State Street - Bad and Unethical People | Glassdoor
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Helpful (4)

"Bad and Unethical People"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Former Employee - Business Analyst in Boston, MA
Former Employee - Business Analyst in Boston, MA
Doesn't Recommend
Positive Outlook
Disapproves of CEO

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

Pros

Benefits are pretty good, but the company recently decreased the matching compensation for retirement. When completing benefit options, the company intentionally defaults to the more expensive options for an employee, i.e. the employee smokes, thus increasing their health care costs.

Cons

Stagnant business model with too many consultants running the show. The compensation for different divisions creates competition and does not foster a collaborative business. Senior management is unethical and HR is just a function in name. Stay away from this place at all costs.

Advice to Management

Quit. You are bad an unethical people ruining the lives of thousands of employees. You take advantage of economic downturn by laying people off and blaming the economy. You outsource jobs to China and India, yet senior/executive management still walks away with plush compensation. You increase the work hour and tell employees to work longer shifts, yet compensation decreases.

Other Employee Reviews for State Street

  1. "Good place to gain experience."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accountant in Kansas City, MO
    Current Employee - Fund Accountant in Kansas City, MO
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Laid back at times. Good work environment.

    Cons

    Going through constant changes. Crazy busy sometimes.


  2. "IT Subject Matter Expertise - gone soon"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Application Developer in Quincy, MA
    Current Employee - Application Developer in Quincy, MA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Excelent work-life balance, depending on manager. Supportive and kind co-workers.

    Cons

    Continuously looming layoffs with not enough communication from management. Very Low morale. Bleak future outlook.

    Advice to Management

    Rethink the 'Strategic Partering' cost-saving idea, as the service and quality to clients is suffering. The subject matter expertise and critical thinking/analysis skills gained by experienced SSC employees over the course of their tenure here - and required in order to maintain top-notch service on complex functionality - have not been captured in the skills transfer to our strategic partners. Poor skills transformation model: complicated tasks and complex functions performed by several experienced SSC employees have been transferred to a single Wipro employee who is overloaded and at risk for errors. Performance, quality, and the company's reputation are at risk.


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

See Most Recent

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