State Street Reviews

Updated August 2, 2015
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State Street President and CEO Joseph L. Hooley
Joseph L. Hooley
138 Ratings

Pros
  • Flex work program allowing for good work/life balance (in 132 reviews)

  • The only one I can think of is the ability to work from home (in 65 reviews)

Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 42 reviews)

  • High turnover due to long hours (in 57 reviews)

More Pros and Cons

431 Employee Reviews

Sort: Popular Rating Date
  1. Decent entry level job but really no advancement opportunities

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate II in Sacramento, CA
    Current Employee - Associate II in Sacramento, CA

    I have been working at State Street full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    * Can use as an opportunity for management experience since there is such high turnover. * Schedule can be flexible depending on the team you're on & flex work is usually available.

    Cons

    * Hardly any promotion opportunities. * Salary is pretty embarrassing. * Management will really try to take advantage of you if you're a hard worker.

    Advice to Management

    Do more to actually keep those individuals that do bring a lot to the team and work hard on a regular basis. Promote!


  2. Look Elsewhere

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

    I have been working at State Street

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    Easy to get hired because of the unqualified nature of your coworkers

    Cons

    Unorganized company to work for


  3. Client Service Associate

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Kansas City, MO
    Current Employee - Anonymous Employee in Kansas City, MO

    I have been working at State Street (Less than a year)

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    Pros

    There are great benefits and flexible work schedule.

    Cons

    The overall work attitude is very negative due to the tedious work and low pay.

    Advice to Management

    Reward hard work with promotions and bonuses.


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Assistant Vice President / Sr Software Engineer

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Assistant Vice President - Applications Developer Consultant in Irvine, CA
    Current Employee - Assistant Vice President - Applications Developer Consultant in Irvine, CA

    I have been working at State Street full-time (More than 10 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Flexible Hours. Some limited work from home options. Better than average health benefits.

    Cons

    No mobility within the company. Most people work on the same project for years at a time. All new positions are filled with contractors from an outsourcing company. No initiatives to use new technologies. Low pay and horrible bonus structure. When hired they tell you that your bonus is part of your salary but when it comes time to hand out bonuses they say they're discretional. Really low morale. Incompetent middle managers who've only been promoted because of tenure.

    Advice to Management

    Invest in more technical training for the staff. Be more transparent with bonuses.


  6. GTP, Associate 2

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - GTP, Associate II in Kansas City, MO
    Former Employee - GTP, Associate II in Kansas City, MO

    I worked at State Street

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

    Pros

    Enjoyed the people & team I worked with.

    Cons

    Pitifully low salaries; nearly nonexistent raises regardless of how good yearly reviews are.

    Advice to Management

    Give a 💩 about how much you pay those below the senior level.


  7. Don't Expect to Stay Long

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Tax Analyst, Associate II in Boston, MA
    Former Employee - Tax Analyst, Associate II in Boston, MA

    I worked at State Street full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Mostly young kids right out of college. Good start in the industry, learn a ton

    Cons

    VERY low pay, very high turn over rate, very hard to get promoted

    Advice to Management

    You get what you pay for, more you're willing to pay, less turn around you will get.


  8. Helpful (7)

    Bad Company Culture

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

    I have been working at State Street full-time (More than 8 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Flex-time, the ability to work from home, good benefits. If you are an entry level employee, you are given three weeks of vacation and after two years you get four.

    Cons

    Since I started working at the company close to a decade ago, the company culture has completely changed. Constant layoffs and replacing seasoned veterans with entry level employees has created a very hostile atmosphere. If you are close to the age of 50 you better be prepared to be laid off. In an effort to save people from losing jobs, management has just closed open reqs. So when an employee leaves, they just are not replaced. I have seen multiple mistakes (some consisting of large financial losses) and clients becoming increasingly unhappy. Internally the teams are beginning to turn against each other. I have been on internal calls with multiple members of upper management yelling at each other. I would not be surprised to see the company losing a good number of clients in the near future if they don't begin to change things.

    Advice to Management

    Wake up and realize that you are setting up your company and employees for failure. There is a complete disconnect between the executives and the rest of the company. Please listen to the feedback of your employees...both good and bad. You may actually learn some things.


  9. Helpful (1)

    They'll hire anyone

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

    I worked at State Street full-time (More than 3 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Easy to get a job with no experience Decent benefits, I had four weeks vacation after only a few years

    Cons

    High stress without being rewarding work, monetarily or intellectually Bonus and raised are laughably bad, getting promoted to manager was effectively a pay cut for many thanks to no more overtime


  10. Fund Accountant

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Fund Accountant in Kansas City, MO
    Former Employee - Fund Accountant in Kansas City, MO

    I worked at State Street full-time (Less than a year)

    Doesn't Recommend
    No opinion of CEO
    Doesn't Recommend
    No opinion of CEO

    Pros

    The company promotes a social environment. It would be a great place for someone straight out of college looking for their first corporate job. Not a great place for long-term employment if you're starting from the bottom.

    Cons

    Some negative aspects from my perspective of working at state street include a college-type atmosphere, lack of individuality, lack of consistent work throughout the day, and lousy hours for someone looking for good work/life balance. From day one it felt like everyone was just a number. They have significant turn-over which speaks for itself.

    Advice to Management

    If possible, it might be nice to compact some jobs so that everyone is consistently busy throughout the day. It doesn't make sense to have nearly every employee experiencing 2-3 hours a day with no work. Training should also be tailored more toward individual jobs rather than having every new employee go through the same vague training.


  11. Helpful (1)

    Client ops senior associate

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Client Operations SA in Boston, MA
    Current Employee - Client Operations SA in Boston, MA

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    You can learn a lot about investment products and strategies. It is a good place to start a career in the field of finance but only for learning purposes.

    Cons

    Where to begin.. Complete disconnection between upper management and core operations Corporate politics Low pay Low employee moral Overworked, under appreciated staff White collared sweatshop environment Work balance is unbelievably unfair. -Client ops assumes the bulk of responsibility yet is paid as much as other departments that have half the responsibility and work load. Put in a few years, learn, and gain essential skills-then leave.

    Advice to Management

    Work hard to appreciate your employees and understand their concerns



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