State Street

  www.statestreet.com
  www.statestreet.com

State Street Reviews in Kansas City, MO

Updated December 10, 2014
Updated December 10, 2014
1,386 Reviews
2.8
1,386 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
449 Ratings

Review Highlights

Pros
  • Good work life balance with potential to work from home or create a flexible schedule (in 132 reviews)

  • The flex work schedule, most people have an option to work from home twice a week (in 65 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 42 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 57 reviews)

More Highlights

97 Employee Reviews Back to all reviews

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  1.  

    Kansas City Fund Administration

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

    I worked at State Street full-time (more than 3 years)

    Pros

    Overtime > 40 hours for Level 1 & Level 2. Enjoyed the people.

    Cons

    Manager role requires 50+ hours a week for inadequate pay

    Recommends
    Positive Outlook
  2.  

    Hit and Miss Financial Corporation

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

    I have been working at State Street full-time (more than an year)

    Pros

    -Decent working environment
    -Upward mobility potential if desired
    -Good training
    -Great benefits, including health insurance and vacation policies
    -Typically flexible working arrangements and work from home capability
    -Good on-site amenities
    -Good yearly incentive pay

    Cons

    -Lowest pay brackets among financial corporations in the area
    -Frequent outsourcing of some departments
    -Demanding client-based environment

    Advice to ManagementAdvice

    -Increase pay brackets to retain talent
    -Develop better practices/policies for evaluating potential management before hiring/promoting

    Recommends
    Neutral Outlook
  3.  

    Low paying but good stepping stone.

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

    I have been working at State Street full-time (more than an year)

    Pros

    A lot of work experienced gained due to high work volume.

    Cons

    Low pay and high stress.

    Recommends
    Neutral Outlook
    No opinion of CEO
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  5.  

    Intern

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

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

    Pros

    Many opportunities to interact with employees and get a feel for a possible department that would be a good employment fit.

    Cons

    Some tasks are tedious and isolated.

    Recommends
    Positive Outlook
    Approves of CEO
  6.  

    State Street Kansas City

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

    I worked at State Street full-time (more than 5 years)

    Pros

    Good company culture, onsite gym & cafeteria, work-life balance, PTO, 401k match.

    Cons

    Compensation is well below average. Starting salaries are very low and promotions are capped at a certain percentage. This makes it impossible for your salary to ever catch up to "market value". State Street on the resume can make it difficult to gain fair value from potential employers since most know how low they pay. It is also very difficult to move from operations to other functions. KC office is looked at as the little brother compared to Boston office.

    Advice to ManagementAdvice

    Acknowledge talent in KC. Compensate high performers. Stop laying people off to hit your numbers and stop offshoring jobs to India.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7.  

    Fine place to start

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

    I worked at State Street full-time (more than an year)

    Pros

    Benefits package solid. Job very dependent on what unit/team you're on. If you work hard and try to learn every day, you can move up quickly and stop doing the rote processing required at the entry level.

    Cons

    Compensation not in line with similar positions at other companies. Not a very pervasive company culture.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8. 4 people found this helpful  

    Good opportunity to gain valuable industry experience, but low pay and little advancement options.

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

    I worked at State Street (more than 5 years)

    Pros

    The people, the experience, working from home options, and the benefits

    Cons

    I worked here for 7 years. I started at $32,000 like all my peers. Despite consistently meeting or exceeding expectations on my PPR, I was never promoted and was making a little over $36,000 when I left.

    Advice to ManagementAdvice

    Recognize and promote associates who show promise

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  9. 1 person found this helpful  

    Disappointing Experience

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

    I have been working at State Street full-time (more than 10 years)

    Pros

    Many good people and interesting work. The company is fortunate to have a wide-moat because if the barriers to entry weren't so great this company would be out of business by now due to poor leadership.

    Cons

    limited advancement opportunities once you move past the first few layers of the organization resulting in high turnover. Many of the best leaders I have worked with in the organization have been passed over for advancement because they don't have the "right" connections. Employees are consistently instructed to manage their own careers, but then told where and what they will be doing as the organization continues to fumble through change after change. Very Boston centric. Head count to work load, opportunities for advancement and pay differences are skeewed in favor of our Boston counterparts.

    Advice to ManagementAdvice

    Management is not interested in advice and operates in a bubble.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10.  

    Fund Accountant

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

    I have been working at State Street part-time (more than an year)

    Pros

    Flexible schedule
    Good Team management
    Had a good cafe

    Cons

    Dull atmosphere
    repetitive work
    micro-managed
    Did not recognize talent

    Advice to ManagementAdvice

    None

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  11.  

    Good company for college hire.

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

    I have been working at State Street full-time (more than an year)

    Pros

    Training program, good team, above average benefits, support for flexibility.

    Cons

    A lot of overtime, no career planning, stressful.

    Advice to ManagementAdvice

    The company needs to address the high turn over rates in some of the operating units: work on retaining talents!

    Recommends
    Neutral Outlook
    No opinion of CEO

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