State Street Reviews | Glassdoor

State Street Reviews

Updated February 27, 2017
353 reviews

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  1. Helpful (4)

    "Future Focus Fund Admin"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Fund Administrator - Associate II
    Former Employee - Fund Administrator - Associate II
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    Gym inside my building was nice. Also pretty good lunch food.

    Cons

    Im writing this review for people out of college like I was looking for a job. State Street will hire anyone. The pay is horrible when compared to others in the industry, the management does not care about their employees mostly because they dont have enough time to be, the upper management is clueless and instead of innovating and treating their employees right to create profits they are laying people off and sending jobs to India to save money for their shareholders. IF YOU HAVE ANY OTHER OPTION DO NOT JOIN STATE STREET.

    Advice to Management

    Pay your employees and actually care about there success and then there will not be this massive turnover revolving door. Also, stop saying things like "reducing expenses" I know this mean layoffs, everybody knows this means layoffs, stop treating us like we are dumb.


  2. "Review"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Associate II in Boston, MA
    Current Employee - Associate II in Boston, MA
    Recommends
    Neutral Outlook
    No opinion of CEO

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

    Pros

    There are so many cereer opportunities available to employees-- you can attend everything from classes, online seminars, and workshops, to even large conferences. Three weeks of vacation is also a plus, as well as the tuition reimbursement and stufent loan refinancing programs.

    Cons

    The pay is awful and the company is continuing to decrease healthcare benefits. The company also does not subsidize public transportation costs or gym memberships at all.

    Advice to Management

    Management should focus on paying college graduates a fair wage according to geographical wage data. This wil help the company to attract and retain the brightest young talent.


  3. Helpful (1)

    "Senior Associate"

    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
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at State Street (More than 5 years)

    Pros

    Pros were Work from Home access, relatively generous vacation time once you reach the senior associate level and not much else in the Global Financial Services department.

    Cons

    People in the Global Services department are treated very poorly. High risk and low reward work environment. Bad culture. Not very easy to transfer to the departments where people are treat decently.

    Advice to Management

    If you are going to keep this department you should probably treat the people better. It has to be awful for relations among younger possible applicants.


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  5. "Pass if you can"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - IFS in New York, NY
    Former Employee - IFS in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at State Street (Less than a year)

    Pros

    Overtime and ok benefits package

    Cons

    Long hours, horrible management, and the software is from the Stone Age. There's no career growth and no serious training to take you to the next level.

    Advice to Management

    Management needs to seriously review how their managers treat the staff. It's completely disgusting how people are talked to and treated.


  6. Helpful (1)

    "Poor experience"

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

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

    Pros

    Not anything I can think of

    Cons

    Pay, Job satisfaction, advancement opportunities

    Advice to Management

    Pay your employees more


  7. Helpful (2)

    "Don't do it"

    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
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    The remaining staff have some quality people among them but they are few and far between. Five weeks vacation was good.

    Cons

    No work life balance. Morale couldn't be lower due to constant layoffs, heavy workloads, pissed off clients who berate you for mistakes made by COE and offshoring folks but you are forbidden to mention their existence so you just have to take apologize again and again. You might get good performance reviews but it will neither translate into a decent raise, bonus or shelter you from being laid off and walked out like a criminal.

    State Street was an amazing quality employer in the 80's & 90's but the leadership since Marsh Carter retired has been focused solely on cutting costs instead of growing income (this is what happens when bean counters are promoted to CEO).

    Advice to Management

    The COE, "Business Transformation", Syntel, etc are not working. You are on the verge of having laid off or driven out every single experienced hard working employee who knew what they were doing. It may be cheaper in the short term to replace experienced employees with recent college grads but you also get what you pay for in lack of real life experience/knowledge and you are steadily driving a formerly exceptional company into the ground. It's a shame to watch such an old institution breathing its last gasps.


  8. "No ethics"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Vice President in Boston, MA
    Former Employee - Vice President in Boston, MA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at State Street (Less than a year)

    Pros

    None that I can think of.

    Cons

    Will not follow thru on their promises. Get everything in writing.

    Advice to Management

    Keep your word when hiring employees


  9. "Horrible Place to work, abusive behavior encouraged, no privacy"

    Star Star Star Star Star
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Manager in Boston, MA
    Former Employee - Manager in Boston, MA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at State Street full-time

    Pros

    Benefits are not bad but not good either.

    Cons

    Sr Mgmt encourages abusive behavior at work place. Sr mgmt will abuse parents by calling them with horrible expletives and if anyone complains, they will listen and tell, it happens , forget it.

    Sr mgmt will engage in abusive behavior by making gestures of kicking , spitting or showing middle finger.

    Sr Managing Director will spy on employees, put them on surveillance, they will track employee cell phones, conversations, do not use state street cell phone and do not share personal cell phone number or spouse cell phone number. There is no privacy and they will harass wife and kids if they are upset with employee. They will send undercover men/women and kids to test employee are womanizer or gay or pedophile.

    There is one rule for whites and another set of rules for non-whites.

    HR will only listen and believe what Sr Mgmt tells them. .

    Advice to Management

    Mr Hooley, please wake up and please take action against the guilty who indulge in abusive behavior before it is too late. Currency Mgmt and GMT - Technology is the place to start for remedial action against Sr Mgrs.


  10. "Work doesn't promote development"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

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

    Pros

    Work/Life balance
    Compensation
    Work from Home program

    Cons

    Work is tactical and there's just no challenge
    The company is quite old and stuffy and doesn't implement a lot of changes, even if their entire IT system is ancient.
    To be honest, I've had recruiters review my resume tell me this role was a huge step back in my career

    Advice to Management

    Really promote your analysts to strive for more than just the day to day work. There's no personal growth


  11. Helpful (1)

    "Terrible work life balance"

    Star Star Star Star Star
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    Pros

    Good vacation policy/ paternity leave

    Cons

    expected to work a 50+ hour week.
    Will pile on work and not give additional pay
    will eventually lay you off and send your job to a low cost location aka India



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