State Street Reviews

Updated October 29, 2014
Updated October 29, 2014
1,324 Reviews
2.7
1,324 Reviews
Rating Trends

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

Review Highlights

Pros
  • Good work life balance with potential to work from home or create a flexible schedule (in 128 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 62 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 55 reviews)

More Highlights

Employee Reviews

Sort: Popular Rating Date
  1. 2 people found this helpful  

    Some good, mostly bad.

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

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

    Pros

    You will learn a lot by working here. The initial training is not the best, but once you get on the floor you will learn a ton from doing the work or from colleagues, if you are fortunate to have good colleagues. Benefits are decent.

    Cons

    Pay is awful. Depending on where you are, promotions could be hard to come by, but that is more because State Street is always looking to cut costs by moving to cheaper and cheaper labor. If you see similar departments as yours being outsourced, find a new job. 401k match here is 5% once fully vested, but I do not think many people actually work at State Street long enough to be fully vested. Compared to other companies, the 401k match does not do much considering you will be taking a 10-20% pay cut to work here.

    Advice to ManagementAdvice

    Pay employees better. Implement programs to identify talent and try to retain them. Instead of trying to focus so much on talent acquisition, try to focus a bit on talent retention.

    Disapproves of CEO
  2.  

    internship

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

    I worked at State Street as an intern (less than an year)

    Pros

    looks good on the resume

    Cons

    environment is very slow with workers just trying to get by.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  3.  

    more of the same

    • 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

    Good amount of work to keep busy. Flexible work arrangements.

    Cons

    work-life balance due to commute

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5.  

    Low stress environment for the most part, but low learning opportunity if asset servicing isn't your career

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

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

    Pros

    - Most employees are open to help if you ask for it
    - Very little interaction as everyone seems to keep to themselves or their own group
    - Company HR does make an effort for interns to go to large events and get to know people in the company
    - Interns are paid fairly well ($12-15 an hour)

    Cons

    - Workload can vary dramatically based on what group you are in
    - Difficult to apply experience to broader finance if asset servicing isn't your field
    - Entry level compensation for full time work is not competitive, especially given city location
    - It doesn't seem like any of the folks that join the company straight from school actually wanted to end up here

    Advice to ManagementAdvice

    - Entry level compensation is not nearly competitive enough
    - Improve the ability of junior members to quickly move up the management chain

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

    Low pay, easy interview.

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

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

    Pros

    It does have a decent training intro program to get you going if you didn't go to business school. If you did, look for a job somewhere else.

    Cons

    Low pay and miserable mid office management.

    Advice to ManagementAdvice

    Kick up the starting pay and thin the button pushers.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  7. 2 people found this helpful  

    Eh

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

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

    Pros

    Corporate culture and infrastructure support flex work, especially remote work

    Cons

    The only way to get promoted is to come in from the outside.

    Doesn't Recommend
    Disapproves of CEO
  8. 5 people found this helpful  

    m'eh

    • 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

    Pros

    Good work-life balance, flexible hours, good culture

    Cons

    Poor staffing, laughably low salaries

    Neutral Outlook
    No opinion of CEO
  9.  

    Client Services Fund Accountant

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Client Services Fund Accountant in Quincy, MA
    Current Employee - Client Services Fund Accountant in Quincy, MA

    I have been working at State Street as a contractor (less than an year)

    Pros

    I like how my schdule never changes. Work hard during the week and have weekends off. The workload for everyday is different. Some requests that come in I am not familiar with but I have great supporting team around me to help solve the discrepancies. The office environment is very diverse. People are really polite and respectful mostly.

    Cons

    Sometimes the day can seem long. Some people working the food stations in the cafeteria on the second floor can act moody towards the actual state street workers.

    Advice to ManagementAdvice

    No complaints

    Recommends
    Positive Outlook
    Approves of CEO
  10.  

    Good to work with

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

    I have been working at State Street as a contractor (less than an year)

    Pros

    So many nice people and things to learn.

    Cons

    some employees are very uncompetitive and I can do a much better job than some of the senior associate.

    Recommends
    Positive Outlook
    No opinion of CEO
  11.  

    Great

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

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

    Pros

    Flexibility in working hours, liberalism, great people

    Cons

    Too many bureaucratic obstacles in getting things done

    Positive Outlook
    Approves of CEO

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