State Street Reviews

Updated July 28, 2015
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1,623 Employee Reviews

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  1. Helpful (6)

    No longer a good place to work

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

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

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

    Pros

    There are certain things that are constant...benefits, 401k, flexible work arrangements such as working from home

    Cons

    Senior management has very little regard for those with valuable skills and expertise. Focus is purely on bottom line. People with decades of service are let go, functions are "transformed", which is another way of saying "we're going to layoff hard working Americans and send their jobs to India" where for what was done by one person in the US requires 3-4 "partners" to execute. Once the lower level positions are eliminated, senior management creates layer after layer of groups to oversee ridiculous "initiatives"

    Advice to Management

    Pay attention to what's happening out on the floors and listen to what people are saying in the surveys that are filled out.


  2. Helpful (1)

    Last Resort

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

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

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

    Pros

    Young office, some decent perks, reasonable benefits. You are getting experience with a very large firm that is valuable as your first start out of college.

    Cons

    Pay is rather low, and especially for California. The work is incredibly monotonous and seems as if it could be completely automated soon. There isn't a lot of feedback from supervisors, training is put on equal beginning employees.

    Advice to Management

    Work on improving employee retention metrics as the revolving door is one of their greatest problems.


  3. Helpful (1)

    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


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  5. Great Benefits

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Officer in Atlanta, GA
    Current Employee - Officer in Atlanta, GA

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

    Recommends
    Negative Outlook
    No opinion of CEO
    Recommends
    Negative Outlook
    No opinion of CEO

    Pros

    Dynamic work environment with the possibility for advancement. Flexible work arrangements including working from home and part time. Paid overtime for associates.

    Cons

    Rapid growth has lead to a gap in experience at the associate level. Management is unwilling to utilize the talents of an experienced recruiter to attract experienced professionals.


  6. Helpful (2)

    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.


  7. 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.


  8. 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


  9. 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.


  10. Helpful (2)

    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.


  11. Helpful (3)

    12 months in

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

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

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

    Pros

    Ability to work from home several times a month. Paid vacation and retirement/benefits package.

    Cons

    At times hours can be long. There is a very slow process of opportunity for advancement. One basically has to wait for a spot to open, meaning either someone above you quits or gets promoted.

    Advice to Management

    Try being less autocratic. While working here I can count on one hand the amount of times my boss has said anything to motivate me in a positive way. It feels as though they do not care about the team. It is hard to ask management questions because of the wall they put between themselves and associates.



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