State Street Reviews in Boston, MA Area

Pros

Good work environment and excellent growth opportunities.

Cons

Lack of formal training for temporary staff

Pros

consistant pay check, job security

Cons

doesn't pay great, so many people you can get lost in the shuffle

Pros

They keep you busy and the days go by fast; peers seemed to be okay to work with, not really cut-throat

Cons

Managements puts very high pressure on first-line managers. I would say it's the most thankless level of position in the company. You need to either be the entry level or move to fund manager position quickly

Advice to Senior Management

Continue to do a great job with work-life balance, such as offering 4 10-hour work weeks, job share opportunities and others.

Pros

experience, looks good on your resume

Cons

no opportunity for growth, i have been on a contract for 4 1/2 years and still no chance of getting a full time position in this company.

Pros

They do have very good benefits (401k, healthcare, etc.). A lot of younger people makes for an enjoyable work environment.

Cons

This job really got progressively miserable to a point where I just quit after a year. Once I realized what I was doing, how there is little room for advancement, and was just a cog in the wheel for 32k a year I lost all motivation. I really wanted to like this job and was so excited to get my first "real world" job but do not take this even as a last option. I can honestly say about 90% of the people I worked with were trying to get out or were thinking about quitting. I learned very little applicable skills and pretty much have to embellish my resume to make this job seem legitimate. They also have some development program where they hire kids 1 year out of high school after some one year program and you are expected to work for the same pay while they are not ready, qualified or mature enough for the setting, its so deflating. One of the worst things too is people who have never worked for SS think its a great job "you must be doing well!". Quitting was the best thing I've done there. I know I sound like a very jaded former employee, but if you are at all smart or ambitious, do not work entry level at this company.

Advice to Senior Management

Trim the fat, stop carrying dead weight people and having the hard workers subsidize their work, you could employ less people and pay everyone a bit more. Give actual year-end/mid-year reviews, not generic lines and joke raises/bonus's. Recognize the people who work hard. Encourage lateral movement to other departments.

Pros

Good benefits package - some great people with knowledge who are willing to mentor

Cons

too much useless middle management, hard work does not get promotions, high turnover due to low pay and morale

Advice to Senior Management

incorporate and encourage consistent feedback and communication from management so employees know they are being recognized and appreciated

Pros

Very understanding of work/life balance

Cons

The pay is well belo market value

Advice to Senior Management

Give your employees more pay

Pros

Gained Excel Experience
Great place to get your feet wet
Great Benefits

Cons

Downsizing. Faced several layoffs.
Value out of college grads but become reluctant to elevate.

Advice to Senior Management

Productivity could be increased by shortening the corporate ladder.

Pros

- Good career advancement opportunities
- Flexible hours and worklife promoted
- Good people to work with
- technology positive (although wtih 850 announced layoffs...)

Cons

The company has undergone a significant change these past few years. The State Street of old is no longer, as it is now all about off-shoring core functions and doing more with less. While not a bad goal for stock-holders who enjoy nice quarterly returns, there is no clear path and everybody is nervous now about their own skin. Far cry from the "open door" and collaborative philosophies under Marsh Carter. Now it is all about expense control and zero-loss tolerance, even though the management practices and constant change / off-shoring / team shake-ups and "business transformation" directly challenges those goals.

Advice to Senior Management

Take a second, breath and let the 32,000 employees catch up to your grand design. Or, at a minimum, clearly set a goal and allow folks to achieve. I'm a middle manager and readily admit there is way too much middle management, particularly connected folks in the companies that are acquired. Don't be afraid to purge those who need to be purged as opposed to those whom they "don't like."

Pros

good learning expierence, job growth, great training

Cons

poor management, poor communication, much middle management

Advice to Senior Management

none