State Street Reviews

Updated 18 October, 2014
Updated 18 October, 2014
1,313 Reviews
2.7
1,313 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.  

    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 (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.

  2.  

    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.

  3.  

    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
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  5.  

    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 (more than an 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
  6. 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 (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
  7. 3 people found this helpful  

    IF YOU BOTHER - start working on getting out right away

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

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

    Pros

    Good benefits especially dental, company pays 6% into your pension if you are f/t

    Cons

    Management (Rats) corrupted, micro- managed,
    DO NOT BELIEVE A SINGLE WORD - they are pure snakes.
    They bring on only their own ... they pretend... they lie....
    You are either under them or against them.... If I was senior VP,
    I'd fire all of them.

    Advice to ManagementAdvice

    No advice - you have crossed all boundaries ...
    You will be let go eventually and disrespected by your own bosses....
    This place is very toxic.......

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
  8.  

    good, but theres better

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

    I have been working at State Street full-time

    Pros

    very friendly staff depending on your team. excellent benefits, dental, pension, flex hours and work from home, pays for your courses, CFA included. sports reimbursement too.

    Cons

    low starting salary but made up for with the 1.5xOT hrs for anything over 40 a week, and 2xOT for anything over 50 assuming you dont mind doing the ot, but heck, if you get the work from home to do the OT, why not.

    Advice to ManagementAdvice

    all depends on your manager. for the 2 years I worked there I have only met good managers that are really supportive with your career growth that gave good advices. Although there is high turnover, there are times when they were encouraged by the managers to apply for better roles.

    Recommends
    Positive Outlook
    No opinion of CEO
  9.  

    Good job for fresh grads

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

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

    Pros

    It is a very good place to start your career as you get to learn and network with many other fresh grads.

    If you are willing to stay and do your time, you will surely be promoted to senior roles within your team. Managers and peers are nice people and nice to work with. Management is approachable.

    Company has good benefits and is looking to improve work/life balance for employees.

    Cons

    Long hours coupled with low compensation = high turnover.

    When I worked at State Street, overtime was a common occurrence which lead to a very bad work/life balance as the hours were already weird enough, starting at 10am and having the day end at 7pm (supposedly).

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  10.  

    Good

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

    I have been working at State Street as an intern

    Pros

    Good experience, working on direct industry statements. Excellent environment to work in.

    Cons

    Only offer summer intern positions. Year long positions would be nice.

    Recommends
    Positive Outlook
    Approves of CEO
  11.  

    A good start but there is better

    Former Employee - Senior Client Service Officer in Toronto, ON
    Former Employee - Senior Client Service Officer in Toronto, ON

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

    Pros

    nice coworkers, easy job, 9 - 5, hard to get fired

    Cons

    no perks, lazy coworkers/management, low pay relative to industry

    Advice to ManagementAdvice

    pay more

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