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There are newer employer reviews for State Street

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Don't stay long

  • Work/Life Balance
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Associate in Boston, MA
Current Employee - Associate in Boston, MA
Doesn't Recommend
No opinion of CEO

Pros

safe job in laid back environment with possibility of work-life balance

Cons

Boring custodial work, low pay, culture values face time over innovation

Advice to Management

Many thick layers of middle management - too many VPs, AVPs, etc. Bureaucracy keeps things at a snails pace

Other Employee Reviews for State Street

  1. Helpful (1)

    For interns: completely unfulfilling in every way except pay.

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Undergraduate in Quincy, MA
    Former Employee - Undergraduate in Quincy, MA
    Doesn't Recommend
    No opinion of CEO

    Pros

    I was an intern so my experience is highly different than most posting a review. This essentially for interns who may be looking to get info. The best reason to work at state street as an intern is that compensation is fairly decent (not compared to accounting firms btw). They hire alot of interns so there's a chance you will meet them and really enjoy their company. Another good thing about state street is the people. I really thought my co workers were hilarious.

    Cons

    Company culture was just horrible. Everyone hated their jobs and no one had any kind of passion for the work. I felt like I walked into to death every morning in terms of morale. Internship program itself was a bit lame, a few workshops were haphazardly thrown together. Unlike many MANY other internship programs there were no enticing perks which is why turnover even in the internship program is so damn high. Not to sound like an entitled Millenial but State Street needed to work on making the interns feel special. In terms of work I can speak for many other interns and say that most were given nothing to do at all and spent the day looking for something only to be turned down. They were on Meebo most of the time. Others like myself had the tedious work that you'd expect. Filing and processing corporate actions. I must admit I am biased towards disliking the work simply because this is the last thing I see myself doing. It's just boring typing numbers into a computer and to feel like a unrecognized bee in a hive. If you do not want to grow up and do this you're best bet is to find an internship that suits your interest and take a pay cut if need be. If someone gave me the option to work for the 520 a week at State Street again or work for free at a company and in an industry I've always wanted to be in I'd take unpaid anyday. AND NO I'm not rich enough to do that. Experience counts in the long run.

    Advice to Management

    Who is senior management...they never showed their face. I have no idea what they do day to day.


  2. Great place to gain experience but don't stay too long

    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President - IT in Boston, MA
    Current Employee - Vice President - IT in Boston, MA
    Recommends
    Approves of CEO

    Pros

    The benefits are good and the GA, GM and Securities Finance groups are the most desirable ones to join. Most of the jobs are stable until recently when the company strayed from their principles and ended up with riskier assets (off balance sheet financing, couduits, high yield funds by investing in toxic assets). There is an organized hirearchy which is both good and bad

    Cons

    Internal politics can be too constraining, the structured environment does not encourage quick results and outdated technology is in use for most part.

    Advice to Management

    The recent layoffs were a good way to get rid of bloated management but there is still lot of deadwood that can be safely removed and have greater cost savings.


There are newer employer reviews for State Street
There are newer employer reviews for State Street

See Most Recent

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