State Street - Great experience but current direction is troubling | Glassdoor
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There are newer employer reviews for State Street

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Helpful (2)

"Great experience but current direction is troubling"

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  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - IT Professional in Boston, MA
Current Employee - IT Professional in Boston, MA
Doesn't Recommend
Neutral Outlook
Approves of CEO

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

Pros

I've been there average amount of years and experience has been mostly positive. Bonus is good, benefits are about average for a financial company but above average overall. There is a good amount of mentoring and other programs available to employees. Flex work schedule is a great benefit as well.

Cons

As IT employee, current direction to outsource almost all IT functions to IBM India is questionable. There is probably a good strategic reason for it at executive management level but I just don't see company saving any money over it, and IBM India resources are not on par with average former State Street internal IT resources. If it takes 4 times a long for outsourced resource to do same job as US/UK local resource for 1/2 the cost - price to performance benefits are not being realized.

Transition to IBM has created a condition where people with most experience and knowledge of the environment left or are leaving and IBM does not offer sufficient resources at the right level to pick up the workload.

I cannot speak for other business areas, but for IT professionals my advise is to stay away from State Street at this time.

Advice to Management

Try talking to IT people actually involved in transition to get a real sense of what's going on, instead of being satisfied with 1,000 ft ivory tower view.

Other Employee Reviews for State Street

  1. "So Far So Good. Easy to get hire. People are nice."

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

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

    Pros

    Work hours is stable. Working atmosphere is nice.

    Cons

    Low pay. A bit boring.


  2. "Fast Paced with lots of OT"

    StarStarStarStarStar
    • 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
    Doesn't Recommend
    Neutral Outlook

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

    Pros

    I got this job straight out of college and I learned a ton because I was working 60+ hours per week. Pay was okay and with overtime I was make quite a bit of money for a recent college grad, which was nice. Definitely learned how to deal with a stressful work environment quickly.

    Cons

    Overtime was excessive at times with little appreciation from management. Work could be repetitive with very little focus on improving efficiency. People tend to stay there a year or two and then move on to something with a better work life balance.

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

See Most Recent

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