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
Rating Trends

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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. 2 people found this helpful  

    Officer

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

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

    Pros

    9AM to 5PM job.May be a good start for a fresher (out of collage)

    Cons

    Worst working environment. IT people does not get promotion or salary increase. Company pays below market rate for IT people.

    Advice to ManagementAdvice

    Share the money that you make to the lowest level employee too. No use of just having the company share only to SVP's and above. Pls understand the word compensation and apply to IT department as well.

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

    Intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Fund Accountant, Associate I in Quincy, MA
    Current Employee - Fund Accountant, Associate I in Quincy, MA

    I have been working at State Street as an intern (less than an year)

    Pros

    No pros, good for 18-21 year olds

    Cons

    longs hours, managers yell and scream, they don't want to pay over time, keep changing the over time rules so they don't have to pay no, you barely get to eat lunch or take coffee breaks. they train their friends and who they want to promote. They are outsourcing big time sending everything to Syntel and HCL in India.

    Advice to ManagementAdvice

    Reviews on here are written by people who work in public relations, they are writing fake good reviews to make up for all the bad ones.

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

    Noone is indispensable

    • 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

    The only one I can think of is the ability to work from home

    Cons

    Only care about stockholders. Do not care about making employees feel valuable. Upper Management is never in the know. Senior Management only care about themselves. The people that do the most work are treated the worst (low men on the totem pole). Layoffs frequently, never sure if you will be next.

    Advice to ManagementAdvice

    Instead of taking everthing away from employees, how about giving them something other than the feeling of being afraid of losing their job.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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  5. 4 people found this helpful  

    Associate 2 Fund Accountant/ Adminstrator

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

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

    Pros

    None, seriously if you have no other job opportunities or just need some money that should be the only reason you work there.

    Cons

    Leadership does not care about you. They just want the job done. You never really understand what you are doing. You have to scrape at a few nice people still there to help you with anything. The whole company is design to do the bare minimum without the clients getting upset. Many of the employees who work there are extremely rude and completely unprofessional. Benefits every year get cut. Your bonus is a joke, if you get one... even if the S&P has risen 30% and business is up.

    Advice to ManagementAdvice

    Stop screwing over your employees. If you want top talent, leadership, and innovation your going to have to attract it. Empower your employees, make sure they actually understand what they are doing. Cut the fat, and reward the best. Stop cutting benefits.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6. 4 people found this helpful  

    AVOID AT ALL COSTS

    • 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

    Pros

    Work life balance? I'm really at a loss of words for this place......if you have any ambition whatsoever, do not even considering applying here.

    Cons

    No growth, low pay, inept managers, ZERO motivation. This is where careers go to die a slow, painful death. Oh, your job will likely be outsourced and you fired - after you train your replacement.

    Advice to ManagementAdvice

    Start over.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 6 people found this helpful  

    Taking this job was a horrible mistake.

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

    I have been working at State Street full-time

    Pros

    Casual Friday
    Benefits
    Work / Life Balance

    Cons

    There are so many things wrong with State Street.

    1. A starting salary of $32,000 is abysmally low. My friend's manager has been with the company for 12ish years and is stuck just above $50,000.

    2. The training is a mixed bag. The in class training you receive when you start is actually very well done, and taught by very capable teachers. Unfortunately, it hardly prepares you for the floor. Training on the floor is downright horrendous. You'll be taught one thing, and then five minutes later they'll change their procedures and tell you you're doing it wrong. Furthermore, many of the employees don't have accounting backgrounds so they know how to press the buttons but they can't really tell you what you're doing.

    3. Typical corporate douchebaggery.

    4. You don't get lunch breaks. You do when you start. Then they go away. Pretty sure that's illegal.

    Advice to ManagementAdvice

    I'll be collecting a few more paychecks, and then I'll be on my way. You suck, goodbye.

  8. 5 people found this helpful  

    Overworked, Mindless data entry, paid like yesterdays trash.

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

    I have been working at State Street full-time (less than an year)

    Pros

    Good health and dental.
    Friendly coworkers.

    Cons

    -Was trained for two weeks on pointless corporate talking points then thrown to the wolves and had the job responsibilities of three people.
    -Pay was terrible
    -Your job is always several months away from going to India

    Advice to ManagementAdvice

    Well your company is making money so obviously outsourcing jobs to India and paying overqualified people to the jobs you haven't outsourced yet is working!

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  9. 3 people found this helpful  

    Buyer Beware

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

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

    Pros

    Flexible work arrangements and at will employment so you can leave

    Cons

    No upward mobility; horrible compensation (not anywhere near on par with industry); weak management team with no direction; toxic culture (point and blame); no acountability

    Advice to ManagementAdvice

    Change the culture; involve more employees; distribute "wealth" to the people actually doing the work (e.g., VPs and less senior SVPs) rather than just at the top of the house (long tenured SVPs and EVPs)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 1 person found this helpful  

    Bad company to work for--disrespected and unappreciated

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

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

    Pros

    Good co-workers (generally)
    Convenient locations
    Large company with lots of growth/transfers

    Cons

    Lots of overtime
    Low starting pay
    Very linear, repetitive job
    Complete disregard to your well being
    A normal case of a big company not caring about its smaller employees, toss you around and you can't fight back
    Extremely private company
    The environment isn't relationship friendly--they want you to work like ants and don't want you to make friends

    Advice to ManagementAdvice

    Respect/build relationships with your employees more so that they will want to work harder
    Stop treating employees as threats and more like people
    Trust your employees

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11. 4 people found this helpful  

    Full of flaws

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

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

    Pros

    Coffee machines
    Casual dress everyday at Sacramento office
    Relatively easy to get hired right out of college

    Cons

    Low pay
    Boring, meaningless, repetitive work
    Upper management doesn't care about fostering growth amongst employees
    Extremely high turnover
    Absolutely no reason to stay longer than a year

    Advice to ManagementAdvice

    Pay higher salaries to reduce turnover. Make it a point to let employees know what exactly their tasks are accomplishing. Most people leave for better positions once they completed their CFAs, CPAs, and MBAs.

    Doesn't Recommend

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