State Street

  www.statestreet.com
Work in HR? Unlock Free Profile

1223 Employee Reviews (View Most Recent)

Sort all reviews by: Date Rating
in
  • Culture & Values
  • Work/Life Balance
  • Senior Management
  • Comp & Benefits
  • Career Opportunities
  • Disapproves of CEO

4 people found this helpful  

NOT a place to build a rewarding and lucrative career.

Associate II (Current Employee)

ProsThey'll hire just about anyone and the work is very easy. Good place to earn a little money while you hunt for more legit jobs.

ConsPay: Consistently pays the lowest in the industry. Bonuses are a joke in good times (aka 2007). With a good rating, nice VPs, and a fully funded bonus pool you can expect about $1,300 pretax. Last year the good groups got $700 pretax. Raises are about 2% annually... yeah. You read that right, 2% of your measly 40k salary.

Job growth: They have a terrible promotional system. Rarely is hard work recognized. Many higher ups have no idea what goes on at the actual work level and do their best to ignore work distribution.

Benefits: They used to be good but the company is constantly cutting them to save money. Now they are just like any other company.

Culture: The company actively endorses a very sad culture. They spend enormous resources saying that they care about your career and that they're always "attracting and retaining" the best talent but that's hardly ever the case. The company has a reputation of hiring everyone who just couldn't get a job anywhere else. They want you to be that worker who has no ambition and will work in the same job for 10+ years until they eventually lay you off and re-hire you at a fraction of your last pay. It's depressing how many people are ok with that.

Advice to Senior ManagementStart over. Rethink the whole strategy. Get some fresh thinking in there. The company is so badly entrenched with laughable HR policies that it has become a zombie bank. Most employees are unmotivated and perfectly content to just sit there on 40k a year and do the same thing over and over and over until they get laid off. The company has a reputation of hiring the lower tier candidates and paying below market average. All of the higher ups in ssga have either come from outside or left, worked somewhere else, then come back. Internal promotion to a good ssga position is actively blocked by HR. Do you really think that's a good way to attract and retain talent?

No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Easy work, terrible pay

    Fund Accountant (Current Employee) Boston, MA

    I have been working at State Street full-time for more than a year

    Pros: -Work is not strenuous -Great work/life balance with work from home -Benefits are above average -Working with the… Cons: -Pay is ridiculously low, with essentially no raises this year. -Repetitive button pushing in… No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company… More

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    6 people found this helpful  

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

    Associate II (Current Employee) Boston, MA

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

    Pros: Locations close to public transportation Work from home access but needs… 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… Advice to Senior Management: 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,… No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company… More

There are newer reviews on State Street.

Worked for State Street? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.