State Street Reviews

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.

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

The company always presents challenging situations and opportunities for growth. I have had a number of opportunities to travel around the world, expand my business knowledge and interact with people from other offices. I have been able to spend extended periods working out of overseas offices and I have even relocated abroad.

Cons

I work a lot of hours and my work is stressful. Sometimes it can become overwhelming and exhausting to make it through the week.

Pros

good learning expierence, job growth, great training

Cons

poor management, poor communication, much middle management

Advice to Senior Management

none

Pros

Work is easy and straight forward.

Cons

Management is incompetent and lazy

Advice to Senior Management

Levels of management need to be decreased.

Pros

Ability to take time off when needed and pretty good employee benefits. Generous 401k matching program but no 'pros' about the actual job.

Cons

Terrible place to work if you are looking to advance within the company. Good work/life balance, however, no recognition given to their best employees.

Advice to Senior Management

Be more appreciative to current employees instead of treating them like dirt.

Pros

Very good benefits.
Great locations to work at in Boston.

Cons

Hard to advance.
Very stringent and unnecessary rules on promotions.

Advice to Senior Management

HR should leave some flexibility to hiring managers when it comes to using the recruitment criteria on choosing between candidates.
More motivation events should be put in place for the employees, especially when it comes to Investment Services area of the company. Employees are not there only to service.