State Street FAQ

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

44 English questions out of 44

January 29, 2020

What is health insurance like at State Street?

Pros

Great benefits of health insurance and vacation Use to be solid opportunities for advancement and growth

Cons

No work life balance expect to work 12 to 16 hours without compensation Lack of training now with emphasis on India, U.S. employees learn by procedures and figuring out on your own while India to recieve procedures and shown how through using webex and phone

Advice to Management

Refocus efforts on U.S. office, I understand moving jobs to India to leverage reduced cost and time differences just need to do at slower pace to allow for easier transition to allow for training to be spread out to reduce the struggle and time it takes to train

Great benefits of health insurance and vacation

January 29, 2020

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November 6, 2018

Does State Street offer sponsored degrees?

Pros

401k match to 6%,, tuition reimbursement, and flex arrangements

Cons

Offshoring and cost savings running rampant for last two years

Advice to Management

Focus effort on retaining and rewarding what talent you have left that is helping transition the business offshore. Quality of service deteriorating since only focused on hiring in low cost locations.

401k match to 6%,, tuition reimbursement, and flex arrangements

November 6, 2018

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November 9, 2019

Does State Street pay for a gym membership?

Pros

Good company to work for

Cons

No gym in the company

No gym in the company

November 9, 2019

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March 3, 2019

Does State Street offer health savings accounts?

Pros

When they are available, you can get true entry level positions without prior experience. Can't beat the amount of vacation time (3 weeks starting, increases to 4 after year or two. Option to "buy" an additional 40 hrs.) Don't have to wait for vacation to accumulate to use it. Some teams have flex work options (work from home up to 3 days a week if you are an Associate II). Insurance options are ok. All high deductible options, but State Street contributes to your HSA each year. 401k matching up to 6% after 1st year. 2 paid vacation days to volunteer somewhere each year. Will match contributions to some charities, and will pay a grant to some organizations if you volunteer 16 hrs.

Cons

Lots of outsourcing to India. Splits teams up, causes increased work load and stress. This has hurt employee morale lately. Little time for performance reviews and comradery like there used to be. Also causes confusion with structure, (Ex: Managers keep changing). I feel this has resulted in less opportunities for advancement as domestic teams get smaller, there is no need for as many higher level employees. This has most likely also affected the amount of entry level positions available as the teams in India do a lot of the simpler tasks. Raises and/or bonuses are not guaranteed and are not received every year. **Due to the vacation time available, I would still recommend. You will just want to be aware of the above issues going in.

Advice to Management

More communication/heads up about constant changes. Need to do something to lift the spirits of employees during this time of change and transition.

All high deductible options, but State Street contributes to your HSA each year.

March 3, 2019

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November 11, 2020

What is the retirement plan like at State Street?

Pros

Good employee benefits and retirement plan Stable environment

Cons

Most people are not motivated Overachievers are not rewarded

Advice to Management

Please stop outsourcing. Work quality has gone down

Good employee benefits and retirement plan

November 11, 2020

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44 English questions out of 44