State Street

  www.statestreet.com
  www.statestreet.com

State Street Reviews

Updated December 15, 2014
Updated December 15, 2014
1,383 Reviews
2.8
1,383 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
447 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

Employee Reviews

Sort: Popular Rating Date
  1.  

    Great Entry-Level Job

    • Comp & Benefits
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    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 an year)

    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.

    Recommends
    Positive Outlook
    Approves of CEO
  2.  

    Lots of Opportunity

    • 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 full-time (more than 8 years)

    Pros

    Can move up easily, lots of opportunities, can move departments easily. Lots of nice, helpful people with a team oriented environment.

    Cons

    Work life balance is an increasing challenge. Less people to get the job done in an ever increasing environment.

    Recommends
    Positive Outlook
    Approves of CEO
  3.  

    Great company atmosphere

    • 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 full-time (less than an year)

    Pros

    Sense of community. Great company morale. Good opportunities for advancement if willing to put in the time.

    Cons

    Not paid near what was deserved.

    Advice to ManagementAdvice

    Starting salaries needs increased.

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

    Decent for an entry level job

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

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

    Pros

    Benefits are on par with other Fortune 500 companies.

    Job security is pretty good for any of the Global Services roles. This is also a con though because it cultivates employees who don't care sometimes.

    I've enjoyed the people that I worked with. This is highly dependent on the group, but my interactions with everyone were positive 95% of the time.

    I've worked in two different groups at State Street in different locations and had a very good manager in each.

    Work life balance depends on your group. You find out very quickly if you're working 10-12 hours a day or if you are out on the dot after putting in 8 hours. Generally from what I've seen you can make the decision, but that also depends on if your manager is willing to vouch for you/let you move.

    Cons

    Biggest con is compensation. It starts low and the advancement is fairly slow (yet also group dependent). Raises at the associate level were in the 10-15% range from what I saw, which isn't much when your base is in the 30s. Bonuses are in the 3-5% range depending on your review. The compensation is about 20-30% lower than other comparable companies in the same geographic area.

    The morale is terrible. The stem of the problem from talking to people (and what I say to others) is that the company just doesn't value it's employees.

    The nature of the work varies, but 90% of it is data entry and troubleshooting the ancient processes/hardware. It's pretty much an assembly line.

    Advice to ManagementAdvice

    The road to becoming a manager is not well thought out. I know of multiple people trying to not get promoted from senior associate to officer because it's essentially a decrease in pay for the same hours (this is the case for a large number of people; you move from hourly to salaried). I'd recommend putting some sort of equity program together once you hit the officer level to add an incentive for getting to the management level.

    I understand this isn't a job that doesn't require an extensive skill set, but at least show some sort of care for employees. Bonuses are a joke, salaries are low and people are always looking to leave. Everyone sees this and this adds to the low morale.

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

    State Street

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

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

    Pros

    Most departments offer flex work schedules for a work/life balance for it's employees. They are very volunteer focused to give back to communities.

    Cons

    Leadership lacks employee focus and growth and is more concerned with bottom line and return on stock holders earnings per share.

    Advice to ManagementAdvice

    Compensation to lower employees were below market average.

    Recommends
    Neutral Outlook
    Approves of CEO
  7.  

    Pleasant company to work for.

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

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

    Pros

    Great training and leadership, relaxed work environment.

    Cons

    Lack of room for career advancement. Merit increase were fairly small.

    Advice to ManagementAdvice

    Incorporate more programs for employee training on industry wide systems.

    Recommends
    Neutral Outlook
    Approves of CEO
  8.  

    Great Starting Position

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

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

    Pros

    Great Benefits and have a good work/life balance. The coworkers are great and make time at work enjoyable. Good chance to move up in the company.

    Cons

    Low pay but the company and benefits make up for it. Long hours but it is worth it in a starting position.

    Recommends
    Positive Outlook
    Approves of CEO
  9.  

    Good first job

    Current Employee - Transfer Agent in Boston, MA
    Current Employee - Transfer Agent in Boston, MA

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

    Pros

    This has been my first job out of college and i've been here a year. It is a good first job. We get OT at certain times of the month. Good benefits.

    Cons

    HR was poor but i may just have got unlucky. It is hard to move up as promotions aren't given much.

  10.  

    Very good work/life balance. Salaries ok to good.

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

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

    Pros

    Work Life Balance, advancement potential

    Cons

    Average salaries, limited internal salary advancement opportunities

    Recommends
    Approves of CEO
  11.  

    Senior account controller

    Former Employee - Anonymous
    Former Employee - Anonymous

    I worked at State Street

    Pros

    Good work life balance. Friendly people good management. Was there through a co op and they were willing to accommodate my schedule.

    Cons

    Challenging to move up. Political at times. Could use more defined career paths. Silo work groups. Not much opportunity to explore.

    Advice to ManagementAdvice

    More defined career path.

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