State Street

www.statestreet.com

State Street Reviews in Quincy, MA

Updated January 27, 2015
Updated January 27, 2015
1,441 Reviews
2.8
1,441 Reviews
Rating Trends

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Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
467 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

85 Employee Reviews Back to all reviews

Sort: Popular Rating Date
  1.  

    Very good

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Associate in Quincy, MA
    Former Employee - Senior Associate in Quincy, MA

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

    Pros

    Enjoyed the work & the people.

    Cons

    At times I felt we were understaffed.

    Recommends
    Positive Outlook
  2.  

    Great coworkers, decreasing value placed on healthy work/life balance from management.

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Associate in Quincy, MA
    Former Employee - Senior Associate in Quincy, MA

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

    Pros

    Excellent back office experience. Many wonderful coworkers. Knowledge gained and exposure to industry was very valuable.

    Cons

    "Global Competitiveness" is a clever way of saying they are looking for the cheapest possible way to business, regardless of poorly our Asian, Indian, and other outsourcing partnerships treated its employees. "Professional Development" often meant being required to take on more work, without additional compensation. For the six years I was employed, four of those years I was told that management couldn't afford raises and promotions, and I should be thankful just to have a job.

    Advice to ManagementAdvice

    Show a little respect to loyal employees. Compensation is key to retaining good employees. Pay your employees competitive salaries.

    Recommends
    Negative Outlook
  3.  

    There is very little room for growth

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

    I worked at State Street full-time

    Pros

    People - if you are lucky enough to be placed in a friendly group. Most people come in, work, and then leave with hardly a few words to each other.

    Cons

    Highly discourage recent graduates from applying to State Street unless through PDP program. Not a place where you can find many doors for growth or promotion.
    Terrible, terrible entry-level compensation.
    Senior management does not care about staff shortage until the very last moment, and even then, it takes months to hire new people. I saw many people from my group alone leave because of the work environment.

    Advice to ManagementAdvice

    Listen to your associates. Pay entry-level positions more.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5.  

    unethical

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Analyst in Quincy, MA
    Former Employee - Analyst in Quincy, MA

    I worked at State Street

    Pros

    gaining experience for your resume

    Cons

    no work-life balance, unethical treatment from management

    Advice to ManagementAdvice

    management should be considered to adhere to lean policy

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
  6.  

    Mixed

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

    I have been working at State Street full-time (more than 5 years)

    Pros

    The benefits are great and coworkers are wonderful. Hard work will pay off but you need to be patient.

    Cons

    Pay could be better, work life balance is not quite what it could be with little chance that this will change any time soon.

    Advice to ManagementAdvice

    Decreased focus on initial training classes and lack of job rotation narrows the capabilities of junior employees. This may save money in the short term but could have longer term impacts if the added stress on senior employees leads to increased turnover. There is a lot of talent present but if not properly cultivated is just wasted potential.

    Recommends
    Neutral Outlook
    Approves of CEO
  7. 1 person found this helpful  

    IT experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Assistant Vice President - Applications Developer Consultant in Quincy, MA
    Former Employee - Assistant Vice President - Applications Developer Consultant in Quincy, MA

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

    Pros

    Good co-workers if you are lucky
    Parking depending on location

    Cons

    Layoffs, low morale, bad management.

    Advice to ManagementAdvice

    Reverse outsourcing

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8. 7 people found this helpful  

    Unless you are desperate for a job look somewhere else

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Pricing Analyst in Quincy, MA
    Current Employee - Senior Pricing Analyst in Quincy, MA

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

    Pros

    Decent benefits
    Team oriented
    Located outside of Boston

    Cons

    Always understaffed
    Work all but 2 holidays a year
    Poor training
    Limited room for gorwth
    Low base salary and bonus compared to other companies
    Overworked and everyone in the team is burnt out
    Worked during 3 blizzards and one tropical storm

    Advice to ManagementAdvice

    Hire more people to spread the work load, focused more on training current employees, and recognize those who stand

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

    Financial Reporting Specialist

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Reporting in Quincy, MA
    Former Employee - Financial Reporting in Quincy, MA

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

    Pros

    Gain a lot of experience

    Cons

    There are nothing much to talk about cons

    Advice to ManagementAdvice

    Please consider work-life balance.

    Doesn't Recommend
    Disapproves of CEO
  10. 1 person found this helpful  

    Leading edge in Financial Transformation

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Vice President in Quincy, MA
    Current Employee - Vice President in Quincy, MA

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

    Pros

    Opportunities to contribute to transformation of the organization and move it forward. Great worklife balance, which I think off-sets the fact that State Street tends to have lower salaries than competitors.

    Cons

    Constant cost cutting does provide concerns around long-term job security. Highly political especially at high VP and SVP levels.

    Advice to ManagementAdvice

    Politics and implied power of some SVPs has prevented the organization from getting the most out of its transformation efforts.

    Recommends
    Neutral Outlook
    Approves of CEO
  11. 8 people found this helpful  

    Slave Street

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

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

    Pros

    Good resume booster. A lot of positions give you a good opportunity to learn a lot. These are the only two things. You'll see some people mention the work/life balance... it doesn't matter. You don't stay late, you don't get half your work done. You take a vacation, everything is in shambles when you get back. This is because of terrible organization and incompetent and selfish management.

    Cons

    low pay, toxic culture, get out as fast as you possibly can before this place sucks the life out of you. This isn't me having an abnormal terrible experience. This is the experience of most people working at State Street. My review just sounds terrible because I'm not trying to look on the bright side. This is what it is.

    Advice to ManagementAdvice

    Take business 101

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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