State Street Reviews

Updated July 1, 2015
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2.8
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Approve of CEO
State Street President and CEO Joseph L. Hooley
Joseph L. Hooley
508 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

1,572 Employee Reviews

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  1. Featured Review

    Great Entry-Level Job

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    Current Employee - Functional Specialist in Boston, MA
    Current Employee - Functional Specialist in Boston, MA

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

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Grasping all the job responsibilities in one week is doable by taking notes and asking questions. Every day the job is pretty much the same, so you would naturally get faster and faster at it. Lots of interesting web-based and classroom classes for free, so if there is a subject that you need to brush up on - they're perfect! The view of Boston and the harbor is breathtaking. Co-workers are extremely nice and friendly. I am looking forward to spending as many years as I can at this company.

    Cons

    When running into a few software issues, the IT help desk could take a really long time to solve your issue.


  2. assistant vice president

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

    I have been working at State Street

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    GOOD BENEFITS with teh company and goo work/life balance

    Cons

    low pay, compared what can be recieved in the market

    Advice to Management

    keep salaries up with market trends


  3. Performance Analyst

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

    I worked at State Street full-time

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    Work life balance got to work from home on Fridays, lots of training opportunities

    Cons

    low pay, top heavy management, next to nothing bonus

    Advice to Management

    increase salaries


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Client Service Manager, Senior Associate

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

    I worked at State Street full-time

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Good work/life balance. Decent benefits. It is a good entry point into financial services industry.

    Cons

    Low pay compared to competitors. Significant over staffing at mid-management level results in a disconnect between initiatives and day-to-day operations.

    Advice to Management

    A clearer path for advancement and stronger training programs would likely improve retention.


  6. Good work culture

    Former Employee - Anonymous Employee in Boston, MA
    Former Employee - Anonymous Employee in Boston, MA

    I worked at State Street (Less than a year)

    Pros

    One of best financial company to work for.

    Cons

    None. Sometimes budget issues hurts.


  7. Associate II - Good Place to Learn, Not Stay

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

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

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

    Pros

    - The people. Your co-workers are all in their twenties and you will have plenty of fun. The Sacramento office has a ping pong table, fun location, and some really great people.

    - You're in an office environment with a good name on your resume. You can say you have been there, done that with regards to some legitimate finance experience. It is back office work, but you can easily spin it to sound halfway decent.

    - You will learn some... not a lot, but some. After a few months, it is mostly repetitive steps you have seen thousands of times.

    - There are some real Excel gurus in the office. Learn from them as much as possible.

    Cons

    - Repetitive, super boring work.
    - If you're a decent employee, they will quickly overload you with tons of stuff to do.
    - Frustrating, with little help from management (a byproduct of promoting some young employees quickly).
    - After a few months the learning quickly evaporates.
    - Middle management - officer & AVP - are some questionable employees.

    Advice to Management

    Take promotions seriously, develop the good people (and fire the bad ones!), increase the pay. If someone shows promise, reward them! Stop working those people until they burn out and leave.


  8. Salaries could be more competitive

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    great opportunities for growth and advancement

    Cons

    salaries are not competitive with the market


  9. Helpful (1)

    Great hands on experience which prepared me for full time employment after college

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

    I worked at State Street

    Recommends
    Neutral Outlook
    Approves of CEO
    Recommends
    Neutral Outlook
    Approves of CEO

    Pros

    Great team - great learning experience allowed me to take on more work during my time
    Opportunity to grow

    Cons

    More orientation based events for incoming interns starting in winter months.

    Advice to Management

    n/a


  10. Could be better

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

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

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Awesome benefits. Good options for insurance, so much paid time off that I have problems using it all, very casual dress code, working from home option 3 days/week, volunteer days and company donation match, lots of resources available for professional development and career growth. Overtime available for A1 & 2 levels helps compensate for the horrible pay. If you're placed in the right department with the right team, you're surrounded by great people and great bosses.

    Cons

    Paying for parking every month is ridiculous, even if it is pre tax. The cafeteria is way overpriced. The pay at the entry level positions is laughable. Outsourcing departments to India puts people out of jobs and leaves the remaining employees frustrated with the poor work. The training sucks, to be blunt. Everything seems extremely unorganized from the upper management level.

    Advice to Management

    Increase pay, especially at the entry level position. State Street has a reputation of hiring anyone, but you can get rid of that by actually recruiting finance/accounting people with common sense. Improve the culture by making the environment less like a sweatshop and more like one of the oldest, most successful financial services company in the nation, because you are.


  11. Mediocre

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

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

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

    Pros

    Benefits are great.
    3 weeks vacation to start off.
    Easy to move around the company horizontally and vertically.
    Work from home capability.
    Many employee engagement activities.

    Cons

    Low moral and turnover due to frequent overtime, inefficient software and slow computers, management being self-serving and noncompetitive pay. Additionally, their are many management layers many of which are filled with inexperienced individuals who stuck it out and took advantage of the companies inability to attain and keep well qualified, knowledgable employees. Having been interviewed at different firms by accountants and was told, SS does not practice true accounting and the skills and software used does not transfer.

    Advice to Management

    Pay a more competitive wage to retain quality individuals who can bring about real ideas on how to develop and package services to clients that are competitive and new to the industry.
    Invest in new software and equipment.
    Get rid of management that are just keeping a seat warm.



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