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1 person found this helpful  

Boring

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

I worked at State Street as an intern for less than a year

Pros

Something to put on the resume.

Cons

Was not given much to do on a daily basis. Didn't have any interest in Fund Accounting.

Doesn't Recommend
Neutral Outlook
Approves of CEO

1281 Other Employee Reviews for State Street (View Most Recent)

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  1. 4 people found this helpful  

    NOT a place to build a rewarding and lucrative career.

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

    I have been working at State Street full-time for more than 3 years

    Pros

    They'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.

    Cons

    Pay: 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 ManagementAdvice

    Start 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?

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  2.  

    GS Manager

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

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

    Pros

    Little room for growth, poor communication, knowledge is not shared when new staff enter a team, hard to convince your peers to do additional work

    Cons

    Great starting job, good benefits

    Advice to ManagementAdvice

    Be aware of surroundings and pull your weight

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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