State Street Reviews

Pros

Excellent benefits and very casual.

Cons

Unmotivated workforce with very low pay.

Advice to Senior Management

Move up or move on.

Pros

The location is good and management is generally ok with flexible work arrangements.

Cons

Unfairness in compensation from one area to another.

Pros

Corporate Social Responsibility - justifiedly has a good reputation and awards - employees get 2 days off every year for volunteerism
Great people - strong management
Good employee networks and opportunities to get involved in non-operational activities

Cons

Difficult to navigate such a large and diverse company - hard to get opportunities to transfer to other areas of the business

Advice to Senior Management

More opportunities to rotate to other areas of the business, opportunities to take assignments in other locations - these would keep employees interested, as the operational roles are difficult to stay interested in long term

Pros

Big name in Custody and investment management, work environment OK, very nice colleagues, training program is good, good location of downtown offices

Cons

Poor salary and poor recognition for foreign workers, very bad senior management, lack of pride for this company, hard to internal transfer jobs

Pros

Very flexible working environment to be involved in

Cons

Sometimes it is uncertain what the direction of each department is

Advice to Senior Management

I have no advice to give

Pros

Flexible working hours and good traning

Cons

Not much advancement opportunity in the firm

Advice to Senior Management

Bee creative on rewarding top performers

Pros

Flexible with work/life
Young workforce
Easy to be promoted within

Cons

Low salaries
They hire a lot of incompetent people
Bad reputation in Boston because of fund accounting

Advice to Senior Management

By offering higher salaries, you'll be able to recruit smarter people and have a stronger reputation within financial services.

Pros

The people that work there are very knowledgeable at what they are doing and there are many areas that you can grow in.

Cons

The culture at State Street is a very structured company and doesn't allow a lot of room for creative ideas.

Advice to Senior Management

They should create more leadership programs that will engage more employees to learn how to grow up the ladder successfully.

Pros

The people. The staff consists mostly of entry level recent college graduates.

Cons

-Well below industry standard pay. Recently reduced for new hires as of 2011.
-Staff is massively overworked (12.5 hour days for the first 7 business days of the month)
-Inexperienced managers
-Very little room for promotion.
-Bonuses and raises over the last 4 years have been reduced to the point where employees feel disrespected to be even given one at all
-Work is not challenging at all. Could possibly be performed by a well trained chimp.

Advice to Senior Management

Please provide management training to new managers, and second level managers

Pros

People are young, Location, Health Benefits

Cons

Salary
Bonus
Education Level of Management - Most managers do not have an M.B.A. or B.S. from repuatable university. Many individuals become manager due to date of hire. Managers are employees whom have worked at State Street longer then me.

Advice to Senior Management

They should try to retain those with M.B.A. and let those who do not have potential to become VP or higher go. Job is repetitive which makes many people leave after 1 year.