State Street - Global expertise and reach, suffering from parochialism | Glassdoor
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There are newer employer reviews for State Street

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Helpful (1)

"Global expertise and reach, suffering from parochialism"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Vice President in Boston, MA
Current Employee - Vice President in Boston, MA
Negative Outlook
No opinion of CEO

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

Pros

As a bank of banks, depth and breadth of capital markets experience is unlimited. State Street's global reach and market leading support for it's clientele allows for economies of scale, rapid innovation and indepth expertise. It's products and services are market leaders and are rated at or near the top of their classes

Cons

State Street suffers the typical organizational ailments, organizational silos, regulatory pressure and the neverending pogroms to improve operational leverage. Restructuring, transformation and global resourcing are the current manamgement consultant recommendations du jour

Advice to Management

Operartional improvements can only succeed with employee engagement, spend more time building up employee morale and engagement

Other Employee Reviews for State Street

  1. "Abandon All Hope, Ye Who Enter Here"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Associate I in Quincy, MA
    Former Employee - Associate I in Quincy, MA
    Doesn't Recommend
    Negative Outlook

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

    Pros

    They pay you. Not a living wage, but they pay you. And because they pay you so little, they pay you every week, which is good, because you need to be paid every week to do things like survive.

    Cons

    The entry level job pays $30,000, non negotiable. You are stuck at that rate for at least 1 year, without being able to change departments or receive promotion. Many of the benefits don't kick in until after a year, and if you last that long, you're probably stuck there.

    Advice to Management

    Recognize that employees are individuals and should be compensated according to their strengths. Also, don't just tell us to work and be happy for it. Occasional perks are useful (and making us pay for Casual Friday doesn't qualify)


  2. Helpful (1)

    "The name is OK for entry level resumes, but definitely not worth it"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Mill Turning Mule in Kansas City, MO
    Former Employee - Mill Turning Mule in Kansas City, MO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    - They'll take fresh college grads even in this economy
    - Pays the bills (assuming you live the life of a hermit) and has decent benefits
    - Gives you a reason to get up in the morning

    Cons

    - Meritocricy means nothing, seniority takes precedence over competence, initiative, and preformance in considerations for bonuses and promotions
    - You WILL be managed by people who are clearly incompetent/stupid/insecure, and have been there for ages since they literally have no where else to go, and they know that
    - Easy to be stuck in the back office trap, especially when most people around you have no ambition to do anything else and actually think they are "playing the corporate game"
    - The work is basically glorified data entry, and future employers know that

    Advice to Management

    Seriously, outsource as much as you can to India/China, you get 5 people for the cost of 1 state school grad here, and each of of the 5 is twice as competent/productive as that idiot who surfs the internet 75% of the time anyways


There are newer employer reviews for State Street
There are newer employer reviews for State Street

See Most Recent

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