of three people.
    -Pay was terrible
    -Your job is always several months away from going to India

    Advice to Senior ManagementWell your company is making money so obviously outsourcing jobs to India and paying overqualified people to the jobs you haven't outsourced yet is working!

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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    • Culture & Values
           
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    2 people found this helpful  

    Buyer Beware

    Vice President (Current Employee)

    ProsFlexible work arrangements and at will employment so you can leave

    ConsNo upward mobility; horrible compensation (not anywhere near on par with industry); weak management team with no direction; toxic culture (point and blame); no acountability

    Advice to Senior ManagementChange the culture; involve more employees; distribute "wealth" to the people actually doing the work (e.g., VPs and less senior SVPs) rather than just at the top of the house (long tenured SVPs and EVPs)

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    Bad company to work for--disrespected and unappreciated

    Fund Accountant, Associate I (Former Employee)
    Sacramento, CA

    ProsGood co-workers (generally)
    Convenient locations
    Large company with lots of growth/transfers

    ConsLots of overtime
    Low starting pay
    Very linear, repetitive job
    Complete disregard to your well being
    A normal case of a big company not caring about its smaller employees, toss you around and you can't fight back
    Extremely private company
    The environment isn't relationship friendly--they want you to work like ants and don't want you to make friends

    Advice to Senior ManagementRespect/build relationships with your employees more so that they will want to work harder
    Stop treating employees as threats and more like people
    Trust your employees

    No, I would not recommend this company to a friend

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    3 people found this helpful  

    Full of flaws

    Derivatives Pricing Specialist (Current Employee)
    Sacramento, CA

    ProsCoffee machines
    Casual dress everyday at Sacramento office
    Relatively easy to get hired right out of college

    ConsLow pay
    Boring, meaningless, repetitive work
    Upper management doesn't care about fostering growth amongst employees
    Extremely high turnover
    Absolutely no reason to stay longer than a year

    Advice to Senior ManagementPay higher salaries to reduce turnover. Make it a point to let employees know what exactly their tasks are accomplishing. Most people leave for better positions once they completed their CFAs, CPAs, and MBAs.

    No, I would not recommend this company to a friend

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    3 people found this helpful  

    Great place to start because it really tempers your expectations

    Associate I (Current Employee)
    Hadley, MA

    ProsEasy to get in the door, lots of time off, not salaried so overtime is nice

    ConsTechnology is lacking; I make less here than I did when i worked at Starbucks; no one seems to know what anyone else does which leads to slow response times and other business units getting annoyed with you; management doesn't know anything about day to day processes so the ground floor employees are pretty much on their own to learn how to fix any problems they encounter; I don't know anyone else that works in my office outside of my team; people just don't show up and the rest of the team is expected to pick up their slack; every time you think the incompetence has floored out someone finds a way to push your expectations lower; office looks like a call center; you can't listen to music or even have a conversation without a manager either giving you grief; all of the after hours career building activities take place in Boston/Quincy so if you're in Hadley, MA you're out of luck for any of the professional benefits State Street offers; consistent weekend work but the same few people are volunteered to come in time after time; little to no room for growth unless you've got a few years; jobs are being moved overseas for obvious reasons but it's just not working with the poor training and communication

    Advice to Senior Managementcreate some intangible benefits for the office if you aren't going to give the pay to make the work worth it

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    2 people found this helpful  

    Not as good as used to be

    Senior Associate (Current Employee)
    Boston, MA

    ProsGreat benefits, great locations, nothing else

    ConsOutsourcing our jobs to the Indians, layoffs every year

    Advice to Senior ManagementFix your strategy, you are a US great company, don't benefit the Indians and layoff the hard US workers to please the shareholders, soon they will sell their shares and you won't have a job.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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    1 person found this helpful  

    If meaningless, tedious work is your thing, apply!

    Anonymous Employee (Current Employee)

    ProsYou can take a 2-hour lunch every day.
    You have very little work and can surf the web all day.
    Good benefits and vacation time.
    People think the State Street name is impressive.

    ConsEvery single person hates the fact that they work here and it shows. You will not make friends or have fun here.
    Every day is gray, boring, and you will feel your job is meaningless. This job provides no fulfillment.
    The work is way too easy.

    Advice to Senior ManagementTry reach out to lower level employees. Keep them happy, try to satisfy them a bit.

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    Not great

    Vice President (Current Employee)
    Boston, MA

    ProsBenefits Package & Work Life Balance

    ConsManagement Structure & Compensation Strategy

    No, I would not recommend this company to a friend

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At State Street, we know that smart, skilled, productive employees are essential to our company’s continued success. As a leading provider of financial services, with operations in 27 countries and more than… Full Overview

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