State Street Reviews

Updated July 29, 2015
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3.0
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State Street President and CEO Joseph L. Hooley
Joseph L. Hooley
245 Ratings

Pros
  • Flex work program allowing for good work/life balance (in 132 reviews)

  • The only one I can think of is the ability to work from home (in 65 reviews)

Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 42 reviews)

  • High turnover due to long hours (in 57 reviews)

More Pros and Cons

688 Employee Reviews

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  1. Featured Review

    Great Entry-Level Job

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Functional Specialist in Boston, MA
    Current Employee - Functional Specialist in Boston, MA

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Grasping all the job responsibilities in one week is doable by taking notes and asking questions. Every day the job is pretty much the same, so you would naturally get faster and faster at it. Lots of interesting web-based and classroom classes for free, so if there is a subject that you need to brush up on - they're perfect! The view of Boston and the harbor is breathtaking. Co-workers are extremely nice and friendly. I am looking forward to spending as many years as I can at this company.

    Cons

    When running into a few software issues, the IT help desk could take a really long time to solve your issue.


  2. Great place to work!

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

    I have been working at State Street full-time (More than 5 years)

    Recommends
    Positive Outlook
    Recommends
    Positive Outlook

    Pros

    Great people Challenging work, interesting clients Dynamic environment Great opportunities to move internally to other departments / divisions Flexible work options - work from home, remotely etc Fantastic community responsibility programs - employee networks, volunteering opportunities, can serve on boards, great contributions to non-profits etc

    Cons

    Poor salaries in comparison with market norms Promotion opportunities are only once a year, managers don't have control of bonus pools or can't reward / recognize high performing staff Leadership are constantly doing drastic cost cutting measures

    Advice to Management

    Stop the drastic cost cutting measures, insource IT as outsourcing has not worked


  3. Senior Associate

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

    I have been working at State Street (More than a year)

    Doesn't Recommend
    Disapproves of CEO
    Doesn't Recommend
    Disapproves of CEO

    Pros

    Life-work balance, internal opportunities, lots of free events.

    Cons

    Lower pay compared to industry average.


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  5. Good Place to Work

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

    I have been working at State Street

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Professional environment (at least where I am).

    Cons

    Long hours, weekends and littered with a lot of lazy people.


  6. Business Analyst

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

    I worked at State Street full-time (More than 3 years)

    Recommends
    Positive Outlook
    No opinion of CEO
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Great benefits. State Street promotes flex time which allows me to WFH once a week.

    Cons

    pay is low. bonus and merit increases is close to nothing.


  7. Analyst Intern

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

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Great place to intern, a lot of opportunity to lean about the company and what it does. Hours/compensation where fine. Working within a small group gave you the feel of working for a smaller company (Rather than just a number among the 30,000 associates).

    Cons

    More position specific. Interned during a period of global market instability. As a result my manager couldn't guide me as much as he or I would have liked to. This gave me the opportunity however to gain valuable hands on experience with different assignments and projects.

    Advice to Management

    Since the company is so large, an internship with solid rotational program would give candidates a better understanding of the organization and where they felt passionate about.


  8. Client Cash Associate I

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

    I have been working at State Street as an intern (More than a year)

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Competitive hourly pay. ($15/hr). Exposure of the insides of one of the biggest financial institutions in the world. Students can earn a decent wage while going to college learn new business skills.

    Cons

    Job is very repetitive, menial, and boring at times when there's nothing to do. Quiet office. Everyone seems awfully quiet, and awkward. Maybe they're introverts and I'm not. So good for introverts I guess.

    Advice to Management

    Have some incentives for the employees. There is literally no excitement. I cannot wait to leave this job once I get my bachelors degree. I am very thankful, but that's just what it's like in there.


  9. Multiple Positions

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

    I worked at State Street (More than 10 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    The majority of the managers cared about the employees and wanted to see the employees succeed.

    Cons

    The lack of time for training is an issues as often many employees have to begin working on their own before they are ready.

    Advice to Management

    Increase the time for training. Also, some managers take it out on employees when technology isn't functioning properly (for instance blaming employees when macros take longer to run than expected)


  10. Analyst

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

    I worked at State Street (More than a year)

    Doesn't Recommend
    Doesn't Recommend

    Pros

    Good brand name, nice people

    Cons

    Boring, tedious work. Pay below market


  11. Good Company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Tax Officer, Assistant Tax Manager in Malden, MA
    Current Employee - Tax Officer, Assistant Tax Manager in Malden, MA

    I have been working at State Street full-time (More than 3 years)

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Good work and life balance, internal system technology and regulatory accreditation of them allows efficiency in completion of the task.

    Cons

    Company prefers hire outside consultants and new employees instead of training and preparing current talents for the next level: difficult to move to the next level.

    Advice to Management

    Invest more in training the current employees instead of incur in additional costs and risks of hiring new employees.



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