State Street - Conservative and Complacent | Glassdoor
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There are newer employer reviews for State Street

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Helpful (1)

"Conservative and Complacent"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Intern - Global Services Intern in Boston, MA
Former Intern - Global Services Intern in Boston, MA
Recommends
Neutral Outlook
Approves of CEO

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

Pros

The SSGS team is very kind. Personally, I received a good amount of work that really added value. I felt as though I was a valuable part of the team and that I wasn't just being paid to sit and twiddle my thumbs. Most of my other intern friends can't say the same. The atmosphere is really relaxed, and my team was very helpful.

Cons

As a whole, I got the feeling that although State Street wants to become a more innovative company, its culture is still very conservative. Its younger crowd is ready for change, but it seems the older generation is very complacent with old processes because they work. It is recognized that there is an obvious need for change and modernization to keep up with the moving market, but the main problem standing in the way of improvement is the acknowledgement that there are many barriers, and the cautionary steps taken rather than the determination to move forward despite all obstacles.

Advice to Management

I think you should listen to the new recruits more. Recent graduates are taking many courses that can really add value in regards to a fast growing, changing market. Just because it works, doesn't mean it can't be better. Strive for better and faster.

Other Employee Reviews for State Street

  1. "Not a bad company to work for. Probably the best company to learn mutual fund."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Accountant in Princeton, NJ
    Former Employee - Senior Accountant in Princeton, NJ
    Recommends
    Neutral Outlook
    No opinion of CEO

    I worked at State Street full-time (More than 5 years)

    Pros

    Good colleagues, reasonably good benefits, very friendly work atmosphere. A very good place to learn all the basics of mutual fund accounting.

    Cons

    Very tight work schedules. Salary on the low side. Closure of business and layoff several hundred accountants when company is very profitable.

    Advice to Management

    Average management only knows layoff employees during bad times. Great management can turn redundant employees into an asset, not a liability.


  2. "Overall great experience for anyone who has the ambition to seek opportunities for growth"

    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
    Recommends
    Approves of CEO

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

    Pros

    Provides great training
    Many talented people
    There are growth opportunities for ambitious employees

    Cons

    There is no clear path for advancement.
    The salary increases are small for internal moves and promotions. Many employees would do better with an outside move.

    Advice to Management

    Increase efforts to develop talent internally with management training program.

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

See Most Recent

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