State Street

  www.statestreet.com
  www.statestreet.com

State Street Reviews

Updated December 9, 2014
Updated December 9, 2014
1,383 Reviews
2.8
1,383 Reviews
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State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
447 Ratings

Review Highlights

Pros
  • Good work life balance with potential to work from home or create a flexible schedule (in 132 reviews)

  • The flex work schedule, most people have an option to work from home twice a week (in 65 reviews)


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

  • long hours, too much operational work, not so many bright people that can inspire you (in 57 reviews)

More Highlights

186 Employee Reviews Back to all reviews

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  1. 3 people found this helpful  

    Slave street

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

    I worked at State Street full-time (more than an year)

    Pros

    Work from home. That's about it. That's only if you have a manager that lets you do it.

    Cons

    -outsourcing
    -a joke of a salary, the lowest in the industry
    -huge corporation so you always feel lost : need to talk to HR? Who do I go to? Need to talk to IT? : sit on hold with the "Help(less) Desk" for hours and finally have your questions not answered by someone in India... Seriously it took them 6 months to install something very basic and necessary for my job into my computer
    -does NOT look good on a resume... I've talked with many recruiters in the industry
    -everyone is incompetent
    -smart people leave, mediocre people get promoted
    -no work life balance in some groups. When I was hired, I was duped into thinking that we would get paid for all the overtime we put in. Actually the standard day was 9 hours, and they would make you put in a mandatory UNPAID hour lunch break. But of course you couldn't get away from your desk for more than 10 minutes without getting yelled at. So you didn't actually take that lunch break, ever. Sorry, but you can't make people work 50 hour weeks, staying until 8,9, sometimes 10 pm every night for the ridiculous blue collar salary you pay us.

    Advice to ManagementAdvice

    Like they would even care? Where are they? Do they ever listen to what we have to say. I wonder how Jay Hooley sleeps at night knowing that this is a legal slavery operation that he is running

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    It's a company

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

    I worked at State Street

    Pros

    A paycheck
    Benefits
    A chair
    A building to work in as opposed to a field (though, not sure that is a pro).

    Cons

    Training - Basic functional training on systems that may or may not be relative to your position
    Co-workers - Some are miserable, some are too happy. Pick your poison.
    Values - There are no values that I could see. This is the wild west.
    Time off - Schedule it immediately and make sure you take it. They may try to pressure you into not taking it. Take it anyway and be prepared for the treatment you will come back to.
    Management - Does not get involved, resorts to layoffs to keep it hot in there.

    Advice to ManagementAdvice

    I wouldn't waste my time..they are buying their time off the workers backs.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  3. 1 person found this helpful  

    Mediocre at best

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Global Transaction Processing Associate in Hadley, MA
    Current Employee - Global Transaction Processing Associate in Hadley, MA

    I have been working at State Street part-time (more than an year)

    Pros

    The work is not challenging, very easy to get by

    Cons

    No upwards movement, terrible salary

    Advice to ManagementAdvice

    Treat your employees better so you attract higher quality professionals

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 2 people found this helpful  

    If you have worked anywhere else this will be worse

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee in London, England (UK)
    Former Employee - Anonymous Employee in London, England (UK)

    I worked at State Street full-time (more than an year)

    Pros

    They pay you each month (nowhere near the market rate but they do pay you!)
    "Welcome to State Street" seems a nice thing to say but it is the phrase they use to new hires when the new hire questions the ludicrous ways that State Street does things! Translates to "I know its absolutely ridiculous but don't even bother thinking you're going to change anything."

    Cons

    No strategy.
    Unbelievably status oriented. Don't bother having any ideas about how you could improve things- it's only your boss who can have ideas. And don't try arranging a meeting with someone of a higher "bank grade" or sending them an email. They won't respond.
    Dictatorial
    Culture of presenteeism. You need to be seen to be in the office and for extended hours. It's not about what you deliver.

    Advice to ManagementAdvice

    Give it all up and sell the business to someone who knows how to run a business.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 5 people found this helpful  

    Unless you are desperate for a job look somewhere else

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

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

    Pros

    Decent benefits
    Team oriented
    Located outside of Boston

    Cons

    Always understaffed
    Work all but 2 holidays a year
    Poor training
    Limited room for gorwth
    Low base salary and bonus compared to other companies
    Overworked and everyone in the team is burnt out
    Worked during 3 blizzards and one tropical storm

    Advice to ManagementAdvice

    Hire more people to spread the work load, focused more on training current employees, and recognize those who stand

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  7. 2 people found this helpful  

    Not worth your time

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Trade Processor Associate I in Hadley, MA
    Current Employee - Trade Processor Associate I in Hadley, MA

    I have been working at State Street part-time (more than an year)

    Pros

    extra money while in school, make your own schedule

    Cons

    horrible management, no time off requests granted, boring

    Doesn't Recommend
    No opinion of CEO
  8. 1 person found this helpful  

    Behind the times business that doesn't provide much employee development

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Portfolio Accountant in Westwood, MA
    Former Employee - Portfolio Accountant in Westwood, MA

    I worked at State Street as a contractor (less than an year)

    Pros

    If you require some resume building to say that you've worked in the financial services industry. Not an ideal workplace environment for growth opportunities. Truly lives up to the corporate bureaucracy stigma.

    Cons

    A blatant lack of disregard towards employee training and development. Most of these jobs can be automated, however since they have such a high-turnover and from a liability standpoint it is cheaper to blame misconduct or errors on employees rather than face legal action for a technological mishap.

    Advice to ManagementAdvice

    Consider better standard operating procedures for training employees.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 2 people found this helpful  

    Glowing example of exactly where you do not want to be

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

    I worked at State Street full-time

    Pros

    Not a single one
    Not a single one
    Not a single one

    Cons

    It's like Disney World, but dirtier
    People smiling like raging psychopaths
    Very "alternative" environment
    Ridiculous hours
    I wouldn't say bad and unethical people, but rather people who expect too much.

    Recommends
    Neutral Outlook
    No opinion of CEO
  10. 3 people found this helpful  

    Good ops, bad company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Associate in Toronto, ON (Canada)
    Former Employee - Senior Associate in Toronto, ON (Canada)

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

    Pros

    Given the turnover, lots of opps to move up in a short time.

    Cons

    Lots of turnover, constantly understaffed, underpaid, and over worked.
    Incompetant senior management, who cant lead/properly communicate with employees
    underpaid by 20-50% for same positions elsewhere

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  11. 1 person found this helpful  

    don't even think about it

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

    I have been working at State Street

    Pros

    Lots of work, don't want you to stay for OT

    Cons

    Too much unnecessarily courses to take

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