State Street Reviews

Updated 29 August, 2014
Updated 29 August, 2014
1,306 Reviews

2.7
1,306 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
412 Ratings

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

Employee Reviews

Sort: Popular Rating Date
  1.  

    Overall it's a good first job out of college.

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

    I worked at State Street full-time for more than 3 years

    Pros

    Good youthful spirit because most staff is relatively young.

    Cons

    High turnover due to low pay and heavy workload.

    Advice to ManagementAdvice

    Company not doing enough to retain top performers.

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  2. 1 person found this helpful  

    Worst and most uncomfortable experience I have ever had

    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee

    I have been working at State Street

    Pros

    Benefit plan, great stepping stone to the industry, lots of experience due to shortage of staff, overtime pay, lots of non job related training.

    Cons

    Management tends to make decisions without consider the consequences. Lay off staff even during time it was lack of people. Had to threaten to sue the company in order to get the proper overtime pay which was stated in the contract. As long as you are not a manager or with the right manager, you will be preparing and checking the work on your own. Constantly having work load of 4-5 ppl and they don't expect you to put overtime to finish extra work. The so called "help" is to ask what you are doing and keep on telling you that you can do it as long as you finish it in much quicker than normal time

    Advice to ManagementAdvice

    Get rid of the department management because they are the ones that preventing the growth of the company.

  3.  

    Fund Administrator

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

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

    Pros

    Good to start with, Friendly management, Lot of opportunity to learn new things in Investment Banking.

    Cons

    Only suggestion I feel is, Work can be more organized in terms of Training to new employees considering the Fact that not all the Resources will have same understanding levels to take up the new processes.

    Advice to ManagementAdvice

    A better planing of Training and review of the Training sessions may help new employees to perform well and with great comfort and best accuracy.

    Recommends
    Neutral Outlook
    Approves of CEO
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  5.  

    Rewarding work and a great stepping stone into the industry

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

    I worked at State Street as an intern for less than a year

    Pros

    Lots of opportunities to learn about finance and banking
    Great place to develop strong networks
    Culture is amazing when you find the right group
    Ability to work from home

    Cons

    High turnover due to long hours

    Advice to ManagementAdvice

    Offer more employee rewards for their performance

    Recommends
    Neutral Outlook
    No opinion of CEO
  6.  

    Hard work but can be rewarding.

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

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

    Pros

    Employees are able to work from home due to flex program to help employees balance work/life responsibilities. The company should consider allowing employees to take a day a week to work from home.

    Cons

    The employee turnover is problematic. The company should look into increasing merit so they can retain employees.

  7.  

    It was okay at the start but it just got worse...

    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street

    Pros

    The company has a nice location downtown which is easily accessible by subway or train. Overall benefits for full-time employees are also good.

    Cons

    The challenges of working for this company would be the long hours and low pay, resulting in low employee morale and high turnover.

  8.  

    Fund accounting Administrator

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Fund Accounting Administrator Associate II  in  Montreal, QC
    Current Employee - Fund Accounting Administrator Associate II in Montreal, QC

    I have been working at State Street full-time

    Pros

    - Employees are company key assets
    - Good culture of excellence : focus on employees engagement, development and global inclusion
    - Employees are treated with respect and they are given chance to fulfill personal and professional goal.

    Cons

    You could work overtime depending on the schedule of your mission.
    Could be stressful sometimes but one can manage to do his best anyway.

    Advice to ManagementAdvice

    Keep going. You guys creat a great working environment !

    Recommends
    Positive Outlook
    Approves of CEO
  9. 1 person found this helpful  

    Officer in Global Operations

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

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

    Pros

    This bank has an incredible skill of hiring people you enjoy working with. Have had very few interactions which weren't positive. This company also has a flexible work plan, which allows for flexible work time, or more time spent working from home.

    Cons

    Actual salary compensation is well below industry average. Though everyone enjoys everyone's company, most are regularly looking elsewhere for employment as a result of being paid below market.
    Another major con is this bank does very specific work, and trains you to only be qualified to work at this bank.

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  10.  

    Overall, my experience at State Street is a pleasant one mainly because of the people that I work with

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

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

    Pros

    Education assistance reimbursement, laid back managers, a decent place to jump start your career as a fresh graduate.

    Cons

    Should hire managers that knows how to motivate employees and are competent with their jobs, menial jobs are common within the company, especially those repetitive operational jobs. Compensation should be competitive to help retain talent.

    Advice to ManagementAdvice

    Eliminate tasks that are redundant through creative alternatives on getting the job done. Invest on your employees through competitive compensation. Invest on IT and improvement on day-to-day operations.

    Recommends
    Neutral Outlook
    Approves of CEO
  11. 2 people found this helpful  

    Survivor has got nothing on State Street!

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

    I worked at State Street full-time for more than 5 years

    Pros

    work life balance, flex time

    Cons

    constant restructuring and layoffs, great talent that challenges the status quo is moved out, officer positions and above you will find 90% are all lifers, with over 20 years with the company, if you don't conform and conform fast enough or seen as a threat with your innovative ideas, you won't get fired, but you will most certainly get laid off, if you are looking for a short term get experience job, this is it, for longer term, you be lucky ... but sooner rather than later the tribe will have spoken and you will have to leave the island

    Advice to ManagementAdvice

    get out and allow movement from the younger and more dynamic talent to move up, sick and tired of your constant lean initiatives and restructuring only to change it back and hire the position you just fired, ridiculous, its companies like you that manage it the way you do, that require new govt legislation to protect the rights of employees

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

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