State Street

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Great work - life balance; beware of politics

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

Pros

Work - life balance, benefits are good.

Cons

Internal promotions add 10% to your base at the most.

Recommends
Neutral Outlook
No opinion of CEO

Other reviews for State Street

  1.  

    Fast Paced with lots of OT

    • 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

    Pros

    I got this job straight out of college and I learned a ton because I was working 60+ hours per week. Pay was okay and with overtime I was make quite a bit of money for a recent college grad, which was nice. Definitely learned how to deal with a stressful work environment quickly.

    Cons

    Overtime was excessive at times with little appreciation from management. Work could be repetitive with very little focus on improving efficiency. People tend to stay there a year or two and then move on to something with a better work life balance.

    Doesn't Recommend
    Neutral Outlook
  2. 1 person found this helpful  

    Someday I will be glad that I worked here.

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

    Pros

    - Fairly easy to get in to the company (especially to Fund Accounting), and internal moves are common, though you have to be very quick and decisive to act in order to get them. Great as a first employer post-graduation as long as you don't stay too long.
    - Once you get above the Associate 2 level things improve dramatically (other than no longer being paid overtime). Suggestions that would have been dismissed out of hand from an A2 are taken seriously from a Sr. Associate, micromanagement (usually) decreases significantly, and people generally stop assuming you are an idiot.

    Cons

    - Internal communication, both within the group and between different areas of the company, is dismal. Allegedly we are all working towards the same goals, but nobody seems to act like it.
    - Kiss-up/kick-down culture permeates the company, especially Officer and above, and people act surprised that the Associate level employees keep leaving due to being berated after consistently working 70+ hours a week. This also shows up between different groups, when titles are officially the same but one group is able to claim high ground due to "the client says...".
    - Micromanagement of lower-level employees is excessive. If an employee says something will be done in an hour, and you make them spend 15 minutes of that hour giving status updates on it, of course it's not going to be done. There is no magic work fairy that continues working while the employee answers your 7 phone calls, 4 emails and 3 cubicle visits.
    - Work/life balance, while great in certain groups (particularly for officers and up), is virtually nonexistent in my group. Unless of course one takes work/life balance to mean spending 84 hours in the office and 84 hours outside of it per week. Perfectly balanced!

    Advice to ManagementAdvice

    Just because you pay your Associate level employees overtime does not mean that you should expect them to be able to work 80+ hours every week with no prior warning. That is lazy management.

    Also, please do not bury layoff announcements in the middle of a paragraphs near the end of the fourth quarter earnings announcement. If hundreds of people are going to be losing jobs, the least you can do is be up front about it.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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