State Street

www.statestreet.com
There are newer employer reviews for State Street

4 people found this helpful  

Unrewarding, both professionallly and in terms of compensation

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

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

Pros

1.) If you work in the right area you may be eligible for a Flexible Work Arrangement (Note: Those privileges are can removed from an entire department, without notice, as a form of communal punishment for operational losses within a separate area of the department)

2.) If you become CEO you will be the 3rd highest paid in the entire industry.

Cons

Talent Loss/Brain Drain is remarkably high at State Street. With little to no merit increases for employees over the past 7 years, attrition rates for talented employees are extremely high. The remaining lesser-skilled employees have been forced to work longer and harder to implement unrealistic cost savings plans (i.e. outsource their own jobs). As a result, moral among employees is terrifyingly low (crying at the desk, storming out of the building are not rare events) and operational losses seem to be occurring at unprecedented rates.

Advice to ManagementAdvice

If you care about your employees, your employees will care about you and your clients. In Jay's short time as CEO he has obliterated the loyalty of what was once the most loyal employee base in the industry.

Doesn't Recommend
Negative Outlook
Disapproves of CEO

1441 Other Employee Reviews for State Street (View Most Recent)

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  1.  

    Good entry level opportunities

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

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

    Pros

    -Multiple locations
    -Informative and helpful to newcomers
    -Biggest building in Boston
    -The job is changing every day
    -Lots of opportunities to grow within the company

    Cons

    -Salary is slightly lower than the market average but moving up is quick if you work hard
    and do a good job

    Advice to ManagementAdvice

    I think you guys do a great job of keeping things running smoothly and for the amount of employees there are I still feel significant.

    Recommends
    Neutral Outlook
    Approves of CEO
  2.  

    Intern

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

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

    Pros

    Good experience as an intern because got to see what it is like working in a business environment.

    Cons

    Seems like there isn't a lot of opportunities for growth.

    Advice to ManagementAdvice

    Have more rotational programs.

There are newer employer reviews for State Street

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