State Street Reviews in Kansas City, MO

Updated August 26, 2014
Updated August 26, 2014
1,285 Reviews
2.7
1,285 Reviews
Rating Trends

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

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 120 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 55 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 36 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 47 reviews)

More Highlights

88 Employee Reviews Back to all reviews

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  1.  

    Fund Accountant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    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 for 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 ManagementAdvice

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

  2.  

    Fund Administration Intern

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

    I have been working at State Street as an intern for less than a year

    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

    Positive Outlook
    No opinion of CEO
  3.  

    Custody and Account Manager

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

    I worked at State Street full-time for more than 8 years

    Pros

    Great location. Great benefits and vacation.

    Cons

    A lot of overtime is required with no additional compensation.

    Advice to ManagementAdvice

    Learn to know those who work under your direct reports.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
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  5. 1 person found this helpful  

    State Street used to be the best place to work.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    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 for more than 10 years

    Pros

    On site cafeteria, covered parking and other ammenities

    Cons

    No support from management. Continued layoffs of tenured, loyal employees that helped build the Kansas City office.

    Advice to ManagementAdvice

    Stop laying off all the talented people that built your company

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    Fund Accountant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    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

    Pros

    Option to work from home if your team/managers allow it. Industry Experience, good downtown location, ability to move up the ladder quickly

    Cons

    Low Pay, High turnover rates, will lay off people every year in order to replace the "expensive" employees with cheaper ones

    Advice to ManagementAdvice

    Start valuing the hard workers you have and maybe there would not be so much turnover

    Doesn't Recommend
    No opinion of CEO
  7.  

    Enjoyable for a time, but a career for most.

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

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

    Pros

    I enjoyed the people and the managers (especially the hire you go) were very knowledgeable and usually pretty good at their jobs. The people are the main thing that made me stick around.

    Cons

    The pay is horrible which is why the company's turnover rate is so high. There are some that make this place a career, but it seems to serve as a farm system for better paying companies.

    Advice to ManagementAdvice

    You get what you pay for. If you want more career bound employees pay accordingly. Employees enjoy the company, but turnover will always be a problem so long as you continue paying subpar salaries. Your presence in the community (regarding humanitarian efforts) is a positive one. Have you ever considered that compensating employees could also be interpreted as a good for the community as well?

    Recommends
    No opinion of CEO
  8. 5 people found this helpful  

    Overworked, Mindless data entry, paid like yesterdays trash.

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

    I have been working at State Street full-time for less than a year

    Pros

    Good health and dental.
    Friendly coworkers.

    Cons

    -Was trained for two weeks on pointless corporate talking points then thrown to the wolves and had the job responsibilities of three people.
    -Pay was terrible
    -Your job is always several months away from going to India

    Advice to ManagementAdvice

    Well your company is making money so obviously outsourcing jobs to India and paying overqualified people to the jobs you haven't outsourced yet is working!

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  9.  

    Standard big bank work environment.

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

    I have been working at State Street full-time for more than a year

    Pros

    Good benefits, employees start with 3 weeks vacation + 9 regular holidays + 3 floating holidays. Other benefits are exceptional, although most benefits are applicable based on team/department needs. Great training ground for people fresh out of college. Good introduction to global organization.

    Cons

    Management and HR could use a lot of work in many aspects. Parking costs $630+ per year. Very corporate and political mentality, employees are simply numbers to the people that matter. Description of benefits, work/life and other policies were misleading or explained in a misleading manner.

    Recommends
    Positive Outlook
    No opinion of CEO
  10.  

    It was a good experience.

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

    I worked at State Street as an intern for more than a year

    Pros

    Great company atmosphere. Everyone is extremely nice.

    Cons

    Very low pay for entry level positions. Work load is too much for such little pay.

    Recommends
    Neutral Outlook
    Approves of CEO
  11.  

    Good Entry-Level job... if all your other options don't work out.

    • 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 full-time for more than a year

    Pros

    Good Entry-Level Job, Resume builder (seems other accounting/finance companies hire from State Street), three weeks of vacation to start off

    Cons

    Low Pay for a College degree, as the economy has come back the company is having a hard time finding/keeping good talent, Huge turnover and slow to rehire which causes stress on team members that stay around, Hard to see the full picture of what your repetitive tasks are accomplishing, Outsourcing jobs to India

    Advice to ManagementAdvice

    Sad to think that the company strategy is to pay super-low salaries and have huge turnover. If you are going to go with it, might as well hire high school grads and put college grads in senior positions to start out.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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