State Street

  www.statestreet.com
Work in HR? Unlock Free Profile

State Street Reviews

Updated Jul 28, 2014
All Employees Current Employees Only

2.7 1,223 reviews

51% Approve of the CEO

State Street President and CEO Joseph (Jay) L. Hooley

Joseph (Jay) L. Hooley

(383 ratings)

39% of employees recommend this company to a friend

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 120 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 55 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 36 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 47 reviews)

More Highlights
161 Employee Reviews Back to all reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    3 people found this helpful  

    Work here if you want to lose faith in yourself

    Anonymous Employee (Current Employee)

    ProsThe only good thing about this company, is the benefits. Other than that, nothing.

    ConsWhere to begin. IFS is worse than high school, if one manager doesn't like you, no manager in the company will - they will make sure of it. They delve into every part of your personal life and spread rumours just like teenage girls. They do not promote, when they do, it's nepotistic and favouritism that moves people up. They employ the most low-class and incompetent people to be managers. I can hardly understand my manager, and they've been in the country for decades! There is no transparency, you can be told you're doing well and then out of nowhere get a bad review. No matter how hard you work, it will go unnoticed, no matter how well you work, it will never be good enough. If you do go that extra mile, management doesn't want to know or hear about it. Come work here if you like to be micro-managed, reminded of your tasks on a constant basis, and be humiliated.

    Advice to Senior ManagementStop micro-managing...if you don't trust the people working for you, fire them. Grow a spine and come to your own conclusions about employees; stop allowing the spineless and mentally deranged managers tell you what to think of your employees.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    not that great

    Anonymous Employee (Current Employee)

    Prospeople are great and fun to be around

    Conswork is not challenging and hours are terrible

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    Legal Intern

    Legal Intern (Current Employee) Toronto, ON

    Prosthe job allowed for alot of autonomy but very little direction and even less training, very little down time, unrealistic goals

    Consvery repetitive work, never had proper training, very poorly managed, authoritative management style, and overall one of my worst working experiences

    Advice to Senior Managementhave more fulfilling jobs, better training, improve culture

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    the company sucks but it's great place to start with

    Derivatives Specialist (Current Employee) Toronto, ON

    Proseasy to find another job within the same industry

    Conslong hr and low pay

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    3 people found this helpful  

    Worst place to work but great place to claim you work in finance

    Pricing (Former Employee) Toronto, ON

    ProsRelaxed work environment, max 50 hours a week, hour lunches, benefits im told are good. Great place for people to claim they work in finance (it is not, it is mindless button pressing / mouse clicking in the back office with no need for intelligence and no client interaction - and the street knows this).

    I will however say State Street is a global bank and their front office departments (Global Advisors, Global Markets) are highly regarded in the industry and provide great learning opportunities (and substantially higher pay).

    ConsNo career advancement opportunities - advice to prospective employees is to not take the job to begin with. Advice to current employees is to get out as soon as you can. The longer you stay at back office, the longer you will stay in back office despite false optimism instilled by management that State Street will provide you with long term career development opportunities - moving within back office isn't career development.

    Extremely low pay. Almost laughable given people 15-20 years older would make the same $ amount salary in their first jobs out of school - do the math - 3% inflation every year for 15 years...assuming a 40K base for those guys you'd need to be making 62K to "break-even"...not happening at State Street.

    Advice to Senior ManagementBeing a VP or Senior VP in the back office does not add up to anything in high finance. Quit the power tripping - don't be bitter towards ambitious employees trying to move on to bigger and better things - create an environment that supports learning and encourage internships / rotations with front office departments to the extent possible.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Overworked, underpaid, incompetence rewarded if manager's favorite

    Associate (Former Employee) Toronto, ON

    Proslearning opportunity, if you apply yourself you can move laterally or upwards, decent benefits, pension, vacation,

    Consfew people are professional, majority need to go to business school and learn how to conduct themselves in an office, very political climate, consistent and persistent layoffs every 2 years, hire and fire or layoffs, working to know that any day you could be next, constant lean and restructuring going on, management can't make up its mind if they are expanding or reducing staff, pathetic

    Advice to Senior Managementget some serious professional education in how to conduct business, this practice of hiring and laying off people like we were paper supply is disgusting.. it happened in 2003 and it continuously happens and no pay increase, longer hours, no bonuses, but the executive get their fat checks

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    no career path

    Derivative Administrator (Former Employee) Toronto, ON

    Prosvery friendly coworkers that are willing to help and cooperative

    Conshorrible training program, learning opportunities and no incentives

    Advice to Senior Managementshow more sympathy to employees when they make mistakes.
    don't point fingers and blame people for things they have no control over.
    support employee's life long goals and not just prioritize the department or company's short-term financial goals because high turnover ultimately screws up the company's operations and increases costs.

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Fund Accounant

    Hedge Fund Accountant (Former Employee) Toronto, ON

    Pros- pay is decent as an entry level position (about 20$/hour and 30$/hour for ot)

    Cons- terrible integration as a new employee (being thrown into the water left to sink or swim)
    - no guidance from others and have to figure out everything on your own.
    - training is very general and not helpful at all
    - are expected to understand everything and your responsibilities even after a couple days
    - given funds, clients and deadlines and expected to perform even without proper training
    - worked 12 hour days every day of the week as a new hire because i had to figure everything out on my own (very stressful) expect 55-60 hour weeks for the first couple months.
    - terrible experience starting there, would not recommend it to anyone... there are much better opportunities elsewhere!
    - saw 3 people on my team quit within 3 weeks of being employed.

    Advice to Senior Management- do not overlook training to new employees (currently wasting everyones time by not providing proper training)
    - needs to be more personalized to help the employee integrate into the company
    - saw 3 people on my team quit within 3 weeks of being employed

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Don't waste your time working here

    Anonymous Employee (Current Employee) Toronto, ON

    ProsThe educational support CMA/CA/CFA
    Benefits 100% covered

    ConsWorst place to work - would rate 0 stars if I could.
    Some management unbelievably incompetent - ie. doesn't know how to use Excel?!!!
    If you're lucky, you'll work with a good manager.
    Very low pay.
     Work you like a dog.

    Advice to Senior ManagementEliminate the incompetent employees. Give a fair chance to those with potential

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

    • Culture & Values
    • Work/Life Balance
    • Comp & Benefits
    • Career Opportunities

    1 person found this helpful  

    fund accountant

    Fund Accountant, Associate I (Current Employee) Montreal, QC

    ProsFull benefits
    Good experience in fund accounting

    ConsToo much overtime
    Low salary in the industry for Montreal

    No, I would not recommend this company to a friend

Worked for State Street? Contribute to the Community!

Your response will be removed from the review – this cannot be undone.