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There are newer employer reviews for State Street

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Not the most interesting work and not good pay

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

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

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

Pros

Easy laid back atmosphere which was good

Cons

Not the most interesting work

Advice to Management

More advancement

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  1. Helpful (2)

    Good place to build a career once you get past the lower levels.

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

    I worked at State Street full-time (More than 8 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    True meritocracy. If you add value to the company you will be rewarded and advance. Most Vice Presidents and above are good, but obviously not all. If you are good with people and managing internal relationships you can be very successful.

    Cons

    Difficult to advance from the very lower levels. Fairly stressful work especially as cost cutting hits the industry. Fair amount of politics as with any large organization.


  2. Helpful (1)

    A lot to learn, but a lot of non-value added work to be done

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

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

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    A lot to learn. You will learn about tax considerations/laws in many major markets, as well as the tax treaties between countries. If you haven't already done so in a prior position within the company, you will learn about withholding tax, tax reclaims, tax treaties, investment/fund types, and how all of these things will affect both custody and accounting on a daily basis.

    Cons

    Despite the fact that State Street is looking to be more "green," far too many teams/groups are still printing non-stop, all in order to create a "paper audit trail." Everything is saved electronically, yet there are rooms filled to the ceiling with paper. You will spend a fair amount of time filing said paper. Working in this position also makes you realize how inadequately trained many people are within the company. Part of my team's responsibility is to answer tax-related inquiries on a daily basis. It is discouraging to learn that many people throughout State Street have absolutely no concept of withholding tax and tax reclaim. There are many resources throughout the intranet that employees can use to research exceptions, yet many refuse to do so. There have been instances where first line managers, officers, and AVP level employees have sent inquiries to my team that could have been answered by simply taking a cusip and imputting it into an internal website.

    Advice to Management

    Get rid of the need to print everything. Also, employees that are senior-associate level and above should really know more about withholding tax than demonstrated. An introduction to withholding tax at the security level should be made mandatory, especially for 1st-line managers.


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

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