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

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Helpful (1)

Not the worst job, but far from the best

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

I have been working at State Street full-time (More than 5 years)

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

Pros

The insurance is good. Good amount of vacation. Finally starting to make strides to improve quality of life. Strong push to work from home.

Cons

Usually have to work long hours. There is low pay for lower levels. No OT for Higher levels. High turnover and constant changes which makes it difficult to improve worklife.

Advice to Management

Need more rewards and recognition

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  1. Helpful (1)

    Just a job

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

    I have been working at State Street full-time (More than 8 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Offices close to public transportation..Not too many pros here..Basically that's it folks

    Cons

    Annual reviews are sort of a joke..Employees need to justify why they are deserving of the miniscule raise the company is thinking of handing out..VP's take credit for the departments' success even though most of the time they aren't involved in making the department successful..They get upwards of a 20% raise while the ones doing the actual work have to scrounge to get a measly 3% Cash incentives have been talked about for years and haven't evolved..Now there is no reward system in place..Employees don't get recognized for their hard work Jobs are being dumbed down because of business transformation/restructuring/COE's..If you decide to leave the company and go to a competitor, you won't be as much value as before since you've been pigeonholed into a silo role at State Street..State Street is gradually laying off employees who know their jobs and do it well to hire outsiders who don't know anything so they will work for cheap money..Outsourcing to India/outsiders has become the company's culture in an attempt to increase the bottom line..Company has become a big assembly line process..Hello! You aren't building a car guys! You're handling money/investments for businesses! It's not what you know at the company..It's more of who you know..They would rather hire someone dirt cheap with no qualifications than hire someone from within who knows the job There's not alot of internal promotions with the COE model since you'd move to a group where you would start at the bottom until you learn that job function..After a year, you may have a chance to advance but it probably won't happen..To advance and get the job position you want, you would need to have a recommendation from someone with authority..The COE model hinders knowing the whole mutual fund process

    Advice to Management

    Management's major mistake was hiring efficiency experts (consultants) to determine the future of State Street's operations..hence the COE/business transformation was initiated..Once you hand decision making to someone else, you've lost control of your company..It's too late to turn things around now..The company's future has now been predetermined


  2. Great work life but very low pay

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

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

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

    Pros

    - Work life is great - Depending on your team, atmosphere is great - Generally young staff which is great for networking

    Cons

    - Can be very dull and mundane - Low Salary - Depending on your team, atmosphere can be horrible

    Advice to Management

    Turn over is very high, everyone who works there is looking for other jobs. To keep quality and hard working employees - increase wages.


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

See Most Recent

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