State Street Reviews

Updated June 26, 2015
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State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
148 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

616 Employee Reviews

Sort: Popular Rating Date
  1. Associate II - Good Place to Learn, Not Stay

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

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

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

    Pros

    - The people. Your co-workers are all in their twenties and you will have plenty of fun. The Sacramento office has a ping pong table, fun location, and some really great people.

    - You're in an office environment with a good name on your resume. You can say you have been there, done that with regards to some legitimate finance experience. It is back office work, but you can easily spin it to sound halfway decent.

    - You will learn some... not a lot, but some. After a few months, it is mostly repetitive steps you have seen thousands of times.

    - There are some real Excel gurus in the office. Learn from them as much as possible.

    Cons

    - Repetitive, super boring work.
    - If you're a decent employee, they will quickly overload you with tons of stuff to do.
    - Frustrating, with little help from management (a byproduct of promoting some young employees quickly).
    - After a few months the learning quickly evaporates.
    - Middle management - officer & AVP - are some questionable employees.

    Advice to Management

    Take promotions seriously, develop the good people (and fire the bad ones!), increase the pay. If someone shows promise, reward them! Stop working those people until they burn out and leave.


  2. Mediocre

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

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

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

    Pros

    Benefits are great.
    3 weeks vacation to start off.
    Easy to move around the company horizontally and vertically.
    Work from home capability.
    Many employee engagement activities.

    Cons

    Low moral and turnover due to frequent overtime, inefficient software and slow computers, management being self-serving and noncompetitive pay. Additionally, their are many management layers many of which are filled with inexperienced individuals who stuck it out and took advantage of the companies inability to attain and keep well qualified, knowledgable employees. Having been interviewed at different firms by accountants and was told, SS does not practice true accounting and the skills and software used does not transfer.

    Advice to Management

    Pay a more competitive wage to retain quality individuals who can bring about real ideas on how to develop and package services to clients that are competitive and new to the industry.
    Invest in new software and equipment.
    Get rid of management that are just keeping a seat warm.


  3. Could be better

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

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

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

    Pros

    Awesome benefits. Good options for insurance, so much paid time off that I have problems using it all, very casual dress code, working from home option 3 days/week, volunteer days and company donation match, lots of resources available for professional development and career growth. Overtime available for A1 & 2 levels helps compensate for the horrible pay. If you're placed in the right department with the right team, you're surrounded by great people and great bosses.

    Cons

    Paying for parking every month is ridiculous, even if it is pre tax. The cafeteria is way overpriced. The pay at the entry level positions is laughable. Outsourcing departments to India puts people out of jobs and leaves the remaining employees frustrated with the poor work. The training sucks, to be blunt. Everything seems extremely unorganized from the upper management level.

    Advice to Management

    Increase pay, especially at the entry level position. State Street has a reputation of hiring anyone, but you can get rid of that by actually recruiting finance/accounting people with common sense. Improve the culture by making the environment less like a sweatshop and more like one of the oldest, most successful financial services company in the nation, because you are.


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  5. Good Company To Work for

    • 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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Large and diverse company with potential for opportunities

    Cons

    Should promote in house more


  6. Business / Advanced Data Analyst

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    Former Contractor - Senior Business Analyst in Franklin, MA
    Former Contractor - Senior Business Analyst in Franklin, MA

    I worked at State Street as a contractor (More than 10 years)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Good Pay and very bright staff / all levels of seniority -- from interns type to Sr. Execs.

    Cons

    Very tight time frames -- too many folks in projects lot of confusion of postiions / responsibilities etc.

    Advice to Management

    It is a great shop -- employee friendly // Keep it going and let there be some better guidance / off-shore vs on-shore work style / preferences and indifference need to be reviewed / addressed.


  7. Intern

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    A great place for gathering experience and getting to know the industry.

    Cons

    Very large corporation, feels like just a number.


  8. Good for starting out

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - SEC Yield Analyst, Associate II in South Boston, MA
    Current Employee - SEC Yield Analyst, Associate II in South Boston, MA

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Work/life balance is great- rarely work 40 hours/ week except during month end, and you are paid time and a half for any overtime. There is opportunity for growth, usually promoted after one year. Overall- a good starting spot, don't get too comfortable!

    Cons

    Starting salary is very low. Groups are often understaffed due to high rate of turnover and its incredibly time consuming to hire someone new, if they even keep a position open after someone leaves.

    Advice to Management

    Offer more rewards and take notice of those working hard


  9. "Not much learning going on here"

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

    I have been working at State Street as an intern

    Pros

    Good pay for an intern that is doing nothing, friendly people, leniency with hours, helpful support system, and a dining hall in the building that serves decent food

    Cons

    no learning, every job on the floor seems replacable, doesn't provide much actual business experience, no parking or discount for train transportation

    Advice to Management

    replace the jobs that can be replaced with a computer program and give people the opportunity to do more work that is challenging and requires brain power and decision making skills.


  10. Vice President

    • 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 (More than 10 years)

    Pros

    Opportunity to learn multiple businesses , work from home

    Cons

    Management does not know who is adding how much value


  11. Manager of Analytics

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

    I have been working at State Street (More than 5 years)

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

    Pros

    Great company with lots of room for potential growth. Great work environment where you get a chance to meet lots of great people.

    Cons

    Long hours and the difficulty in advancing your career. Lots of time and poor communication taken away from the management.

    Advice to Management

    Listen to the workers and give us an opportunity to grow. Also improve communication between management and the employees.



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