State Street Reviews

Updated 17 October, 2014
Updated 17 October, 2014
1,312 Reviews
2.7
1,312 Reviews
Rating Trends

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

Review Highlights

Pros
  • Company has good benefits and is looking to improve work/life balance for employees (in 124 reviews)

  • Many employees can work from home a few days a week if their responsibilities allow them to (in 60 reviews)


Cons
  • Work/Life balance is one of their "core tenets" but they don't practice what they preach (in 39 reviews)

  • long hours, too much operational work, not so many bright people that can inspire you (in 53 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 (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  

    Never going back

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

    I worked at State Street as an intern (less than an year)

    Pros

    Good people, friendly, no more to say

    Cons

    low pay
    too much work
    little training

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3.  

    Worse company to work for

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

    I have been working at State Street as an intern (less than an year)

    Pros

    Some people were great to work with. Good location. Gain some knowledge.

    Cons

    No training. Upper management expects you to know everything even though they don't make the effort of training you. High turnover rate because of low pay and poor upper management who abuses their power. Long hours because upper management spends their day doing nothing other than complain about other employees. There are no career advancement since no one moves up so everyone ends up leaving.

    Advice to ManagementAdvice

    Just stay away from here. Regretted my decision for taking this job. Just waiting for my contract to end so I can get out of here.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5. 4 people found this helpful  

    Be prepared for an bumpy, uncomfortable ride

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

    I worked at State Street full-time (more than an year)

    Pros

    The benefits - health, dental, volunteer days, etc.
    Excellent work location in downtown T.O. - close to everything
    Very modern office environment

    Cons

    Work is very mundane with poor training to get you started
    Management (at least in my case) can be absolutely awful. They are there only (ONLY!!!!) to correct your mistakes and point out your flaws if you make a mistake. They do not care one iota about your professional development.
    No overtime pay ( and you will find yourself working many overtime hours for free to finish)

    Advice to ManagementAdvice

    Make it your job to not only get the job done, BUT also keep your team engaged, interested, and most importantly, wanting to work for you.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  6. 3 people found this helpful  

    Good first job, but don't stay too long

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

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

    Pros

    Good benefits, decent flexible work arrangements, recognition programs are alright when they are actually used.

    Cons

    The pay is terrible, way below industry average, and you are usually expected to work long hours. Being a US company, I find there is little room for growth in Canada. Being a US company, I find there is little room for growth in Canada.

    Doesn't Recommend
    No opinion of CEO
  7. 2 people found this helpful  

    Financial Reporting

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street as an intern

    Pros

    -High hourly pay
    -Pays overtime
    -Good people to work with

    Cons

    -Terrible work culture
    -Terrible management
    -Terrible work and life balance

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  8. 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.

  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 (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.  

    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 (more than an 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
  11.  

    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 (less than an 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

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