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

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IT Subject Matter Expertise - gone soon

  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Application Developer in Quincy, MA
Current Employee - Application Developer in Quincy, MA
Doesn't Recommend
Negative Outlook
Disapproves of CEO

I have been working at State Street full-time (More than 10 years)

Pros

Excelent work-life balance, depending on manager. Supportive and kind co-workers.

Cons

Continuously looming layoffs with not enough communication from management. Very Low morale. Bleak future outlook.

Advice to Management

Rethink the 'Strategic Partering' cost-saving idea, as the service and quality to clients is suffering. The subject matter expertise and critical thinking/analysis skills gained by experienced SSC employees over the course of their tenure here - and required in order to maintain top-notch service on complex functionality - have not been captured in the skills transfer to our strategic partners. Poor skills transformation model: complicated tasks and complex functions performed by several experienced SSC employees have been transferred to a single Wipro employee who is overloaded and at risk for errors. Performance, quality, and the company's reputation are at risk.

Other Employee Reviews for State Street

  1. Helpful (1)

    No real world accounting; all data entry

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accountant Associate II in Kansas City, MO
    Current Employee - Fund Accountant Associate II in Kansas City, MO
    Doesn't Recommend
    Positive Outlook
    Approves of CEO

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

    Pros

    Benefits No brain power needed Friendly co-workers

    Cons

    No actual accounting No brain power needed No one takes accountability of what should be done

    Advice to Management

    Share knowledge and get the people below you involved in decision making. If you want to grow in the future find ways to keep the current employees you have. Too much turn-over and management has favorites based on how much time they spend with someone. You need to look at the people who actually will put the work in no matter what.


  2. Helpful (1)

    Conservative and Complacent

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Intern - Global Services Intern in Boston, MA
    Former Intern - Global Services Intern in Boston, MA
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    The SSGS team is very kind. Personally, I received a good amount of work that really added value. I felt as though I was a valuable part of the team and that I wasn't just being paid to sit and twiddle my thumbs. Most of my other intern friends can't say the same. The atmosphere is really relaxed, and my team was very helpful.

    Cons

    As a whole, I got the feeling that although State Street wants to become a more innovative company, its culture is still very conservative. Its younger crowd is ready for change, but it seems the older generation is very complacent with old processes because they work. It is recognized that there is an obvious need for change and modernization to keep up with the moving market, but the main problem standing in the way of improvement is the acknowledgement that there are many barriers, and the cautionary steps taken rather than the determination to move forward despite all obstacles.

    Advice to Management

    I think you should listen to the new recruits more. Recent graduates are taking many courses that can really add value in regards to a fast growing, changing market. Just because it works, doesn't mean it can't be better. Strive for better and faster.


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

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