State Street Reviews

Pros

Training, financial services experience, and good benefits.

Cons

They could defintiely increase salaries.

Pros

They offer a decent benefit package.

Cons

This place will work you to death and just keep asking for more. No loyalty to tenured employees, no internal job advancement opportunities or mobility.

Advice to Senior Management

Quit making decisions that you are so far removed from....get a focus group of various job levels before making broad changes. How about you go on Undercover Boss?

Pros

Good opportunity to receive out of college, good people and leadership that helped guide a large operation that worked well

Cons

I was a large company with at time a lack of morale. A place where people were rarely excited to come to in the morning.

Advice to Senior Management

The management at state street was solid and did as much as they could do in the model in which they operate

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

Very understanding of work/life balance

Cons

The pay is well belo market value

Advice to Senior Management

Give your employees more pay

Pros

Easy job to do on a daily basis.

Cons

Boring and awful management that has no clue how the company works

Advice to Senior Management

hire competent people that can function in society

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

-Decent entry-level opportunities
-Great benefits and pension plan
-Volunteering opportunities
-Flexwork opportunities
-Easy promotion, up to a certain level
-Various classroom and online training available

Cons

-Unqualified management or with no leadership skills who micromanage the c**ap out of you
-Promotions based on the criteria "you've been here too long" which lead to my first point
-Terrible pay
-Never-ending overtime and lack of efficient planning and resource allocation to avoid it
-No recognition: management doesn't recognize your efforts/accomplishments/initiatives, yet are quick to indicate on your mistakes
-Pretty cheap with their employees: for an anniversary of the company, we received a chocolate bar, lollipop and a card with "Thank you"
-Offshore different duties/jobs, which makes the process either less qualitative, or harder to monitor
-Unfriendly, awkward people who just happen to work together

Advice to Senior Management

-Retain your talent: we are the most important asset that you have, and not your profit
-Offer more awards/incentives/thank-you's which would make your employees feel like they're valued
-Create solutions for never-ending overtime worked
-Make flexwork available not only to management, but people with good record in Associate I and II levels
-Be friendlier and nicer

Pros

* Flexible work hours scheduling
* Charitable contribution program gives 2 days a year for you to give to the community
* Potential opportunities to take jobs in other areas

Cons

* Leadership is non-existent
* Culture is very unfriendly
* Jobs are dumbed down
* Little recognition or positive feedback
* Constant fear of layoffs and jobs transferring offshore

Advice to Senior Management

Set a good example of what you want the company to be. If the example you are setting now is what you want to see in the future, you will lose all your good people - because this is not a rewarding place to work on many levels.

Pros

Good learning opportunity
Ok place to start your career
It depends on the group that you're in but generally not heavy on overtime like most firms

Cons

Terrible pay, terrible pay, terrible pay!
Turnover ratio is so high that the work is heavy on the employees that stayed

Advice to Senior Management

Pointless to say but better pay would increase the retention rate significantly. Paying less and training new people constantly might be just as costly.