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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. Few opportunities for growth

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

    I worked at State Street full-time (More than a year)

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

    Pros

    The company provides very good benefits.

    Cons

    Employees are not satisfied with their responsibilities, some managers do not know how to manage teams, and there are few opportunities for employees in entry level positions to move up.


  2. Helpful (1)

    Good first time job out of college. Not something to do for more than a year max.

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

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

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    It's extremely easy and doesn't take much skill. You can quickly learn how to do most things and there are no real decisions made on your part.

    Cons

    Doing the same monotonous tasks everyday is a drag and is an insult to your education experience. Anyone can do this job who has the most basic of computer knowledge.

    Advice to Management

    Challenge your employees and make the work atmosphere less robotic.


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

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