State Street Reviews

Pros

Good benefits
Flexible Work Options
Work location

Cons

Poor pay
Lack of recognition
Lack of direction

Advice to Senior Management

Too many chiefs. You need to cut some of middle management

Pros

The work environment is low stress. They provide good benefit options. The work hours are relatively flexible and managers work with you to schedule paid time off.

Cons

The compensation is far from competitive. An abundance of middle management crowds out promotion opportunities. Entry level jobs are being "dumbed" down and outsourced to India, so that State Street is able to hire people without degrees to do some of the work, and pay them even less.

Advice to Senior Management

I think Management should re-evaluate the compensation structure to prevent such high turnover and to retain talent within the organization.

Pros

friendly environment, relaxed atmosphere, nice offices

Cons

poor pay, meaningless work, do not feel valued

Advice to Senior Management

take time to teach FA's the bigger picture

Pros

Big organization with lots to learn

Cons

High risk, low reward and high turnover in certain department due to low salary

Pros

Young atmosphere/culture
great benefits
business casual dress code
friday is jeans day

Cons

boring work at a-1 level. dont have to use your brain for the most part
low pay

Pros

1. Work life balance - lot of a life and very little work.
2. Brand
3. Opportunity to self-learn from large organization

Cons

So many -
1. Poor management - no direction and hopeless communication
2. Negative motivation (lots of free time gives scope for useless gossip, spreading rumors, biased employee favoring, lack of recognition)
3. Silo groups, with little communication even within team members
4. No opportunity to grow either financially or intellectually
5. Very old school

Advice to Senior Management

Listen to your employee concerns/ideas/thoughts. World has changed and embrace open feedback and innovation by involving and collaborating with employees

Pros

1) High executive visibility within Enterprise Risk Management
2) Ability to understand company structure and business model
3) Friendly, competent people

Cons

1) State Street's bread and butter (investment servicing) is not very glamorous or exciting
2) Compensation is not very strong (e.g. I started my career there and had to leave the bank to get paid commensurate with my skills & experience)

Advice to Senior Management

1) Need to promote/pay top performers otherwise they will leave for greener pastures even if they like their work/colleagues
2) More focus on training/career path rather than putting all the onus on employees

Pros

- good benefits
- good treatment by management
- nice and friendly co-workers

Cons

- hiring freezes limit opportunities within the company
- promotion and pay increase freezes
- bad communication about decent opportunities in other areas
- bad internal politics, resistance from support units to go above and beyond in customer service, which makes working on projects with them very unpleasant
- lack of growth in certain businesses, as directed by senior management, which is very questionable
- the work is not that interesting, as it involves a lot of repeating tasks
- use of bad and faulty technology

Advice to Senior Management

- read the reviews on this website, it will give you plenty of information on what needs to be fixed
- manage support units better so they can provide better service to the business units
- reward the good business units by allowing them to expand their business
- decrease company bureaucracy
- get input from the affected employees before implementing large projects such as the IT transformation project
- in general, don't just talk about employee career growth and opportunities, but provide them when the employees ask for them

Pros

-good entry level positions: I was hired with no job experience or designation
-good benefits
-good people
-it seems to be difficult to be fired(see point below for unfair work levels)

Cons

-low pay
-promotion is based on seniority
-senior management continually promises promotion and that hard work is noticed but it isn't
-high turnover
-increasing workload + people quitting + hiring freeze = overworking existing employees
-senior management only cares about cutting cost by pressuring employees not to stay overtime to complete impossible amounts of work
-"flex time" marketed as "work life balance" but transparently only a way to avoid paying overtime
-unfairness in work levels: incompetent employees are given less work, more help and the same pay as equal level competent employees who are expected to perform at a higher level
-company has lots of events that are impossible for fund accountants to attend due to hours and workload

Advice to Senior Management

Please tell the truth to employees, anyone who has been here over 6 months can see right through the lies. We would rather here you say, "you will be promoted after working here for 2 years" than to be lied to and told that if we "keep up the good work" it will happen.

Pros

Flexibility. Work Life balance is great. good benefits

Cons

Too much outsourcing that is hurting morale here in Boston

Advice to Senior Management

Please keep Americans employed