State Street Reviews

Updated July 28, 2015
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232 Employee Reviews

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  1. AVP

    • 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 full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Good work life balance at the firm

    Cons

    Not innovative, slow to market.


  2. Helpful (2)

    Very Poor

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

    I worked at State Street

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

    Pros

    Almost nothing encouraging. Potential for overtime pay.

    Cons

    High turn around of employees. Many promises for advancement and pay up grade and work from home capabilities. NEVER HONORED

    Advice to Management

    learn to have some value for employes


  3. Only if you love to work!

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

    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

    Not much that o can think of. If you work late they'll order food.

    Cons

    No work/life balance, pay is low for the amount of hours worked, raises are minimal (1%-3%) and bonuses are low as well (2%-5%). A lot of weekend and holiday work.


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  5. senior fund accountant

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

    I worked at State Street

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

    Pros

    super easy, mindless, boring work

    Cons

    not much learning. feels like a sweat shop


  6. Resume killer

    Former Employee - Anonymous Employee in Boston, MA
    Former Employee - Anonymous Employee in Boston, MA

    I worked at State Street full-time

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

    Pros

    Free parking at the South Shore offices

    Cons

    Too many to list but if you are thinking of working at State Street I'd think again. I know the industry inside and out and can tell you we see someone applying with State Street on their resume we wonder if they have what it takes to succeed at a real company then feel bad for them. We know we could offer them a temp job collecting faxes or turning the lights off and on all day and they'd come running.

    Advice to Management

    The layoffs will continue until morale improves right guys?


  7. Client Operations Manager

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

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

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

    Pros

    Good place to gain business experience, good benefits as far as paid time off and insurance benefits.

    Cons

    Low compensation, high turnover, low morale, little to no training, in many departments you will be expected to work long hours, high stress


  8. Stealth Outsourcing - look it up

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

    I worked at State Street full-time (More than 10 years)

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    Vacation policy and some decent co-workers (what's left of them)

    Cons

    State Street has been engaging in stealth outsourcing and a policy of monthly revolving layoffs for the last several years ever since the **it hit the fan in the news about all the gov't money/benefits they got while laying off thousands of US employees. I wonder how many people call in sick on the last Wednesday of each month out of fear of getting that tap on the shoulder. No wonder morale is in the hopper.

    Advice to Management

    Stop what you're doing. It's NOT working. Your clients are pissed, your employees couldn't have lower morale if they were in the inner rings of hell and yet you continue allow your offshoring/outsourcing ventures get away with producing the shoddiest of results with no repercussions. If you don't find a way to fix this (and soon), the State Street clipper ship will sink deeper than the Titanic. (Hint - offshoring/outsourcing more work isn't the right answer). State Street grew more than six fold during Marsh Carter's nine years as CEO. Dump the consultants you have and pay him anything he wants to turn this around.


  9. Working in IT

    • 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 full-time

    Doesn't Recommend
    Doesn't Recommend

    Pros

    Flexible work arrangement options (e.g. work-at-home and compressed work week)

    Cons

    Outsourcing jobs to unskilled workers. Inefficiencies, waste, and lack of ownership.


  10. Helpful (3)

    At best, State Street is a stepping stone to a real job.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Associate, Account Manager
    Current Employee - Senior Associate, Account Manager

    I have been working at State Street full-time

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

    Pros

    State street has decent benefits and the ability to work from home. WFH is nice but quickly becomes a two edged sward.

    Cons

    In recent years State Street has become very hostile to it's employees. Work from home was introduced as a way to have a work life balance but has turned into an expectation that yes, you can take your child to the doctor for their 104 degree fever but you better be logged in from home working until 11pm tonight. Compensation has also become a thing of the past. Every year the company brags on how well we've done only to turn around a few weeks later and make excuses why for yet another year they can not afford to give raises to all but 20% of the company. Lastly, it is no longer a place to grow a career. State Street is constantly trying to lower the bar. Promotions are based on the lowest bidder and if you have been in your position for a few years you are considered overpaid and you are laid off. There is a reason State Street so aggressively pursues college seniors. They are cheap, naive, in experienced, and will not stay around long enough to move up the pay scale. At best, State Street is a stepping stone to a real job. Do not consider this a long term opportunity.

    Advice to Management

    Send all of your employees home for the week and see if they really are the problem you treat them as or if maybe they are what makes your company be the success it is.


  11. Helpful (1)

    horrible

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

    I worked at State Street full-time

    Doesn't Recommend
    Negative Outlook
    Doesn't Recommend
    Negative Outlook

    Pros

    fun people to work with job not that difficult in my group good insurance

    Cons

    long hours little pay no advancement opportunities to many manager pets

    Advice to Management

    increase pay!



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