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Can I please have those 3 years of my life back

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

I worked at State Street full-time (more than 3 years)

Pros

Entry level position of a mutual fund accountant is fairly easy to get and provides a good foundation for experience in the industry

Cons

It is completely luck whether you get a disgruntled manager or not. I have had 3 different ones within the company and only 1 was good, the other 2 made the job unbearable. It's not somewhere where people care that they work, it's somewhere where you end up realizing you should move on from. I can tell you, you will print out about a forest worth of paper over your career and consequentially set it aside in a box where it will sit. They will climb the walls of the office and storage rooms and eventually be taken away. Most days I often thought I was making someone a good chunk of money with all the derivatives and options I would book, but it was merely at my own expense.

Advice to ManagementAdvice

Do not pretend to be a manager until you know how to do every fund in the group that you are managing.

Doesn't Recommend
Neutral Outlook
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  1. IT Subject Matter Expertise - gone soon

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

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. Good place to gain experience or retire!

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Business Analyst in Irvine, CA
    Former Employee - Business Analyst in Irvine, CA

    I worked at State Street full-time (more than 8 years)

    Pros

    Good entry level place to get experience. Good place to retire if you have no ambition and don't care about career growth.

    Cons

    Salary increases are pathetic. No opportunities for growth. Management is always looking to give you a rating of 3 or less so they can avoid paying you a decent compensation increase. If you are liked by your manager, you get flexible work at home. If you not liked by management, you have to come to work.
    Like to outsource to India, then hire the FTE's back as temp assignments at lower pay and no benefits when outsourcing fails! Pathetic...

    Advice to ManagementAdvice

    How's outsourcing to India going? Guess you got your fat bonuses eh? Can't believe PIMCO is paying for this pathetic mess.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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