State Street

www.statestreet.com
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200 Employee Reviews Back to all Reviews

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  1. 3 people found this helpful  

    Disappointing Experience

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

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

    Pros

    Many good people and interesting work. The company is fortunate to have a wide-moat because if the barriers to entry weren't so great this company would be out of business by now due to poor leadership.

    Cons

    limited advancement opportunities once you move past the first few layers of the organization resulting in high turnover. Many of the best leaders I have worked with in the organization have been passed over for advancement because they don't have the "right" connections. Employees are consistently instructed to manage their own careers, but then told where and what they will be doing as the organization continues to fumble through change after change. Very Boston centric. Head count to work load, opportunities for advancement and pay differences are skeewed in favor of our Boston counterparts.

    Advice to ManagementAdvice

    Management is not interested in advice and operates in a bubble.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. 4 people found this helpful  

    very dissatisfied

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President in Fair Lawn, NJ
    Current Employee - Vice President in Fair Lawn, NJ

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

    Pros

    Four weeks vacation. Mostly, not all, good people here. Good entry into the Private Equity world for college graduates.

    Cons

    Promotion and salary freezes common, additional work assigned without additional resources. Expectations to work 80 hours a week. No training, left to figure things out on your own.
    Long hours, minimal pay, possible to have someone reporting to you with a higher salary. Management does not listen or care.

    Advice to ManagementAdvice

    There is a very low morale within the office. Teams are understaffed and underpaid.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3. 4 people found this helpful  

    Better than no job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Contractor - Trade Support in Berwyn, PA
    Former Contractor - Trade Support in Berwyn, PA

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

    Pros

    A job is better than no job.

    Cons

    State Street does not treat their contractors well. They are trying to have less full time employees and more contractors. There is barely any training, since they only expect you to be there for a finite period of time. Its hard to see how treating employees this poorly can pay off long term.

    Doesn't Recommend
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  5. 8 people found this helpful  

    Vice President

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

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

    Pros

    Nothing to talk about. It is a hell

    Cons

    Most horrible place I have worked

    Advice to ManagementAdvice

    Hire good managers. Not dumbos

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 8 people found this helpful  

    Slave Street

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

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

    Pros

    Good resume booster. A lot of positions give you a good opportunity to learn a lot. These are the only two things. You'll see some people mention the work/life balance... it doesn't matter. You don't stay late, you don't get half your work done. You take a vacation, everything is in shambles when you get back. This is because of terrible organization and incompetent and selfish management.

    Cons

    low pay, toxic culture, get out as fast as you possibly can before this place sucks the life out of you. This isn't me having an abnormal terrible experience. This is the experience of most people working at State Street. My review just sounds terrible because I'm not trying to look on the bright side. This is what it is.

    Advice to ManagementAdvice

    Take business 101

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  7. 2 people found this helpful  

    Do not reccomend

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Mutual Fund Accountant, Pricing Specialist Associate I in Boston, MA
    Former Employee - Mutual Fund Accountant, Pricing Specialist Associate I in Boston, MA

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

    Pros

    Decent amount oftime off given

    Cons

    Barely compensated for any overtime

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8. 1 person found this helpful  

    Client Service

    • 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 full-time (more than 3 years)

    Pros

    you can work from home if management approves it.

    Cons

    evrything, bad mangement, politics are first then employeed. Management is not invovled with their department.

    Advice to ManagementAdvice

    to care about their employees

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 2 people found this helpful  

    Was not happy here

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    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)

    Pros

    I learned strong Excel skills while working at State Street. There is a lot of opportunity to take on your own projects and show initiative. If you do this, it is easy to advance up the corporate ladder.

    Cons

    There was long hours. The salary was very low. There was a lack of strong knowledge across the office. They only provided 1 computer monitor for work that needed at least 2 screens. All of these led to high turnover.

    Advice to ManagementAdvice

    Fix the hours problem, you are over working your employees into the ground.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. 4 people found this helpful  

    Ridgid and incompetent infrastructure support

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    Current Employee - Officer in New York, NY
    Current Employee - Officer in New York, NY

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

    Pros

    Team members are dedicated and generally expert int their area of responsibility.

    Cons

    Infrastructure support quality has plummeted since outsourcing to IBM, but even before that, silly end-of -period lockdowns and mindless restrictions on development staff cost the company millions in lost productivity, unnecessary hardware duplication, and brain drain due to the resulting burnout.
    The Helpdesk has been hopelessly incompetent, essentially asking the caller to solve their own issue before the Helpdesk personnel do anything at all. Current Helpdesk phone wait time is typically over 40 minutes, after which they seldom are able to resolve any issue.
    Reports of these problems go up the management chain and disappear, never to be resolved, perhaps because fixing it would require that the IBM outsource be recognized as a mistake.

    Advice to ManagementAdvice

    Fire any SVPs and above who advocated the disastrous IBM support outsourcing.

    Doesn't Recommend
    Neutral Outlook
  11. 3 people found this helpful  

    WHY WORK HERE WHEN LAYOFFS CONTINUE?

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

    I worked at State Street full-time

    Pros

    Unless you are completely horrible at your job you can survive awhile.

    Cons

    Too many to list, at the top would be low job security in Massachusetts. The economy is thriving, jobs are being added everywhere but they continue to pink slip workers to save a buck here and there. Do you really want to work at a company that doesn't value the people who make it? God help those workers next time the economy heads South, it will be a bloodbath at State Street.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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