State Street Reviews | Glassdoor

State Street Reviews

Updated August 9, 2017
381 reviews

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381 Employee Reviews

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Pros
Cons
  • lot of politics no work life balance (in 97 reviews)

  • Long hours pressure during end of month (in 148 reviews)

More Pros and Cons

  1. Helpful (1)

    "A good place for a slow death"

    StarStarStarStarStar
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street full-time

    Pros

    Nice work losing your biggest client

    Cons

    I can't think of a single good thing


  2. "Assistant Director"

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

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

    Pros

    Good benefits and that's it.

    Cons

    Terrible pay, terrible work environment - highly unprofessional...I woul

  3. "Custody client operations Kansas City Mo"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Custody Client Operations in Kansas City, MO
    Current Employee - Custody Client Operations in Kansas City, MO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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

    Pros

    20 vacation days plus 4 personal days. Low cost benefits compared to other companies. Decent 401k contributions through Fidelity. Some overtime. Good entry level for out of college. Professional atmosphere, people keep to themselves and mind their own business. Experienced employees work from home two to three days a week.

    Cons

    Very low pay. Difficult to advance. Off shoring many jobs to East Asia. Do not waste your time. Consider other avenues of employment.

    Advice to Management

    Many managers have been there ten years or more. Do not get sucked in.


  4. Helpful (1)

    "Problem at Highest Levels, Including HR"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Senior Management
    Former Employee - Vice President in Boston, MA
    Former Employee - Vice President in Boston, MA
    Doesn't Recommend
    Disapproves of CEO

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

    Pros

    Might be ok for starting careers

    Cons

    - unkind, politically motivated place to work
    - middle management who just wants to work honestly and not 'play games' at a disadvantage
    - HR does not pretend to protect the worker, only the company

    Advice to Management

    Have the moxy to look at your own dirty players, and not protect them. Have actual managers at the top who know what their organizations are doing. Check in with HR regarding employee satisfaction. This includes all factions, business, IT and operations.


  5. Helpful (4)

    "Assistant Vice President"

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

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

    Pros

    Decent benefits such as 401k and health insurance - on par with most in the industry

    Cons

    State Street used to be a great place to work years ago but has become a fear driven company that treats its employees poorly and lacks business direction. Employees will hear terms like, "The Way Ahead," and canned talks (usually through email or quarterly town halls) about employee engagement and investing in their employees.

    Anyone who currently works there, even for a short time, regardless of location can see that no one really cares about employee engagement, employee morale or creating a sustainable environment where staff thrive and excel.

    Working in Centers of Excellence, has silo'ed staff into knowing a very small portion of the business and reduced their chances of advancement significantly both internally with other "CoE's" and externally with other employers who know State Street positions, expectations and titles don't coincide with the reality of other companies both in the same industry and beyond. The CoE model is solely in place to squeeze as much effectiveness out of the staff without giving any thought to the staff members growth. Even with trying to drive forward with silo's with the thought it will eliminate risk and reduce the number of errors that occur; it has done just the opposite and exposed significant weaknesses within the company to share holders, investors, competitors, staff and potential employees; but not the senior management who seem to have accepted mediocrity as best practice.

    Staff and managers at all levels need to be extremely careful in this hostile work environment as people claw their way to the few remaining scrapes that are thrown their way through limited promotional ability and even more limited compensation increases through cut throat and straight out back stabbing approaches to watching out for ones self.

    Smoke and mirrors with a lack of results is rewarded while the team members and managers that try to make a positive difference and challenge the status quo are exiled into dark corners where their careers stagnate or they find themselves looking for a new role after what is a monthly cycle of layoffs every last Wednesday of the month.

    Advice to Management

    Staff are not throw away commodities that can be squeezed for every last ounce of their ability and energy and continue to not be rewarded year after year. If you are going to say you care about employee engagement, morale and investing in your people - make sure it is visible in your actions and the treatment of your teams.


  6. Helpful (2)

    "Everything You Heard Is True"

    StarStarStarStarStar
    • 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


  7. Helpful (2)

    "Lowest pay in the industry"

    StarStarStarStarStar
    • 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. Helpful (1)

    "Awful"

    StarStarStarStarStar
    • 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


  9. Helpful (1)

    "There are no growth opportunities"

    StarStarStarStarStar
    • 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)

    "Horrible culture in HR getting worse. High turnover for a reason."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Vice President In Human Resources in Boston, MA
    Current Employee - Vice President In Human Resources in Boston, MA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I have been working at State Street full-time (More than 8 years)

    Pros

    Flexible work arrangement available to most

    Cons

    Hierarchical. Inauthentic HR leaders paying lip service to the programs that HR creates for the company like Listening and Challenging debate and Diversity. Lack of leadership skills from EVP and SVPs. "Leaders" lacking sense of how HR really feels. Bad overall HR culture.

    Advice to Management

    Change who makes up EVP, SVP, MD. This group has not been accountable for leading change or leading for that matter. There is very low credibility of this group. You can not teach someone how to be authentic or how to be a good leader. HR is losing many people at the VP and AVP level. This is the group that does the actual work.


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