State Street
2.8 of 5 1,014 reviews
www.statestreet.com Boston, MA 5000+ Employees

State Street Reviews

Updated Apr 16, 2014
All Employees Current Employees Only

2.8 1,014 reviews

                             

52% Approve of the CEO

State Street President and CEO Joseph L Hooley

Joseph L Hooley

(325 ratings)

41% of employees recommend this company to a friend
1,014 Employee Reviews
Relevance Date Rating
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Review Highlights

Pros:
  • "Company has good benefits and is looking to improve work/life balance for employees"
    in 96 reviews
  • "The only one I can think of is the ability to work from home"
    in 46 reviews
Cons:
  • "Find the wrong group and you can kiss work/life balance out the window"
    in 30 reviews
  • "so many entry level workers it seems very hard to be recognized and no chance of promotion or raise until 1"
    in 38 reviews
  • Show more review highlights

Reviews

  • Culture & Values
         
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  • Senior Management
         
  • Comp & Benefits
         
  • Career Opportunities
         
  • Disapproves of CEO

 

Good experience as a first job

Associate (Current Employee)
Toronto, ON

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

ProsLow qualifications for hire
Good pension plan
Easy interview process

ConsTedious work
Experience is very dependent on the type of manager you have.
Low salary

Advice to Senior ManagementAct more as a mentor and benchmark to follow than a manager
Have the same treatment to all levels of employees

No, I would not recommend this company to a friend

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It's a start

Associate I (Current Employee)
Toronto, ON

I have been working at State Street full-time for more than 3 years

ProsIf you're looking for experience, State Street offers courses to improve ones skills and provides educational assistance.

ConsYou can be overwhelmed if insufficient training is provided. Some operational teams may not have the time to properly train new employees. A "lean" model does not necessarily work here. Cost cutting programs when morale is already down does not translate to a bright future.

Advice to Senior ManagementTreat your employees like people, not a statistic. Expecting undying commitment while providing little commitment back is shortsighted. Management needs to take a good hard look at why things aren't working rather than pushing the most dedicated employees harder and harder. HR needs to do a better job as well rather than ignoring warning signs.

No, I would not recommend this company to a friend

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Potential based on immediate manager

Manager (Current Employee)
Toronto, ON

I have been working at State Street full-time for more than 5 years

ProsWork environment can be comforatble and easy to pick up work experience for new employees that currently find it difficult to find experience in the finance industry

ConsOpportunities may be limited depending on your immediate manager as well as cost cutting measures currently under way

Advice to Senior ManagementMarket value adjustment of salary needed to senior associates that have the experience and analytical ability to retain good employees, hiring process of entry level needs to be more stringent, however difficult due to lower pay.

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

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Long hours, high requirements, low pay

Anonymous Employee (Current Employee)

I have been working at State Street full-time

Prosflexible work from home arrangements
good benefits

Consplace to get promoted if you are friendly with management even if not qualified
AVPs without university degrees in their field
long hours, lots of unpaid overtime
frequent technical issues, lead to low productivity

Advice to Senior Managementlisten to employees and show accountability

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

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Don't waste your time working here

Anonymous Employee (Current Employee)
Toronto, ON

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

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

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It's... "slave street"

Fund Accountant (Former Employee)
Toronto, ON

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

Prosgreat corporate learning and development, great place to learn and gain experience

Consworked so many hours @ such LOWEST pay EVER in the industry.
My team: because they are over-worked and really under paid... everyone is not happy at state street and they don't treat each other nicely. kinda sad.

Advice to Senior ManagementDo something!

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#1bank in US

Anonymous Employee (Current Employee)
Toronto, ON

I have been working at State Street full-time for more than 5 years

ProsGood starting point
Nice co workers
Good management

ConsSalary is not competitive
You start as a contract employee

Advice to Senior ManagementSalary should be according to skills not the position.

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

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Senior associate

Senior Associate (Current Employee)
Montreal, QC

I have been working at State Street full-time for more than 8 years

ProsVery good benefits: dental care, medical care

ConsBase salary not competitive starting at 40,000$

Advice to Senior ManagementThis base salary is has not changed for 10 years and should be realigned to the competitors. If the company wants to achieve their objective of employee engagement and avoid people leaving after a while for the competition, the base salary should be raised to at least 45,000$

Yes, I would recommend this company to a friend

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fund accountant

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

I have been working at State Street full-time for more than 3 years

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

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Average

Senior F Und Accountant (Current Employee)
Toronto, ON

I have been working at State Street

ProsGood learning experience and great coworkers

ConsNo work life balance . Also training process can be improved further. Also the compensation is below average. Difficult to move within the organization

Advice to Senior ManagementSenior management should improve the pay scale and also try to implement flexible working hours. this will help to improve work life balance

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