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Helpful (2)

Great experience but current direction is troubling

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

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

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

Pros

I've been there average amount of years and experience has been mostly positive. Bonus is good, benefits are about average for a financial company but above average overall. There is a good amount of mentoring and other programs available to employees. Flex work schedule is a great benefit as well.

Cons

As IT employee, current direction to outsource almost all IT functions to IBM India is questionable. There is probably a good strategic reason for it at executive management level but I just don't see company saving any money over it, and IBM India resources are not on par with average former State Street internal IT resources. If it takes 4 times a long for outsourced resource to do same job as US/UK local resource for 1/2 the cost - price to performance benefits are not being realized.

Transition to IBM has created a condition where people with most experience and knowledge of the environment left or are leaving and IBM does not offer sufficient resources at the right level to pick up the workload.

I cannot speak for other business areas, but for IT professionals my advise is to stay away from State Street at this time.

Advice to Management

Try talking to IT people actually involved in transition to get a real sense of what's going on, instead of being satisfied with 1,000 ft ivory tower view.

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  1. So Far So Good. Easy to get hire. People are nice.

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

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

    Recommends
    Recommends

    Pros

    Work hours is stable. Working atmosphere is nice.

    Cons

    Low pay. A bit boring.


  2. Helpful (1)

    Global expertise and reach, suffering from parochialism

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

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

    Negative Outlook
    No opinion of CEO
    Negative Outlook
    No opinion of CEO

    Pros

    As a bank of banks, depth and breadth of capital markets experience is unlimited. State Street's global reach and market leading support for it's clientele allows for economies of scale, rapid innovation and indepth expertise. It's products and services are market leaders and are rated at or near the top of their classes

    Cons

    State Street suffers the typical organizational ailments, organizational silos, regulatory pressure and the neverending pogroms to improve operational leverage. Restructuring, transformation and global resourcing are the current manamgement consultant recommendations du jour

    Advice to Management

    Operartional improvements can only succeed with employee engagement, spend more time building up employee morale and engagement


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

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