State Street

  www.statestreet.com
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State Street Reviews

Updated Jul 20, 2014
All Employees Current Employees Only

2.7 1,210 reviews

51% Approve of the CEO

State Street President and CEO Joseph (Jay) L. Hooley

Joseph (Jay) L. Hooley

(376 ratings)

40% of employees recommend this company to a friend

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees(in 118 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)

1,210 Employee Reviews
Relevance Date Rating
in
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

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

    Manager (Former Employee) Toronto, ON

    ProsGood youthful spirit because most staff is relatively young.

    ConsHigh turnover due to low pay and heavy workload.

    Advice to Senior ManagementCompany not doing enough to retain top performers.

    No, I would not recommend this company to a friend

     

    Worst and most uncomfortable experience I have ever had

    Anonymous Employee (Current Employee)

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

    ConsManagement 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 Senior ManagementGet rid of the department management because they are the ones that preventing the growth of the company.

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

     

    Fund Administrator

    Fund Administrator, Associate II (Former Employee) Toronto, ON

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

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

    Yes, I would recommend this company to a friend

  1. We want your feedback – Are these company reviews helpful to you?  Yes | No
    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    1 person found this helpful  

    Officer in Global Operations

    Global Operations Officer (Current Employee) Toronto, ON

    ProsThis 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.

    ConsActual 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.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

     

    Rewarding work and a great stepping stone into the industry

    Summer Intern (Former Employee) Toronto, ON

    ProsLots 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

    ConsHigh turnover due to long hours

    Advice to Senior ManagementOffer more employee rewards for their performance

    Yes, I would recommend this company to a friend

     

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

    Anonymous Employee (Former Employee)

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

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

    • Culture & Values
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    Hard work but can be rewarding.

    Senior Associate (Current Employee) Toronto, ON

    ProsEmployees 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.

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

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Approves of CEO

     

    Fund accounting Administrator

    Fund Accounting Administrator Associate II (Current Employee) Montreal, QC

    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.

    ConsYou 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 Senior ManagementKeep going. You guys creat a great working environment !

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

    • Culture & Values
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    • Senior Management
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    • Approves of CEO

     

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

    Fund Administrator, Associate I (Current Employee) Toronto, ON

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

    ConsShould 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 Senior ManagementEliminate 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.

    Yes, I would recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

    2 people found this helpful  

    Survivor has got nothing on State Street!

    Manager (Former Employee) Toronto, ON

    Proswork life balance, flex time

    Consconstant 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 Senior Managementget 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

    No, I would not recommend this company to a friend

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