State Street

  www.statestreet.com
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1291 Employee Reviews (View Most Recent)

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Stay away, if at all possible

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

Pros

- Laid back atmosphere
- Good mix of employees
- Good work/life balance, flexible scheduling
- Facilities are great

Cons

- They provide absolutely 0 incentive for talented individuals to stay on-board
- Work is about as mundane as it can possibly get
- Slowly devaluing their employees (lowering hiring requirements, decreasing salaries, making tasks as repetitive as possible)
- 90% of management is clueless, and the other 10% are powerless

Advice to ManagementAdvice

Turnover rate is extremely high for a reason, the company as a whole simply doesn't care about keeping talented individuals within the company. On the rare occasion management is able to spot talent, they are usually powerless to do anything about it. The work is extremely mundane and repetitive, so you have to be constantly moving between groups in order to not get burnt out quickly.

In the 3 years I've worked here, State Street has lowered hiring requirements from a bachelors to associates degree, lowered starting salaries by 10%, and revamped their business structure to be less client-facing and make things more of an assembly line function. Obviously this is their attempt at squeezing profits, but there has been a significant loss of talent recently because of it. Not to mention the pay to begin with isn't competitive at all.

Doesn't Recommend
Negative Outlook
Disapproves of CEO

Other reviews for State Street

  1.  

    Senior Tax Analyst

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

    Pros

    Capable analyst can get quality technical analysis experience which is instrumental to finding a better job with a better company. So if you are capable and motivated you cannot help but establish a quality resume in a couple years.

    Cons

    Company/group dynamics; imbalanced salary allocation; corporate culture; benefits & comp; they even got rid of the coffee makers and hot water! In better years I'd had better things to say but the reality is that there are gross imbances.

    Advice to ManagementAdvice

    None, they would not listen.

  2.  

    Good Start

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

    Pros

    Great experience in investment management and mutual funds fields

    Cons

    Salary is ridiculously low for this type of job and workload.

    Recommends
    Positive Outlook
    No opinion of CEO
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