State Street Reviews

Updated 19 September, 2014
Updated 19 September, 2014
1,285 Reviews
2.7
1,285 Reviews
Rating Trends

Recommend to a friend
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State Street President and CEO Joseph (Jay) L. Hooley
Joseph (Jay) L. Hooley
406 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. 4 people found this helpful  

    Work here if you want to lose faith in yourself

    • 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

    The only good thing about this company, is the benefits. Other than that, nothing.

    Cons

    Where to begin. IFS is worse than high school, if one manager doesn't like you, no manager in the company will - they will make sure of it. They delve into every part of your personal life and spread rumours just like teenage girls. They do not promote, when they do, it's nepotistic and favouritism that moves people up. They employ the most low-class and incompetent people to be managers. I can hardly understand my manager, and they've been in the country for decades! There is no transparency, you can be told you're doing well and then out of nowhere get a bad review. No matter how hard you work, it will go unnoticed, no matter how well you work, it will never be good enough. If you do go that extra mile, management doesn't want to know or hear about it. Come work here if you like to be micro-managed, reminded of your tasks on a constant basis, and be humiliated.

    Advice to ManagementAdvice

    Stop micro-managing...if you don't trust the people working for you, fire them. Grow a spine and come to your own conclusions about employees; stop allowing the spineless and mentally deranged managers tell you what to think of your employees.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2.  

    not that great

    • 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

    people are great and fun to be around

    Cons

    work is not challenging and hours are terrible

    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO
  3. 2 people found this helpful  

    Waste of time

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

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

    Pros

    Great people and culture, flexible hours, good entry level job, benefits are pretty good and will pay for your education

    Cons

    Low pay, no opportunities for growth, very political - if you stay long enough, you'll get a promotion. if you see no opportunities for growth after 1-2 years, leave!

    Advice to ManagementAdvice

    n/a

    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO
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  5.  

    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

  6.  

    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
  7.  

    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
  8. 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
  9.  

    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

  10. 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
  11.  

    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

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