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Changing Environment

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

I have been working at State Street full-time (More than 3 years)

Recommends
Neutral Outlook
Approves of CEO
Recommends
Neutral Outlook
Approves of CEO

Pros

Global reach
Smart people
Good benefits
Plenty of mobility

Cons

New IT outsourcing making life difficult and progress slow.
Benefits are being cut year after year.
2nd year of pay-freeze for certain ranks and low merit for others
Layoffs occur every 6 months.

Advice to Management

Think long-term in regards to partnerships and personnel

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  1. Helpful (1)

    Fund Accounting = Brutal Experience, stay away, even if you're desperate, stay away.

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

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

    No opinion of CEO
    No opinion of CEO

    Pros

    Good name on the resume. I hear other departments other than Fund Accounting are excellent places to work, unfortunately I was stuck in Fund Accounting for a year.

    Cons

    -no transferable skills acquired
    -you learn very little
    -stay far away from Fund Accountant role, even if you are desperate for a job and get an offer from them as a Fund Accountant, keep looking for something elsewhere, it will be worth the wait.

    Advice to Management

    Take on less fund accountants and pay them more to do more work. the work is too spread out, i spent more than half of my day just staring at the computer screen.


  2. Helpful (2)

    Career crippling

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

    I worked at State Street full-time (More than 10 years)

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

    Pros

    This can be a great company to work for if you get in a well run department.

    Cons

    Some - not all - of management is promoted based on social status and not on merit or education. Layoffs and job outsourcing make any position with this company feel unstable.

    Advice to Management

    Listen to your employees, if there is a common complaint then it's best to take a closer look at what is really happening. Turning a blind eye will only hurt the company in the long run.


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

See Most Recent

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