State Street Work Life Balance FAQ

Read what State Street employees think about work life balance at the company and make sure this fits your lifestyle. Employees have questions about everything from the work from home policy, overtime and flexibility.

State Street has a work life balance rating of 3.3.

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

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6 English questions out of 6

September 30, 2019

What is working from home like at State Street?

Pros

I've worked with terrific people, worked from home whenever I want (varies from team to team), and never had a problem scheduling a vacation.

Cons

I have had 6 managers this year alone. At least twice because they were laid off, with our team latched onto somewhere else, only to be moved again every few months. There is absolutely no accountability for senior leadership, and it shows. We receive weekly reminders that expenses need to come down, but 98% of the company has no role in expense management. Nearly every job is being offshored so fast it's affecting the client experience, and then leadership scratches its head when the constant rework isn't resulting in lower costs. The company is shifting every cost it possibly can onto the backs of its employees (no corporate phones, no stipend for using personal phones for international calls, empty break rooms, mandatory desk sharing and work from home using your personal phones, computers and internet, no dedicated workspaces, etc.). Every administrative function is now someone's 4th job, meaning it's nearly impossible to find a pen, let alone figure out which of our two HR systems currently handles Payroll. Even the phone number you call to ask has been outsourced. Processes and technology are entirely broken. Self-built systems require 100 page instruction manuals to figure out. Every business unit is required to create its own process for key initiatives, then spend weeks arguing with other businesses about whose policy wins. Solutions are usually to add a new spreadsheet that needs to be filled out and manually aggregated because our data teams keep building databases that lack common data elements and literally can't talk to each other. But even if they did, the systems doing the "talking" are someone else's responsibility to figure out.

Advice to Management

Fire every manager who has ever uttered the phrase, "That's the business's problem to solve." Start hiring data professionals who know what the phrases "requirements document", "user acceptance testing" and "common key" mean. Don't offshore until the teams actually can handle the work. End the "everyone is a member of 4 working groups" model and invest in centralized program offices that do more than direct the business to create their own policies and procedures, so that the business can focus on what it does best: servicing clients.

The company is shifting every cost it possibly can onto the backs of its employees (no corporate phones, no stipend for using personal phones for international calls, empty break rooms, mandatory desk sharing and work from home using your personal phones, computers and internet, no dedicated workspaces, etc.).

September 30, 2019

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May 22, 2020

How is the work/life balance at State Street?

Pros

Great people, good worklife balance, work from home available

Cons

Underpaid, departments do not communicate well. Senior management oblivious of issues

Great people, good worklife balance, work from home available

May 22, 2020

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February 4, 2021

What is overtime like at State Street?

Pros

Sadly can't think of any.

Cons

very unprofessional management style demonstrated by majority of the VPs and AVPs who work there, no work-life balance- lots of unpaid overtime, lack of proper planning and trainings (especially for new hires), next to no growth opportunities, work under extreme pressure.

lots of unpaid overtime, lack of proper planning and trainings (especially for new hires), next to no growth opportunities, work under extreme pressure.

February 4, 2021

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July 22, 2019

Does State Street reimburse for mileage?

Pros

I can work from home twice a week (which is great because the pay is abysmal so I save on gas).

Cons

Forget the concept of ever having a team that’s staffed. Everything is “lean” aka as cheap as possible; if it can maybe be done in China or India, it’s going to be. American labor is too expensive. Not only that, so is investing in technology. Fund admin is the only profitable part of the business at the moment and yet the entire company has a hiring freeze and the tech looks straight out of the 80s. I’ve worked 60+ hours a week for the past 3 months and yet they preach work/life balance. Upper management does nothing but spew corporate bs line “synergies” and “hubs” and “plans.”

Advice to Management

Stop treating your employees like crow. You wonder why you’re not retaining talent and then you continue to try and cut every single cost possible, which just continues to harm the people who ARE left.

I can work from home twice a week (which is great because the pay is abysmal so I save on gas).

July 22, 2019

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February 9, 2021

How flexible is your schedule working at State Street?

Pros

flexible work schedule work from home is available

Cons

tight deadline, high volume of inquires from different team

flexible work schedule work from home is available

February 9, 2021

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6 English questions out of 6

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