State Street - Bottom line concern and it's negative affect | Glassdoor
There are newer employer reviews for State Street
There are newer employer reviews for State Street

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"Bottom line concern and it's negative affect"

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

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

Pros

- Ability to work for a company with a great history.
- Opportunities to work in and learn a lot about multiple business lines.
- Work/life balance for the most part is great. Some managers are not big proponents which can negatively affect their groups moral.

Cons

The promotions at the AVP level and above can be a joke. Have to be put in a 'queue' and go up against others in the group instead of just being promoted truly on what you've accomplished.
To many functions offshored created chaos, resulted in extremely valuable employees being laid off.
Pay for people at the same level is/can be varied quite a lot. Need to come up with more equality.

Advice to Management

The affect of your laying off valuable employees (with decades of business line and corporate knowledge ) over the last 12-24 months, after prior years of cutting where some performance issues could be a reason, may have helped increase the value of SSC stock but also has had many negative consequences.
Bring jobs back to the U.S., truly value the employees and their knowledge, and promote people based on ability/performance and not a process such a putting them in a 'queue' like being in line at the deli.

Other Employee Reviews for State Street

  1. "Good experience albeit with minimal support from managment"

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

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

    Pros

    Good benefits/compensation, good holiday pay and vacations time as well

    Cons

    Poor training and up-front expectations as well as responsibilities of the job position

    Advice to Management

    More initiatives for employees to grow and better training


  2. Helpful (4)

    "Full of flaws"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Derivatives Pricing Specialist in Sacramento, CA
    Current Employee - Derivatives Pricing Specialist in Sacramento, CA
    Doesn't Recommend

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

    Pros

    Coffee machines
    Casual dress everyday at Sacramento office
    Relatively easy to get hired right out of college

    Cons

    Low pay
    Boring, meaningless, repetitive work
    Upper management doesn't care about fostering growth amongst employees
    Extremely high turnover
    Absolutely no reason to stay longer than a year

    Advice to Management

    Pay higher salaries to reduce turnover. Make it a point to let employees know what exactly their tasks are accomplishing. Most people leave for better positions once they completed their CFAs, CPAs, and MBAs.

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

See Most Recent

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