State Street Reviews

Updated October 24, 2014
Updated October 24, 2014
1,317 Reviews
2.7
1,317 Reviews
Rating Trends

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

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 126 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 61 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 39 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 53 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1.  

    Great career development opportunities

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Career Opportunities
    Current Employee - Operations Processing Analyst in Hadley, MA
    Current Employee - Operations Processing Analyst in Hadley, MA

    I have been working at State Street part-time (more than an year)

    Pros

    Learn a lot and develop skills that will help in career development

    Cons

    Work is boring at times

    Advice to ManagementAdvice

    None

    Recommends
    Positive Outlook
    No opinion of CEO
  2.  

    Staff

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

    I have been working at State Street

    Pros

    A good place to start your career

    Cons

    Low starting salary in the beginning

  3.  

    Good saslary and perks for higher ups, not a bad place for a foot in the door in the finance/accounting industry

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Pricing Specialist Associate I in Sacramento, CA
    Current Employee - Pricing Specialist Associate I in Sacramento, CA

    I have been working at State Street full-time (less than an year)

    Pros

    training and support provided. personal development is valued.

    Cons

    Low entry-level wages... Have to keep yourself motivated to do this type of work. not stable, sometimes stressful.

    Advice to ManagementAdvice

    Retention of valuable employees that leave elsewhere for better opportunities can be done by raising lower salaries.

    Recommends
    Positive Outlook
    Approves of CEO
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  5. 1 person found this helpful  

    Huge corporation focused on profits, not people

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Client Operations Associate
    Current Employee - Client Operations Associate

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

    Pros

    Good exposure to fund accounting for an entry level, recent college grad. If you're put into client operations or fund accounting, you can learn a lot of skills quickly to put on your resume. (Any custody type, processing roles will be completely useless for your career however)

    Cons

    They've outsourced most of their workforce overseas at this point so good luck keeping your job. Not only does that mean layoffs for us, but also the quality of work suffers. The people in India and the Philippines they hire are completely incompetent and you will have to pick up their slack. In fact, it seems as though they foster a culture of mediocrity in general: get your work done, don't go above and beyond because we don't listen to people who think outside the box and don't recognize overachievers. All the truly talented people leave this company within a few years. VERY low pay, to the point where I can barely pay bills. Very hard to get promoted, basically no employee development in this company. If you are a serious professional trying to make a career in the financial industry, don't waste your time here, they don't reimburse employees for the CFA exam. You are not important to them: you are a cog in the wheel.

    Advice to ManagementAdvice

    Invest more in employee development to instill a sense of community among the employees. Encourage them to develop themselves professionally and reimburse them more for graduate programs, CFA, CPA, etc. And please pay people who actually perform!

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  6.  

    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 an 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
  7. 1 person found this helpful  

    Eh....

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

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

    Pros

    Young company, so a lot of your coworkers are around your age. Managers/colleagues are usually the only reason to go to work. And that's only on some teams. Really only busy for 5months of the year. Lots of learning and training, definitely get to know ins and outs of tax.

    Cons

    VERY low pay. Yes OT is allowed, but compared to other companies, the salaries are extremely low. Upper management are only concerned with how low their pay is, so they only hire college grads, then get mad when the ending product is less than satisfactory. Very VERY little room to grow, career wise. Takes around 4-7 years just to be promoted to Senior.

    Advice to ManagementAdvice

    Happy staff, better ending product. Keeping your staff miserable doesn't get you a better outcome.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  8.  

    Low investment in people and innovation

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

    I have been working at State Street full-time

    Pros

    Flex work and benefits

    Cons

    Slow and old fashion environment. State street remains a custodian, low margin high volume and unsophisticated tools.

    Advice to ManagementAdvice

    Invest in your employees and attract talent with market competitive salaries. Diversify and allow world talent to lead, not the same Boston monochromic old guard.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9.  

    Fund Accountant

    • 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 part-time (more than an year)

    Pros

    Flexible schedule
    Good Team management
    Had a good cafe

    Cons

    Dull atmosphere
    repetitive work
    micro-managed
    Did not recognize talent

    Advice to ManagementAdvice

    None

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10. 4 people found this helpful  

    Was able to learn a lot but very stressful and eventually burned out.

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

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

    Pros

    Good for college graduates looking for a decent entry level job into the market.
    Ok pay.
    Good benefits.

    Cons

    Stressful.
    Long hours.
    Many daily deadlines.
    Failure only job, no matter how well you do you are bound to slip up and are always one button away from a big mistake.

    Advice to ManagementAdvice

    Would apply more job rotation opportunities as the jobs get very repetitive in the Center of excellent model. Should emphasize learning & advancement to keep more employees.

    Doesn't Recommend
    Neutral Outlook
    Approves of CEO
  11. 2 people found this helpful  

    Good experience entering financial field

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

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

    Pros

    Given opportunity to learn mutual funds

    Cons

    Low pay, company sends jobs offshore

    Advice to ManagementAdvice

    Please be good to employees, most are been with the company for a long time

    Recommends
    Neutral Outlook
    No opinion of CEO

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