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2 people found this helpful  

Great experience but current direction is troubling

  • Comp & Benefits
  • Work/Life Balance
  • Senior Management
  • Culture & Values
  • Career Opportunities
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)

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 ManagementAdvice

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.

Doesn't Recommend
Neutral Outlook
Approves of CEO

1324 Other Employee Reviews for State Street (View Most Recent)

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  1.  

    There are better places to work and there are worse places to work...

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

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

    Pros

    Work/life balance is addequate. It seems to depend on the group/function however. Some groups are very flexible while others are very rigid.

    Cons

    The size and the lack of consideration for the employees. Constant fear of the potential for offshoring functions. The employee rating system is political and not truly based on performance.

    Neutral Outlook
    No opinion of CEO
  2.  

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    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 an year)

    Pros

    Work hours is stable. Working atmosphere is nice.

    Cons

    Low pay. A bit boring.

    Recommends
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