State Street Reviews

Former Employee – worked at State Street

Pros – High turnover so lots of opportunity to move up; plenty of business units if one is interested in horizontal movement as well; great benefits; management is very supportive of training and further education

Cons – the biggest con is low pay and lots of overtime; my hours when I worked there were 9am-7pm during non busy season; and during busy season 9am-midnight on week nights and 10am to 5pm on Sat and Sun; 5 reorganizations during the 3 years I worked there; low staff moral due to high turnover

Advice to Senior Management – reorganizations are necessary but management must keep communication open with staff; everytime there is a reorg, staff moral tank not knowing what's going to happen and staff get shoved around; and the terrible thing is the staff is kept in the dark and doesn't know about it until after the fact

Current Employee – 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 Management – The 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

Current Employee – been working at State Street

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

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

Current Employee – been working at State Street

Pros – Good for university grads; entry level positions; steep learning curve on the job.

Cons – Lack of professional development is a serious con. Also not feeling appreciated by management.

Advice to Senior Management – Competitive pay; ability to retain talent.

No, I would not recommend this company to a friend

Current Employee – been working at State Street

Pros – - flexible work environment
- very good benefits plan

Cons – - Big company with a small company mentality
- Compensation below par = retaining the weak
- don't hold your breath for a promotion...life might pass you by!
- a lot of incompetent subordinates

Advice to Senior Management – Show your appreciation to good workers....don't leave them behind!

No, I would not recommend this company to a friend

Current Employee – been working at State Street

Pros – Benefits are more than adequate
Great opportunity to develop transferable skills - in house educational opportunities

Cons – Sub industry standard compensation
Few opportunities for advancement
Disconnect in the informtional flow between management and personnel
Indifferent corporate culture

Advice to Senior Management – no advice.

Current Employee – been working at State Street

Pros – Depends on department. Some departments are very good for promotions and recognition with plenty of support to learn and develop.

Cons – Other departments there are little thought put on decisions and not enough attention given to the staff.

Advice to Senior Management – Listen

Former Employee – worked at State Street

Pros – Decent experience if your a recent graduate
The LRIF matching was a great benefit

Cons – Management! Management! Management!

State Street has to have the worst managers in the business. Every one of the managers I worked under was either rude, moody or incompetent. And in one case it was all 3 at once! To make matters worse the Senior Managers never show their faces to you and don't seem to mind that the company has such a large turnover rate.

Couple the problems with the managers with absolutely horrible pay rates and you get one awful place to work.

The opportunities for advancement are also severely limited. Getting up to the level of Senior Fund Accountant is easy (if your manager likes you) but from there it is very difficult. Most of the managers are "lifers" who won't leave as they know they could not make it elsewhere.

Advice to Senior Management – 2 things. Raise the salaries to market levels already to retain top talent. It is very demoralizing to hear daily about who resigned and who got promoted to cover the position. Second thing is give the managers serious training in people skills. It is very unprofessional to see the managers yell at their staff in front of others for errors that are not even their fault!

No, I would not recommend this company to a friend

Former Employee – worked at State Street

Pros – good training program, ideal place to start your career,

Cons – low salary , need connections to grow

Advice to Senior Management – all employees of the company should be treated with dignity and respect , not just senior and management level.

Former Employee – worked at State Street

Pros – Quite relaxed environment, some people are habitually 2 hours late showing up and average 2-3 hours of actual work. Lots of downtime and opportunity to handle personal stuff at work. People are mostly fresh out of school and quite collegial with one another, great social life.

Cons – Pay reflects the amount of effort put in. Very little opportunities to learn and grow, people stay in the same roles for years before they are promoted.

Advice to Senior Management – Encourage innovation and start giving workers more responsibilities. Opportunities to cross train in other departments are non existent (despite the company propaganda.