State Street

  www.statestreet.com
  www.statestreet.com
There are newer employer reviews for State Street

 

A good place to stay 3-5 years

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

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

Pros

There is room to grow through internal movement, but you have to be aggressive about it. You need to move around business areas and not within team to really become valuable and learn more skills otherwise it will be difficult to market yourself to other companies.

Cons

Terrible pay increases when you move internally. You have to leave after 3-5 years to really move ahead and get comprable market pay.

Advice to ManagementAdvice

Conduct more frequent market analysis on pay. Get rid of the ceiling for internal movement for completely new job functions.

Recommends
Neutral Outlook
No opinion of CEO

1390 Other Employee Reviews for State Street (View Most Recent)

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  1.  

    Lip-service to innovation, but comes up short

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

    I have been working at State Street full-time (more than an year)

    Pros

    - Lack of a face-time culture: You get your work done, then you're free to leave.
    - Low expectations: Expect to be treated like a genius if you can use a pivot table
    - Amicable people and young, hip staff
    - Lots of opportunities for training and development
    - Nice facilities
    - Lots of social clubs and opportunities to network

    Cons

    - Level of technological savvy is alarmingly low for a company so dependent on systems; especially among AVP+ level staff, but really true across-the-board
    - Production is king: Think of this as being an assembly line or a glorified sweat-shop; Any and all time spent on process improvements is simply not rewarded
    - There is no real push, at any level, for us to work better, faster and more efficiently unless something totally blows up and costs the bank money. Proactive, long-term thinking is notably absent.
    - Local management-level communication of strategic direction is poor; expect to be treated like a mushroom
    - "Churn and burn" culture; one HR manager told me that ~30% of new hires are expected to leave or be fired
    - "Meat-head" culture; conversations are ~90% about sports; aspiration toward higher education is treated with suspicion
    - Work is rather tedious, but at the same time medium-high stress

    Advice to ManagementAdvice

    - Provide innovation incentives
    - You over-use Excel; train and encourage your staff to use other tools to tackle problems

    Recommends
    Negative Outlook
    Approves of CEO
  2.  

    Definitely a great experience for an internship as long as you push to do more than assigned

    Former Employee - Financial Specialist in Sacramento, CA
    Former Employee - Financial Specialist in Sacramento, CA

    I worked at State Street as an intern (less than an year)

    Pros

    Friendly management, great opportunities to pursue other directions within company.

    Cons

    Day to day job can get a bit repetitive and not exciting. The pay is below average.

    Advice to ManagementAdvice

    Give better project opportunities.

There are newer employer reviews for State Street

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