There are newer employer reviews for State Street

6 people found this helpful  

Waiting for State Street to change for the better..could take awhile

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

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

Pros

Locations close to public transportation
Work from home access but needs to be approved in advance

Cons

Culture has become outsource, outsource, outsource
Lack of proper training programs..mostly online training that's not really job related
Work is being outsourced to departments that make errors and don't take responsibility
Lack of career roadmap..To advance, it's based on being buddy-buddy with management and talking about sports rather than being based on an individual's credentials
Low salary compared to competitors
Annual reviews/raises aren't based on employee performance but a mathematical formula based on employee's annual earnings..If your salary is too low based on the company's mathematical equation, most likely you wil receive little or no raise
Raises for 2012 nonexistent except for upper management..Bonuses not as much as the past
Reward system was discontinued with nothing to replace it
Employee feedback isn't taken seriously

Advice to ManagementAdvice

Don't blame managers for the company not handing out raises...Hard work goes unnoticed..If employees were appreciated more and paid fairly compared to other companies, maybe there wouldn't be so much employee turnover.Listen to the employees that are keeping the company afloat rather than force change and ideas upon them that are unproven and untested

Doesn't Recommend
Negative Outlook
Disapproves of CEO

1314 Other Employee Reviews for State Street (View Most Recent)

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  1. 1 person found this helpful  

    Real corporate

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at State Street

    Pros

    Easy hours,flexible telecommute policy. Light workloads

    Cons

    Career growth is slow. Don't expect to learn much.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2. 2 people found this helpful  

    It is what you make of it...

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

    I worked at State Street full-time (more than an year)

    Pros

    Good introduction to the investment industry if you can not get right into trading or research

    Cons

    Stay to long and you get labeled a back office employee for life. Have to push yourself to make the next move if you don't see yourself in back office for the rest of your life.

    Recommends
    Neutral Outlook
    No opinion of CEO
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