State Street Reviews | Glassdoor

State Street Reviews

Updated February 16, 2017
350 reviews

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State Street President and CEO Joseph L. Hooley
Joseph L. Hooley
152 Ratings

350 Employee Reviews

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  1. 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.


  2. Helpful (1)

    "Everything You Heard Is True"

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

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

    Pros

    Great opportunity to receive training and State Street's geographical footprint creates opportunities to travel internationally. The pros do not outweigh the cons at State State.

    Cons

    Every department is different at State Street, with the department manger setting the tone. With that said, I would avoid internal audit at all cost. Overall, the culture of the organization needs to be revamped. The culture and atmosphere of the organization is overwhelmingly negative

    Advice to Management

    Improve employee engagement and opportunities for advancement


  3. "Not recommend to work there"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    Good reputation in fund accounting

    Cons

    High turnover rate, management is messed up, promoting decisions made based on personal connection not performance


  4. Is this helpful? The community relies on everyone sharing – Add Anonymous Review


  5. Helpful (1)

    "Only if you are really desperate...."

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at State Street full-time

    Pros

    Will hire with no experience, provide training(sometimes). The atmosphere is tense and chaotic, probably the reason some people tend to help others. Benefits are very good.

    Cons

    Madhouse. Management doesn't care at all about employees, constant increase of workload due to people quitting. The replacement for people gone and hiring new employees doesn't happen on a regular basis. Limited(6) number of sick days per year. Most likely the clients will stop using SS due to decrease in quality of service provided.

    Advice to Management

    Fire yourselves! Fire yourselves! Fire yourselves! Fire yourselves! Fire yourselves! Fire yourselves! Fire yourselves! Fire yourselves! Fire yourselves! Fire yourselves! Fire yourselves and put someone with brains up there.


  6. Helpful (1)

    "Awful"

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

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

    Pros

    Resume builder, networking, industry education

    Cons

    Terrible work culture, no motivation to improve employee satisfaction, horrid pay

    Advice to Management

    Educate your employees


  7. Helpful (1)

    "Lowest pay in the industry"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I have been working at State Street full-time

    Pros

    Laid back culture of underperformers

    Cons

    Surrounded by underperformers every where

    Advice to Management

    Fire half the company


  8. "Claims to be people centric but it is not"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in Bengaluru (India)
    Current Employee - Anonymous Employee in Bengaluru (India)
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

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

    Pros

    - Learning opportunities
    - Short term Career opportunities are good

    Cons

    - No work life balance
    - no overtime policy despite long working hours
    - no culture of recognition/reward

    Advice to Management

    The higher you go the further you are from reality


  9. Helpful (1)

    "There are no growth opportunities"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Financial Analyst
    Former Employee - Financial Analyst
    Doesn't Recommend
    No opinion of CEO

    I worked at State Street (More than a year)

    Pros

    The company offer good benefits

    Cons

    Lower pay for the industry

    Advice to Management

    Invest more in innovation


  10. Helpful (2)

    "Just a number"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I have been working at State Street full-time

    Pros

    Pension
    Insurance package
    Cycling facilities
    Canteen
    Some of the people
    Flex working

    Cons

    Salaries and bonuses well under market rates
    Overtime expectations
    Overtime unpaid
    You are just a number
    Conveyor belt attitude, churn it out!
    Blame culture
    Management have no social skills

    Advice to Management

    Could be a great company but the attitudes of the hierarchy means it's a case of get the work out no matter what and no concern of the staff! Unpaid overtime and the expectation that work just needs done in unrealistic timescales make it hard to live with children and please the management team. Constant feeling of never being good enough


  11. Helpful (1)

    "bad"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    Pros

    relaxed culture
    good work environment
    room to grow
    good development
    work life balance

    Cons

    low pay
    early starts
    low bonus
    rude management
    asian culture



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