State Street Reviews

Updated June 25, 2015
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115 Employee Reviews

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  1. Good starter job out of college

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accountant Associate II in Kansas City, MO
    Current Employee - Fund Accountant Associate II in Kansas City, MO

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

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    The people I work with are nice. Easy to move up the ladder.

    Cons

    The pay is too low

    Advice to Management

    Raise the pay and provide additional training whenever you ask someone to do something they haven't seen before.


  2. Helpful (2)

    I learned a lot but hated the work

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Summer Intern in Kansas City, MO
    Current Employee - Summer Intern in Kansas City, MO

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

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    Pros

    Very friendly people for the most part
    Flexible work schedules
    Easy to work way up the chain
    Great location

    Cons

    Very low pay
    Bottom employees easily replaced/ very high turnover
    Operate to serve clients every need no matter how large the task may be
    Full time employees pay for parking which is ridiculous
    Have to coordinate with joint venture in India who often make errors that must be fixed
    Work is very menial

    Advice to Management

    Increase salaries
    Offer more personal growth and leadership opportunities
    Value employees as much as clients


  3. Good Experience, Lots of Hours

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Kansas City, MO
    Current Employee - Anonymous Employee in Kansas City, MO

    I have been working at State Street full-time (More than 8 years)

    Recommends
    Neutral Outlook
    No opinion of CEO
    Recommends
    Neutral Outlook
    No opinion of CEO

    Pros

    Great industry experience, pay is competitive once you reach management. Good benefits package.

    Cons

    Once you reach management, you work a lot of hours, 10+ hrs a day + weekends.

    Advice to Management

    Can't always do more with less, invest in staff.


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  5. Helpful (6)

    Prior Associate 2 - Do not work here - Save Yourself

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate II in Kansas City, MO
    Former Employee - Associate II in Kansas City, MO

    I worked at State Street full-time (More than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    N/A
    -As my first job, it can only be up from here.

    Cons

    Working at this company was one of the worst experiences of my life.
    -The management has no idea how to manage.
    -I was painfully underpaid.
    -During my 2 weeks notice, I was treated disrespectfully, lied to, and the group did everything to make my life miserable.
    -Do not trust anything that this company has to say; it's all fake.
    -Degrees should not be required for the positions based on the pay and efforts.
    -Please do not make the same mistake that I did, as taking this job, while desperately seeking employment outside of college.
    -Managers did not know how to do my job as an Associate 2.
    -I was banned from taking PTO due to having no back-up.
    -I was limited on my time away from my desk, with 5 minute breaks max - as I couldn't possibly miss 1 call from a client.

    Advice to Management

    Gain integrity. Tell the truth about your current and past employees. Take responsibility when you've made mistakes; don't pin the blame always on others. Ultimately, it can't always be everyone else's fault.

    -Learn how to communicate, manage effectively so that you do not micromanage or discourage employees.


  6. Helpful (3)

    Sad and Disappointing

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Fund Administrator - Associate II in Kansas City, MO
    Former Employee - Fund Administrator - Associate II in Kansas City, MO

    I worked at State Street full-time (Less than a year)

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Nice people in HR and Training groups and co-workers were very nice. Company sponsored activities were fun and made the day to day work life enjoyable.

    Cons

    Most of my group quit just before I started and it didn't take long to figure out why. The departments are so segmented that it is difficult as a new employee to learn your job. I tried for almost a year and it was getting harder and harder to figure things out. I had so many managers that it was often confusing and they didn't seem to know their job either. State Street offered lots of training classes that would seem very useful while in the classroom, but then I would get back to my department only to be told "we don't do it that way" but then no instruction on how to "do it". There were endless checklists that we were required to sign off, most of which made sense only to the person who created them, and again no way to translate into non corporate lingo. I know I possessed the required intelligence to do my job as after all this is financial reporting and not rocket science but they were just unwilling to provide the tools.

    Advice to Management

    Be nice. Provide better training and encourage your employees rather than threaten them. We are all supposed to be on the same team.


  7. Helpful (2)

    Good starting company, most should leave after a year.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Associate in Kansas City, MO
    Current Employee - Senior Associate in Kansas City, MO

    I have been working at State Street part-time (More than 8 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Easy to get hired
    Good benefits
    Well known name(not always a plus)
    Does offer good work/life balance for some areas

    Cons

    Low pay
    Limited advancement
    Constant reorganization
    Poor management/infighting/lack of leadership
    Specialized business units result in newer employees never getting very good at their jobs, are forced to stay in one area.

    Advice to Management

    Offer better pay to retain talented people. Stop outsourcing as much, it is really starting to have a negative effect on client service. Promote teamwork, groups are now fighting with each other rather working together to meet goals.


  8. Helpful (3)

    Bank Loans A1

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Bank Loan Specialist in Kansas City, MO
    Former Employee - Bank Loan Specialist in Kansas City, MO

    I worked at State Street full-time (Less than a year)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    There are no pros for working here!

    Cons

    Age of A2 and managers are really young. Bury associate 1's under a mountain of work while everyone else instant messages and watches. No help what so ever. Kansas City bank loans branch is a complete joke.

    Advice to Management

    Nothing, it would take years of change to try to fix the mess that are the working conditions. The people from Boston are unbearable to deal with.


  9. Helpful (6)

    Questionable Leadership

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President in Kansas City, MO
    Former Employee - Assistant Vice President in Kansas City, MO

    I worked at State Street full-time (More than 10 years)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Relaxed atmosphere, good benefits. Flex work program allowing for good work/life balance. Opportunities abound if you're a new grad or have limited experience.

    Cons

    Long-time career not viable. Constant outsourcing and replacement of staff for "cheaper" staff keeps this from being a realistic goal. Upper management puts no loyalty in staff. Constant threat of being replaced keeps moral very low. Little opportunity for growth, especially long -term due to long-term employees always facing outsourcing replacement. Company growth in recent years appears to hinge only on one thing, cost-cutting and replacement of experienced staff - no real corporate growth.

    Advice to Management

    Upper management needs to step back and look at the culture they have built. Culture is one of long hours, low moral, and constant fear or being outsourced.


  10. Fund Accountant

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Fund Accountant, Associate II in Kansas City, MO
    Former Employee - Fund Accountant, Associate II in Kansas City, MO

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

    Pros

    The training is really good and you can learn a lot in Finance and Accounting. The benefits are really good as well, paid for all of my son's medical issues.

    Cons

    The pay is the lowest in the industry and its not a good company to move up the latter. It is great for just out of school college students who want to get there feet wet. They lay off people almost every year and loose some really talented people there.

    Advice to Management

    Pay better wages for employees and don't get ride of the people who have so much product knowledge.


  11. Fund Administration Intern

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Intern - Anonymous Intern in Kansas City, MO
    Current Intern - Anonymous Intern in Kansas City, MO

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

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

    Pros

    -Relaxed environment unless it is the end of a quarter
    -Easy environment, not demanding at all
    -Good Pay for summer internship
    -Relocation package available to those coming from outside of the city
    -You learn Excel in depth

    Cons

    -Boring
    -Nothing to do at times
    -Cubicle life
    -Older people



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