State Street

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

 

Development mixed with infrastructure

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

I have been working at State Street full-time (more than 10 years)

Pros

working remote is a big plus

Cons

outsourcing leads to many headaches and long hours

Advice to ManagementAdvice

Start valuing employees

Doesn't Recommend
Positive Outlook
Disapproves of CEO

1390 Other Employee Reviews for State Street (View Most Recent)

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  1. 1 person found this helpful  

    Strong IT Community and high job satisfaction, but limited career mobility and salary increases.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Help Desk Analyst III in Quincy, MA
    Former Employee - Help Desk Analyst III in Quincy, MA

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

    Pros

    Many employees tend to stay there for a long time, which allows you to build up a great networking community and tribal knowledge. Employees are friendly, have good work ethics, and work hard. There are few bottom feeders at State Street. Most people, if asked, enjoy their job and are not burned out after working there for several years.

    Cons

    Upward mobility is limited and bonuses and raises have been minimal for years. If you are in IT, they recently made a strategic decision to outsource or layoff the majority of their staff. Career mobility has been limited for years, but now it is even worse. Those that were not outsourced or laid off have low morale, lost most of their connections and star performers, and are dealing mostly with other management or vendors that they have outsourced to. Vendors have lower service levels than most are used to, which can create high frustration.

    Advice to ManagementAdvice

    Outsourcing and laying off such a large portion of your IT staff at once will prove to be a strategic mistake. Although you may have short term gains on the bottom line and stock market, over the long term, you will regret this decision as you will lose business and these vendors and severance packages will cost you far more than you save. Your loyal staff that were true stakeholders had much more pride and were invested unlike your vendors. I agree that some groups could have been more streamlined or outsourced, but not to the extent that you cut. ROI is important, but with any financial cycles some quarters will be better than others. Statestreet should pay attention to shareholders, but gutting staff and continuously searching for waste that is not there every quarter will decimate morale and backfire. However, I and others enjoyed our long tenure at StateStreet and wish the company good luck. If you wish to attract more IT super stars, you will need to change your business practices and value your IT staff more highly.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    Enjoyed it

    • 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 full-time (more than 3 years)

    Pros

    Good People, Room to grow

    Cons

    Big company, Don't pay well

    Advice to ManagementAdvice

    Pay better

    Recommends
    Positive Outlook
    Approves of CEO
There are newer employer reviews for State Street

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