State Street Diversity And Inclusion FAQ

Read what State Street employees think about diversity and inclusion at the company, and if their workforce is comprised and supportive of individuals of varying gender, ethnicity, age, sexual orientation, religion and other attributes.

State Street has a diversity rating of 3.6.

All answers shown come directly from State Street Reviews and are not edited or altered.

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3 English questions out of 3

June 9, 2019

Does there seem to be diversity at State Street?

Pros

Company highly promotes diversity and work life balance, reduces organization hierarchy and increases communication transparency.

Cons

Several major organizational change and redundancy greatly reduces employee moral and increases management roles confusion.

Advice to Management

Walk the talks and improve moral and motivation. Invest in talent development.

Company highly promotes diversity and work life balance, reduces organization hierarchy and increases communication transparency.

June 9, 2019

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August 15, 2019

Does State Street provide assistance to those with physical or mental disabilitiies?

Pros

If you live close to their office, you dont have to commute in Boston traffic

Cons

State Street was (and in some areas still is) a sleepy custodial bank, concerned with the boring parts of financial services. This meant you could survive by doing the same mediocre job year in year out. You could advance if you knew the right people and politicked effectively. The typical senior exec was a lifetime employee who grew up understanding a narrow operations role and assumed their "dont mess with the flow" style could expand to running a global financial services business. Then the company realized that mediocrity wasnt going to help the stock price and they decided the antonym of mediocre was cruel, uncaring task masters, and proceeded to hire "change consultants" as senior leadership in the hope that shouting at people who had made a career of mediocrity would right the ship. It did not. Instead you end up with a toxic mix of institutionalized incompetence, political battles for promotion and HR turning a blind eye to division wide reports of unacceptable bullying behavior by executive vice presidents who laugh at the idea that there is a balanced norm between mediocre and being demeaning to their inferiors. It used to be the case that you could survive and enjoy work by ignoring the politics and finding a niche to grow your technical prowess. But with the company reeling from bad investments, poor strategy and decades of poor management, it is now everybodys responsibility to rectify the decline, meaning that even junior staff are exposed to harsh, uncaring managers who believe belittling their failing staff is "The Way Ahead".

Advice to Management

Find a company that has a half decent culture and talk to the management about how they instill core values into the culture. Hold everyone from associate to MC member accountable not only for performance, but for creating a culture that values each employee and seeks to get the best out of them every day. Writing your values on the columns of a roman portico, branding it "The way ahead" does not give you license to hire and promote cost-cutting-book-author management consultants into positions of power to the detriment of your workforce.

Instead you end up with a toxic mix of institutionalized incompetence, political battles for promotion and HR turning a blind eye to division wide reports of unacceptable bullying behavior by executive vice presidents who laugh at the idea that there is a balanced norm between mediocre and being demeaning to their inferiors.

August 15, 2019

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March 1, 2021

How is race or ethnicity talked about at State Street?

Pros

Established, stable financial company — one of the biggest and most respected in the world — with leadership that pushes to get the most out of every employee, every hour, every day and every dollar. If you are ambitious, tolerant of change and relentlessly optimistic, you’ll do well here. Leadership is not afraid of change or tackling big, important challenges. Exciting work if you’re in a visionary part of the company.

Cons

Soul-crushing if you let it get to you. Burdened by layers of bureaucracy, ‘process management’ and cost cutting. Constant change — including clockwork reorgs and layoffs — leave many feeling unsettled and hopeless. Employees bear the brunt of sub-par technology, laughably low budgets and endless scrutiny that multiplies the time it takes to do anything. Very little ethnic diversity at the EVP and C-levels. Hollow talk about values and work life balance is undercut by brutal ‘steamroller’ executives who do not seem to value or consider the voice of their teams, making absurd requests that have no bearing on the realities of what’s possible. On top of that, flat salary and ‘merit-based’ compensation for years on end wears thin. Many end up ‘donating’ countess hours every year.

Advice to Management

Trust and empower your teams. Fight for realistic budgets. Deliver *real* work life balance and hold yourselves and your teams accountable for affecting diversity. Increase pay even a little each year so people can keep up with inflation.

Very little ethnic diversity at the EVP and C

March 1, 2021

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3 English questions out of 3

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