State Street

  www.statestreet.com
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2 people found this helpful  

Avoid here

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

Pros

After working there for over a year and a half I really cannot think of any pros to write down about the company

Cons

Pay, Work environment, way too many temporary employees who they refuse to hire, moving everything to india, poor management, bad benefits

Doesn't Recommend
Neutral Outlook
Disapproves of CEO

Other reviews for State Street

  1. 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

    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
  2.  

    Job environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Software QA Engineer  in  Redwood City, CA
    Current Employee - Software QA Engineer in Redwood City, CA

    Pros

    Excellent team, competitive work, good salaries and benefits, nice location

    Cons

    The system is a bit complex as it involves the FX trading. It takes a little while to understand the system.

    Recommends
    Positive Outlook
    Approves of CEO
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