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.  

    ok ok sfssdfsadok stastfsdfsdfasdfsdsdfst

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

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

    Pros

    meet people, good entry level position

    Cons

    long hours, repetitive work, lower pay

  2.  

    Legal Intern

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

    I have been working at State Street as an intern for less than a year

    Pros

    the job allowed for alot of autonomy but very little direction and even less training, very little down time, unrealistic goals

    Cons

    very repetitive work, never had proper training, very poorly managed, authoritative management style, and overall one of my worst working experiences

    Advice to ManagementAdvice

    have more fulfilling jobs, better training, improve culture

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  3.  

    Trade Processor

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

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

    Pros

    Full benefits & great classes for self-improvement

    Cons

    Low salary, very low raises, and little opportunity for advancing within the company.

    Doesn't Recommend
    Negative Outlook
    No opinion of CEO
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  5. 1 person found this helpful  

    the company sucks but it's great place to start with

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

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

    Pros

    easy to find another job within the same industry

    Cons

    long hr and low pay

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6.  

    I have been working at State Street full-time

    Pros

    - Great learning ground
    - Potential to grow exponentially
    - Interaction with multiple facets of teh investment cycle

    Cons

    - Large organization where things can move fairly slow from a hierarchical stanpoint

  7. 4 people found this helpful  

    Worst place to work but great place to claim you work in finance

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

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

    Pros

    Relaxed work environment, max 50 hours a week, hour lunches, benefits im told are good. Great place for people to claim they work in finance (it is not, it is mindless button pressing / mouse clicking in the back office with no need for intelligence and no client interaction - and the street knows this).

    I will however say State Street is a global bank and their front office departments (Global Advisors, Global Markets) are highly regarded in the industry and provide great learning opportunities (and substantially higher pay).

    Cons

    No career advancement opportunities - advice to prospective employees is to not take the job to begin with. Advice to current employees is to get out as soon as you can. The longer you stay at back office, the longer you will stay in back office despite false optimism instilled by management that State Street will provide you with long term career development opportunities - moving within back office isn't career development.

    Extremely low pay. Almost laughable given people 15-20 years older would make the same $ amount salary in their first jobs out of school - do the math - 3% inflation every year for 15 years...assuming a 40K base for those guys you'd need to be making 62K to "break-even"...not happening at State Street.

    Advice to ManagementAdvice

    Being a VP or Senior VP in the back office does not add up to anything in high finance. Quit the power tripping - don't be bitter towards ambitious employees trying to move on to bigger and better things - create an environment that supports learning and encourage internships / rotations with front office departments to the extent possible.

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

    Adequate Learning experience for beginners

    • Career Opportunities
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee

    I worked at State Street full-time

    Pros

    Comfortable and relaxed environment for beginners to develope themselves.

    Cons

    Lack proper vertical Communications sometimes

  9.  

    great place to start working

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

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

    Pros

    it was a good place to start and good learning experience

    Cons

    lots of restructuring in the accounting department

    Recommends
  10. 1 person found this helpful  

    Overworked, underpaid, incompetence rewarded if manager's favorite

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

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

    Pros

    learning opportunity, if you apply yourself you can move laterally or upwards, decent benefits, pension, vacation,

    Cons

    few people are professional, majority need to go to business school and learn how to conduct themselves in an office, very political climate, consistent and persistent layoffs every 2 years, hire and fire or layoffs, working to know that any day you could be next, constant lean and restructuring going on, management can't make up its mind if they are expanding or reducing staff, pathetic

    Advice to ManagementAdvice

    get some serious professional education in how to conduct business, this practice of hiring and laying off people like we were paper supply is disgusting.. it happened in 2003 and it continuously happens and no pay increase, longer hours, no bonuses, but the executive get their fat checks

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  11. 1 person found this helpful  

    no career path

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

    I worked at State Street as a contractor for less than a year

    Pros

    very friendly coworkers that are willing to help and cooperative

    Cons

    horrible training program, learning opportunities and no incentives

    Advice to ManagementAdvice

    show more sympathy to employees when they make mistakes.
    don't point fingers and blame people for things they have no control over.
    support employee's life long goals and not just prioritize the department or company's short-term financial goals because high turnover ultimately screws up the company's operations and increases costs.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

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