State Street Reviews

Updated July 27, 2015
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4.1
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Approve of CEO
State Street President and CEO Joseph L. Hooley
Joseph L. Hooley
2 Ratings

Pros
  • Flex work program allowing for good work/life balance (in 132 reviews)

  • The only one I can think of is the ability to work from home (in 65 reviews)

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

  • High turnover due to long hours (in 57 reviews)

More Pros and Cons

13 Employee Reviews

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  1. State Street Bank

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Transfer Agency Administrator in Kraków (Poland)
    Current Employee - Transfer Agency Administrator in Kraków (Poland)
    Recommends
    Positive Outlook

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

    Pros

    very good atmosphere at work

    Cons

    I have no cons, besides that I have worked here so short


  2. Transfer Agency Amdinistrator

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Transfer Agency Associate in Kraków (Poland)
    Current Employee - Transfer Agency Associate in Kraków (Poland)
    Recommends
    Approves of CEO

    Pros

    good money, helpful team and nice social package

    Cons

    stress because of deadlines, and IT problems


  3. Helpful (1)

    Good company

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accountant, Associate I in Kraków (Poland)
    Current Employee - Fund Accountant, Associate I in Kraków (Poland)
    Recommends
    Positive Outlook
    No opinion of CEO

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

    Pros

    it looks good in CV, it makes you learn excel fast even if you havent used it in the past some knowledge about financial aspects, market assets etc. not bad salary, but still not perfect

    Cons

    on lower positions you just copy paste, and supervisors dont really want to make you understand what you're doing You just need to finish your task and go home. Overtime happens very often, sometimes every day. You dont feel like actual employee but like a robot programmed to run excel macros Every knowledge that could help u get promoted you must get by yourself sometimes by doing overtime or reading finance books by ur own; State Street wants you on A1 grade forever, because you get the lowest money and you are doing the hardest monotonous, brain killing tasks so they are ok with that.

    Advice to Management

    Reorganize whole education system. There is NO trainings in this company. Tread employee like a human not a robot. Every employee has a brain. Start to hire ppl with really financial interests, not only ppl that "are able to understand in english" and have two hands.


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  5. trade analyst support

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Trade Process Analyst in Kraków (Poland)
    Current Employee - Trade Process Analyst in Kraków (Poland)

    Pros

    Extremely motivating environment and possibility to work for one of the biggest financial companies worldwide.

    Cons

    Salary could be better, even if it is close to market average salaries.


  6. I was a 3-month intern at the company, I found the team friendly but the workload a little monotonous.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Former Intern - Derivatives Processing in Kraków (Poland)
    Former Intern - Derivatives Processing in Kraków (Poland)

    I worked at State Street as an intern (Less than a year)

    Pros

    They accept students and its a great place to start to get some experience while still at university. With more experience they give the option of applying for job shadowing in different departments for one week periods. pizza day annual parties

    Cons

    Monotonous, daily deadlines, the work was not self-fulfilling or important


  7. Good for as the first professional experience in corporate world

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accountant in Kraków (Poland)
    Current Employee - Fund Accountant in Kraków (Poland)
    Recommends
    Positive Outlook

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

    Pros

    Communicatoion with donor side on daily basis, possibilty to learn a lot

    Cons

    Repetetive job depending on a position


  8. Helpful (2)

    Mundane, thoughtless and repetitive work with no opportunity to differentiate yourself from the herd.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Fund Accountant, Associate I in Kraków (Poland)
    Former Employee - Fund Accountant, Associate I in Kraków (Poland)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    - Unlimited filtered water and ice. New building adjacent to a shopping mall. Employees who perform their work quickly can go to the mall and spend the majority of their time surfing the web using free wifi in the mall.

    Cons

    - Trained over the telephone by someone who had been working in the company for a couple of years but didn't know how to use keyboard shortcuts in excel or windows - Fragmented company vision. (certain supervisors choose to disregard the company outlook) - First town hall for IFS (hedge fund services) only came about after 4 years in Poland. The average employee has no idea what the company does other than some cheesy buzzwords. e.g. The Way Ahead - Conflicting messages: some supervisors say you are open to execute your tasks in any way you see fit, others have a more fascist and childish approach to their management with an inability to control their impulses, discuss things like rational adults or recognize others' real talent - Citrix: A virtual windows client used company-wide that ensures "security", while at the same time makes transferring 15kb (that is KILOBYTE, not MEGABYTE) files a process that takes nearly a minute - Upon asking the supervisor for their rationale regarding the improvement of the system, the response was: it makes your work more interesting - General system issues nearly on a daily basis. - Legacy software with a complete lack of effectiveness or design - Business continuity planning is preached routinely, but the company has never even bothered to do a stress test of its backup servers, which when the main servers crash (bi-monthly), slows the already crawl-like speed of the system to 0. - Generally, a toxic environment but great for those who seek a simple job with no eye on real career development - Company policy dictates that the amount of time worked directly relates to job promotions, leaving those with superior skills to rot while going through the motions of the mundane daily tasks - The company celebrated their 2000th Polish employee by giving out cheap bisphenol-A plastic water bottle which leaked when turned upside down or sideways If it ain't broke, don't fix it...even if it it broke, don't fix it.


  9. Associate 2

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accountant Associate II in Kraków (Poland)
    Current Employee - Fund Accountant Associate II in Kraków (Poland)
    Recommends
    Positive Outlook
    No opinion of CEO

    I have been working at State Street full-time (More than 3 years)

    Pros

    Good for the beginning, many opportunities, good global inclusion initiatives, mostly great people, bonuses, quite good working culture, education support program

    Cons

    bad management, some people are very impolite, quite low salary, low bonuses, work is mostly the same every day, boring, it is difficult to benefit from education support program if your manager doesn't like your idea of self developement


  10. Fund Accountant in IFS

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accountant, Associate I in Kraków (Poland)
    Current Employee - Fund Accountant, Associate I in Kraków (Poland)

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

    Pros

    Good starting salary, interesting job benefits. Company creates great opportunity to work in international management. If you work hard you can get a chance to be transfered to another location abroad.

    Cons

    Depending on client, can be extremelly stressful. Your supervisiors are usually based abroad, in donor center, therefore they are not able to evaluate your performance objectivelly.


  11. Helpful (6)

    It looks like an office but it is actually a factory.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Fund Accountant in Kraków (Poland)
    Former Employee - Fund Accountant in Kraków (Poland)
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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

    Pros

    I think the only reason to start working in State Street is that they are paying 3500 gross a month to a graduate (as of 25.05.2013). This salary is an upper-middle one in the Krakow's business outsourcing scene.

    Cons

    Fund accountant job doesn't involve any financial knowledge at all. You just follow the written procedure each and every day. You just have to clik in Excel as quickly as possible. The funniest and most stupid part of the job is the so called "pricing" You have to print a few dozen pages and check if the numbers are the same on each of the pages. You make a tick to each number on a page. The job is very boring, mundane and repetitive. Each and every day you are doing the same thing. The only positive side of this State Street factory is that people who would have to otherwise work in a factory can instead work in an 'office factory'. It differs from a real factory in things such as you don't have to carry heavy objects. Instead, you just push light papers mindlessly. If you have any talent whatsover, stay as far from State Street as possible.

    Advice to Management

    The management won't bother with any comments and won't treat workers better. They know that the employees have no exit opportunities and are easily replaceable in Krakow.



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