State Street

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

4 people found this helpful  

Acquired from Investors Bank and lasted 7 years before lay off

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

I worked at State Street full-time (more than 5 years)

Pros

Strong company. Many good people to work with. Growth potential in some business lines. A change agent personality will be a rock star here.

Cons

Staff reductions a constant thing since 2008. Challenges with the transition to more outsource partners.

Doesn't Recommend
Neutral Outlook
No opinion of CEO

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

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  1. 1 person found this helpful  

    good company to start after college, but long term opportunities limited.

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

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

    Pros

    good location and flexible work arrangments a pro

    Cons

    easy to get stuck in a department that doesnt promote.

    Advice to ManagementAdvice

    encourage more personal groth and reward for hard work.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 11 people found this helpful  

    Waste of life

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Director
    Former Employee - Director

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

    Pros

    outside of their ability to meet payroll every week, there is literally nothing good about this company. I used to really like the area of the city I worked in...then I was shipped off to a formerly abandoned lot in the badlands between the Convention Center and Southie (just to clarify--the new building IS NOT in the up-and-coming Seaport/Innovation District).

    Cons

    *Speaking for Global Services. Things may well be better in SSgA or GM, but I'll never find out, because......

    .......opportunities for movement out of GS to GM or GA is flat out discouraged, even after earning an MBA and CFA charter over the course of the past 5 years. Internal recruiters refuse to even return phone calls.
    -zero interest in investing in resources (tech or humans)
    -horrendous overall culture
    -absolutely incompetent management
    -scores and scores of professional meeting attenders. Over 6K VPs on the org chart, I would guess maybe 500 actually do work that leads to revenue generation.
    -All systems platforms are dated and counterintuitive
    -sales people routinely offer services to existing and new clients that the ops teams cannot support, because of resource constraints.
    -"not my job" culture. Unfortunately good people have taken on this attitude, because they have realized that doing more work will not result in higher compensation.

    I could go on all day, but I think I've wasted enough time on this garbage dump of a company

    Advice to ManagementAdvice

    This advice is targeted at the Board (obviously).

    Every member of the management team at the EVP level and above (including CEO) needs to be relieved of their duties ASAP. This team doesn't come close to having what it takes to lead the company into the future of the financial services industry. They talk a lot about change, and what needs to be done, but none of them do anything. Anytime something needs to get done they hire a consultancy to come in and attempt do it for them. My question to the leadership team would then be, "what exactly is it that you do, again?"

    Service business = people and tech support. Two things the company refuses to invest in. Keep on the current course, laying off the people who hold the company up while hanging on to the aforementioned conference room seat warmers, as well as artifically propping up the share price with astronomical buybacks, and there will a crater in the City of Boston where State Street Corp used to exist. I know where you'll be able to find some cheap real estate in the heart of the "Innovation District" (wink, wink).

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
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