State Street - Changing Environment | Glassdoor
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There are newer employer reviews for State Street

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"Changing Environment"

Star Star Star Star Star
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Assistant Vice President in Boston, MA
Current Employee - Assistant Vice President in Boston, MA
Recommends
Neutral Outlook
Approves of CEO

I have been working at State Street full-time (More than 3 years)

Pros

Global reach
Smart people
Good benefits
Plenty of mobility

Cons

New IT outsourcing making life difficult and progress slow.
Benefits are being cut year after year.
2nd year of pay-freeze for certain ranks and low merit for others
Layoffs occur every 6 months.

Advice to Management

Think long-term in regards to partnerships and personnel

Other Employee Reviews for State Street

  1. Helpful (2)

    "Career crippling"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Quincy, MA
    Former Employee - Anonymous Employee in Quincy, MA
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

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

    Pros

    This can be a great company to work for if you get in a well run department.

    Cons

    Some - not all - of management is promoted based on social status and not on merit or education. Layoffs and job outsourcing make any position with this company feel unstable.

    Advice to Management

    Listen to your employees, if there is a common complaint then it's best to take a closer look at what is really happening. Turning a blind eye will only hurt the company in the long run.


  2. "Good place to start, but not a place for a career"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Fund Accountant Associate II in Kansas City, MO
    Current Employee - Fund Accountant Associate II in Kansas City, MO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at State Street full-time (More than 3 years)

    Pros

    *Great place to get some experience on your resume
    *Benefits better than average
    *On site cafeteria, coffee shop, and fitness center
    *Work from home access
    *Managers are generally flexible with work hours and personal issues (experience may very upon which team you are on)

    Cons

    *Abysmal pay (after one promotion and three merit "increases" I still qualify for food stamps)
    *Annual layoffs
    *Constant outsourcing to India
    *Employees generally unmotivated
    *Senior Management totally unaware of difficulties in the lower ranks
    *High turnover and constant short staffing

    Advice to Management

    Please increase the starting salary. When the economy turns around, no solid talent will be available. State Street has a terrible reputation from an employment stance. There is no reason an employee should qualify for food and housing assistance when you pull down billions of dollars in shareholder profits.

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

See Most Recent

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