State Street

  www.statestreet.com
  www.statestreet.com
There are newer employer reviews for State Street

 

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

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

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

1390 Other Employee Reviews for State Street (View Most Recent)

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  1.  

    Vice President in Mutual Fund Operations

    • 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 10 years)

    Pros

    Employees are energetic and respectful. Always willing to assist others and are managing thru the changing business requirements in a professional manner

    Cons

    Needs to be a higher focus on normalizing work hours to all employees to have a better Work Life Balance. Compensation and benefits continue to be reduced year over year.

    Advice to ManagementAdvice

    Improve Corporate Culture and work atmosphere

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    Great place to Intern!

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

    I worked at State Street as an intern (less than an year)

    Pros

    Great people, nice offices, helpful coworkers, good cafeteria, volunteer events, classes to help you improve your business skills, diversity

    Cons

    Layoffs - there were many empty desks at the time I was working, very large company, sometimes there is a lot of downtown between intern assignments,

    Recommends
    Neutral Outlook
    No opinion of CEO
There are newer employer reviews for State Street

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