State Street

  www.statestreet.com
  www.statestreet.com

State Street Reviews in Kansas City, MO

Updated December 10, 2014
Updated December 10, 2014
1,387 Reviews
2.8
1,387 Reviews
Rating Trends

Recommend to a friend
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State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
450 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.  

    A good stepping stone to better opportunities

    • 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 full-time (more than an year)

    Pros

    If you are looking for a job, apply at State Street. It's a steady salary with relatively easy work. You do not need to be in accounting, finance, business - all majors are encouraged to apply. There are a lot of young workers fresh out of college, so it's a good place to meet new people, too. The employment perks include various activities, games, and having that "corporate" feel , which can be a valuable experience when working in teams. State Street has a good name recognition and its' experience can be valuable to anyone's resume when looking elsewhere. Also, vacation time is on point.

    Cons

    It is a revolving door of turnover. These young people you meet will eventually leave for better opportunities (usually less than 1 year employed), as long as they are motivated to move up in their career. State Street has availability for middle management due to this turnover, but the pay will not be worth the added stress. The pay is absolutely the biggest gripe I've ever heard. For the company to target Accounting, Finance, Business majors - all of us want more out of our job. With the promotions that do happen, there's no real incentive except for a resume boost. I have been involved with several State Street activities, but that's ultimately the reason I left: better opportunities to grow and to earn a better living.

    Advice to ManagementAdvice

    -Target non-business related majors - they can do the job just as easily and are more likely to stay longer term.
    -Screen middle management to make sure they are doing an adequate job.
    -Create a better pay structure that at least gives new hires something to look forward to.
    -Own your parking lots so the employees do not have to pay each month.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  2.  

    Good starter job out of college

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

    Pros

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

    Cons

    The pay is too low

    Advice to ManagementAdvice

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

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 2 people found this helpful  

    I learned a lot but hated the work

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

    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 ManagementAdvice

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

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
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  5.  

    Good Experience, Lots of Hours

    • 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 (more than 8 years)

    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 ManagementAdvice

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

    Recommends
    Neutral Outlook
    No opinion of CEO
  6. 5 people found this helpful  

    Prior Associate 2 - Do not work here - Save Yourself

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

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 3 people found this helpful  

    Sad and Disappointing

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

    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 ManagementAdvice

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

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  8. 3 people found this helpful  

    Bank Loans A1

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

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 2 people found this helpful  

    Good starting company, most should leave after a year.

    • 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 part-time (more than 8 years)

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 6 people found this helpful  

    Questionable Leadership

    • 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 (more than 10 years)

    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 ManagementAdvice

    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.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11.  

    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 (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.

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