State Street Reviews in London, England | Glassdoor

State Street London Reviews

Updated February 2, 2017
13 reviews

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London, England (UK)

2.0
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State Street President and CEO Joseph L. Hooley
Joseph L. Hooley
1 Rating

13 Employee Reviews

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  1. Helpful (3)

    "Poor senior management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice-President in London, England (UK)
    Current Employee - Vice-President in London, England (UK)
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Flex working.
    Good benefits.
    Good opportunities to re-locate if that is what you want to do.

    Cons

    So much driven out of Boston with little understanding or consideration of what happens in Europe.
    Information security is driving a disproportionate amount of work within the business.
    Processes are in-flexible, unworkable and destroy any productivity.

    Advice to Management

    You need to listen to those staff who are desperately trying to do the best for their clients. Allow some flexibility around process.
    Think carefully, or consult with some of the staff before making a decision and more importantly, do not dismiss the possibility that you may well have made a bad decision and be prepared to make it right. Far too often a bad decision is compounded by several more.


  2. Helpful (1)

    "Big name small pay"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in London, England (UK)
    Former Employee - Anonymous Employee in London, England (UK)

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

    Pros

    Great social and diverse networking groups. Respected name on your CV. Flashy Canary Wharf offices.

    Cons

    Low pay, company unknown to people outside financial services, underinvestment in office equipment staff in most departments can't get double screens, off shoring wipes out entire departments. Long working hours and Very high monthly staff turnover.

    Advice to Management

    Align middle management style with the organisation interest to manage the high staff turnover. Integrate departments through strategic communication and collaboration.

  3. "Senior Associate"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in London, England (UK)
    Former Employee - Anonymous Employee in London, England (UK)
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    A good way to get into the industry

    Cons

    Click of friends kind of management


  4. Helpful (4)

    "Some good, but mostly bad"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Client Reporting Analyst in London, England (UK)
    Former Employee - Client Reporting Analyst in London, England (UK)
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    -Fairly competitive salary if you have great experience
    -Big name in industry - in London and America
    -Located in Canary Wharf
    -You can build very good relationships with colleagues

    This can be a good company to have on your CV.

    Cons

    -Very bad management
    -Disorganised and lack of communication
    -Lack of responsibility/ownership
    -There is pressure to stay at work late to be seen, even if there is no work to do

    The Client Reporting team has a very poor management team which creates a work environment that rewards passing blame or doing as little as possible to avoid mistakes. There has been attempts to fix this for 3 years with no success.

    They are also in the process of cutting costs. They have reduced travel and other expenses. They have also been hiring new employees for lower salaries than previous employees.

    I would not accept any roles in Client Reporting, New Business and Change Management due to the management. The other teams appear to be managed fairly well.

    Advice to Management

    To senior management: If your team has had a 70% turnover rate (team size of approx. 20 employees) for 3 years, you should possibly investigate the reason for this turnover.


  5. "Vice President"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President in London, England (UK)
    Current Employee - Vice President in London, England (UK)

    Pros

    flex benefits and working from home

    Cons

    fail to understand true worth of employees based on wider CV and experience


  6. Helpful (2)

    "Good Conpany. Too many middle managers"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in London, England (UK)
    Current Employee - Anonymous Employee in London, England (UK)
    Doesn't Recommend
    Negative Outlook

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

    Pros

    Good work life balance. Not too aggressive work environment

    Cons

    Poor management, too many mediocre staff and senior to middle managers.

    Pay and Bonuses below average

    Advice to Management

    Pay decent salaries and attract good quality staff and get rid of poor and underperforming staff. Stop promoting people because the company cannot reward people financially!


  7. "Could have been better.."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in London, England (UK)
    Former Employee - Anonymous Employee in London, England (UK)

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

    Pros

    great team work with some of the ex staff members, hardworking, friendly and always work together

    Cons

    due to the new management in the fund admin team, most of the good staff members have left and management are still trying to get new clients to replace some clients who left

    Advice to Management

    listen to staff members suggestions and engage more with the employees and effective communicate from top to bottom

  8. "poorly managed"

    StarStarStarStarStar
    Current Employee - Anonymous Employee in London, England (UK)
    Current Employee - Anonymous Employee in London, England (UK)
    Doesn't Recommend

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

    Pros

    good work life/balance relaxed atmosphere

    Cons

    low wage, little training, poor systems.


  9. "no real accounting, just data input"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Senior Associate in London, England (UK)
    Former Employee - Senior Associate in London, England (UK)
    Doesn't Recommend
    Positive Outlook

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

    Pros

    great learning curve, easy to move teams

    Cons

    hard work doesn't really get appreciated


  10. "Mixed!"

    StarStarStarStarStar
    • Work/Life Balance
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Project Manager in London, England (UK)
    Current Employee - Project Manager in London, England (UK)
    Doesn't Recommend
    No opinion of CEO

    Pros

    - Work life balance.
    - Strong cost leadership.
    - Acquisitive organisation - opportunities often exist to support integration of target organisations.
    - Opportunities for international travel and relocation exist

    Cons

    - Cost leadership at the expense of effective client support.
    - Aggressive outsourcing of operational functions was completed too quickly, without effective knowledge transfer to JV.
    - Limited specialist knowledge remains within local office.

    Advice to Management

    Cost leadership is all well and good, but don't let cost leadership determine the level of service which you are providing to clients.


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