State Street Reviews

Updated September 29, 2014
Updated September 29, 2014
1,293 Reviews
2.8
1,293 Reviews
Rating Trends

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

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 122 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 60 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 40 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 51 reviews)

More Highlights

Employee Reviews

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  1. 1 person found this helpful  

    sweat shop

    • 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

    job experience is ok
    help to develop skills
    benefits
    location
    size

    Cons

    no work life balance
    had to move up
    operations is like a sweat shop

  2. 3 people found this helpful  

    disappointed

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at State Street

    Pros

    Good entry level job but pays poorly comparative to its competitors.

    Cons

    People of color are systematically discrimated. Promotions are preserve of friends of middle levels managers as opposed to merit. Prides in diversity but only a PR stunt. Some managers have the worst people's skills in the industry.

    Advice to ManagementAdvice

    Wake up and find out why people of color rarely go beyond associate 2 across the bank. If you doubt ask HR for data. Age of big data, analyze yours first.

  3. 2 people found this helpful  

    Dying

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

    I worked at State Street full-time for more than 3 years

    Pros

    State Street will never be on top, and they know it. Better work-life balance than most finance companies. Lots of training opportunities and internal education as well.

    Cons

    Inflexible system, low compensation, no office culture. I didn't meet a single person who enjoyed their job or enjoyed working there.

    Advice to ManagementAdvice

    Change something! You're tanking and had to fire a huge portion of your staff. Not looking good...

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5. 3 people found this helpful  

    Terrible work environment

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

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

    Pros

    The only pro is having a known company on your resume, but even that has very little weight since it mostly depends on your role

    Cons

    Terrible managers, horrible processes, no work life balance, unprofessional, underpay employees compared to peers. There is no value in their employees, because they believe in overworking you until you leave. The icing on the cake was when I experienced both racist comments and sexual harassment with no secure way of reporting it.

    Advice to ManagementAdvice

    Learn how to manage

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 1 person found this helpful  

    Not a company that values employees or talents

    • 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 for more than 10 years

    Pros

    Flexible work schedules, good benefits

    Cons

    Poor upper management and company structures

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 1 person found this helpful  

    Fund Accountant Associate II

    Current Employee - Fund Accountant Associate II  in  Boston, MA
    Current Employee - Fund Accountant Associate II in Boston, MA

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

    Pros

    Solid Benefits, Stable Company, Good company to work for when you're just starting out.

    Cons

    Feel like a small, irrelevant cog in a machine much greater than yourself. Office politics rule, management is peppered with people who know their job but don't know people. Pay raises almost aren't even worth the added responsibility of a promotion. Factory-feel.

  8. 1 person found this helpful  

    Good place to start, bad place to end.

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

    I have been working at State Street for more than 5 years

    Pros

    Good benefits: Flex time/work from home, tuition reimbursement, vacation purchase program. If working with the right people, ability to learn and seek career advice.

    Cons

    This is probably one of the most disorganized, inconsistent, inefficient companies I've worked for. No one seems to be on the same page from corporate to management to associate. Every team is a silo, and under its own governance. In the same department there are teams that work standard hours and others that are overwhelmed. Middle management seems to be poorly trained or qualified for their role and is often more concerned with getting work done (and micro-managing) rather than improving processes, leaving their employees floundering. There is also very little regard for employees and their over all satisfaction at work. It is a good starter job, but over the years your role will most likely change and your environment too, so that it is difficult not the be demoralized by the sub-par work conditions. If you work here, my advice would be get the experience and run.

    Advice to ManagementAdvice

    My advice to upper management would be to educate middle management. There is a disconnect between the ideals of the organization and the reality.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  9. 1 person found this helpful  

    State Street is Not a Company to Advance Your Career

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

    I worked at State Street as a contractor for less than a year

    Pros

    They have flexible work schedules, good benefits that take a while to kick in, and the workload is not bad.

    Cons

    Their pay is low for most jobs, you are stagnated in certain positions, and there are not enough opportunities for career advancement.

    Advice to ManagementAdvice

    The culture at State Street is a top down approach. It would be beneficial if employees had more input.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  10.  

    Good starter job

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    Decent pay for first job

    Cons

    Management was disconnected from their employees

  11.  

    Great Company

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

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

    Pros

    I had previously work in the AIS Real Estate Performance Measurement area and always impressed at how they continued to search and improve ways to service their clients.

    Cons

    Upper management wasn't always forthcoming on how they felt about certain business groups.

    Advice to ManagementAdvice

    I would recommend having a VP level person running a business group as the lower levels of management don't always have the experience level to properly service the clients. That level is to close to the work many times and can lose sight of what their clients are really looking for.

    Recommends
    Positive Outlook
    Approves of CEO

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