State Street
2.8 of 5 1,010 reviews
www.statestreet.com Boston, MA 5000+ Employees

State Street Reviews

Updated Apr 10, 2014
All Employees Current Employees Only

2.8 1,010 reviews

                             

51% Approve of the CEO

State Street President and CEO Joseph L Hooley

Joseph L Hooley

(323 ratings)

40% of employees recommend this company to a friend
189 Employee Reviews Back to all reviews
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good, but theres better

Anonymous Employee (Current Employee)

I have been working at State Street full-time

Prosvery friendly staff depending on your team. excellent benefits, dental, pension, flex hours and work from home, pays for your courses, CFA included. sports reimbursement too.

Conslow starting salary but made up for with the 1.5xOT hrs for anything over 40 a week, and 2xOT for anything over 50 assuming you dont mind doing the ot, but heck, if you get the work from home to do the OT, why not.

Advice to Senior Managementall depends on your manager. for the 2 years I worked there I have only met good managers that are really supportive with your career growth that gave good advices. Although there is high turnover, there are times when they were encouraged by the managers to apply for better roles.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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great place to start working

Accountant (Current Employee)

I have been working at State Street full-time for more than a year

Prosit was a good place to start and good learning experience

Conslots of restructuring in the accounting department

Yes, I would recommend this company to a friend

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Great company to learn about the industry if you are a recent grad

Derivatives Administrator (Former Employee)
Toronto, ON

I worked at State Street full-time for more than a year

Pros1. The wealth of knowledge is there, ask the right questions. Ask at all.
2. Young staff to build good network for the future
3. The brand and experience has led to good jobs outside of State Street

Cons1. Long hours - you'll become more resilient to long hours and high stress.
2. Low Work Life Balance - your value of time will increase and you'll find ways to waste less of it

Advice to Senior ManagementNurture your employees. You already know this.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Good company for career starter

Senior Accountant (Current Employee)
Toronto, ON

I have been working at State Street

Pros- Good company culture
- Good benefits
- Most of people are nice to work with
- Offer new grads opportunaties to start the career;
- Good company for career starter

Cons- Be prepared to work overtime( you get paid for overtime)
- Salary is relatively low comparing to same position in our companies
- High turn over due to low salary
- Can be stressful sometimes due to different deadlines

Advice to Senior ManagementThe management should engage in employee retentions. The high turn over will hurt the company in the long run.

Yes, I would recommend this company to a friend

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Good place to start not to stay

Anonymous Employee (Current Employee)
Toronto, ON

I have been working at State Street

ProsF l e x i b l e w ork arrangements, relaxed and friendly atmosphere, scope to learn a lot

ConsSalaries are below the market and HR practices for hiring favor external candidates pay wise, 10% cap on salary increases for internal candidates

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Big Company Normal

Anonymous Employee (Current Employee)

I have been working at State Street full-time

ProsCompany has been around for many years so as an entity very stable. With thousands of employees and a worldwide presence there are opportunities in a variety of areas. Corporate takes a lot of care to share vision with all levels of the firm and to expose different divisions to eachother.

ConsLarge companies tend to move rather slowly. Great deal of corporate policy and procedure.

Yes, I would recommend this company to a friend

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Administrative Assistant

Anonymous Employee (Current Employee)

I have been working at State Street

ProsEveryone is helpful. Can ask anyone a question no matter what their title is and they would help. Team players

ConsNone so far. Everyone is just nice! From the maintenance worker to the top boss everyone is nice

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Tremendous Changes underway. Company evolving. Can old managers lead in this new regime, time will tell. I hope so.

Vice President (Current Employee)
London, England (UK)

I have been working at State Street full-time for more than 10 years

ProsA lot can be said about this company that is good.

Collaboration and Values and creating the future is the order of the day... "Perhaps the decade..." In fact it is a literal minefield of change... but this could be considered a positive thing, and for those who which to success they must embrace it. it can still be a fantastic place to acquire knowledge and skills. (Still...!)

Work-Life Balance is good and perhaps getting better for those where the opportunity fits.. (Flexible work arrangements are possible, and a level of telecommuting can be optimised for certain roles but this is somewhat rare.)

State Street has been known for technology in the past, but lots has been going on and especially for employee, the presences of new technologies has never been more obvious. The double edge sword of newer technology here is that employee are expected or assumed to adapt to it. (Well they better.) IT support is self-service, iLearn training is self-service, even social networks are growing dubbed Collaborate aka SharePoint for work and social networking, you better get clicking. So to get the most out of your career, you "must" become savvy to these technologies.

ConsTransformation is rampant, sometimes it means job changes, sometimes outsourcing, but again the attitude here is key... (Anyone who is not aware of Who Moved My Cheese, better read it...)

There are many different departments and products so it is certainly possible to be locked in areas that are either down-siizng, offshoring, restructuring (transforming) and that can be stressful... Those that do not adapt well may feel can feel marginalised...

Many managers do not take the time that they could to spread their knowledge.
  - Not to their own teams, and certainly not across other teams...
  - so collaboration in name sounds very cool, looking better and flashier at the top levels.
         (not so much at the middle levels. but creating the future is a work in progress.)

IT support has been transitioning for years from a full service approach to a self-service approach..
  Those that do not adapt will suffer...

(But for the people that adapt, IT support is fine, and expertise and documentation is out there for all)
    If IT spend is reduced by millions and millions, employees need to work smarter : Jury is out on this.

Advice to Senior ManagementEmployees are not just looking for a pay check, some want good old fashioned, face-to-face inspiration. The top-down flashiness for management to share their values experiences is good in a way. Strengthening daily manager behaviour is better...

If managers do not possess or exhibit the skills to mentor their staff, we are creating a class system rather than a community... managers in the new State Street need to be given tools to do their job better.

Whether acquiring basic IT support, or job mentoring, or computer based and classroom based training, middle managers have not been trained or given the guidance to steer their staff better. Some will adapt because of their personal style, others will not unless they are told how.

But most outside joiners find our support model a horrific change... probably due to managers not knowing what they should know. (a good model with good tools that is not trained well is perceived by newcomers as a bad model...)

So either weed out managers who do not lead in the new regime, or train / prepare them appropriately to do so... the tools are definitely there but many managers do not care or know...

Staff On-Boarding needs a major re-write... and the HR folks that institute a short welcome session is not appropriate to the task. (Day one should be about sorting out all incidentals from IT set-up to phone set-up to site tour to access to product info to culture and governance to assigning a big brother type mentor... And it should be by design.)

There are so much on-line resources but most people cannot navigate it... so get a job aid in hand on day one... Instil values on day one, as your managers may or may not be doing that.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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- The World is Flat

Vice President (Current Employee)
Dublin, Dublin (Ireland)

I have been working at State Street full-time for more than 10 years

ProsChallenging but rewarding work environment - constantly changing

ConsAt times can be somewhat bureaucratic

Advice to Senior ManagementRetain talent and develop strong leaders

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Big company to start your career

Fund Administrator (Current Employee)
Boston, MA (US)

I have been working at State Street part-time for less than a year

ProsFacility/Transportation/Culture/Personal Growth

ConsSalary/Training/Poor Management/

Advice to Senior ManagementBe more organized about trainning

Yes, I would recommend this company to a friend

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