State Street Reviews in Edinburgh, Scotland | Glassdoor

State Street Edinburgh Reviews

Updated March 22, 2017
13 reviews

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Edinburgh, Scotland (UK)

3.5
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State Street President and CEO Joseph L. Hooley
Joseph L. Hooley
6 Ratings

13 Employee Reviews

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  1. "Associate 1"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Midlothian in Edinburgh, Scotland (UK)
    Current Employee - Midlothian in Edinburgh, Scotland (UK)
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Excellent support for training. Supportive atmosphere. Opportunities for lateral movement. Always room for overtime. Good starting salary. Great benefits.

    Cons

    Progression opportunities not as prevalent as down in London Branch.


  2. "Old guard too strong"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Assistant Vice President in Edinburgh, Scotland (UK)
    Former Employee - Assistant Vice President in Edinburgh, Scotland (UK)
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    Lots of projects mainly due to ever changing demands of regulatory regimes. Some good initiatives like cloud based solutions and focus on open source technologies. There is always something to keep yourself busy with.

    Cons

    Career path is stagnant. Much of the creative work is outsourced or is out of Boston. Too much power or control in handful people. Very command and control structure


  3. "Associate"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate in Edinburgh, Scotland (UK)
    Current Employee - Associate in Edinburgh, Scotland (UK)
    Recommends
    Negative Outlook
    Approves of CEO

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

    Pros

    Easy to get into and given a platform to gain as much experience as you want. Good facilities and overtime pay.

    Cons

    Management is poor, base salary is too low against competitors. Nobody stays long enough to build a team atmosphere and any type of cohesion. Every man/ woman for themselves.

    Advice to Management

    They know what they need to do but are either unwilling or simply unable to do it.


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  5. Helpful (1)

    "Wouldn't recommend working here"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Associate in Edinburgh, Scotland (UK)
    Former Employee - Senior Associate in Edinburgh, Scotland (UK)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at State Street full-time (More than 8 years)

    Pros

    Benefits package
    Diverse environment with global colleagues
    Cafe
    Decent Holidays
    Good PCs
    Potential to work condensed hours if your role/department permits.
    Remote access so you can work from home if you need to wait in for boiler service etc.
    A lit of nice people.

    Cons

    Training is poor with onus on employees to manage their own career progression with no input from management.
    Pay is very poor and salary increases are non existent or very low year on year.
    Bonus is laughable with the same excuses made every year as to why its poor. Is supposed to be performance related but seems to be more reflective of the company performance than personal performance. You actually end up worse off with inflation increase and this has been the case for many years.
    Some managers are serious jobsworths who expect respect but do nothing to earn it.
    Very much a face fits culture.
    Very little opportunity for career progression unless you are a yes man.
    HR ALWAYS side with management so if you have a grievance, don't waste your time raising it, it is career suicide.
    Zero loyalty to staff, especially long suffering staff. You really are just a number.
    Long hours expected every day and unpaid overtime in some departments. Difficult to get the holidays you want. Get in quick on 2nd January or be prepared to be refused.
    Too much red tape. Everything from ordering a post it pad to asking HR a question. Nothing is straightforward and so much time and resource is wasted trying to get the little things done.
    You don't even get a free Christmas lunch anymore! The list goes on.....

    Advice to Management

    Stop outsourcing everything. It's not working and is so stressful trying to get anything resolved as no one knows who to reach out to. Show a little loyalty to staff who have stayed loyal to you and have given you blood sweat and tears. You have given up on quality, its all about quantity now and output quality is very poor compared to past. You have stopped caring about the clients and only care about saving money and the end product clearly shows this. Recruitment process is very poor. Quality of people being offered is awful, length of time taken to approve requisition, security checks. All takes far too ling. Another outsourcing blunder!
    If someone calls I sick, it usually means they are too ill to work so working from home should not be expected/suggested. Please try listening to your associate level staff.


  6. "Good support"

    Star Star Star Star Star
    Former Employee - Anonymous Employee in Edinburgh, Scotland (UK)
    Former Employee - Anonymous Employee in Edinburgh, Scotland (UK)
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at State Street full-time

    Pros

    Good progression opportunities for those who want them.

    Cons

    Salaries below the industry average.

    Advice to Management

    none


  7. "Many Prospects"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - ABO Administrator in Edinburgh, Scotland (UK)
    Current Employee - ABO Administrator in Edinburgh, Scotland (UK)
    Recommends
    Positive Outlook

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

    Pros

    A Variety of Remuneration:
    Pension Scheme
    Insurance
    Regular Healthcare Benefits
    Sporting Related Benefits
    A Variety of Promotions (Not necessarily in the same department, adds variety).
    Subsidised Restaurant on Site
    Regular Training
    Opportunity for International Assignments

    Cons

    Low Salary compared to other local firms
    Work Split is not Even
    Sometimes too many training classes


  8. Helpful (1)

    "Not great, not bad"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Associate in Edinburgh, Scotland (UK)
    Current Employee - Senior Associate in Edinburgh, Scotland (UK)
    Recommends
    Positive Outlook
    No opinion of CEO

    Pros

    Good people, competitive salary, paid overtime

    Cons

    Long hours, the company could do with recruiting more bodies on the ground instead of expecting already overworked employees to do excessive levels of overtime.

    Advice to Management

    Listen to your employees more.


  9. "Good opportunities in a variety of roles/locations."

    Star Star Star Star Star
    Current Employee - Vice-President, Finance in Edinburgh, Scotland (UK)
    Current Employee - Vice-President, Finance in Edinburgh, Scotland (UK)

    Pros

    Good opportunities in a variety of locations.

    Cons

    Regulation and the admin around it.

    Advice to Management

    I have no advice for management.


  10. "Excellent company if you are willing to drive your own career"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Project Manager in Edinburgh, Scotland (UK)
    Current Employee - Project Manager in Edinburgh, Scotland (UK)
    Recommends
    Positive Outlook
    Approves of CEO

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

    Pros

    Global company with excellent progression and exposure opportunities

    Cons

    Generally not the highest market payer


  11. "Huge varience of workforce accross all floors"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Senior Associate in Edinburgh, Scotland (UK)
    Current Employee - Senior Associate in Edinburgh, Scotland (UK)
    Recommends
    Neutral Outlook
    Approves of CEO

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

    Pros

    There is a lot of change/movement going on in the firm from outsourcing work to 'Centres of Excellence' which in the short term may provide oppertunities to travel.

    There are a lot of smart intelligent people to learn from.

    Cons

    Roles are being 'dumbed' down due to outsourcing of work to COE's.
    There is an unfair work distribution within teams at various levels across the floor - those who can or show initiative DO most of the work, those who cant get sidelined and forgotten about. At the end the difference in rewards between the two are almost indistinguishable at present.

    People are promoted internally to fill positions, rather than showing merit.

    Regardless of your work, expect to get an average rating on your yearly performance review. Dont bother to ask what you could have done to have got the next level, as it would only result in friction between yourself and your manager.

    Employees are generally not rewarded for their work - for example bonuses are not increased for helping meet company targets, such as reducing the number of breaches, which helps reduce compensation payments, and increase company profit - should all of this go just to the shareholders?

    Advice to Management

    Annual Performance Reviews -Scrap the 1-5 performance rating system. If you want such a system, then expand and make this 1-10. Encourage workers to help the business by setting clear performance goals,with each grading marker defined in a transparent fashion.

    Bonuses - To get around the whole 'poor bonus' issue, would it be better to offer employees a discount share purchase scheme, or a bonus in form of shares? That way all employees are directly offered a fair return/reward for their hard work.

    Promotions - Do not fill roles internally out of need, but merit. If internal candidates are not yet up to par, then look externally.

    Work Equality - Monitor working hours(building sign in/out times of staff), and see the differences of employees at each level. Use this to look at re-allocating resource.



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