State Street Reviews

Updated 13 April, 2015
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1.0
204 Reviews
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State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
90 Ratings

204 Employee Reviews

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  1. Investment Accountant

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

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

    Doesn't Recommend
    Neutral Outlook
    Doesn't Recommend
    Neutral Outlook

    Pros

    Big company with many international branches.

    Cons

    Below average compensation, Little to no opportunity for growth and development, High employee turn over rate, constant business remodelling.

  2. Helpful (3)

    Good ops, bad company

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Senior Associate in Toronto, ON
    Former Employee - Senior Associate in Toronto, ON

    I worked at State Street full-time (More than 3 years)

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Given the turnover, lots of opps to move up in a short time.

    Cons

    Lots of turnover, constantly understaffed, underpaid, and over worked.
    Incompetant senior management, who cant lead/properly communicate with employees
    underpaid by 20-50% for same positions elsewhere

  3. Helpful (1)

    don't even think about it

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

    I have been working at State Street

    Pros

    Lots of work, don't want you to stay for OT

    Cons

    Too much unnecessarily courses to take

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


  5. Helpful (1)

    Worse company to work for

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Intern - Financial Reporting Administrator in Toronto, ON
    Current Intern - Financial Reporting Administrator in Toronto, ON

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

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Some people were great to work with. Good location. Gain some knowledge.

    Cons

    No training. Upper management expects you to know everything even though they don't make the effort of training you. High turnover rate because of low pay and poor upper management who abuses their power. Long hours because upper management spends their day doing nothing other than complain about other employees. There are no career advancement since no one moves up so everyone ends up leaving.

    Advice to Management

    Just stay away from here. Regretted my decision for taking this job. Just waiting for my contract to end so I can get out of here.

  6. Helpful (3)

    Financial Reporting

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

    I worked at State Street as an intern

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    -High hourly pay
    -Pays overtime
    -Good people to work with

    Cons

    -Terrible work culture
    -Terrible management
    -Terrible work and life balance

  7. Helpful (4)

    Work here if you want to lose faith in yourself

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

    I have been working at State Street full-time

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

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

    Cons

    Where 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 Management

    Stop 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.

  8. not that great

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

    I have been working at State Street full-time

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    Pros

    people are great and fun to be around

    Cons

    work is not challenging and hours are terrible

  9. Legal Intern

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Intern - Legal Intern in Toronto, ON
    Current Intern - Legal Intern in Toronto, ON

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

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

    Cons

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

    Advice to Management

    have more fulfilling jobs, better training, improve culture

  10. Helpful (2)

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Derivatives Specialist in Toronto, ON
    Current Employee - Derivatives Specialist in Toronto, ON

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    easy to find another job within the same industry

    Cons

    long hr and low pay

  11. Helpful (4)

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

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Pricing in Toronto, ON
    Former Employee - Pricing in Toronto, ON

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

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    Pros

    Relaxed 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).

    Cons

    No 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 Management

    Being 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.

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